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Vertex cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$53.2M in Q3 2026 · $164M over twelve months

Operating cash flow$53.3M
Capital spending−$102K
Free cash flow+$53.2M
Cash conversion cycle25 days

Analysis

In Q3 2026, Vertex generated $53.3M of operating cash flow and spent $102K on capital projects, leaving free cash flow of $53.2M. That is $9.3M less than in Q3 2025 ($62.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $164M; the largest uses were other investing ($151M), other financing ($91.0M), taxes on employees’ shares ($10.0M); besides operations, cash came from shares issued ($442K); the cash balance fell by $87.6M.

Operating cash flow was $53.3M against net income of −$46.6M. The largest differences: prepaid and other assets +$43.6M, depreciation & amortization +$31.1M, accrued liabilities +$20.7M.

Its cash conversion cycle was 25 days (receivables 67 + inventory 0 − payables 42).

Free cash flow

Vertex: free cash flow by quarterVertex: free cash flow by quarter$41.1MQ4 2024$14.8MQ1 2025$46.0MQ2 2025$62.5MQ3 2025$42.3MQ4 2025$16.0MQ1 2026$30.9MQ2 2026$53.2MQ3 2026
Operating cash flow less capital spending.
Vertex: operating cash flow against capital spendingVertex: operating cash flow against capital spendingOperating cash flowCapital spending$41.1M$0Q4 2024$14.8M$0Q1 2025$46.0M$0Q2 2025$62.5M$0Q3 2025$42.3M$0Q4 2025$38.0M$22.0MQ1 2026$30.9M$0Q2 2026$53.3M$102KQ3 2026
Latest (Q3 2026): Operating cash flow $53.3M, Capital spending $102K.

Capital allocation, year by year

Vertex: where the cash came from (up) and went (down), by fiscal yearVertex: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $90.3MFY2021: Shares issued $1.9MFY2021: Capital spending −$31.7MFY2021: Acquisitions −$251M$92.1MFY2021FY2022: Operating cash flow $63.8MFY2022: Net borrowing −$2.3MFY2022: Shares issued $1.8MFY2022: Capital spending −$45.5MFY2022: Acquisitions −$474K$65.7MFY2022FY2023: Operating cash flow $74.3MFY2023: Net borrowing −$2.3MFY2023: Shares issued $4.8MFY2023: Capital spending −$49.3M$79.2MFY2023FY2024: Operating cash flow $165MFY2024: Net borrowing $298MFY2024: Shares issued $8.5MFY2024: Capital spending −$71.8M$471MFY2024FY2025: Operating cash flow $166MFY2025: Net borrowing −$76KFY2025: Shares issued $7.7MFY2025: Buybacks −$10.1M$173MFY2025
Over these 5 years operating cash flow totalled $559M; the largest uses were acquisitions ($252M) and capital spending ($198M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$218M
Debt$339M
Net debt$121M

Vertex funds itself: free cash flow was $164M over the last twelve months, and $218M of cash and investments stands against $339M of debt.

Where the cash came from and went

Vertex: sources (+) and uses (−) of cash, Q3 2026Vertex: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$53.3MOther investing−$38.1MBuybacks−$27.1MOther financing$6.4MCash drawn (+) / kept (−)$5.8MTaxes on employees’ shares−$328KExchange rates$139KCapital spending−$102KNet borrowing (+) / repaid (−)−$9KShares issued$1K
Vertex: sources (+) and uses (−) of cash, TTM to Q3 2026Vertex: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$164MOther investing−$151MOther financing−$91.0MCash drawn (+) / kept (−)$87.6MTaxes on employees’ shares−$10.0MExchange rates−$561KShares issued$442KNet borrowing (+) / repaid (−)−$74K

From profit to cash

Vertex: net income to operating cash flow, Q3 2026Vertex: net income to operating cash flow, Q3 2026Net income−$46.6MDepreciation & amortization$31.1MStock-based pay$15.4MDeferred taxes−$14.1MOther non-cash−$250KReceivables$3.5MPayables−$8.5MAccrued liabilities$20.7MDeferred revenue−$9.2MPrepaid and other assets$43.6MOther liabilities$528KOperating cash flow$53.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202667—4225
Q2 202670—4624
Q1 202678—4632
Q4 202574—4926
Q3 202566—4323
Q2 202573—4033
Q1 202581—4338
Q4 202476—4927

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$53.3M−$102K−$27.1M−$9K$1K$5.8M$53.2M
Q2 2026$30.9M—−$26.6M−$19K$344K$13.2M$30.9M
Q1 2026$38.0M−$22.0M−$20.0M−$20K$97K$68.1M$16.0M
Q4 2025$42.3M——−$26K—$498K$42.3M
Q3 2025$62.5M——−$22K$19K−$28.0M$62.5M
Q2 2025$46.0M——−$16K$6.5M−$7.1M$46.0M
Q1 2025$14.8M——−$12K$1.2M$22.4M$14.8M
Q4 2024$41.1M——−$23K$3.8M−$20.7M$41.1M

Vertex: income statement and cash flow

Vertex, Q3 2026: revenue $213M (+11% year over year), operating margin 0.1%. The chart follows the revenue to costs, profit and cash.

Vertex: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.