• Vertex average gross margin for 2024 was 62.39%, a 2.06% increase from 2023.
• Vertex average gross margin for 2023 was 61.13%, a 0.49% increase from 2022.
• Vertex average gross margin for 2022 was 60.83%, a 0.5% increase from 2021.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.