i3 Verticals, Inc. (IIIV)
i3 Verticals, Inc. (IIIV) delivers comprehensive payment and software solutions, catering to the operational needs of small and medium-sized businesses, as well as various organizations within the education, non-profit, public sector, and healthcare industries across the United States. The company's operations are divided into two primary divisions: Merchant Services, and Proprietary Software and Payments. Through its offerings, i3 Verticals enables clients to seamlessly accept electronic payments. This critical service facilitates the secure and efficient exchange of funds and transaction data among clients, financial institutions, and diverse payment networks. Beyond payment processing, the firm also licenses its proprietary software, provides ongoing technical support, and supplies other solutions integral to point-of-sale operations. Its solutions reach customers via a multi-faceted approach, including a direct sales team, various distribution partners (such as independent software vendors, value-added resellers, and independent sales organizations), and referral channels comprising financial institutions, trade associations, chambers of commerce, and card issuers. Established in 2012, i3 Verticals maintains its headquarters in Nashville, Tennessee.
Sector: Services-Prepackaged Software
Industry: Software - Infrastructure
i3 Verticals, Inc.
NASDAQ:IIIVTechnology · Software - Infrastructure
-0.40%$17.37
AH Close$17.37+0.00%vs close
AH Close$17.37+0.00%vs close
Mkt Cap$313M
Float17.21M
O/S18.02M
Inst Own-
SI19.3%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$213.16M
Net Income$17.87M
Total Assets$638.41M
Free Cash Flow$3.75M
Debt & Equity
Debt 2%
Equity 98%
Total Debt$7.75M
Total Equity$389.58M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in IIIV's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$638.41M
Liabilities$120.69M
Accounts Receivable$58.47M
Accounts Payable$6.25M
Inventory$2.52M
PP&E (Net)$11.76M
Goodwill$248.47M
Intangible Assets$184.11M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 |
| Revenue | $213.16M | $229.92M | $189.68M | $187.75M | $224.12M | $150.13M | $376.31M | $323.51M | $262.57M | $199.64M |
| YoY Growth | -7.3% | 21.2% | 1.0% | -16.2% | 49.3% | -60.1% | 16.3% | 23.2% | 31.5% | - |
| Cost of Revenue | $94.49M | $18.57M | $54.81M | $12.83M | $57.71M | $47.23M | $287.1M | $254.86M | $217.91M | $162.93M |
| Gross Profit | $118.67M | $211.35M | $134.87M | $174.92M | $166.42M | $102.9M | $89.2M | $68.65M | $44.66M | $36.71M |
| Gross Margin | 55.7% | 91.9% | 71.1% | 93.2% | 74.3% | 68.5% | 23.7% | 21.2% | 17.0% | 18.4% |
| Research and Development | $0 | $13.54M | $11.15M | $7.85M | $6.28M | $3.98M | $2.98M | $1.7M | $1.54M | $1.22M |
| Selling, General, and Administrative | $114.66M | $173.23M | $175.75M | $154.56M | $132.99M | $78.32M | $62.86M | $40.59M | $27.19M | $20.39M |
| Other | $0 | $17.72M | -$47.62M | $35.64M | $27.17M | $12.83M | $16.98M | $14.01M | $8.33M | $11.13M |
| Total Operating Expenses | $114.66M | $204.5M | $139.28M | $198.06M | $166.43M | $95.13M | $82.81M | $56.29M | $37.06M | $32.75M |
| Operating Income (EBIT) | $4.01M | $6.85M | -$4.41M | -$23.14M | -$12K | $7.77M | $6.39M | $12.36M | $7.6M | $3.96M |
| Operating Margin | 1.9% | 3.0% | -2.3% | -12.3% | -0.0% | 5.2% | 1.7% | 3.8% | 2.9% | 2.0% |
| Interest Expense | $2.3M | $29.26M | $25.13M | $14.78M | $9.8M | $8.93M | $6M | $8.5M | $6.94M | $5.9M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $6.87M | -$25.87M | -$23.9M | -$15.77M | -$7.2M | -$11.55M | -$6M | -$16.98M | -$6.52M | -$5.81M |
| Income Before Tax (EBT) | $10.88M | -$19.01M | -$28.32M | -$38.91M | -$7.22M | -$3.77M | $386K | -$4.62M | $1.08M | -$1.85M |
| Income Tax Expense | $5.27M | -$5.67M | -$3.51M | $152K | $623K | -$2.79M | -$177K | $337K | $177K | $243K |
| Net Income | $17.87M | $113.34M | -$811K | -$17.1M | -$4.46M | -$419K | -$3.04M | -$6.9M | $902K | -$2.09M |
| Net Income Margin | 8.4% | 49.3% | -0.4% | -9.1% | -2.0% | -0.3% | -0.8% | -2.1% | 0.3% | -1.0% |
| Supplementary Data | ||||||||||
| EPS | 0.75 | 4.84 | -0.94 | -0.77 | -0.21 | -0.03 | -0.29 | -0.78 | 0.12 | -0.27 |
| Diluted EPS | 0.56 | 4.64 | -0.07 | -0.77 | -0.22 | -0.03 | -0.29 | -0.74 | 0.12 | -0.27 |
| Weighted Average OS | 23.91M | 23.42M | 23.14M | 22.25M | 20.99M | 14.83M | 10.49M | 8.81M | 7.80M | 7.80M |
| EBITDA | $43.02M | $46.77M | $33.27M | $30.45M | $27M | $23.37M | $22.95M | $15.71M | $18.1M | $13.95M |
| EBITDA Margin | 20.2% | 20.3% | 17.5% | 16.2% | 12.0% | 15.6% | 6.1% | 4.9% | 6.9% | 7.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $66.67M | $86.54M | $3.1M | $3.49M | $3.64M | $15.57M | $1.12M | $572K | $955K | $3.78M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $66.67M | $86.54M | $3.1M | $3.49M | $3.64M | $15.57M | $1.12M | $572K | $955K | $3.78M |
| Accounts Receivable | $58.47M | $56.18M | $50.79M | $58.26M | $38.5M | $17.54M | $15.34M | $12.5M | $8.41M | $6.17M |
| Inventory | $2.52M | $2.42M | $2.04M | $4.12M | $2.22M | $1.31M | $1.29M | $930K | $1.14M | $1.21M |
| Other Current Assets | $3.68M | $2.97M | $25.82M | $11.46M | $8.04M | $1.94M | $0 | $863K | $5.2M | $4.45M |
| Total Current Assets | $137.63M | $153.39M | $85.54M | $83.81M | $58.12M | $37.98M | $20.57M | $16.57M | $15.7M | $15.6M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $11.76M | $17.63M | $21.87M | $23.35M | $20.38M | $5.34M | $5.03M | $2.96M | $1.42M | $1.6M |
| Goodwill | $248.47M | $280.68M | $267.98M | $353.64M | $292.24M | $187M | $168.28M | $83.95M | $58.52M | $35.06M |
| Intangible Assets | $184.11M | $221.41M | $221.21M | $248.26M | $213.08M | $126.22M | $122.87M | $69.39M | $63.04M | $47.26M |
| Long-Term Investments | $250K | $2.42M | $4.21M | $12.73M | $14.22M | $6.23M | $2.08M | $665K | $1.01M | $413K |
| Deferred Tax Assets | $49.06M | $48.45M | $52.51M | $43.46M | $49.99M | $36.76M | $28.14M | -$665K | -$1.01M | -$413K |
| Other Long-Term Assets | $7.14M | $6.7M | $231.08M | $5.06M | $3.77M | $4M | $2.33M | $2.27M | $1.31M | $778K |
| Total Long-Term Assets | $500.79M | $577.28M | $798.87M | $686.5M | $593.68M | $365.55M | $328.73M | $158.58M | $124.29M | $84.69M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $638.41M | $730.67M | $884.42M | $770.31M | $651.8M | $403.53M | $349.3M | $175.14M | $139.99M | $100.28M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $6.25M | $4.89M | $6.37M | $9.34M | $7.87M | $3.85M | $3.44M | $4.11M | $1.6M | $1.98M |
| Short-Term Debt | $1.83M | $28.53M | $3.66M | $4.57M | $3.2M | $0 | $0 | $5M | $4M | $5M |
| Current Income Tax Payable | $0 | $30.52M | $0 | $0 | $0 | $0 | $50K | $836K | $0 | $0 |
| Current Unearned Revenue | $37.68M | $38.36M | $32.78M | $31.98M | $29.86M | $10.99M | $10.24M | $4.93M | $2.72M | $2.27M |
| Other Current Liabilities | $15.58M | $57.11M | $39.79M | $56.52M | $47.9M | $20.2M | $17.23M | $10.4M | $10.6M | $9.86M |
| Total Current Liabilities | $70.69M | $164.73M | $93.46M | $111.26M | $96.51M | $38.9M | $35.23M | $26.44M | $20.22M | $20.3M |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $2.96M | $4.89M | $388M | $287.02M | $200.6M | $90.76M | $139.3M | $31.78M | $106.84M | $78.54M |
| Long-Term Unearned Revenue | $808K | $795K | $200K | $114K | $162K | $0 | -$516K | -$1.1M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $8.99M | $11.4M | $18.61M | $7.9M | $3.28M | $2.21M | $516K | $1.1M | $0 | $0 |
| Other Long-Term Liabilities | $34.27M | $28.61M | $46.88M | $42.34M | $49.69M | $31.49M | $32.33M | $4.73M | $9.79M | $10.95M |
| Total Long-Term Liabilities | $50M | $50.59M | $462.66M | $351.37M | $265.7M | $124.46M | $171.63M | $36.5M | $116.62M | $89.49M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $120.69M | $215.32M | $556.12M | $462.62M | $362.21M | $163.36M | $206.86M | $62.94M | $136.84M | $109.79M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $7.72M | $7.02M |
| Common Stock | $3K | $3K | $3K | $3K | $3K | $3K | $2K | $3K | $36.16M | $20.73M |
| Retained Earnings | $118.27M | $100.4M | -$12.94M | -$23.58M | -$6.48M | -$2.02M | -$2.31M | $736K | -$33.02M | -$30.24M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.29M | -$1.35M | -$891K |
| Other Stockholders' Equity | $271.31M | $279.33M | $249.69M | $241.96M | $211.24M | $157.6M | $82.38M | $38.56M | $0 | $0 |
| Total Equity | $389.58M | $379.74M | $236.75M | $218.38M | $204.76M | $155.58M | $80.07M | $39.3M | $3.15M | -$9.51M |
| Minority Interest | $128.14M | $135.62M | $91.55M | $89.31M | $84.83M | $84.59M | $62.37M | $72.9M | $0 | $0 |
| Total Liabilities and Equity | $510.27M | $595.05M | $792.87M | $681M | $566.97M | $318.94M | $286.93M | $102.25M | $139.99M | $100.28M |
| Supplementary Data | ||||||||||
| Total Debt | $7.75M | $38.31M | $400.63M | $305.58M | $215.77M | $90.76M | $139.3M | $36.78M | $110.84M | $83.54M |
| Net Debt | -$58.92M | -$48.23M | $397.52M | $302.09M | $212.13M | $75.19M | $138.18M | $36.2M | $109.88M | $79.76M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 |
| Operating Activities | ||||||||||
| Net Income | $17.87M | $175.13M | -$2.65M | -$23.22M | -$7.84M | -$979K | $563K | -$4.96M | $902K | -$2.09M |
| Depreciation & Amortization | $29.84M | $37.45M | $36.46M | $29.42M | $24.42M | $18.22M | $16.56M | $11.84M | $10.09M | $9.9M |
| Deferred Income Tax | $4.97M | $434K | -$5.93M | $2.59M | -$287K | -$3.21M | -$586K | -$682K | $56K | -$3K |
| Stock-Based Compensation | $18.34M | $26.34M | $27.88M | $26.23M | $20.86M | $10.45M | $6.12M | $1.57M | $0 | $0 |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | -$7.41M | $9.58M | -$7.66M | -$15.77M | -$10.94M | -$1.03M | $2.43M | -$2.32M | -$2.43M | -$1.18M |
| Inventory | $0 | $0 | $0 | $0 | $914K | -$860K | -$2.06M | $237K | $1.87M | $69K |
| Accounts Payable | $1M | -$3.24M | $1.67M | $1.54M | $3.88M | $239K | -$1.77M | $1.17M | -$384K | $509K |
| Other Working Capital | -$47.05M | $10.81M | -$14.19M | $7.55M | $5.15M | $617K | $2.59M | -$123K | -$212K | $548K |
| Total Working Capital Change | -$53.46M | $17.16M | -$20.17M | -$6.68M | -$991K | -$1.03M | $1.19M | -$1.03M | -$1.16M | -$56K |
| Other Non-Cash Items | -$11.88M | -$208.1M | $1.59M | $17.5M | $10.61M | $269K | $2.74M | $11.35M | -$2M | $2.23M |
| Net Cash from Operating | $5.69M | $48.41M | $37.17M | $45.85M | $46.77M | $23.72M | $26.6M | $18.08M | $7.73M | $10.01M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$10.13M | -$14.96M | -$4.2M | -$12.45M | -$8.2M | -$5.95M | -$3.11M | -$4.49M | -$2.1M | -$2.88M |
| Acquisitions | -$11M | $415.96M | -$102M | -$100.72M | -$149.5M | -$27.69M | -$137.04M | -$32.36M | -$44.17M | -$32.28M |
| Purchases of Investments | $0 | -$5.37M | -$2.19M | -$52K | -$1.82M | -$1.79M | -$3.59M | -$1.21M | -$1.63M | $0 |
| Sales of Investments | $0 | $0 | $295K | $600K | $3.2M | $3.04M | $2.3M | $3.42M | $1.46M | $0 |
| Other Investing Activities | $97.59M | $524K | -$13.42M | -$430K | $0 | -$3.04M | -$2.3M | -$3.42M | -$1.46M | -$2.02M |
| Net Cash from Investing | $76.46M | $396.15M | -$121.52M | -$113.05M | -$156.31M | -$35.43M | -$143.73M | -$38.05M | -$47.9M | -$35.15M |
| Financing Activities | ||||||||||
| Debt Repaid | $26.48M | $360.04M | -$82.79M | -$80.62M | -$104.39M | -$120.59M | -$101.62M | $64.65M | -$27.6M | -$3.7M |
| Common Stock Issuance | $300K | -$527K | $180K | $18.39M | $1.32M | $82.9M | $111.69M | $89.51M | $12.5M | $9M |
| Common Stock Repurchases | -$37.6M | $0 | $0 | $0 | $0 | -$10.88M | -$90.03M | -$4.63M | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$40.63M | -$6.8M | -$9.99M | -$25.97M | -$3.62M | $49.98M | -$4.19M | -$973K | $9.75M | $3.22M |
| Net Cash from Financing | -$104.41M | -$367.36M | $72.98M | $73.03M | $102.1M | $29.11M | $119.09M | $19.24M | $37.35M | $28.92M |
| Forex Effect | $2.41M | $0 | $10.98M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$19.85M | $77.2M | -$385K | $5.83M | -$7.44M | $17.4M | $1.96M | -$731K | -$2.82M | $3.77M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | $5.69M | $48.41M | $37.17M | $45.85M | $46.77M | $23.72M | $26.6M | $18.08M | $7.73M | $10.01M |
| Capital Expenditure | -$1.94M | -$14.96M | -$16.38M | -$12.45M | -$8.2M | -$5.95M | -$3.11M | -$4.49M | -$2.1M | -$2.88M |
| Free Cash Flow | $3.75M | $33.45M | $20.8M | $33.4M | $38.57M | $17.77M | $23.49M | $13.59M | $5.63M | $7.13M |
| Cash at Beginning | $86.53M | $12.4M | $3.49M | $17.93M | $20.6M | $3.2M | $1.24M | $1.97M | $3.78M | $414K |
| Cash at End | $66.67M | $89.6M | $3.1M | $23.77M | $13.16M | $20.6M | $3.2M | $1.24M | $955K | $4.19M |