i3 Verticals Files Q3 2024 10-Q

TL;DR

i3 Verticals filed its 10-Q for 12/31/24 - check financials.

AI Summary

i3 Verticals, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported financial results for the three months ended December 31, 2024, and the nine months ended December 31, 2024. Key financial data and segment information are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for i3 Verticals, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — Quarterly reports can reveal shifts in financial performance or operational challenges that may impact stock value.

Key Numbers

• 0930 — Fiscal Year End (Indicates the company's annual financial reporting cycle.)
• 001-38532 — SEC File Number (Unique identifier for the company's SEC filings.)

Key Players & Entities

• i3 Verticals, Inc. (company) — Filer of the 10-Q report
• 2024-12-31 (date) — End of the reporting period
• 2025-02-07 (date) — Filing date of the report
• Nashville, TN (location) — Company headquarters

FAQ

Key Financial Figures

• $0.0001 — which registered Class A Common Stock, $0.0001 Par Value IIIV Nasdaq Global Select Mar

Filing Documents

• iiiv-20241231.htm (10-Q) — 1292KB
• i3verticalsq1fy2025ex101.htm (EX-10.1) — 21KB
• i3verticalsq1fy2025ex311.htm (EX-31.1) — 12KB
• i3verticalsq1fy2025ex312.htm (EX-31.2) — 12KB
• i3verticalsq1fy2025ex321.htm (EX-32.1) — 6KB
• i3verticalsq1fy2025ex322.htm (EX-32.2) — 6KB
• 0001728688-25-000043.txt ( ) — 9527KB
• iiiv-20241231.xsd (EX-101.SCH) — 68KB
• iiiv-20241231_cal.xml (EX-101.CAL) — 126KB
• iiiv-20241231_def.xml (EX-101.DEF) — 440KB
• iiiv-20241231_lab.xml (EX-101.LAB) — 840KB
• iiiv-20241231_pre.xml (EX-101.PRE) — 667KB
• iiiv-20241231_htm.xml (XML) — 1341KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statement of Change in Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to the Unaudited Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 45

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 58

Controls and Procedures

Item 4. Controls and Procedures 59

OTHER INFORMATION

PART II. OTHER INFORMATION 59

Legal Proceedings

Item 1. Legal Proceedings 59

Risk Factors

Item 1A. Risk Factors 60

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 60

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 60

Other Information

Item 5. Other Information 60

Exhibits

Item 6. Exhibits 60

- FINANCIAL INFORMATION

PART I. - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 i3 Verticals, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands, except share amounts) December 31, September 30, 2024 2024 Assets Current assets Cash and cash equivalents $ 85,552 $ 86,541 Accounts receivable, net 51,342 55,988 Settlement assets 1,205 632 Prepaid expenses and other current assets 15,006 10,232 Total current assets 153,105 153,393 Property and equipment, net 7,583 8,677 Restricted cash 2,450 2,424 Capitalized software, net 57,249 58,592 Goodwill 280,678 280,678 Intangible assets, net 159,574 162,816 Deferred tax asset 48,481 48,445 Operating lease right-of-use assets 7,942 8,954 Other assets 9,167 6,696 Total assets $ 726,229 $ 730,675 Liabilities and equity Liabilities Current liabilities Accounts payable $ 7,402 $ 5,370 Current portion of long-term debt 26,223 26,223 Accrued expenses and other current liabilities 82,997 89,972 Settlement obligations 1,205 632 Deferred revenue 42,259 39,029 Current portion of operating lease liabilities 3,345 3,505 Total current liabilities 163,431 164,731 Long-term tax receivable agreement obligations 29,326 29,347 Operating lease liabilities, less current portion 5,423 6,317 Other long-term liabilities 16,915 14,921 Total liabilities 215,095 215,316 Commitments and contingencies (see Note 14) Stockholders' equity Preferred stock, par value $ 0.0001 per share, 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2024 and September 30, 2024 — — Class A common stock, par value $ 0.0001 per share, 150,000,000 shares authorized; 23,437,250 and 23,882,035 shares issued and outstanding as of December 31, 2024 and September 30, 2024, respectively 2 2 Class B common stock, par value $ 0.0001 per share, 40,000,000 shares authorized; 10,015,099 and 10,032,676 shares issued and outstanding as of December 31, 2024 and September 30, 2024, respectively 1 1 Additional paid-in capital 272,532 279,335 Acc

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View this 10-Q filing on SEC EDGAR