i3 Verticals, Inc.
31.78-1.30 (-3.93%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · IIIV · USD
Key Stats
Market Cap
1.03BP/E (TTM)
66.21Basic EPS (TTM)
0.48Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
i3 Verticals posted Q3 FY2025 revenue of $51.9M, up 12.4% y/y from $46.2M, fueled by $2.2M from acquisitions and $2.9M in recurring streams, while software licenses added $0.4M. Gross margins held steady amid a 9.5% rise in other costs of services to $16.7M, but operating loss widened to $4.8M from $1.3M on higher SG&A, including $3.4M in M&A expenses. Diluted EPS from continuing operations dipped to -$0.03 from -$0.50, reconciling to 33.0M shares with no anti-dilution flagged. Cash ended at $55.5M with $400M revolver availability and zero debt after extinguishing notes; free cash flow not disclosed in the 10-Q. The Healthcare RCM sale closed May 2025 for $96.4M cash, recognizing no new goodwill. Litigation over school lunch fees poses a balanced risk.
8-K
Strong Q3 growth, buyback approved
i3 Verticals posted Q3 revenue of $51.9 million from continuing operations, up 12.4% year-over-year, driven by 24% SaaS growth and 11% payments increase, while adjusted EBITDA climbed 18% to $12.7 million. The board greenlit a $50 million share repurchase program, replacing the expiring one and running through September 2026 or full spend. Revenue growth signals steady recurring streams. Yet repurchases hinge on market liquidity.
10-Q
Q2 FY2025 results
i3 Verticals posted solid Q2 FY2025 results from continuing operations, with revenue climbing 8.8% y/y to $63.1M, fueled by 11.3% growth in the Public Sector segment to $52.4M on stronger recurring streams and software licenses, while Healthcare dipped 1.8% to $10.9M due to weather-hit volumes. Operating income surged 59.5% y/y to $4.0M, aided by lower interest expense after retiring exchangeable notes, though gross margins held steady around 65% amid reclassified service costs. Cash dipped to $7.7M after hefty tax payments tied to the prior Merchant Services sale, but revolver availability stood at $438M with debt at a lean $12M. The recent Healthcare RCM divestiture for $96M bolsters focus on Public Sector, yet litigation in Louisiana over cybersecurity lingers as a key risk.
8-K
i3 Verticals trims healthcare, boosts public sector
i3 Verticals posted Q2 revenue of $63.1 million, up 8.8% year-over-year, with adjusted EBITDA hitting $17.1 million, a 12.7% rise, as public sector strength offset healthcare softness. The company sold its Healthcare RCM business to Infinx for $96 million cash on May 5, 2025, shedding $9.1 million in quarterly revenue, while acquiring a utility billing firm for $9 million cash plus up to $5 million contingent on April 1. This pivot sharpens focus on public sector software. Revised FY2025 guidance targets $207-217 million revenue. Divestiture proceeds fuel M&A, yet integration risks loom.
8-K
Sells RCM unit for $96M
i3 Verticals sold its healthcare revenue cycle management business to Infinx for $96 million in cash on May 5, 2025, shedding a unit that drove 83% of its Healthcare Segment revenues in 2024. The deal streamlines operations toward public sector software, backed by a credit amendment trimming revolving commitments from $450 million to $400 million. Transition pacts ensure smooth handover. Risks linger in executing the pivot.
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