NASDAQ : IIIV
i3 Verticals, Inc. — Financial statements
Technology · Software - Infrastructure · United States
Last price 17.58 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 462.74M
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Financial statements
i3 Verticals, Inc. (IIIV) reported revenue of 218.16M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 218.16M | 213.16M | 191.23M | 189.68M | 187.75M | 224.12M |
| Cost of Revenue | 68.73M | 66.59M | 60.52M | 54.81M | 12.83M | 57.71M |
| Gross Profit | 149.43M | 146.57M | 130.72M | 134.87M | 174.92M | 166.42M |
| Selling, General & Admin | 114.87M | 115.90M | 100.49M | 105.78M | 154.56M | 132.99M |
| Operating Expenses | 143.84M | 143.80M | 126.04M | 129.10M | 173.90M | 157.40M |
| Operating Income | 5.59M | 2.77M | 4.67M | 5.77M | 1.02M | 9.02M |
| Interest Expense | -4.41M | -2.30M | -29.26M | -25.13M | -14.78M | -9.80M |
| Other Non Operating Income (Expenses) | 4.42M | 9.41M | 998.00K | 929.00K | -991.00K | 495.00K |
| EBT Excluding Unusual Items | 5.60M | 9.88M | -23.59M | -18.43M | -14.74M | -289.00K |
| Merger & Restructuring Charges | -249.00K | -96.00K | -294.00K | -199.00K | -2.10M | -1.89M |
| Gain (Loss) on Sale of Investments | 9.90M | 295.00K | 2.10M | |||
| Gain (Loss) on Sale of Assets | 632.00K | 1.33M | ||||
| Other Unusual Items | -734.00K | -234.00K | 2.38M | -9.98M | -22.06M | -7.14M |
| Pretax Income | 15.15M | 10.88M | -21.51M | -28.32M | -38.91M | -7.22M |
| Income Tax Expense | 4.49M | 5.27M | -5.47M | -3.51M | 152.00K | 623.00K |
| Earnings From Continuing Operations | 10.66M | 5.62M | -16.05M | -24.81M | -39.06M | -7.84M |
| Earnings From Discontinued Operations | -4.29M | 14.25M | 124.19M | 15.80M | 15.84M | |
| Net Income to Company | 6.36M | 19.86M | 108.15M | -9.00M | -23.22M | -7.84M |
| Minority Interest in Earnings | 2.15M | -1.99M | 5.19M | 8.19M | 6.12M | 3.38M |
| Net Income | 8.52M | 17.87M | 113.34M | -811.00K | -17.10M | -4.46M |
| Net Income to Common | 8.52M | 17.87M | 113.34M | -811.00K | -17.10M | -4.46M |
| Shares Outstanding (Basic) | 22.21M | 23.91M | 23.42M | 23.14M | 22.25M | 20.99M |
| Shares Outstanding (Diluted) | 25.26M | 34.19M | 23.42M | 23.14M | 22.25M | 31.71M |
| EPS (Basic) | 0.38 | 0.75 | 4.84 | -0.04 | -0.77 | -0.21 |
| EPS (Diluted) | -0.57 | 0.56 | 4.84 | -0.04 | -0.77 | -0.22 |
| Free Cash Flow | 49.93M | 3.75M | 45.45M | 32.97M | 41.49M | 42.59M |
| Free Cash Flow Per Share | 1.98 | 0.11 | 1.94 | 1.43 | 1.86 | 1.34 |
| Gross Margin | 68.49% | 68.76% | 68.35% | 71.10% | 93.16% | 74.25% |
| Operating Margin | 2.56% | 1.30% | 2.44% | 3.04% | 0.55% | 4.02% |
| Profit Margin | 3.91% | 8.38% | 59.27% | -0.43% | -9.11% | -1.99% |
| Free Cash Flow Margin | 22.89% | 1.76% | 23.76% | 17.38% | 22.10% | 19.00% |
| EBITDA | 20.57M | 16.69M | 17.96M | 19.12M | 22.59M | 27.16M |
| EBITDA Margin | 9.43% | 7.83% | 9.39% | 10.08% | 12.03% | 12.12% |
| D&A For EBITDA | 14.98M | 13.91M | 13.29M | 13.36M | 21.57M | 18.14M |
| EBIT | 5.59M | 2.77M | 4.67M | 5.77M | 1.02M | 9.02M |
| EBIT Margin | 2.56% | 1.30% | 2.44% | 3.04% | 0.55% | 4.02% |
| Effective Tax Rate | 29.64% | 48.38% | ||||
| Advertising Expenses | 2.48M | 2.38M | 3.17M | 3.33M | 2.62M |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.65M | 66.67M | 86.53M | 3.10M | 3.49M | 3.64M |
| Cash & Short-Term Investments | 2.65M | 66.67M | 86.53M | 3.10M | 3.49M | 3.64M |
| Accounts Receivable | 48.52M | 58.47M | 50.78M | 50.78M | 53.33M | 38.50M |
| Receivables | 48.52M | 58.66M | 50.97M | 50.79M | 58.26M | 38.50M |
| Inventory | 2.80M | 2.52M | 2.42M | 2.04M | 4.12M | 2.22M |
| Prepaid Expenses | 9.47M | 6.10M | 5.14M | 3.79M | 6.48M | 5.72M |
| Other Current Assets | 36.00K | 3.68M | 8.33M | 25.82M | 11.46M | 8.04M |
| Total Current Assets | 63.47M | 137.62M | 153.39M | 85.54M | 83.81M | 58.12M |
| Property, Plant & Equipment | 11.12M | 11.76M | 14.62M | 21.87M | 23.35M | 20.38M |
| Goodwill | 282.28M | 248.47M | 242.99M | 267.98M | 353.64M | 292.24M |
| Other Intangible Assets | 204.58M | 184.11M | 194.73M | 221.21M | 248.26M | 213.08M |
| Long-Term Deferred Tax Assets | 46.59M | 49.06M | 48.45M | 52.51M | 43.46M | 49.99M |
| Long-Term Deferred Charges | 1.41M | 857.00K | 632.00K | 4.18M | ||
| Other Long-Term Assets | 8.11M | 5.98M | 75.64M | 234.47M | 13.42M | 13.29M |
| Total Assets | 626.98M | 638.41M | 730.67M | 884.42M | 770.31M | 651.80M |
| Accounts Payable | 4.38M | 6.25M | 4.89M | 6.37M | 9.34M | 7.87M |
| Accrued Expenses | 19.86M | 18.50M | 44.57M | 19.26M | 11.59M | 9.04M |
| Current Portion of Long-Term Debt | 26.22M | |||||
| Current Portion of Leases | 1.91M | 1.83M | 2.31M | 3.66M | 4.57M | 3.20M |
| Current Income Taxes Payable | 2.76M | 30.53M | 3.15M | |||
| Current Unearned Revenue | 25.29M | 37.68M | 38.36M | 32.78M | 31.98M | 29.86M |
| Other Current Liabilities | 1.20M | 3.67M | 17.86M | 28.24M | 53.79M | 46.55M |
| Total Current Liabilities | 52.64M | 70.69M | 164.73M | 93.46M | 111.26M | 96.51M |
| Long-Term Debt | 114.28M | 388.00M | 287.02M | 200.60M | ||
| Long-Term Leases | 2.69M | 2.96M | 4.89M | 8.97M | 13.99M | 11.96M |
| Long-Term Unearned Revenue | 3.28M | |||||
| Long-Term Deferred Tax Liabilities | 8.99M | 11.40M | 18.61M | 7.90M | 3.28M | |
| Other Long-Term Liabilities | 53.77M | 38.04M | 34.29M | 47.08M | 42.46M | 49.85M |
| Total Liabilities | 226.65M | 120.69M | 215.32M | 556.12M | 462.62M | 362.21M |
| Common Stock | 3.00K | 3.00K | 3.00K | 3.00K | 3.00K | 3.00K |
| Additional Paid-In Capital | 156.84M | 271.31M | 279.33M | 249.69M | 241.96M | 211.24M |
| Retained Earnings | 123.70M | 118.27M | 100.40M | -12.94M | -23.58M | -6.48M |
| Total Common Equity | 280.55M | 389.58M | 379.74M | 236.75M | 218.38M | 204.76M |
| Minority Interest | 119.78M | 128.14M | 135.62M | 91.55M | 89.31M | 84.83M |
| Shareholders' Equity | 400.33M | 517.72M | 515.36M | 328.30M | 307.69M | 289.59M |
| Total Liabilities & Equity | 626.98M | 638.41M | 730.67M | 884.42M | 770.31M | 651.80M |
| Total Debt | 118.87M | 4.79M | 33.42M | 400.63M | 305.58M | 215.77M |
| Net Cash (Debt) | -116.22M | 61.88M | 53.11M | -397.52M | -302.09M | -212.12M |
| Net Cash Per Share | -4.60 | 1.81 | 2.27 | -17.18 | -13.58 | -6.69 |
| Filing Date Shares Outstanding | 18.02M | 23.97M | 23.51M | 23.25M | 23.00M | 22.04M |
| Total Common Shares Outstanding | 18.24M | 23.98M | 23.88M | 23.25M | 22.99M | 22.03M |
| Working Capital | 10.83M | 66.94M | -11.34M | -7.92M | -27.45M | -38.39M |
| Book Value Per Share | 15.38 | 16.24 | 15.90 | 10.18 | 9.50 | 9.30 |
| Tangible Book Value | -206.32M | -43.00M | -57.98M | -252.44M | -383.52M | -300.56M |
| Tangible Book Value Per Share | -11.31 | -1.79 | -2.43 | -10.86 | -16.68 | -13.65 |
| Buildings | 2.74M | 3.72M | 4.71M | |||
| Machinery | 7.87M | 8.30M | 7.68M | 6.96M | 6.76M | |
| Leasehold Improvements | 1.29M | 2.26M | 2.32M | 2.94M | 2.79M |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 8.52M | 17.87M | 113.34M | -811.00K | -17.10M | -4.46M |
| Depreciation & Amortization | 14.98M | 13.91M | 13.29M | 13.36M | 21.57M | 18.14M |
| Other Amortization | 14.85M | 14.95M | 13.44M | 11.48M | 13.65M | 11.73M |
| Loss (Gain) From Sale of Assets | -661.00K | -25.96M | -205.58M | |||
| Asset Writedown & Restructuring Costs | 2.66M | |||||
| Loss (Gain) From Sale of Investments | -9.87M | -295.00K | -2.10M | |||
| Stock-Based Compensation | 18.14M | 18.34M | 26.34M | 27.88M | 26.23M | 20.86M |
| Other Operating Activities | 13.67M | 18.09M | 65.09M | 9.23M | 26.25M | 7.23M |
| Change in Accounts Receivable | -9.37M | -7.41M | 9.58M | -7.66M | -15.77M | -10.94M |
| Change in Accounts Payable | 1.68M | 1.00M | -3.24M | 1.67M | 1.54M | 3.88M |
| Change in Unearned Revenue | 5.83M | -1.77M | 2.03M | -1.32M | 2.04M | 5.15M |
| Change in Other Net Operating Assets | -5.39M | -45.28M | 2.22M | -32.17M | -14.65M | -4.96M |
| Operating Cash Flow | 52.38M | 5.69M | 48.41M | 37.17M | 43.76M | 44.53M |
| Capital Expenditures | -2.46M | -1.94M | -2.96M | -4.20M | -2.27M | -1.94M |
| Sale of Property, Plant & Equipment | 448.00K | 1.50M | 618.00K | |||
| Cash Acquisitions | -60.00M | -11.00M | -19.10M | -102.00M | -100.72M | -142.49M |
| Sale (Purchase) of Intangibles | -8.43M | -8.21M | -17.37M | -14.36M | -10.22M | -7.98M |
| Investment in Securities | 295.00K | 600.00K | 3.20M | |||
| Other Investing Activities | 96.10M | 434.96M | -1.25M | -443.00K | -104.00K | |
| Investing Cash Flow | -70.44M | 76.46M | 396.15M | -121.52M | -113.05M | -149.31M |
| Long-Term Debt Issued | 58.37M | 388.19M | 365.02M | 335.72M | 302.82M | |
| Long-Term Debt Repaid | -84.60M | -747.30M | -281.53M | -255.10M | -198.42M | |
| Net Debt Issued (Repaid) | 114.28M | -26.22M | -359.11M | 83.49M | 80.62M | 104.39M |
| Issuance of Common Stock | 279.00K | 300.00K | 25.00K | 180.00K | 18.39M | 1.58M |
| Repurchase of Common Stock | -141.62M | -41.90M | -708.00K | -490.00K | -643.00K | -731.00K |
| Other Financing Activities | -5.25M | -36.59M | -7.57M | -10.19M | -23.24M | -3.14M |
| Financing Cash Flow | -32.31M | -104.41M | -367.36M | 72.98M | 75.12M | 102.10M |
| Net Cash Flow | -50.37M | -22.26M | 77.20M | -11.37M | 5.83M | -2.67M |
| Free Cash Flow | 49.93M | 3.75M | 45.45M | 32.97M | 41.49M | 42.59M |
| Free Cash Flow Margin | 22.89% | 1.76% | 23.76% | 17.38% | 22.10% | 19.00% |
| Free Cash Flow Per Share | 1.98 | 0.11 | 1.94 | 1.43 | 1.86 | 1.34 |
| Levered Free Cash Flow | 36.88M | -34.07M | 79.33M | 3.04M | 24.34M | 62.66M |
| Unlevered Free Cash Flow | 38.77M | -33.59M | 96.45M | 17.23M | 27.77M | 63.34M |
| Cash Interest Paid | 2.65M | 931.00K | 29.49M | 21.48M | 8.98M | 4.43M |
| Cash Income Tax Paid | 2.96M | 34.87M | 7.33M | 3.24M | 1.08M | 287.00K |
| Change in Working Capital | -7.24M | -53.46M | 10.59M | -39.47M | -26.84M | -6.87M |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 462.74M | 775.05M | 506.24M | 491.44M | 445.93M | 532.11M |
| Enterprise Value | 578.97M | 852.72M | 977.29M | 982.36M | 848.78M | 837.13M |
| Last Close Price | 17.58 | 32.46 | 21.31 | 21.14 | 20.03 | 24.21 |
| PE Ratio | 43.36 | 4.47 | ||||
| Forward PE | 14.87 | 29.33 | 20.10 | 12.44 | 12.95 | 20.02 |
| PS Ratio | 2.12 | 3.64 | 2.65 | 2.59 | 2.38 | 2.37 |
| PB Ratio | 1.14 | 1.50 | 0.98 | 1.50 | 1.45 | 1.84 |
| P/FCF Ratio | 9.27 | 206.51 | 11.14 | 14.91 | 10.75 | 12.49 |
| P/OCF Ratio | 8.83 | 136.12 | 10.46 | 13.22 | 10.19 | 11.95 |
| PEG Ratio | 74.33 | 146.65 | 1.60 | 1.60 | 0.64 | 1.10 |
| EV/Sales Ratio | 2.65 | 4.00 | 5.11 | 5.18 | 4.52 | 3.73 |
| EV/EBITDA Ratio | 28.14 | 51.09 | 54.41 | 51.37 | 37.57 | 30.82 |
| EV/EBIT Ratio | 103.63 | 307.29 | 209.22 | 170.34 | 829.70 | 92.86 |
| EV/FCF Ratio | 11.60 | 227.21 | 21.50 | 29.80 | 20.46 | 19.65 |
| Debt / Equity Ratio | 0.30 | 0.01 | 0.07 | 1.22 | 0.99 | 0.74 |
| Debt / EBITDA Ratio | 5.14 | 0.26 | 1.61 | 18.17 | 11.21 | 6.84 |
| Debt / FCF Ratio | 2.38 | 1.28 | 0.73 | 12.15 | 7.37 | 5.07 |
| Net Debt / Equity Ratio | 0.29 | -0.12 | -0.10 | 1.21 | 0.98 | 0.73 |
| Net Debt / EBITDA Ratio | 5.65 | -3.71 | -2.96 | 20.79 | 13.37 | 7.81 |
| Net Debt / FCF Ratio | 2.33 | -16.49 | -1.17 | 12.06 | 7.28 | 4.98 |
| Asset Turnover | 0.35 | 0.31 | 0.24 | 0.23 | 0.26 | 0.42 |
| Inventory Turnover | 26.55 | 26.96 | 27.13 | 17.80 | 4.05 | 32.70 |
| Quick Ratio | 0.97 | 1.77 | 0.83 | 0.58 | 0.51 | 0.44 |
| Current Ratio | 1.21 | 1.95 | 0.93 | 0.92 | 0.75 | 0.60 |
| Return on Equity (ROE) | 2.34% | 1.09% | -3.80% | -7.80% | -13.08% | -2.96% |
| Return on Assets (ROA) | 0.56% | 0.25% | 0.36% | 0.44% | 0.09% | 1.07% |
| Return on Invested Capital (ROIC) | 0.76% | 0.31% | 0.79% | 0.86% | 0.18% | 2.21% |
| Return on Capital Employed (ROCE) | 1.00% | 0.50% | 0.80% | 0.70% | 0.20% | 1.60% |
| Earnings Yield | -3.22% | 2.31% | 22.39% | -0.17% | -3.84% | -0.84% |
| FCF Yield | 10.79% | 0.48% | 8.98% | 6.71% | 9.30% | 8.00% |
| Buyback Yield / Dilution | 19.93% | -45.97% | -1.22% | -3.99% | 29.84% | -15.62% |