i3 Verticals 10-Q Report Reveals Financial Insights

By Tamara Parker • Saturday, May 11 15:13 • Permanent Link

i3 Verticals, Inc. has recently released its 10-Q report, providing a detailed insight into the company's financial condition and operational performance. The company primarily offers integrated payment and software solutions to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services, and provides a wide range of payment processing services, software platforms, and professional services to various vertical markets.

In the 10-Q report, i3 Verticals, Inc. discussed its economic trends, liquidity, and recent acquisitions. The report highlighted that as of March 31, 2024, the company had $3.1 million in cash and cash equivalents and $103.8 million of available capacity under its 2023 Senior Secured Credit Facility, with compliance with financial covenants. The report also detailed the acquisitions completed during the six months ended March 31, 2024, including the acquisition of a business to expand its software offerings for a total purchase consideration of $1.3 million.

Furthermore, the report delved into the company's revenue and expenses, outlining that i3 Verticals, Inc. generates revenue from software and related services, volume-based payment processing fees, and various fixed transaction or service fees. It also discussed key performance indicators used to evaluate the company's performance, including annualized recurring revenue (ARR), software and related services as a percentage of total revenue, payment volume, and processing margin.

Additionally, the report provided an executive overview of the company's strategic vertical markets, emphasizing its focus on delivering seamless integrated software and services to customers. It also mentioned the company's exploration of a potential sale of certain assets related to its Merchant Services business and discussed the economic uncertainty and potential impact on its financial results due to inflationary pressures, elevated interest rate levels, and geopolitical situations.

Today the company's shares have moved -9.6% to a price of $20.05. Check out the company's full 10-Q submission here.

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