Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 93

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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/mProvision for (benefit from) income taxes523 (1,094)1,617 n/mNet income (loss) from continuing operations3,322 (4,215)7,537 n/mNet (loss) income from discontinued operations, net of income taxes(214)5,751 (5,965)n/mNet income3,108 1,536 1,572 102.3 %Net income (loss) from continuing operations attributable to non-controlling interest1,128 (1,330)2,458 n/mNet (loss) income from discontinued operations attributable to non-controlling interest(76)1,768 (1,844)n/mNet income attributable to non-controlling interest1,052 438 614 140.2 %Net income (loss) from continuing operations attributable to i3 Verticals, Inc.2,194 (2,885)5,079 n/mNet (loss) income from discontinued operations attributable to i3 Verticals, Inc.(138)3,983 (4,121)n/mNet income attributable to i3 Verticals, Inc.$2,056 $1,098 $958 87.2 %

n/m = not meaningful

_________________________________________

1.Refer to Note 3 for discussion of the change in the current and prior period presentation. 

50

Revenue

Revenue increased $6.6 million, or 12.1%, to $61.7 million for the three months ended December 31, 2024 from $55.1 million for the three months ended December 31, 2023. This increase included incremental revenue from an acquisition within the Public Sector vertical of $1.2 million, net of intercompany eliminations. The remaining increase was primarily driven by an increase of $2.9 million in recurring revenues, an increase of $2.3 million in software license revenue.

Revenue within Public Sector increased $5.3 million, or 12.2%, to $48.8 million for the three months ended December 31, 2024 from $43.5 million for the three months ended December 31, 2023. This increase included incremental revenue from an acquisition of $1.2 million, net of intercompany eliminations. The remaining increase was primarily driven by an increase in recurring revenues of $3.0 million and an increase of $0.7 million in software license revenue. 

Revenue