Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 67

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 present a disaggregation of the Company's revenue from contracts with customers for continuing operations by product by segment. The Company's products are defined as follows:•Software and related services — Includes SaaS, transaction-based fees, ongoing software maintenance and support, software licenses and other professional services related to our software offerings;•Proprietary payments — Includes discount fees and other related fixed transaction or service fees; and•Other — Includes sales of equipment, non-software related professional services, bundled performance obligations for software sales and equipment leasing and other revenues.Three months ended June 30,Nine months ended June 30,2025202420252024Software and related services revenue$36,245 $31,963 $110,528 $95,428 Proprietary payments revenue13,100 11,797 40,594 37,923 Other revenue2,556 2,423 7,135 6,558 Total revenue$51,901 $46,183 $158,257 $139,909 The tables below present a disaggregation of the Company's revenue from contracts with customers from continuing operations by timing of transfer of goods or services. The Company's revenue included in each category are defined as follows: •Revenue earned over time — Includes SaaS, sales of software licenses sold as symbolic intellectual property, professional services, ongoing support, discount fees or other stand-ready obligations; and•Revenue earned at a point in time — Includes software licenses sold as functional intellectual property, equipment, or point in time service fees that are not stand-ready obligations.Three months ended June 30,Nine months ended June 30,2025202420252024Revenue earned over time$47,543 $42,958 $142,457 $130,371 Revenue earned at a point in time4,358 3,225 15,800 9,538 Total revenue$51,901 $46,183 $158,257 $139,909 Contract AssetsThe Company bills for certain software and related services sales and fixed fee professional services upon pre-determined milestones in the contracts. Therefore, the Company may have contract assets other than trade accounts receivable for performance obligations that are partially completed, which would typically represent consulting services provided before a milestone is completed in a contract. Additionally, contract assets also include software licenses sold as a right to use license but paid for under a non-cancellable subscription model. Under this structure, the license revenue is recognized