Company: IIIV
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001728688-25-000122
Chunk: 133

Company: i3 Verticals, Inc.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 8
Chunk 133
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 STATEMENT OF CHANGES IN EQUITY(In thousands, except share amounts)

Class A Common StockClass B Common StockAdditional Paid-In CapitalRetained Earnings (Deficit)Non-Controlling InterestTotal EquitySharesAmountSharesAmountBalance at September 30, 202423,882,035 $2 10,032,676 $1 $279,335 $100,397 $135,624 $515,359 Equity-based compensation— — — — 18,344 — — 18,344 Net income— — — — — 17,873 8,630 26,503 Distributions to non-controlling interest holders— — — — — — (3,021)(3,021)Redemption of common units in i3 Verticals, LLC1,281,739 — (1,281,739)— 18,301 — (18,301)— Recapitalization from contribution to i3 Verticals, LLC— — (369,256)— (5,689)— 5,689 — Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis— — — — 1,778 — — 1,778 Exercise or release of equity-based awards393,232 — — — (3,261)— — (3,261)Repurchases of Class A common stock(1,573,881)— — — (37,979)— — (37,979)Allocation of equity to non-controlling interests— — — — 481 — (481)— Balance at September 30, 202523,983,125 $2 8,381,681 $1 $271,310 $118,270 $128,140 $517,723 

See Notes to the Consolidated Financial Statements

78

i3 Verticals, Inc.CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)

Year ended September 30,202520242023Cash flows from operating activities:Net income (loss)$26,503 $175,130 $(2,652)Adjustments to reconcile net income (loss) to net cash provided by operating activities:Depreciation and amortization29