Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 9

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 9
---
 Operations 

As a result of the sale of the Merchant Services Business and the Healthcare RCM Business, the historical results of these two disposed businesses have been reflected as discontinued operations in our condensed consolidated financial statements. Prior period results of operations and balance sheet information have been recast to reflect this presentation, and the discussion below relates to our continuing operations after giving effect to the reclassification for the Merchant Services Business and Healthcare RCM Business as discontinued operations. 

Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024 

The following table presents our historical results of operations for the periods indicated:Three Months Ended June 30,Change(in thousands)20252024Amount%Revenue$51,901 $46,183 $5,718 12.4 %Operating expensesOther costs of services (excluding depreciation and amortization)(1)16,733 15,287 1,446 9.5 %Selling, general and administrative(1)33,018 26,048 6,970 26.8 %Depreciation and amortization6,989 6,157 832 13.5 %Change in fair value of contingent consideration(26)1 (27)n/mTotal operating expenses56,714 47,493 9,221 19.4 %Loss from operations(4,813)(1,310)(3,503)267.4 %Other (income) expensesInterest expense806 7,906 (7,100)(89.8)%Other income(4,601)— (4,601)n/mTotal other (income) expenses(3,795)7,906 (11,701)n/mLoss before income taxes(1,018)(9,216)8,198 (89.0)%(Benefit from) provision for income taxes(22)5,191 (5,213)n/mNet loss from continuing operations(996)(14,407)13,411 (93.1)%Net income from discontinued operations, net of income taxes19,421 6,109 13,312 n/mNet income (loss)18,425 (8,298)26,723 n/mNet loss from continuing operations attributable to non-controlling interest(586)(2,608)2,022 (77.5)%Net income from discontinued operations attributable to non-controlling interest6,129 1,855 4