Company: IIIV
Filing Date: 2025-03-21
Form Type: CORRESP
Source: 0001728688-25-000076
Chunk: 0

Company: i3 Verticals, Inc.
Filing Date: 2025-03-21
Form: CORRESP
Chunk 0
---
<div align='center'>March 21, 2025</div>

#### Via EDGAR and Federal Express
United States Securities and Exchange Commission

Division of Corporation Finance, Office of Trade & Services

100 F Street, NE

Washington, D.C. 20549

Attention: Scott Stringer

Nasreen Mohammed

#### Re: i3 Verticals, Inc.
Form 10-K for the Fiscal Year Ended September 30, 2024

#### Form 8-K dated February 6, 2025

#### File No. 001-38532
Ladies and Gentlemen:

This letter is provided in response to the comments of the Staff (the “

#### Staff
”) of the Securities and Exchange Commission (the “

#### Commission
”) conveyed in a letter to i3 Verticals, Inc., a Delaware corporation (the “

#### Company
”), dated March 12, 2025 in connection with the Staff’s review of the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2024, and the Company’s Current Report on Form 8-K filed February 6, 2025.

The Staff’s comments are set forth in italics in the numbered paragraphs below, followed by the Company’s responses.

Form 8-K dated February 6, 2025

Exhibit 99.1, page 1

#### 1.
We note you presentation of pro forma adjusted diluted earnings per share from continuing operations. The numerator used to compute this measure, the pro forma adjusted net income from continuing operations, includes the net income attributable to noncontrolling shareholders. The denominator, pro forma weighted average shares used in this calculation, includes Class A shares plus all dilutive potential shares. It appears that this calculation includes measures which substitute individually tailored recognition and measurement methods for those of GAAP. Please tell us how you

United States Securities and Exchange Commission

March 21, 2025

Page 2

considered Question 100.04 of the Non-GAAP Financial Measures Compliance and Disclosure Interpretations.

Response: We acknowledge the Staff’s comment and respectfully advise the Staff that we have included net income attributable to noncontrolling shareholders in the numerator of the pro forma adjusted diluted earnings per share calculation to be consistent with including all dilutive potential shares in the denominator of the calculation, as more specifically described below. The net income attributable to noncontrolling shareholders, included in the numerator consists entirely of common units of i3 Vertical