Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 59

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
16,950 Net (loss) income from discontinued operations attributed to non-controlling interest(1)1,663 (176)5,099 Net (loss) income from discontinued operations attributable to i3 Verticals, Inc.$(3)$3,885 $(368)$11,851 

17

i3 VERTICALS, Inc.NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(in thousands, except unit, share and per share amounts)

The Company has elected to not separately disclose discontinued operations on its condensed consolidated statement of cash flows. The following table presents cash flows from discontinued operations for major captions on the condensed consolidated financial statements:Nine months ended June 30,20252024Depreciation and amortization$— $8,649 Equity-based compensation$— $2,576 Adjustments to gain on sale of Merchant Services Business$661 $— Non-cash lease expense$— $803 Expenditures for property and equipment$— $(626)Expenditures for capitalized software$— $(817)Purchases of merchant portfolios and residual buyouts$— $(4,585)The following table presents significant non-cash investing and financing activities for major captions on the consolidated financial statements:Nine months ended June 30, 2024Right-of-use assets obtained in exchange for operating lease obligations$1,739 

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of PresentationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the reporting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for fair presentation of the unaudited condensed consolidated financial statements of the Company and its subsidiaries as of June 30, 2025 and for the three and nine months ended June 30, 2025 and 2024. The results of operations for the three and nine months ended June 30, 2025 and 2024 are not necessarily indicative of the operating results for the full year. As permitted by the rules and regulations of the SEC, certain information and disclosures otherwise