Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 129

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 129
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 by a decrease in contingent consideration paid in excess of original estimates of $5.8 million, for the nine months ended June 30, 2025 compared to the nine months ended June 30, 2024. 

68

Cash Flow from Investing Activities 

Net cash used in investing activities decreased $95.5 million to net cash provided by investing activities of $78.8 million for the nine months ended June 30, 2025 from net cash used in investing activities of $16.8 million for the nine months ended June 30, 2024. The largest driver of the change to cash provided by investing activities was $96.1 million in proceeds from the sale of the Healthcare RCM Business during the nine months ended June 30, 2025. Additional contributions to the decrease in net cash used in investing activities were a decrease of $4.6 million in purchases of merchant portfolios and residual buyouts, a decrease of $2.9 million in expenditures for capitalized software, a decrease of $0.9 million in expenditures for property and equipment, and an increase of $0.9 million in proceeds from the sale of property and equipment during the nine months ended June 30, 2025 compared to the nine months ended June 30, 2024. These increases to net cash provided by investing activities are partially offset by an increase of $9.9 million in cash used in acquisitions (net of cash acquired) during the nine months ended June 30, 2025 compared to the nine months ended June 30, 2024.

Cash Flow from Financing Activities 

Net cash used in financing activities increased $89.1 million to $104.3 million net cash used in financing activities for the nine months ended June 30, 2025 from $15.2 million net cash used by financing activities for the nine months ended June 30, 2024. The increase in net cash used in financing activities was driven by a decrease in net borrowings from in excess of payments on the revolving credit facility of $78.9 million during the nine months ended June 30, 2025 from the nine months ended June 30, 2024, as well as an increase of $23.7 million in payments for required distributions on behalf of members for tax obligations and an increase in payments for employees' tax withholdings from net settled stock option exercises and RSU releases of $3.5 million. Additionally, during the nine months ended June 30, 2025