Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 32

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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Item 1.    Financial Statements

3

i3 Verticals, Inc.CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(In thousands, except share amounts)

December 31,September 30,20242024AssetsCurrent assetsCash and cash equivalents$85,552 $86,541 Accounts receivable, net51,342 55,988 Settlement assets1,205 632 Prepaid expenses and other current assets15,006 10,232 Total current assets153,105 153,393 Property and equipment, net7,583 8,677 Restricted cash2,450 2,424 Capitalized software, net57,249 58,592 Goodwill280,678 280,678 Intangible assets, net159,574 162,816 Deferred tax asset48,481 48,445 Operating lease right-of-use assets7,942 8,954 Other assets9,167 6,696 Total assets$726,229 $730,675 Liabilities and equityLiabilitiesCurrent liabilitiesAccounts payable$7,402 $5,370 Current portion of long-term debt26,223 26,223 Accrued expenses and other current liabilities82,997 89,972 Settlement obligations1,205 632 Deferred revenue42,259 39,029 Current portion of operating lease liabilities3,345 3,505 Total current liabilities163,431 164,731 Long-term tax receivable agreement obligations29,326 29,347 Operating lease liabilities, less current portion5,423 6,317 Other long-term liabilities16,915 14,921 Total liabilities215,095 215,316 Commitments and contingencies (see Note 14)Stockholders' equityPreferred stock, par value $0.0001 per share, 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2024 and September 30, 2024— — Class A common stock, par value $0.0001 per share, 150,000,000 shares authorized; 23,437,250 and 23,882,035 shares issued and outstanding as of December 31, 2024 and September 30, 2024, respectively2 2 Class B common stock, par value $0.0001 per share,