Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 35

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 interests— — — — 293 — (293)— Balance at December 31, 202423,437,250 $2 10,015,099 $1 $272,532 $102,453 $136,146 $511,134 

Class A Common StockClass B Common StockAdditional Paid-In CapitalRetained Earnings (Deficit)Non-Controlling InterestTotal EquitySharesAmountSharesAmountBalance at September 30, 202323,253,272 $2 10,093,394 $1 $249,688 $(12,944)$91,549 $328,296 Equity-based compensation— — — — 6,508 — — 6,508 Net income— — — — — 1,098 438 1,536 Exercise of equity-based awards25,898 — — — (10)— — (10)Sale of exchangeable note hedges— — — — 1,483 — — 1,483 Repurchases of warrants— — — — (657)— — (657)Allocation of equity to non-controlling interests— — — — (2,450)— 2,450 — Balance at December 31, 202323,279,170 $2 10,093,394 $1 $254,562 $(11,846)$94,437 $337,156 

See Notes to the Interim Condensed Consolidated Financial Statements

6

i3 Verticals, Inc.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(In thousands)

Three months ended December 31,20242023Cash flows from operating activities:Net income$3,108 $1,536 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization7,684 9,739 Equity-based compensation3,814 6,508 Amortization of debt issuance costs280 414 (Benefit from) provision for deferred income taxes(715)182 Non-cash lease expense864 1,184 Changes in non-cash contingent consideration expense from original estimate1,377 (237)Other non-cash adjustments to net income(320)513 Changes