Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 156

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 156
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 Merchant Services Business, the Company has reclassified certain expenses to better align with the primary industry in which it now operates. During the first quarter of fiscal year 2025, the Company revised its presentation of certain expenses in the Condensed Consolidated Statements of Operations from selling, general and administrative expenses to other costs of services. The Company reclassified personnel costs related to installation of the Company's software, conversion of client data, training client personnel, customer support activities and various other services provided directly to customers from selling, general and administrative to other costs of services. The Company also reclassified certain hosting and related software costs for directly supporting the Company's customers from selling, general and administrative to other costs of services.Comparative amounts have been reclassified to conform to the current period presentation. This change has no impact on the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Cash Flows or Condensed Consolidated Statement of Changes in Equity.

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

This change has no impact on the total operating expenses or earnings per share as illustrated below. The following tables present the effects of the change in presentation within the Condensed Consolidated Statements of Operations:For the Three Months Ended March 31, 2024As Previously Reported(1)AdjustmentAs AdjustedOperating expensesOther costs of services4,703 16,444 21,147 Selling, general and administrative43,876 (16,444)27,432 __________________________1.This column is presented after giving effect to discontinued operations of the Merchant Services Business as discussed in Note 2.For the Six Months Ended March 31, 2024As Previously Reported(1)AdjustmentAs AdjustedOperating expensesOther costs of services8,818 31,906 40,724 Selling, general and administrative86,513 (31,906)54,607 __________________________1.This column is presented after giving effect to discontinued operations of the Merchant Services Business as discussed in Note 2.InventoriesInventories consist of point-of-sale equipment to be sold to customers and are stated at the lower of cost, determined on a weighted average or specific basis, or net realizable value. Inventories were $2,220 and $2,423 at March 31, 2025 and September 30, 202