Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 162

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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Three Months Ended December 31,20242023Net income attributable to non-controlling interest$1,052 $438 Transfers (from) to non-controlling interests:Redemption of common units in i3 Verticals, LLC(237)— Allocation of equity (from) to non-controlling interests(293)2,450 Net transfers (from) to non-controlling interests(530)2,450 Change from net income attributable to non-controlling interests and net transfers to non-controlling interests$522 $2,888 See Note 20 for information regarding certain recapitalization actions the Company and i3 Verticals, LLC effected subsequent to December 31, 2024 in order to reduce excess cash held at the Company as a result of its “Up-C” structure, which adjusted the Company’s and the Continuing Equity Holders’ respective ownership interests in i3 Verticals, LLC.

18. EARNINGS PER SHARE

Basic earnings per share of Class A common stock is computed by dividing net income available to i3 Verticals, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net income available to i3 Verticals, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities.

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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)

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock from continuing operations for the three months ended December 31, 2024 and 2023:Three Months Ended December 31,20242023Basic net income (loss) per share:NumeratorNet income (loss)$3,322 $(4,215)Less: Net income (loss) attributable to non-controlling interest1,128 (1,330)Net income (loss) attributable to Class A common stockholders$2,194 $(2,885)DenominatorWeighted average shares of Class A common stock outstanding23,551,352 23,267,290 Basic net income (loss) per share(1)$0.09 $(0.12)Diluted net income per share:NumeratorNet income