Company: IIIV
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001728688-25-000122
Chunk: 103

Company: i3 Verticals, Inc.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 7
Chunk 103
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 and a complete year of business activity for both the Merchant Services Business and the Healthcare RCM Business, including revenue of $185.0 million, operating expenses of $158.3 million and a provision for income taxes of $41.1 million.

58

Year Ended September 30, 2024 Compared to Year Ended September 30, 2023

The following table presents our historical results of operations for the periods indicated:Year ended September 30,Change(in thousands)20242023Amount%Revenue$191,232 $189,681 $1,551 0.8 %Operating expensesOther costs of services (excluding depreciation and amortization)(1)60,517 54,811 5,706 10.4 %Selling, general and administrative(1)100,785 105,982 (5,197)(4.9)%Depreciation and amortization25,553 23,320 2,233 9.6 %Change in fair value of contingent consideration22 9,979 (9,957)n/mTotal operating expenses186,877 194,092 (7,215)(3.7)%Income (loss) from operations4,355 (4,411)8,766 n/mOther expensesInterest expense29,263 25,128 4,135 16.5 %Other income(3,395)(1,224)(2,171)n/mTotal other expenses25,868 23,904 1,964 n/mLoss before income taxes(21,513)(28,315)6,802 n/mBenefit from income taxes(5,468)(3,507)(1,961)n/mNet loss from continuing operations(16,045)(24,808)8,763 Net income from discontinued operations, net of income taxes191,175 22,156 169,019 Net income (loss)175,130 (2,652)177,782 n/mNet loss from continuing operations attributable to non-controlling interest(5,191)(8,192)3,001 Net income from discontinued operations attributable to non-controlling interest66,980 6,351 60,629 Net income (loss) attributable to non-controlling interest61,789 (1,841)63,630 n/mNet loss from continuing operations attributable to i3 Verticals, Inc.(10,854)(16,616)5,