Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 44

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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Item 1.    Financial Statements

3

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

June 30,September 30,20252024AssetsCurrent assetsCash and cash equivalents$55,544 $86,525 Accounts receivable, net49,445 50,779 Settlement assets18 632 Prepaid expenses and other current assets12,770 9,973 Current assets held for sale— 5,484 Total current assets117,777 153,393 Property and equipment, net7,342 8,288 Restricted cash250 2,424 Capitalized software, net49,893 53,983 Goodwill248,195 242,988 Intangible assets, net138,708 140,748 Deferred tax asset49,092 48,445 Operating lease right-of-use assets5,159 6,331 Other assets6,858 6,666 Long-term assets held for sale— 67,409 Total assets$623,274 $730,675 Liabilities and equityLiabilitiesCurrent liabilitiesAccounts payable$4,497 $4,886 Current portion of long-term debt— 26,223 Accrued expenses and other current liabilities21,915 88,252 Settlement obligations18 632 Deferred revenue29,758 38,361 Current portion of operating lease liabilities2,023 2,305 Current liabilities held for sale— 4,072 Total current liabilities58,211 164,731 Long-term tax receivable agreement obligations35,117 29,347 Operating lease liabilities, less current portion3,367 4,890 Other long-term liabilities15,458 14,921 Long-term liabilities held for sale— 1,427 Total liabilities112,153 215,316 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 June 30, 2025 and September 30, 2024— — Class A common stock, par value $0.0001 per share, 150,000,000 shares authorized; 23,780,915 and 23,882,035 shares issued and outstanding as