Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 133

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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12,677 Other revenue1,885 389 — 2,274 Total revenue$43,498 $11,580 $(24)$55,054 The tables below present a disaggregation of the Company's revenue from contracts with customers from continuing operations by timing of transfer of goods or services by segment. The Company's revenue included in each category are defined as follows: •Revenue earned over time — Includes SaaS, professional services, ongoing support, discount fees or other stand-ready obligations; and•Revenue earned at a point in time — Includes software licenses sold as functional intellectual property, equipment, or point in time service fees that are not stand-ready obligations.For the Three Months Ended December 31, 2024Public SectorHealthcareOtherTotalRevenue earned over time$45,665 $11,468 $(266)$56,867 Revenue earned at a point in time3,120 1,703 1 4,824 Total revenue$48,785 $13,171 $(265)$61,691 

17

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

For the Three Months Ended December 31, 2023Public SectorHealthcareOtherTotalRevenue earned over time$41,405 $11,440 $(15)$52,830 Revenue earned at a point in time2,093 140 (9)2,224 Total revenue$43,498 $11,580 $(24)$55,054 Contract AssetsThe Company bills for certain software and related services sales and fixed fee professional services upon pre-determined milestones in the contracts. Therefore, the Company may have contract assets other than trade accounts receivable for performance obligations that are partially completed, which would typically represent consulting services provided before a milestone is completed in a contract. Additionally, contract assets also include software licenses sold as a right to use license but paid for under a subscription model. Under this structure, the license revenue is recognized upfront while a portion of the revenue is unbilled. Unbilled amounts associated with these professional services and software licenses sold under the subscription model are presented as accounts receivable as the Company has an unconditional right to payment for services performed.As of December 31, 2024 and September 30, 2024, the Company’s contract assets from contracts with customers was $8,