Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 205

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 205
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 June 30, 2025 and 2024, respectively, i3 Verticals, Inc. owned 23,780,915 and 23,442,698 of i3 Verticals, LLC's Common Units, representing a 73.8% and 70.0% economic ownership interest in i3 Verticals, LLC.The following table summarizes the impact on equity due to changes in the Company's ownership interest in i3 Verticals, LLC:Nine Months Ended June 30,20252024Net income attributable to non-controlling interest$7,518 $1,155 Transfers (from) to non-controlling interests:Distributions to non-controlling interest holders(347)(839)Redemption of common units in i3 Verticals, LLC(17,070)(576)Recapitalization from contribution to i3 Verticals, LLC5,689 — Allocation of equity (from) to non-controlling interests(3,588)4,960 Net transfers (from) to non-controlling interests(15,316)3,545 Change from net income attributable to non-controlling interests and net transfers (from) to non-controlling interests$(7,798)$4,700 See Note 15 for information regarding certain recapitalization actions the Company and i3 Verticals, LLC effected during the nine months ended June 30, 2025 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 and nine months ended June