Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 193

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 193
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 of i3 Verticals, LLC by the Continuing Equity Owners will result in a change in ownership and reduce or increase the amount recorded as non-controlling interest and increase or decrease additional paid-in capital when i3 Verticals, LLC has positive or negative net assets, respectively.As of March 31, 2025 and 2024, respectively, i3 Verticals, Inc. owned 24,386,990 and 23,416,518 of i3 Verticals, LLC's Common Units, representing a 73.4% and 70.0% economic ownership interest in i3 Verticals, LLC.

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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 summarizes the impact on equity due to changes in the Company's ownership interest in i3 Verticals, LLC:Six Months Ended March 31,20252024Net income attributable to non-controlling interest$1,975 $1,908 Transfers (from) to non-controlling interests:Distributions to non-controlling interest holders283 — Redemption of common units in i3 Verticals, LLC(11,730)(384)Recapitalization from contribution to i3 Verticals, LLC5,689 — Allocation of equity (from) to non-controlling interests(3,356)3,750 Net transfers (from) to non-controlling interests(9,114)3,366 Change from net income attributable to non-controlling interests and net transfers to non-controlling interests$(7,139)$5,274 See Note 15 for information regarding certain recapitalization actions the Company and i3 Verticals, LLC effected during the three months ended March 31, 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