Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 119

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 119
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,421 6,109 13,312 n/mNet income (loss)18,425 (8,298)26,723 n/mNet loss from continuing operations attributable to non-controlling interest(586)(2,608)2,022 (77.5)%Net income from discontinued operations attributable to non-controlling interest6,129 1,855 4,274 n/mNet income (loss) attributable to non-controlling interest5,543 (753)6,296 n/mNet loss from continuing operations attributable to i3 Verticals, Inc.(410)(11,799)11,389 (96.5)%Net income from discontinued operations attributable to i3 Verticals, Inc.13,292 4,254 9,038 n/mNet income (loss) attributable to i3 Verticals, Inc.$12,882 $(7,545)$20,427 n/m

n/m = not meaningful

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1.Refer to Note 3 for discussion of the change in the current and prior period presentation. 

62

Revenue

Revenue increased $5.7 million, or 12.4%, to $51.9 million for the three months ended June 30, 2025 from $46.2 million for the three months ended June 30, 2024. This increase included incremental revenue from current and prior year acquisitions of $2.2 million. The remaining increase was primarily driven by an increase of $2.9 million in recurring revenues and an increase of $0.4 million software license revenue.

Other Costs of Services

Other costs of services increased $1.4 million, or 9.5%, to $16.7 million for the three months ended June 30, 2025 from $15.3 million for the three months ended June 30, 2024. The increase was primarily driven by an increase in internal and external personnel costs of $0.9 million an increase in software costs of $0.7 million for the three months ended June 30, 2025 from the three months ended June 30, 2024.

Selling, General and Administrative Expenses

Selling, general and administrative expenses increased $7.0 million, or 26.8%, to $33.0 million for the three months ended June 30, 2025 from $26.0 million for the three months ended June 30, 2024. The increase