Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 160

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 160
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 2024:Three months ended June 30,Nine months ended June 30,2025202420252024Revenue$3,601 $9,993 $22,463 $29,426 Operating expensesOther costs of services (excluding depreciation and amortization)3,023 6,109 14,553 17,834 Selling, general and administrative2,491 2,450 7,317 7,530 Depreciation and amortization275 812 1,940 2,422 Change in fair value of contingent consideration10 (19)1,302 (716)Total operating expenses5,799 9,352 25,112 27,070 (Loss) income from operations(2,198)641 (2,649)2,356 Other income(25,960)— (25,998)— Income before income taxes from discontinued operations23,762 641 23,349 2,356 Provision for income taxes4,337 80 4,620 355 Net income from discontinued operations19,425 561 18,729 2,001 Net income from discontinued operations attributed to non-controlling interest6,130 192 6,041 710 Net income from discontinued operations attributable to i3 Verticals, Inc.$13,295 $369 $12,688 $1,291 

14

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

The Company has elected to not separately disclose discontinued operations on its condensed consolidated statement of cash flows. The following table presents cash flows from discontinued operations for major captions on the condensed consolidated financial statements:Nine months ended June 30,20252024Depreciation and amortization$1,940 $2,422 Equity-based compensation$3,112 $2,134 Gain on sale of Healthcare RCM Business$(25,960)$— Non-cash lease expense$702 $917 Increase (decrease) in non-cash contingent consideration expense from original estimate$1,302 $(716)Contingent consideration paid in excess of original estimates$(700)$— Expenditures for property and equipment$(156)$(176)Expenditures for capitalized software$(263)$(321)Proceed