Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 226

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 226
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 Net of Income Taxes

We had $19.4 million in net income from discontinued operations, net of income tax, for the three months ended June 30, 2025 compared to $6.1 million in net income from discontinued operations, net of income tax, for the three months ended June 30, 2024. See Note 2 to our condensed consolidated financial statements for additional information and detail on the financial results of discontinued operations.

The net income from discontinued operations, net of income tax, for the three months ended June 30, 2025 reflects the gain on the sale of the Healthcare RCM Business of $26.0 million and a complete quarter of business activity for the Healthcare RCM Business, including revenue of $3.6 million, operating expenses of $5.8 million and a provision for income taxes of $4.3 million. The net income from discontinued operations, net of income tax, for the three months ended June 30, 2024 included a complete quarter of business activity for both the Merchant Services Business and the Healthcare RCM Business, including revenue of $48.4 million, operating expenses of $40.9 million and a provision for income taxes of $1.4 million.

64

Nine Months Ended June 30, 2025 Compared to Nine Months Ended June 30, 2024 

The following table presents our historical results of operations for the periods indicated:Nine Months Ended June 30,Change(in thousands)20252024Amount%Revenue$158,257 $139,909 $18,348 13.1 %Operating expensesOther costs of services (excluding depreciation and amortization)(1)48,889 44,423 4,466 10.1 %Selling, general and administrative(1)85,779 75,576 10,203 13.5 %Depreciation and amortization20,848 18,794 2,054 10.9 %Change in fair value of contingent consideration440 171 269 157.3 %Total operating expenses155,956 138,964 16,992 12.2 %Income from operations2,301 945 1,356 143.5 %Other (income) expensesInterest expense1,932 22,307 (20,375)(91.3)%Other income(7,020)(2,150)(4,870)226.5 %Total other (income)