Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 43

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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Item 1.    Financial Statements

3

i3 Verticals, Inc.CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(In thousands, except share amounts)

March 31,September 30,20252024AssetsCurrent assetsCash and cash equivalents$7,749 $86,541 Accounts receivable, net56,716 55,988 Settlement assets67 632 Prepaid expenses and other current assets15,467 10,232 Total current assets79,999 153,393 Property and equipment, net7,555 8,677 Restricted cash2,450 2,424 Capitalized software, net55,175 58,592 Goodwill280,678 280,678 Intangible assets, net156,331 162,816 Deferred tax asset49,778 48,445 Operating lease right-of-use assets7,807 8,954 Other assets6,586 6,696 Total assets$646,359 $730,675 Liabilities and equityLiabilitiesCurrent liabilitiesAccounts payable$4,319 $5,370 Current portion of long-term debt— 26,223 Accrued expenses and other current liabilities22,733 89,972 Settlement obligations67 632 Deferred revenue37,229 39,029 Current portion of operating lease liabilities3,340 3,505 Total current liabilities67,688 164,731 Long-term debt, less current portion12,000 — Long-term tax receivable agreement obligations33,526 29,347 Operating lease liabilities, less current portion4,721 6,317 Other long-term liabilities14,765 14,921 Total liabilities132,700 215,316 Commitments and contingencies (see Note 14)Stockholders' equityPreferred stock, par value $0.0001 per share, 10,000,000 shares authorized; 0 shares issued and outstanding as of March 31, 2025 and September 30, 2024— — Class A common stock, par value $0.0001 per share, 150,000,000 shares authorized; 24,386,990 and 23,882,035 shares issued and outstanding as of March 31, 2025 and September 30, 2024, respectively2 2 Class B common stock, par value $0