Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 48

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 48
---
384 — (384)— Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis— — — — 42 — — 42 Exercise of equity-based awards96,630 — — — (223)— — (223)Allocation of equity to non-controlling interests— — — — (1,300)— 1,300 — Balance at March 31, 202423,416,518 $2 10,052,676 $1 $259,242 $(9,968)$96,823 $346,100 

See Notes to the Interim Condensed Consolidated Financial Statements

7

i3 Verticals, Inc.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(In thousands)

Six months ended March 31,20252024Cash flows from operating activities:Net income$3,877 $4,884 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization15,524 19,808 Equity-based compensation7,746 12,285 Amortization of debt issuance costs530 676 Gain on repurchase of exchangeable notes— (2,397)Loss on sale of exchangeable senior note hedges— 245 Gain on repurchases of warrants— (105)Provision for (benefit from) deferred income taxes1,859 (1,238)Adjustments to loss (gain) on sale of Merchant Services Business657 — Non-cash lease expense1,162 2,349 Changes in non-cash contingent consideration expense from original estimate1,758 (527)Other non-cash adjustments to net income(366)668 Changes in operating assets:Accounts receivable25 5,517 Prepaid expenses and other current assets(3,145)(3,385)Other assets(454)(802)Changes in operating liabilities:Accounts payable(1,020)896 Accrued expenses and other current liabilities(40,839)(8,621)Acquisition escrow obligations26 (1,848)Deferred revenue(1,030)2,257 Operating lease liabilities(1,776)(2,364)Other long-term liabilities(101)2 Contingent consideration paid in excess of original estimates(