Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 53

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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— 657 — Total other expenses404 36 657 56 (Loss) income before income taxes from discontinued operations(404)6,899 (657)13,927 (Benefit from) provision for income taxes(78)1,249 (117)2,526 Net (loss) income from discontinued operations(326)5,650 (540)11,401 Net (loss) income from discontinued operations attributed to non-controlling interest(99)2,063 (175)3,831 Net (loss) income from discontinued operations attributable to i3 Verticals, Inc.$(227)$3,587 $(365)$7,570 

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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 Company had no significant cash flow activity pertaining to discontinued operations in the three and six months ended March 31, 2025. The following table presents cash flows from discontinued operations for major captions on the condensed consolidated financial statements:Six months ended March 31,20252024Depreciation and amortization$— $5,561 Equity-based compensation$— $1,905 Amortization of capitalized customer acquisition costs$— $430 Adjustments to loss (gain) on sale of Merchant Services Business$657 $— Non-cash lease expense$— $536 Expenditures for property and equipment$— $(386)Expenditures for capitalized software$— $(414)Purchases of merchant portfolios and residual buyouts$— $(4,214)The following table presents significant non-cash investing and financing activities for major captions on the consolidated financial statements:Six months ended March 31, 2024Consideration accrued for December 2023 residual buyout$252 Right-of-use assets obtained in exchange for operating lease obligations$742 

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of PresentationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the reporting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all