Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 163

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 163
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 ended June 30,2025202420252024Revenue$— $38,383 $— $111,893 Operating expensesOther costs of services (excluding depreciation and amortization)— 18,116 — 50,902 Selling, general and administrative— 10,305 — 31,484 Depreciation and amortization— 3,088 — 8,649 Total operating expenses— 31,509 — 91,035 Income from operations— 6,874 — 20,858 Other expensesInterest expense, net— — — 56 Other expense4 — 661 — Total other expenses4 — 661 56 (Loss) income before income taxes from discontinued operations(4)6,874 (661)20,802 Provision for (benefit from) income taxes— 1,326 (117)3,852 Net (loss) income from discontinued operations(4)5,548 (544)16,950 Net (loss) income from discontinued operations attributed to non-controlling interest(1)1,663 (176)5,099 Net (loss) income from discontinued operations attributable to i3 Verticals, Inc.$(3)$3,885 $(368)$11,851 

17

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$— $8,649 Equity-based compensation$— $2,576 Adjustments to gain on sale of Merchant Services Business$661 $— Non-cash lease expense$— $803 Expenditures for property and equipment$— $(626)Expenditures for capitalized software$— $(817)Purchases of merchant portfolios and residual buyouts$— $(4,585)The following table presents significant non-cash investing and financing activities for major captions on the consolidated financial statements:Nine months ended June 30, 2024Right-of-use assets obtained in exchange for operating lease obligations$