Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 191

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 191
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 to delivering integrated solutions across the healthcare ecosystem, catering to providers and payers, with a strong emphasis on enhancing process efficiency and ensuring compliance. The Other category includes corporate overhead expenses, technology resources shared across segments and inter-segment eliminations.The Company has since updated its intercompany transactions and allocations to adhere to the updated segment structure, which includes Public Sector intercompany, Healthcare intercompany, and intercompany locations within its business. As described above, these transactions include, but are not limited to, resources shared across segments and also exist to eliminate revenue and cost between components that should not be included on a consolidated basis. Although our intercompany structure and allocations have changed due to our updated segments, this reporting is consistent with our accounting policies from prior periods.

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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 primarily uses adjusted EBITDA margin to measure operating performance and for purposes of making decisions about allocating resources to the Company's business segments. The following is a summary of reportable segment operating performance for continuing operations for the three and six months ended March 31, 2025 and 2024.For the Three Months Ended March 31,For the Six Months Ended March 31,2025202420252024Public Sector adjusted EBITDA margin(1)41 %41 %40 %40 %Healthcare adjusted EBITDA margin(1)16 %16 %23 %20 %Public Sector revenue$52,405 $47,097 $101,190 $90,595 Healthcare revenue10,857 11,053 24,028 22,633 Other revenue(203)(182)(468)(206)Total revenue$63,059 $57,968 $124,750 $113,022 Public sector adjusted EBITDA21,576 19,233 40,819 36,592 Healthcare adjusted EBITDA1,722 1,775 5,470 4,569 Corporate, eliminations and other(6,156)(5,794)(12,775)(11,959)Stock compensation expense(3,932)(5,022)(7,746)(10,380)M&A-related expenses(570)(714)(1,116)(958)Other taxes and one-time expenses(455)(89)(707