Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 153

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 153
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 during the year ended September 30, 2024 that were not considered incremental direct costs to transact the sale, were approximately $2,626 and were expensed as incurred. These costs were primarily incurred during the second and third fiscal quarters of the year ended September 30, 2024 and include fees for third-party advisory, consulting, legal and professional services, as well as other items associated with the Merchant Services Transactions. The expenses are reflected within selling, general and administrative expenses within the Company's condensed consolidated statements of operations.The financial results of the Merchant Services Business are presented as income from discontinued operations, net of income taxes on the Company’s consolidated statements of operations. The following table presents financial results of Merchant Services Business for the three and six months ended March 31, 2025 and 2024:Three months ended March 31,Six months ended March 31,2025202420252024Revenue$— $36,574 $— $73,510 Operating expensesOther costs of services— 16,477 — 32,786 Selling, general and administrative— 10,286 — 21,180 Depreciation and amortization— 2,876 — 5,561 Total operating expenses— 29,639 — 59,527 Income from operations— 6,935 — 13,983 Other expensesInterest expense, net— 36 — 56 Other expense404 — 657 — Total other expenses404 36 657 56 (Loss) income before income taxes from discontinued operations(404)6,899 (657)13,927 (Benefit from) provision for income taxes(78)1,249 (117)2,526 Net (loss) income from discontinued operations(326)5,650 (540)11,401 Net (loss) income from discontinued operations attributed to non-controlling interest(99)2,063 (175)3,831 Net (loss) income from discontinued operations attributable to i3 Verticals, Inc.$(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.