Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 92

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 92
---
 “Segment Reporting.” Adjusted EBITDA margin for our public sector segment was 39% and 40% for the three months ended December 31, 2024 and 2023, respectively. Further, Adjusted EBITDA margin for our healthcare segment was 28% and 24% for the three months ended December 31, 2024 and 2023, respectively. For additional information regarding Adjusted EBITDA and Adjusted EBITDA margin, see Note 16. Adjusted EBITDA and Adjusted EBITDA margin, when presented on a consolidated basis in our other public disclosures, are non-GAAP financial measures. 

49

Results of Operations 

As a result of the sale of the Merchant Services Business, the historical results of the Merchant Services Business have been reflected as discontinued operations in our condensed consolidated financial statements. Prior period results of operations and balance sheet information have been recast to reflect this presentation, and the discussion below relates to our continuing operations after giving effect to the reclassification for the Merchant Services Business as discontinued operations.

Three Months Ended December 31, 2024 Compared to Three Months Ended December 31, 2023 

The following table presents our historical results of operations for the periods indicated:Three Months Ended December 31,Change(in thousands)20242023Amount%Revenue$61,691 $55,054 $6,637 12.1 %Operating expensesOther costs of services (excluding depreciation and amortization)(1)21,031 19,577 1,454 7.4 %Selling, general and administrative(1)28,900 27,175 1,725 6.3 %Depreciation and amortization7,684 7,054 630 8.9 %Change in fair value of contingent consideration1,377 (237)1,614 n/mTotal operating expenses58,992 53,569 5,423 10.1 %Income from operations2,699 1,485 1,214 81.8 %Other (income) expensesInterest expense680 6,687 (6,007)(89.8)%Other (income) expense(1,826)107 (1,933)n/mTotal other (income) expenses(1,146)6,794 (7,940)n/mIncome (loss) before income taxes3,845 (5,309)9,154 n