Company: IIIV
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001728688-25-000108
Chunk: 58

Company: i3 Verticals, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 is reimbursed through the Payroc TSA and Payroc PSA are reported in selling, general and administrative expenses within the Company's condensed consolidated statements of operations. Income under the Payroc TSA and Payroc PSA during the three and nine months ended June 30, 2025 was $318 and $1,274, respectively.Aggregate costs incurred related to the Merchant Services Transactions 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 included in income from discontinued operations, net of income taxes on the Company’s consolidated statements of operations. 

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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 following table presents financial results of Merchant Services Business for the three and nine months ended June 30, 2025 and 2024:Three months ended June 30,Nine months 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)