Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 169

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 169
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quisition-related costs for this acquisition amounted to approximately $8 and were expensed as incurred.

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS

A summary of the Company's prepaid expenses and other current assets as of March 31, 2025 and September 30, 2024 is as follows:March 31,September 30,20252024Inventory$2,220 $2,423 Prepaid licenses8,672 5,148 Prepaid insurance1,005 129 Notes receivable — current portion195 195 Other current assets3,375 2,337 Prepaid expenses and other current assets$15,467 $10,232 

25

i3 VERTICALS, Inc.NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(in thousands, except unit, share and per share amounts)

6. GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill are as follows:Public SectorHealthcareOtherTotalBalance at September 30, 2024$233,850 $46,828 $— $280,678 Goodwill attributable to preliminary purchase price adjustments during the six months ended March 31, 2025— — — — Balance at March 31, 2025$233,850 $46,828 $— $280,678 Intangible assets consisted of the following as of March 31, 2025:CostAccumulatedAmortizationCarryingValueAmortization Life and MethodFinite-lived intangible assets:Customer relationships$199,720 $(44,789)$154,931 9 to 25 years – accelerated or straight-lineTrade names4,741 (3,480)1,261 2 to 5 years – straight-lineNon-compete agreements and other intangible assets359 (238)121 3 to 8 years – straight-lineTotal finite-lived intangible assets204,820 (48,507)156,313 Indefinite-lived intangible assets:Trademarks18 — 18 Total identifiable intangible assets(1)$204,838 $(48,507)$156,331 Amortization expense from continuing operations for intangible assets amounted to $3,242 and $6,485 for the three and six months ended March 31, 2025, and $3,113 and