Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 166

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 166
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 common stockholders$2,056 $1,098 DenominatorWeighted average shares of Class A common stock outstanding23,551,352 23,267,290 Basic net income per share$0.09 $0.05 Diluted net income per share:NumeratorNet income attributable to Class A common stockholders$2,056 $1,098 Reallocation of net income assuming conversion of common units(1)800 331 Net income attributable to Class A common stockholders - diluted$2,856 $1,429 DenominatorWeighted average shares of Class A common stock outstanding23,551,352 23,267,290 Weighted average effect of dilutive securities(2)10,505,844 10,561,171 Weighted average shares of Class A common stock outstanding - diluted34,057,196 33,828,461 Diluted net income per share$0.08 $0.04 __________________________1.The reallocation of net income assuming conversion of common units represents the tax effected net income attributable to non-controlling interest using the effective income tax rates described in Note 10 above and assuming all common units of i3 Verticals, LLC were exchanged for Class A common stock at the beginning of the period. The common units of i3 Verticals, LLC held by the Continuing Equity Owners are potentially dilutive securities, and the computations of pro forma diluted net income per share assume that all common units of i3 Verticals, LLC were exchanged for shares of Class A common stock at the beginning of the period.2.For the three months ended December 31, 2024 and 2023, the following securities were excluded from the weighted average effect of dilutive securities in the computation of diluted net income per share of Class A common stock from consolidated operations:a.6,236,721 and 7,496,394 stock options for the three months ended December 31, 2024 and 2023, respectively, were excluded because the exercise price of these stock options exceeded the average market price of our Class A common stock during the period (“out-of-the-money”) and the effect of including them would have been anti-dilutive.

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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)

In September 2022 the Company made