Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 40

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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loss) income from discontinued operations(214)5,751 Net (loss) income from discontinued operations attributed to non-controlling interest(76)1,768 Net (loss) income from discontinued operations attributable to i3 Verticals, Inc.$(138)$3,983 

10

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. The Company had no significant cash flow activity pertaining to discontinued operations in the three months ended December 31, 2024. The following table presents cash flows from discontinued operations for major captions on the condensed consolidated financial statements:Three months ended December 31, 2023Depreciation and amortization$2,685 Equity-based compensation$1,150 Amortization of capitalized customer acquisition costs$211 Non-cash lease expense$261 Expenditures for property and equipment$(189)Expenditures for capitalized software$(160)Purchases of merchant portfolios and residual buyouts$(2,883)The following table presents significant non-cash investing and financing activities for major captions on the consolidated financial statements:Three months ended December 31, 2023Consideration accrued for December 2023 residual buyout$476 

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of PresentationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the reporting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for fair presentation of the unaudited condensed consolidated financial statements of the Company and its subsidiaries as of December 31, 2024 and for the three months ended December 31, 2024 and 2023. The results of operations for the three months ended December 31, 2024 and 2023 are not necessarily indicative of the operating results for the full year. As permitted by the rules and regulations of the SEC, certain information and disclosures otherwise included in the notes to the consolidated financial statements