Company: IIIV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001728688-25-000089
Chunk: 154

Company: i3 Verticals, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 154
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 The Company had no significant cash flow activity pertaining to discontinued operations in the three and six months ended March 31, 2025. The following table presents cash flows from discontinued operations for major captions on the condensed consolidated financial statements:Six months ended March 31,20252024Depreciation and amortization$— $5,561 Equity-based compensation$— $1,905 Amortization of capitalized customer acquisition costs$— $430 Adjustments to loss (gain) on sale of Merchant Services Business$657 $— Non-cash lease expense$— $536 Expenditures for property and equipment$— $(386)Expenditures for capitalized software$— $(414)Purchases of merchant portfolios and residual buyouts$— $(4,214)The following table presents significant non-cash investing and financing activities for major captions on the consolidated financial statements:Six months ended March 31, 2024Consideration accrued for December 2023 residual buyout$252 Right-of-use assets obtained in exchange for operating lease obligations$742 

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 March 31, 2025 and for the three and six months ended March 31, 2025 and 2024. The results of operations for the three and six months ended March 31, 2025 and 2024 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 have been condensed or omitted from the summary of significant accounting policies. The Company believes the disclosures are adequate to make the information presented not misleading. It is recommended that these interim condensed consolidated financial statements be read in conjunction with the Company's consolidated financial statements and related footnotes for the years ended September 30,