Mon, Nov 25, 9:47 PM (115 days ago)
**i3 Verticals, Inc. (IIIV) Financial Summary for FY 2024** i3 Verticals, Inc. reported a revenue increase of 1.4% to $229.9 million for the year ending September 30, 2024, driven by growth in its Public Sector and Healthcare segments. The company achieved net income of $175.1 million, a significant recovery from a net loss of $2.7 million in FY 2023, primarily due to a $205.6 million gain from the sale of its Merchant Services Business. Operating expenses decreased by 3.1% to $223.1 million, with notable reductions in contingent consideration and selling, general, and administrative costs. The company’s operating expenses included an increase in costs related to software and services, reflecting ongoing investments in technology. Earnings per share (EPS) from continuing operations was a loss of $0.38, while EPS from discontinued operations was $5.22. Strategically, i3 Verticals focuses on organic growth and acquisitions within the Public Sector and Healthcare verticals, having completed multiple acquisitions since its inception. The future outlook includes leveraging its strong cash position of $86.5 million and $450 million in available credit for growth initiatives. Key risks include competition, regulatory compliance, and reliance on third-party providers. The company is positioned to navigate these challenges with a robust financial structure and a commitment to enhancing its integrated software solutions.