I3 Verticals, Inc. income statement
In fiscal 2025, I3 Verticals, Inc. reported revenue of $213m, up 11.5% on the year before, operating income of $3.8m (a 1.8% margin) and net income of $17.9m, or $0.72 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Sept 2016 | 2017Sept 2017 | 2018Sept 2018 | 2019Sept 2019 | 2020Sept 2020 | 2021Sept 2021 | 2022Sept 2022 | 2023Sept 2023 | 2024Sept 2024 | 2025Sept 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 200 | 263 | 324 | 376 | 150 | 224 | 188 | 190 | 191 | 213 | 218 |
| Cost of revenue | 141 | 189 | 215 | 243 | 0 | 0 | — | — | — | — | — |
| Gross profit | 46 | 57 | 83 | 107 | 123 | 195 | 283 | 333 | — | — | — |
| Selling, general and administrative | 20 | 27 | 41 | 63 | 78 | 135 | 157 | 106 | 101 | 115 | 114 |
| Operating income | 4 | 8 | 12 | 6 | 8 | −0 | −23 | −4 | 4 | 4 | 6 |
| Net interest income | −6 | −7 | −8 | −6 | −9 | −10 | −15 | −25 | — | — | — |
| Income before tax | −2 | 1 | −5 | 0 | −4 | −7 | −39 | −28 | −22 | 11 | 15 |
| Income tax | 0 | 0 | 0 | −0 | −3 | 1 | 0 | −4 | −5 | 5 | 4 |
| Net income | −2 | 1 | −7 | −3 | −0 | −4 | −17 | −1 | 113 | 18 | 9 |
| Diluted EPS | — | — | $0.08 | −$0.29 | −$0.03 | −$0.22 | −$0.77 | −$0.07 | $4.73 | $0.72 | $0.28 |
| Diluted shares (average) | — | — | 27m | 10m | 27m | 32m | 22m | 33m | 34m | 34m | 30m |
| EBITDA | 14 | 18 | 24 | 23 | 26 | 24 | −4 | 19 | 30 | 32 | 35 |
| Quarter | 2024 Q4Sept 2024 | 2025 Q1Dec 2024 | 2025 Q2Mar 2025 | 2025 Q3Jun 2025 | 2025 Q4Sept 2025 | 2026 Q1Dec 2025 | 2026 Q2Mar 2026 | 2026 Q3Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 51 | 52 | 54 | 52 | 55 | 53 | 58 | 53 |
| Selling, general and administrative | 25 | 26 | 26 | 33 | 29 | 27 | 29 | 29 |
| Operating income | 3 | 2 | 5 | −5 | 1 | 2 | 4 | −1 |
| Income before tax | −2 | 3 | 5 | −1 | 3 | 2 | 3 | 7 |
| Income tax | −9 | 0 | 3 | −0 | 2 | 1 | 0 | 1 |
| Net income | 118 | 2 | −0 | 13 | 3 | 0 | 1 | 3 |
| Diluted EPS | $4.93 | $0.08 | $0.00 | $0.50 | $0.12 | $0.02 | $0.07 | $0.18 |
| EBITDA | 10 | 9 | 12 | 2 | 9 | 8 | 11 | 6 |
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