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i3 Verticals, Inc. provides enterprise software and services solutions to public sector entities in the United States and Canada. The company offers digital solutions for dynamic processes to plan, coordinate, evaluate, record, and provide up to date information within court systems; E-Filing and revenue cycle management solutions for courts; solutions for computer aided dispatch, records management, evidence management, jail management, mobile solutions, and livescan; and software solutions for vehicle title and registration, driver's license and permit management, and motor carrier compliance for departments of transportation. It also provides digital customer engagement platform, comprising web, mobile, chat, and voice options; billing and back-office management software solutions and services; solutions for school lunch programs, including meal account management, point of sale, menu planning, nutritional analysis, food inventory and free, and reduced meal applications, as well as school event solutions, such as ticketing and concessions. In addition, the company offers government fund accounting software; digital land records solutions, including AI indexing of information; computer assisted mass appraisal solutions; licensing and permitting solutions that include automation every step of the application, renewal, and payment process; and tax and revenue collection management solutions. i3 Verticals, Inc. was founded in 2012 and is based in Nashville, Tennessee.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
i3 Verticals provides vertical-specific payment processing and SaaS to municipal, education, healthcare, utility and retail customers in the U.S. Long-term growth may be supported by secular digital-payments adoption, cross-selling recurring software and payment services, and bolt-on acquisitions that build scale, which could appeal to investors seeking diversified transaction and subscription revenue.
Primary risks include acquisition integration and execution, regulatory and compliance exposure in payments, competitive pressure from larger processors, and sensitivity to transaction volumes and leverage.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Income before tax | 10.88M | -19.01M | -3.85M | -18.21M | -7.22M |
| Minority interest | -8.63M | -61.79M | 1.84M | 6.12M | -3.38M |
| Net income | 17.87M | 113.34M | -0.81M | -23.22M | -7.84M |
| Selling general administrative | 114.66M | 170.69M | 219.74M | 193.79M | 142.01M |
| Selling and marketing expenses | - | 2.54M | - | - | - |
| Gross profit | 118.67M | 211.35M | 289.69M | 244.50M | 166.42M |
| Reconciled depreciation | 29.84M | 37.45M | 36.46M | 29.42M | 24.42M |
| Ebit | 13.18M | 9.32M | 32.05M | 20.29M | 9.72M |
| Ebitda | 41.08M | 33.23M | 68.52M | 49.71M | 34.14M |
| Depreciation and amortization | 27.90M | 23.90M | 36.46M | 29.42M | 24.42M |
| Non operating income net other | - | - | - | -0.99M | 2.60M |
| Operating income | 4.01M | 6.85M | 22.71M | 20.29M | 9.72M |
| Other operating expenses | 209.15M | 223.07M | 336.75M | 296.58M | 217.00M |
| Interest expense | 2.30M | 29.26M | 25.13M | 14.78M | 9.80M |
| Tax provision | 5.27M | -5.67M | -1.20M | 5.01M | 0.62M |
| Net interest income | -2.30M | -29.26M | -25.13M | -14.78M | -9.80M |
| Income tax expense | 5.27M | -5.67M | -1.20M | 5.01M | 0.62M |
| Total revenue | 213.16M | 229.92M | 370.24M | 317.86M | 224.12M |
| Total operating expenses | 114.66M | 204.50M | 256.20M | 223.21M | 159.29M |
| Cost of revenue | 94.49M | 18.57M | 80.55M | 73.37M | 57.71M |
| Total other income expense net | 6.87M | -25.87M | -12.22M | -38.50M | -16.94M |
| Net income from continuing ops | 5.62M | -13.35M | -2.65M | -23.22M | -7.84M |
| Net income applicable to common shares | - | - | - | -17.10M | -4.46M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Total assets | 638.41M | 730.67M | 881.49M | 770.31M | 651.80M |
| Intangible assets | 184.11M | 221.41M | 289.53M | 248.26M | 213.08M |
| Other current assets | 9.78M | 8.25M | 17.32M | 7.54M | 15.98M |
| Total liab | 120.69M | 215.32M | 553.20M | 462.62M | 362.21M |
| Total stockholder equity | 389.58M | 379.74M | 236.75M | 218.38M | 204.76M |
| Other current liab | 24.94M | 62.44M | 42.61M | 65.37M | 55.58M |
| Common stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Capital stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Retained earnings | 118.27M | 100.40M | -12.94M | -23.58M | -6.48M |
| Other liab | - | - | - | 50.35M | 53.13M |
| Good will | 248.47M | 280.68M | 409.56M | 353.64M | 292.24M |
| Other assets | - | - | - | 61.26M | 67.98M |
| Cash | 66.67M | 86.54M | 3.11M | 3.49M | 3.64M |
| Total current liabilities | 70.69M | 164.73M | 93.46M | 111.26M | 96.51M |
| Current deferred revenue | 37.68M | 38.36M | 35.27M | 31.98M | 29.86M |
| Net debt | -58.92M | -48.23M | 396.91M | 302.09M | 212.12M |
| Short term debt | 1.83M | 28.53M | 4.51M | 4.57M | 3.20M |
| Short long term debt | - | 26.22M | - | - | - |
| Short long term debt total | 7.75M | 38.31M | 400.02M | 305.58M | 215.77M |
| Other stockholder equity | 271.31M | 279.33M | 249.69M | 241.96M | 211.24M |
| Property plant equipment | - | - | - | 23.35M | 20.38M |
| Total current assets | 137.62M | 153.39M | 85.54M | 83.81M | 58.12M |
| Net tangible assets | - | - | - | -383.52M | -300.56M |
| Net receivables | 58.47M | 56.18M | 65.11M | 53.33M | 38.50M |
| Long term debt | - | - | 385.08M | 287.02M | 200.60M |
| Inventory | 2.52M | 2.42M | - | 4.12M | 2.22M |
| Accounts payable | 6.25M | 4.89M | 11.06M | 9.34M | 7.87M |
| Noncontrolling interest in consolidated entity | - | - | - | 89.31M | 84.83M |
| Common stock total equity | - | - | - | 0.00M | 0.00M |
| Retained earnings total equity | - | - | - | -23.58M | -6.48M |
| Non currrent assets other | 7.14M | 6.70M | 18.11M | 17.80M | 17.98M |
| Non current assets total | 500.79M | 577.28M | 795.95M | 686.50M | 593.68M |
| Capital lease obligations | 4.79M | 9.82M | 14.94M | 18.56M | 15.16M |
| Long term debt total | - | - | - | 287.02M | 200.60M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Investments | 76.46M | 396.15M | -121.52M | -113.05M | 3.20M |
| Change to liabilities | - | - | - | 3.58M | 18.70M |
| Total cashflows from investing activities | 76.46M | 396.15M | - | -113.05M | -156.31M |
| Net borrowings | -26.22M | -360.35M | - | 80.62M | 104.39M |
| Total cash from financing activities | -104.41M | -367.36M | 75.65M | 73.03M | 102.10M |
| Change to operating activities | - | - | - | -12.56M | -2.72M |
| Net income | 17.87M | 175.13M | -1.84M | -23.22M | -7.84M |
| Change in cash | -19.85M | 77.20M | -11.37M | 5.83M | -7.44M |
| Begin period cash flow | 86.53M | 12.40M | 23.77M | 17.93M | 20.60M |
| End period cash flow | 66.67M | 89.60M | -11.37M | 23.77M | 13.16M |
| Total cash from operating activities | 5.69M | 48.41M | 34.50M | 45.85M | 46.77M |
| Issuance of capital stock | - | 0.00M | - | 17.69M | 0.00M |
| Depreciation | 29.84M | 37.45M | 28.14M | 29.42M | 24.42M |
| Other cashflows from investing activities | 97.59M | 0.52M | - | -110.95M | -157.58M |
| Change to inventory | - | - | - | - | 0.91M |
| Change to account receivables | -7.41M | 9.58M | -7.66M | -15.77M | -10.94M |
| Sale purchase of stock | -37.60M | -0.71M | - | 18.39M | 1.32M |
| Other cashflows from financing activities | -40.63M | -6.80M | -121.52M | 310.44M | 300.52M |
| Change to netincome | - | - | - | 52.48M | 25.64M |
| Capital expenditures | 1.94M | 14.96M | 0.00M | 12.45M | 8.20M |
| Change receivables | - | - | - | -15.77M | -10.94M |
| Cash flows other operating | - | - | - | -20.64M | -8.66M |
| Cash and cash equivalents changes | - | - | - | 5.83M | -7.44M |
| Change in working capital | -53.46M | 17.16M | 5.93M | -6.68M | -0.99M |
| Stock based compensation | 18.34M | 26.34M | 27.88M | 26.23M | 20.86M |
| Other non cash items | -11.88M | -208.10M | -19.68M | 17.50M | 10.61M |
| Free cash flow | 3.75M | 33.45M | 34.50M | 33.40M | 38.57M |
Sector: Technology Industry: Software - Infrastructure
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| IIIV i3 Verticals Inc |
-0.06 0.31% |
19.01 | 54.70 | 19.16 | 1.75 | 1.00 | 1.83 | 8.33 |
| MSFT Microsoft Corporation |
10.60 2.00% |
541.21 | 37.32 | 29.94 | 13.03 | 12.45 | 13.06 | 24.59 |
| ORCL Oracle Corporation |
2.37 2.04% |
118.47 | 21.96 | 17.89 | 5.91 | 7.08 | 7.82 | 14.89 |
| CRWD Crowdstrike Holdings Inc |
6.21 2.86% |
223.11 | 4849.80 | 188.68 | 46.01 | 47.24 | 43.89 | 559.34 |
| FTNT Fortinet Inc |
2.92 2.46% |
121.77 | 60.27 | 43.86 | 16.80 | 80.50 | 16.11 | 43.33 |
i3 Verticals, Inc. provides enterprise software and services solutions to public sector entities in the United States and Canada. The company offers digital solutions for dynamic processes to plan, coordinate, evaluate, record, and provide up to date information within court systems; E-Filing and revenue cycle management solutions for courts; solutions for computer aided dispatch, records management, evidence management, jail management, mobile solutions, and livescan; and software solutions for vehicle title and registration, driver's license and permit management, and motor carrier compliance for departments of transportation. It also provides digital customer engagement platform, comprising web, mobile, chat, and voice options; billing and back-office management software solutions and services; solutions for school lunch programs, including meal account management, point of sale, menu planning, nutritional analysis, food inventory and free, and reduced meal applications, as well as school event solutions, such as ticketing and concessions. In addition, the company offers government fund accounting software; digital land records solutions, including AI indexing of information; computer assisted mass appraisal solutions; licensing and permitting solutions that include automation every step of the application, renewal, and payment process; and tax and revenue collection management solutions. i3 Verticals, Inc. was founded in 2012 and is based in Nashville, Tennessee.
40 Burton Hills Boulevard, Nashville, TN, United States, 37215
615 465 4487
1202
| Name | Title | Year Born |
|---|---|---|
| Mr. Gregory S. Daily | Chairman & CEO | 1960 |
| Mr. Frederick Stanford | Pres | 1962 |
| Mr. Clay M. Whitson | CFO & Director | 1957 |
| Mr. Paul Christians | Chief Operating Officer | NA |
| Mr. Geoffrey C. Smith | Principal Accounting Officer & VP of Fin. | 1987 |
| Mr. Pete Panagakis | Chief Technology Officer | NA |
| Mr. Paul Maple | Gen. Counsel & Sec. | 1974 |
| Ms. Diana Day-Cartee | Head of Enterprise Customer Experience | NA |
| Ms. Amber Murphy | Head of Enterprise HR | NA |
| Christopher Laisure | Pres of Public Sector | NA |
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