IIIV on Nasdaq

i3 Verticals, Inc.

American prepackaged software services company, incorporated in Delaware. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

$213.2MRevenue, fiscal 20252
$17.9MNet income, fiscal 20252

Compare with Upland Software, Inc., Exzeo Group, Inc. or ForgeRock, or pick any stock.

  • TickerIIIV on Nasdaq1
  • IndustryServices-Prepackaged Software1
  • HeadquartersNashville, Tennessee1
  • Incorporated inDE3
  • Business address40 Burton Hills Blvd., Suite 415, Nashville, Tn 372153
  • Filer categoryAccelerated filer3

On September 20, 2024, i3 Verticals, LLC, and i3 Holdings Sub, Inc., a wholly-owned subsidiary of i3 Verticals, LLC (“Corporation Seller,” and collectively with i3 Verticals, LLC, the “Sellers”) completed the transactions (such closing, the “Closing”) contemplated by that certain Securities Purchase Agreement dated as of June 26, 2024 (the “Merchant Services Purchase Agreement”), by and among i3 Verticals, LLC, Corporation Seller, the Company (solely for the purpose of providing a guaranty of the obligations of Sellers as set forth in the Purchase Agreement), Payroc Buyer, LLC (“Buyer”), and Payroc WorldAccess, LLC (solely for the purpose of providing a guaranty of the obligations of Buyer as set forth in the Merchant Services Purchase Agreement), the entry into which Merchant Services Purchase Agreement was previously disclosed in a Current Report on Form 8-K filed by the Company on Jun…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

1.8%Operating margin2
8.4%Net margin2
11.5%Revenue growth, 20252
4.6%Return on equity2
0.00×Debt to equity2
$3.8MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

License and Service brought in 70% of the revenue i3 Verticals, Inc. broke down this way in fiscal 2025.

  1. License and Service$149.0M270%up 13% from 2024
  2. Proprietary Payments Revenue$54.1M225%up 8% from 2024
  3. Other Revenue$10.1M25%up 9% from 2024
Products and services by year
Products and services202320242025
License and Service$134.4M$131.9M$149.0M
Proprietary Payments Revenue$46.5M$50.1M$54.1M
Other Revenue$8.8M$9.2M$10.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin54¢$114.7M
  • Other costs35¢$75.4M
  • Income tax2¢$5.3M
  • Profit8¢$17.9M

Out of $213.2M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending5¢$1.9M
  • Share buybacks95¢$37.6M

Out of $5.7M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue567892$213.2M in 2025−34% since 2018
0$100.0M$200.0M$300.0M$400.0M2018: $323.5M$323.5M20182019: $376.3M$376.3M2019+16%2020: $150.1M$150.1M2020−60%2021: $224.1M$224.1M2021+49%2022: $187.8M$187.8M2022−16%2023: $189.7M$189.7M2023+1%2024: $191.2M$191.2M2024+1%2025: $213.2M$213.2M2025+11%
Gross profit5678$333.3M in 2023+301% since 2018
0$100.0M$200.0M$300.0M$400.0M2018: $83.2M$83.2M20182019: $106.9M$106.9M2019+28%2020: $123.4M$123.4M2020+15%2021: $195.3M$195.3M2021+58%2022: $282.7M$282.7M2022+45%2023: $333.3M$333.3M2023+18%
Operating income567892$3.8M in 2025−69% since 2018
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2018: $12.4M$12.4M20182019: $6.4M$6.4M2019−48%2020: $7.8M$7.8M2020+22%2021: -$12.0K-$12.0K20212022: -$23.1M-$23.1M2022+192742%2023: -$4.4M-$4.4M2023−81%2024: $4.4M$4.4M20242025: $3.8M$3.8M2025−13%
Net income567892$17.9M in 2025
-$50.0M0$50.0M$100.0M$150.0M2018: -$6.9M-$6.9M20182019: -$3.0M-$3.0M2019−56%2020: -$419.0K-$419.0K2020−86%2021: -$4.5M-$4.5M2021+964%2022: -$17.1M-$17.1M2022+284%2023: -$811.0K-$811.0K2023−95%2024: $113.3M$113.3M20242025: $17.9M$17.9M2025−84%

Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.2

Period ending2025-09-302024-09-302023-09-30
Revenue$213.2M$191.2M$189.7M
Other costs of services (excluding depreciation and amortization)$66.6M$60.5M$54.8M
Selling, general and administrative$114.7M$100.8M$106.0M
Depreciation and amortization$27.9M$25.6M$23.3M
Change in fair value of contingent consideration$234.0K$22.0K$10.0M
Total operating expenses$209.4M$186.9M$194.1M
Income (loss) from operations$3.8M$4.4M-$4.4M
Interest expense$2.3M$29.3M$25.1M
Other income-$9.4M-$3.4M-$1.2M
Total other expenses-$7.1M$25.9M$23.9M
Income (loss) before income taxes$10.9M-$21.5M-$28.3M
(Benefit from) provision for income taxes$5.3M-$5.5M-$3.5M
Net income (loss) from continuing operations$5.6M-$16.0M-$24.8M
Net income from discontinued operations, net of income taxes$20.9M$191.2M$22.2M
Net income (loss)$26.5M$175.1M-$2.7M
Net income (loss) from continuing operations attributable to non-controlling interest$2.0M-$5.2M-$8.2M
Net income from discontinued operations attributable to non-controlling interest$6.6M$67.0M$6.4M
Net income (loss) attributable to non-controlling interest$8.6M$61.8M-$1.8M
Net income (loss) from continuing operations attributable to i3 Verticals, Inc.$3.6M-$10.9M-$16.6M
Net income from discontinued operations attributable to i3 Verticals, Inc.$14.2M$124.2M$15.8M
Net income (loss) attributable to i3 Verticals, Inc.$17.9M$113.3M-$811.0K
Basic (in USD per share)$0-$0-$1
Diluted (in USD per share)$0-$0-$1
Basic (in USD per share)$1$5$1
Diluted (in USD per share)$1$5$1
Basic for continuing and discontinued operations (in shares)23.9M shares23.4M shares23.1M shares
Diluted for continuing and discontinued operations (in shares) diluted (in shares)34.2M shares33.9M shares33.2M shares

Compare i3 Verticals, Inc. with another company

Leadership

Who has led i3 Verticals, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (12)

Timeline

  1. Jun 20, 2018New chief executive Gregory S. Daily becomes CEO14

Filings

252 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 38 major events, 119 insider forms, 36 large holders, 39 other. The latest 20:

  1. Oct 9, 20268-K EDGAR
  2. Sep 30, 2026SCHEDULE 13G EDGAR
  3. Sep 22, 20264 EDGAR
  4. Aug 14, 2026SCHEDULE 13G EDGAR
  5. Aug 14, 2026SCHEDULE 13G EDGAR
  6. Aug 14, 2026SCHEDULE 13G EDGAR
  7. Aug 11, 2026SCHEDULE 13G/A EDGAR
  8. Aug 7, 202610-Q EDGAR
  9. Aug 6, 20268-K EDGAR
  10. Jul 31, 2026SCHEDULE 13G/A EDGAR
  11. Jul 28, 2026SCHEDULE 13G/A EDGAR
  12. Jun 2, 20268-K EDGAR
  13. May 14, 20264 EDGAR
  14. May 12, 20268-K EDGAR
  15. May 8, 202610-Q EDGAR
  16. May 7, 20268-K EDGAR
  17. May 7, 2026SCHEDULE 13G EDGAR
  18. Apr 30, 2026SCHEDULE 13G EDGAR
  19. Mar 27, 2026SCHEDULE 13G/A EDGAR
  20. Mar 9, 20264 EDGAR

The 252 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

24 open-market trades by officers, directors and large owners since October 2021: 9 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 14, 2026DAILY GREGORY SChief Executive OfficerBuy50,000$19.23$961.5KForm 4
Mar 6, 2026CHRISTIANS PAULChief Revenue OfficerSale6,122$23.23$142.2KForm 4
Dec 3, 2025CHRISTIANS PAULChief Revenue OfficerSale9,000$23.27$209.4KForm 4
Nov 26, 2025CHRISTIANS PAULChief Revenue OfficerSale3,292$23.78$78.3KForm 4
Nov 21, 2025STANFORD FREDERICKPresidentSale11,347$24.21$274.7KForm 4
Sep 11, 2025MAPLE PAULGeneral Counsel and SecretarySale2,500$31.04$77.6KForm 4
Aug 29, 2025CHRISTIANS PAULChief Revenue OfficerSale1,890$31.40$59.3KForm 4
Aug 12, 2025MCKENNA TIMOTHYDirectorSale6,882$31.81$218.9KForm 4
May 15, 2025SMITH GEOFFREY C.Chief Financial OfficerSale8,404$26.56$223.2KForm 4
May 13, 2025WILDS DAVID MDirectorSale218,400$24.81$5.4MForm 4
May 13, 2025HARRISON JOHN C.DirectorSale78,597$24.81$1.9MForm 4
May 13, 2025HARVEY ROBERT BURTONDirectorSale71,860$24.81$1.8MForm 4
Nov 27, 2024STANFORD FREDERICKPresidentSale17,577$25.28$444.3KForm 4
Nov 25, 2024DAILY GREGORY SChief Executive OfficerBuy40,000$24.06$962.4KForm 4
Nov 22, 2024DAILY GREGORY SChief Executive OfficerBuy48,544$23.51$1.1MForm 4
Aug 18, 2023MCKENNA TIMOTHYDirectorSale2,687$22.27$59.8KForm 4
May 15, 2023DAILY GREGORY SChief Executive OfficerBuy22,377$21.90$490.1KForm 4
May 12, 2023DAILY GREGORY SChief Executive OfficerBuy27,623$21.28$587.8KForm 4
Nov 23, 2022MORGAN DAVID K.DirectorBuy2,000$24.80$49.6KForm 4
Nov 22, 2022MORGAN DAVID K.DirectorBuy1,000$23.73$23.7KForm 4

All 24 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.1,802,534$38.5M0.0%+26,578
First Eagle Investment Management, LLC1,446,018$30.9M0.0%+1,063,881
Geneva Capital Management LLC1,190,152$25.4M0.6%−365,752
AltraVue Capital, LLC1,120,046$23.9M1.7%−50,100
Crosslink Capital Inc1,117,986$23.9M1.8%+151,985
Punch & Associates Investment Management, Inc.1,099,486$23.5M1.2%+66,880
North Reef Capital Management LP1,075,000$23.0M0.9%+50,000
Heartland Advisors Inc965,250$20.6M0.9%+358,300
Forager Capital Management, LLC864,574$18.5M6.9%+285,173
Jennison Associates LLC856,628$18.3M0.0%−13,423
Vanguard Capital Management LLC814,517$17.4M0.0%−148,633
State Street Corp719,056$15.4M0.0%+25,447
Vanguard Portfolio Management LLC693,367$14.8M0.0%+5,638
Dimensional Fund Advisors LP679,679$14.5M0.0%+62,828
Royce & Associates LP651,201$13.9M0.1%+67,776
Geode Capital Management, LLC533,827$11.4M0.0%−4,884
UBS Group AG411,915$8.8M0.0%−8,272
Wasatch Advisors LP377,435$8.1M0.1%+25,631
Nicholas Company, Inc.293,717$6.3M0.1%−110
Jane Street Group, LLC280,157$6.0M0.0%New
Northern Trust Corp264,750$5.7M0.0%+22,987
Citadel Advisors LLC261,523$5.6M0.0%+208,819
Legato Capital Management LLC247,394$5.3M0.4%No change
New York State Common Retirement Fund230,873$4.9M0.0%No change
Confluence Investment Management LLC230,530$4.9M0.1%+110,216

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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