← i3 Verticals, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $902k |
($5.0m)
-650.00%
|
$563k
+111.35%
|
($979k)
-273.89%
|
($7.8m)
-700.72%
|
($23.2m)
-196.17%
|
($2.7m)
+88.58%
|
$175.1m
+6703.70%
|
$26.5m
-84.87%
|
— | |
| Other non-cash adjustments to net income (loss) | — | — | — | $717k | $555k | $1.1m | $1.5m | $1.3m | $437k | — | |
| Depreciation and amortization | $10.1m | $11.8m | $16.6m | $18.2m | $24.4m | $29.4m | $36.5m | $37.4m | $29.8m | $28.9m | |
| Amortization of debt discount and issuance costs | — | $1.1m | $721k | $3.7m | $5.5m | $5.8m | $1.5m | $1.2m | $961k | — | |
| Depreciation Amortization Depletion | — | — | — | — | — | $29.4m | $36.5m | $37.4m | $29.8m | $28.9m | |
| Provision for (Benefit from) deferred income taxes | $56k | ($682k) | ($586k) | ($3.2m) | ($287k) | $2.6m | ($5.9m) | $434k | $5.0m | — | |
| Deferred Tax | — | — | — | — | — | $2.6m | ($5.9m) | $434k | $5.0m | $3.8m | |
| Asset Impairment Charge | — | — | — | — | — | $0 | $2.7m | $0 | $0 | $0 | |
| Change In Working Capital | — | — | — | — | — | ($8.8m) | ($20.2m) | $17.2m | ($52.7m) | ($11.3m) | |
| Accounts receivable | ($2.4m) | ($2.3m) | $2.4m | ($1.0m) | ($10.9m) | ($15.8m) | ($7.7m) | $9.6m | ($7.4m) | ($4.6m) | |
| Change In Receivables | — | — | — | — | — | ($15.8m) | ($7.7m) | $9.6m | ($7.4m) | ($4.6m) | |
| Changes In Account Receivables | — | — | — | — | — | ($15.8m) | ($7.7m) | $9.6m | ($7.4m) | ($4.6m) | |
| Accounts payable | ($384k) | $1.2m | ($1.8m) | $239k | $3.9m | $1.5m | $1.7m | ($3.2m) | $1.0m | ($593k) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | $11.3m | $2.0m | $24.7m | ($31.1m) | ($593k) | |
| Accrued expenses and other current liabilities | $1.5m | $2.0m | $1.6m | $1.6m | $10.5m | $13.0m | $318k | $28.0m | ($32.1m) | — | |
| Deferred revenue | $388k | ($123k) | $2.6m | $617k | $5.2m | $2.0m | ($1.3m) | $2.0m | ($1.8m) | — | |
| Change In Accrued Expense | — | — | — | — | — | $9.8m | $318k | $28.0m | ($32.1m) | $5.9m | |
| Prepaid expenses and other current assets | $305k | $1.0m | ($817k) | ($984k) | ($1.6m) | ($3.6m) | $1.5m | ($603k) | ($2.2m) | — | |
| Other assets | $9k | ($3.2m) | ($2.8m) | ($1.5m) | ($4.1m) | ($1.2m) | ($1.9m) | ($1.7m) | ($2.0m) | — | |
| Change In Other Current Assets | — | — | — | — | — | ($1.2m) | ($1.9m) | ($1.7m) | ($2.0m) | ($722k) | |
| Change In Other Current Liabilities | — | — | — | — | — | ($4.8m) | ($4.5m) | ($15.1m) | ($6.1m) | ($5.9m) | |
| Net cash provided by operating activities | $8.3m |
$18.1m
+117.05%
|
$26.6m
+47.11%
|
$23.7m
-10.82%
|
$46.8m
+97.19%
|
$45.8m
-1.98%
|
$34.5m
-24.74%
|
$48.4m
+40.30%
|
$5.7m
-88.24%
|
$45.5m
+698.58%
|
|
| Expenditures for property and equipment | ($636k) | ($2.2m) | ($807k) | ($2.9m) | ($1.9m) | ($2.3m) | ($4.2m) | ($3.0m) | ($1.9m) | — | |
| Proceeds from sale of property and equipment | $636k | $2.2m | $807k | $2.9m | $1.9m | $0 | $0 | $618k | $1.5m | — | |
| Capital Expenditure | — | $2.2m | $807k | $2.9m | $1.9m | ($12.4m) | ($16.4m) | ($15.0m) | ($10.1m) | ($10.1m) | |
| Net gain on sale of investments | — | — | $0 | $0 | ($2.1m) | $0 | ($295k) | $0 | $0 | — | |
| Proceeds from investments | — | — | — | — | $3.2m | $600k | $295k | $0 | $0 | $0 | |
| Acquisitions of businesses, net of cash acquired | ($44.2m) | ($32.4m) | ($137.0m) | ($27.7m) | ($149.5m) | ($100.7m) | ($102.0m) | ($19.1m) | ($11.0m) | — | |
| Payments for other investing activities | — | — | — | — | ($104k) | ($443k) | ($1.3m) | ($94k) | $0 | — | |
| Net Other Investing Changes | — | — | — | — | — | ($443k) | ($1.3m) | ($94k) | $96.1m | $96.1m | |
| Net cash provided by (used in) investing activities | ($47.9m) | ($38.1m) | ($143.7m) | ($35.4m) | ($156.3m) | ($113.0m) | ($121.5m) | $396.1m | $76.5m | $15.5m | |
| Payments of debt issuance costs | ($254k) | ($266k) | ($168k) | ($5.3m) | $0 | $0 | ($694k) | ($930k) | ($256k) | — | |
| Issuance Of Debt | — | — | — | — | — | $335.7m | $365.0m | $387.0m | $58.4m | $162.4m | |
| Long Term Debt Issuance | — | — | — | — | — | $0 | $365.0m | $387.0m | $58.4m | $162.4m | |
| Long Term Debt Payments | — | — | — | — | — | $0 | ($281.5m) | ($747.3m) | ($84.6m) | ($93.4m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | $80.6m | $83.5m | ($360.3m) | ($26.2m) | $69.0m | |
| Net Long Term Debt Issuance | — | — | — | — | — | $0 | $83.5m | ($360.3m) | ($26.2m) | $69.0m | |
| Net Short Term Debt Issuance | — | — | — | — | $104.4m | $80.6m | $83.5m | — | — | — | |
| Repayment Of Debt | — | — | — | — | — | ($255.1m) | ($281.5m) | ($747.3m) | ($84.6m) | ($93.4m) | |
| Short Term Debt Issuance | — | — | — | — | $302.8m | $335.7m | $365.0m | — | — | — | |
| Short Term Debt Payments | — | — | — | — | ($198.4m) | ($255.1m) | ($281.5m) | — | — | — | |
| Payments for repurchases of Class A common stock | — | — | — | — | — | — | $0 | $0 | ($37.6m) | — | |
| Common Stock Issuance | — | — | — | — | $0 | $17.7m | $0 | $0 | ($37.6m) | $0 | |
| Common Stock Payments | — | — | — | — | — | $0 | $0 | $0 | ($37.6m) | ($114.9m) | |
| Issuance Of Capital Stock | — | — | — | — | $0 | $17.7m | $0 | $0 | — | $0 | |
| Repurchase Of Capital Stock | — | — | — | — | — | $0 | $0 | $0 | ($37.6m) | ($114.9m) | |
| Net Other Financing Charges | — | — | — | — | — | ($23.9m) | ($10.7m) | ($6.5m) | ($40.9m) | ($15.5m) | |
| Net cash (used in) provided by financing activities | $37.4m |
$19.2m
-48.48%
|
$119.1m
+518.86%
|
$29.1m
-75.56%
|
$102.1m
+250.72%
|
$73.0m
-28.47%
|
$75.7m
+3.59%
|
($367.4m)
-585.59%
|
($104.4m)
+71.58%
|
— | |
| Increase (Decrease) in non-cash contingent consideration expense from original estimate | ($218k) | $3.9m | $3.4m | ($1.4m) | $7.1m | $23.7m | $10.8m | ($690k) | $1.5m | — | |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | — | ($731k) | $2.0m | $17.4m | ($7.4m) | $5.8m | ($11.4m) | $77.2m | ($22.3m) | — | |
| Cash, cash equivalents, and restricted cash at beginning of period | $2.0m | $1.2m | $3.2m | $20.6m | $13.2m | $23.8m | $12.4m | $89.6m | $67.3m | — | |
| Beginning Cash Position | — | — | — | — | — | $17.9m | $23.8m | $12.4m | $89.6m | $55.8m | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Equity-based compensation | $0 | $1.6m | $6.1m | $10.5m | $20.9m | $26.2m | $27.9m | $26.3m | $18.3m | — | |
| Gain on repurchase of exchangeable notes | — | $0 | $0 | $2.3m | $0 | $0 | $0 | ($2.4m) | $0 | — | |
| Loss on sale of exchangeable senior note hedges | — | — | — | — | — | $0 | $0 | $245k | $0 | — | |
| Gain on repurchases of warrants | — | — | — | — | — | $0 | $0 | ($105k) | $0 | — | |
| Gain on sale of businesses | — | — | — | — | — | $0 | $0 | ($205.6m) | ($26.0m) | — | |
| Write down of intangible asset | — | — | — | — | $0 | $0 | $2.7m | $0 | $0 | — | |
| Non-cash lease expense | — | — | — | $0 | $3.2m | $4.9m | $4.7m | $4.5m | $2.5m | — | |
| Acquisition escrow obligations | — | — | — | — | $4.7m | $3.2m | ($8.3m) | ($1.8m) | ($2.2m) | — | |
| Operating lease liabilities | — | — | — | $0 | ($3.1m) | ($4.8m) | ($4.5m) | ($4.6m) | ($3.2m) | — | |
| Other long-term liabilities | $40k | $362k | ($44k) | $93k | ($782k) | ($25k) | $0 | ($10.5m) | ($2.9m) | — | |
| Contingent consideration paid in excess of original estimates | ($2.2m) | ($2.1m) | ($1.6m) | ($5.0m) | ($3.6m) | ($18.1m) | ($19.3m) | ($6.6m) | ($760k) | — | |
| Expenditures for capitalized software | ($1.5m) | ($1.1m) | ($2.2m) | ($2.9m) | ($6.2m) | ($10.2m) | ($12.2m) | ($12.0m) | ($8.2m) | — | |
| Purchases of merchant portfolios and residual buyouts | ($1.6m) | ($1.2m) | ($3.6m) | ($1.8m) | ($1.8m) | ($52k) | ($2.2m) | ($5.4m) | ($12k) | — | |
| Proceeds from sale of Merchant Services Business, net of cash sold | — | — | — | — | — | $0 | $0 | $435.1m | $96.1m | — | |
| Proceeds from revolving credit facility | $56.5m | $27.2m | $188.5m | $172.1m | $302.8m | $335.7m | $365.0m | $387.0m | $58.4m | — | |
| Payments on revolving credit facility | ($23.9m) | ($95.6m) | ($51.9m) | ($313.3m) | ($198.4m) | ($255.1m) | ($281.5m) | ($659.5m) | ($58.4m) | — | |
| Payments to extinguish exchangeable notes | — | — | — | — | — | — | $0 | $0 | ($26.2m) | — | |
| Payments for repurchase of exchangeable notes | — | $0 | $0 | ($17.4m) | $0 | $0 | $0 | ($87.8m) | $0 | — | |
| Proceeds from sale of exchangeable senior note hedges | — | $0 | $0 | $138.0m | $0 | $0 | $0 | $1.2m | $0 | — | |
| Payments for repurchases of warrants | — | — | — | — | — | $0 | $0 | ($552k) | $0 | — | |
| Net payments for settlement obligations | — | — | — | — | — | $2.1m | ($2.7m) | ($4.2m) | ($221k) | — | |
| Cash paid for contingent consideration | ($966k) | ($977k) | ($2.6m) | ($3.5m) | ($2.9m) | ($25.3m) | ($6.8m) | ($760k) | ($817k) | — | |
| Payments for required distributions to members or on behalf of members for tax obligations | — | — | — | — | — | $0 | $0 | ($1.1m) | ($25.3m) | — | |
| Payments for required distributions to members under the Tax Receivable Agreement | — | — | — | — | — | — | $0 | $0 | ($10.0m) | — | |
| Proceeds from stock option exercises | $0 | $0 | $672k | $764k | $1.6m | $694k | $180k | $25k | $300k | — | |
| Payments for employee's tax withholdings from net settled stock option exercises and RSU releases | — | $0 | $0 | ($310k) | ($731k) | ($643k) | ($490k) | ($708k) | ($4.3m) | — | |
| Cash paid for interest | $6.3m | $7.9m | $4.9m | $5.2m | $4.4m | $9.0m | $21.5m | $29.5m | $931k | — | |
| Cash paid for income taxes, net of refunds | $837k | $483k | $1.4m | $792k | $287k | $1.1m | $3.2m | $7.3m | $34.9m | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | $75.1m | $73.0m | ($367.4m) | ($104.4m) | ($61.1m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | ($113.0m) | ($121.5m) | $396.1m | $76.5m | $15.5m | |
| Change In Account Payable | — | — | — | — | — | $1.5m | $1.7m | ($3.2m) | $1.0m | ($593k) | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | $5.8m | ($11.4m) | $77.2m | ($22.3m) | — | |
| Change In Other Working Capital | — | — | — | — | — | $5.3m | ($9.6m) | $235k | ($3.9m) | ($2.8m) | |
| Change In Payable | — | — | — | — | — | $1.5m | $1.7m | ($3.2m) | $1.0m | ($593k) | |
| Change In Prepaid Assets | — | — | — | — | — | ($3.6m) | $1.5m | ($603k) | ($2.2m) | ($2.4m) | |
| Changes In Cash | — | — | — | — | — | $5.8m | ($11.4m) | $77.2m | ($22.3m) | ($149k) | |
| End Cash Position | — | — | — | — | — | $23.8m | $12.4m | $89.6m | $67.3m | $10.1m | |
| Financing Cash Flow | — | — | — | — | — | $75.1m |
$73.0m
-2.84%
|
($367.4m)
-603.34%
|
($104.4m)
+71.58%
|
($61.1m)
+41.49%
|
|
| Free Cash Flow | — | — | — | — | — | $31.3m | $20.8m | $33.4m | ($4.4m) | $50.1m | |
| Gain Loss On Investment Securities | — | — | — | — | ($2.1m) | — | ($295k) | $140k | — | $140k | |
| Gain Loss On Sale Of Business | — | — | — | — | — | $0 | $0 | ($205.6m) | ($26.0m) | ($26.6m) | |
| Investing Cash Flow | — | — | — | — | — | ($113.0m) | ($121.5m) | $396.1m | $76.5m | $15.5m | |
| Net Business Purchase And Sale | — | — | — | — | — | ($100.7m) | ($102.0m) | $416.0m | ($11.0m) | ($71.0m) | |
| Net Intangibles Purchase And Sale | — | — | — | — | ($104k) | ($13k) | — | — | — | — | |
| Net Investment Purchase And Sale | — | — | — | — | — | $548k | ($1.9m) | ($5.4m) | ($12k) | ($12k) | |
| Net PPE Purchase And Sale | — | — | — | — | — | $0 | $0 | $618k | $1.5m | $448k | |
| Operating Gains Losses | — | — | — | — | ($2.1m) | — | ($295k) | ($205.4m) | ($26.0m) | ($26.0m) | |
| Other Non Cash Items | — | — | — | — | — | $17.5m | ($779k) | ($2.7m) | $4.7m | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | $694k | $180k | ($527k) | $300k | $279k | |
| Purchase Of Business | — | — | — | — | — | ($100.7m) | ($102.0m) | ($19.1m) | ($11.0m) | ($71.0m) | |
| Purchase Of Intangibles | — | — | — | — | ($104k) | ($13k) | — | — | — | — | |
| Purchase Of Investment | — | — | — | — | — | ($52k) | ($2.2m) | ($5.4m) | ($12k) | ($12k) | |
| Sale Of Business | — | — | — | — | — | $0 | $0 | $435.1m | $0 | $0 | |
| Sale Of Investment | — | — | — | — | — | $600k | $295k | $0 | $0 | $0 | |
| Sale Of PPE | — | — | — | — | — | $0 | $0 | $618k | $1.5m | $448k | |
| Stock Based Compensation | — | — | — | — | — | $26.2m | $27.9m | $26.3m | $18.3m | $20.4m |