i3 Verticals, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $213.2M | $191.2M | $189.7M | $187.8M | $224.1M | $150.1M | $376.3M | $323.5M |
| Cost of Revenue | — | — | — | — | $0 | $0 | $242.9M | $214.5M |
| Gross Profit | — | — | $333.3M | $282.7M | $195.3M | $123.4M | $106.9M | $83.2M |
| Gross Margin | — | — | 175.7% | 150.6% | 87.2% | 82.2% | 28.4% | 25.7% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $114.7M | $100.8M | $106.0M | $156.7M | $134.9M | $78.3M | $62.9M | $40.6M |
| Operating Income | $3.8M | $4.4M | $-4.4M | $-23.1M | $-12.0K | $7.8M | $6.4M | $12.4M |
| Operating Margin | 1.8% | 2.3% | -2.3% | -12.3% | 0.0% | 5.2% | 1.7% | 3.8% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $10.9M | $-21.5M | $-28.3M | $-38.9M | $-7.2M | $-3.8M | $386.0K | $-4.6M |
| Income Tax Expense | $5.3M | $-5.5M | $-3.5M | $152.0K | $623.0K | $-2.8M | $-177.0K | $337.0K |
| Net Income | $17.9M | $113.3M | $-811.0K | $-17.1M | $-4.5M | $-419.0K | $-3.0M | $-6.9M |
| Net Margin | 8.4% | 59.3% | -0.4% | -9.1% | -2.0% | -0.3% | -0.8% | -2.1% |
| EPS (Basic) | $0.75 | $4.84 | $-0.04 | $-0.77 | $-0.21 | $-0.03 | $-0.10 | $0.03 |
| EPS (Diluted) | $0.72 | $4.73 | $-0.07 | $-0.77 | $-0.22 | $-0.03 | $-0.10 | $0.03 |
| Shares Outstanding (Basic) | 23.9M | 23.4M | 23.1M | 22.2M | 21.0M | 14.8M | 31.5M | 26.4M |
| Shares Outstanding (Diluted) | 34.2M | 33.9M | 33.2M | 22.2M | 31.7M | 27.4M | 31.5M | 80.6M |
| Dividends Per Share | — | — | — | — | — | — | — | — |