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i3 Verticals, Inc. (symbol: IIIV) is a prominent technology and integrated payments provider catering to a diverse range of industry verticals across the United States. The company focuses on enhancing operating efficiencies, boosting revenues, and streamlining payment processing functions for its customers. With an impressive annualized payment volume exceeding $10 billion, i3 Verticals continues to fortify its leadership position through both organic growth and strategic acquisitions.
The company’s offerings are designed to meet the needs of small and medium-sized businesses and organizations within key strategic markets, including schools, the public sector, not-for-profit organizations, healthcare, and more. Operating primarily through two segments—Merchant Services and Software and Services—i3 Verticals derives the majority of its revenue from the Software and Services division.
i3 Verticals provides a comprehensive suite of solutions, such as gateway services, payment processing, online payment options, document management, and ERP systems. These offerings are aimed at simplifying complex business processes and improving financial transactions, making i3 Verticals a vital partner for its clients.
Recent achievements and initiatives underline the company's commitment to innovation and growth. By continuously adapting to evolving market needs and leveraging new technologies, i3 Verticals ensures that its clients stay ahead in their respective industries. The company's collaborative approach has also led to valuable partnerships, further expanding its reach and impact.
For the latest updates and in-depth information about i3 Verticals, including recent news and developments, visit the company's official website at www.i3verticals.com.
i3 Verticals (NASDAQ: IIIV) will announce its financial results for the first quarter ended December 31, 2021, on February 8, 2022, post-market close. A conference call is scheduled for February 9, 2022, at 8:30 a.m. ET to discuss the results and operational updates. Participants can join via telephone or webcast via the Company’s website. The Company specializes in providing integrated payment and software solutions across verticals like Public Sector, Healthcare, and Education.
i3 Verticals (NASDAQ: IIIV) has announced an acquisition aimed at strengthening its Public Sector vertical, effective December 31, 2021. The acquired company specializes in court system data management solutions in the southeast and mid-Atlantic regions, providing software for electronic filing and case management. This marks i3 Verticals' second acquisition in this market, expected to enhance product offerings and cross-selling opportunities. Details will be discussed in the upcoming fiscal 2022 Q1 earnings call in February.
i3 Verticals reported strong financial results for Q4 and FY 2021, with Q4 revenue at $67.2 million, marking a 76% increase year-over-year. Full year revenue rose 49% to $224.1 million. The net loss in Q4 was $1.9 million, a slight improvement from $2.0 million in the previous year. Adjusted EBITDA reached $17.1 million in Q4, a 79% increase. The company sets a 2022 revenue outlook between $280 million and $300 million, alongside a gross margin improvement in its software services. Decosta Jenkins will join the Board of Directors.
The Louisiana Clerks Remote Access Authority (LCRAA) has partnered with i3 Verticals (NASDAQ: IIIV) to enhance eFiling and case management services in Louisiana. This new agreement aims to create a unified eFiling portal, improving user experience for parish clerks by allowing electronic case management without paper. LCRAA's Executive Director highlights the role of this partnership in standardizing processes statewide, achieving this milestone without state funding. The integration promises to reduce processing backlogs and elevate service quality for Louisiana's legal community.
i3 Verticals (Nasdaq: IIIV) will release its financial results for Q4 ending
i3 Verticals, Inc. (Nasdaq: IIIV) announced the effective acquisition of a revenue cycle management business on October 1, enhancing its presence in the healthcare sector. The acquired entity specializes in comprehensive services for hospitals and integrates secure proprietary software with medical records. The aggregate cash consideration for this acquisition was $60 million, with equity awards granted to 419 employees. Chairman Greg Daily emphasized the strategic importance of this acquisition as part of their ongoing growth strategy in high-demand verticals.
i3 Verticals (Nasdaq: IIIV) reported a 96% increase in third-quarter revenue, totaling $62.0 million, while nine-month revenue rose 37% to $153.1 million. However, the company recorded a third-quarter net loss of $4.6 million, worsening from a loss of $2.8 million year-over-year. The diluted net loss per share was $0.15, compared to $0.02 in the same period last year. The revised fiscal year 2021 outlook estimates revenue of $212 million - $222 million and adjusted EBITDA of $49 million - $52.5 million.
i3 Verticals (Nasdaq: IIIV) announced its third-quarter financial results for the period ending June 30, 2021, set to be released on August 9, 2021, after Nasdaq market close. A conference call will follow on August 10, 2021, at 8:30 a.m. ET to discuss these results. Participants can join the call by dialing (877) 270-2148 or via webcast through the company’s website. i3 Verticals specializes in integrated payment and software solutions, processing approximately $15 billion in payment volume for the year ending March 31, 2021.
i3 Verticals (Nasdaq: IIIV) reported strong fiscal Q2 results for the period ending March 31, 2021, highlighting 22% revenue growth to $47.9 million year-over-year. Adjusted net revenue decreased by 26% to $49.4 million. The company recorded a net loss of $0.1 million, contrasting with a net income of $1.9 million in Q2 2020. Adjusted EBITDA grew by 25% to $12.4 million. The company completed three acquisitions, bolstering its presence in healthcare and utilities sectors. i3 Verticals revised its FY 2021 outlook, projecting adjusted net revenue between $204,000 - $220,000.
i3 Verticals (Nasdaq: IIIV) plans to release its second-quarter financial results for the fiscal year ending March 31, 2021, on May 10, 2021, after market close. A conference call is scheduled for May 11, 2021, at 8:30 a.m. ET to discuss these results. Participants can call in or listen via the Company's website. i3 Verticals processed approximately $14.3 billion in total payment volume for the year ending December 31, 2020, catering to small- and medium-sized businesses across sectors like education and healthcare.
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