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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) 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.
i3 Verticals announced its acquisition of two software companies on April 1, enhancing its offerings in the Healthcare vertical. One business, from the upper Midwest, provides software to healthcare customers, improving operational efficiency and patient information access. The second, based in the southeast, offers medical practice management software nationwide. The total cash paid for both acquisitions was $17.4 million. Chairman and CEO Greg Daily highlighted untapped payment opportunities, aligning with the company's acquisition strategy to expand its product suite and market presence.
i3 Verticals (Nasdaq: IIIV) reported Q1 fiscal 2021 results, with revenues of $43.3 million, up 5% year-over-year. Adjusted net revenue was $44.9 million, an 8% increase. However, the company faced a $4.1 million net loss, contrasting with a net income of $1.9 million in Q1 fiscal 2020. Adjusted EBITDA decreased 8% to $10.9 million, representing 24.2% of adjusted net revenue, down from 28.5%. The company anticipates adjusted net revenue for the fiscal year to range between $198 million and $214 million.
i3 Verticals has acquired substantially all assets of Business Information Systems (BIS) for approximately $87.7 million, comprising $52.5 million in cash and $35.2 million in Class A common stock. This acquisition, the largest in i3's history, aims to enhance its Public Sector vertical with innovative payment solutions that facilitate cost savings for state and local governments. BIS brings a creative leadership team and about 150 new employees. Equity awards totaling 575,000 shares have also been granted to BIS employees.
i3 Verticals (Nasdaq: IIIV) will release its financial results for Q1 fiscal 2021 on February 8, 2021, after market close. The company will host a conference call on February 9, 2021, at 8:30 a.m. ET to discuss these results. Interested participants can join via phone at (929) 477-0577 or through the webcast on the company's website. i3 Verticals processed approximately $14.4 billion in payment volume for the 12 months ending September 30, 2020, focusing on software and payment solutions for SMBs across various sectors.
i3 Verticals (Nasdaq: IIIV) reported its fiscal fourth quarter and year results ended September 30, 2020. Fourth quarter revenue was $38.3 million, down 65% year-over-year, while full-year revenue totaled $150.1 million, a 60% decline. Adjusted net revenue for Q4 was $38.4 million, decreasing 5%, with adjusted EBITDA at $9.7 million, a 17% drop. The company posted a net loss of $2.0 million in Q4. i3 Verticals completed seven acquisitions since July 2020, enhancing its offerings, particularly with the recent acquisition of ImageSoft for $40 million. The company refrained from providing 2021 financial outlook due to COVID-19 uncertainties.
i3 Verticals (Nasdaq: IIIV) will announce its financial results for Q4 and the fiscal year ending September 30, 2020, on November 19, 2020, post-market close. A conference call to discuss these results will be held on November 20, 2020, at 8:30 a.m. ET. Interested parties can listen in via telephone or webcast. Notably, i3 Verticals processed approximately $14.2 billion in total payment volume for the 12 months ending June 30, 2020, highlighting its role in delivering integrated payment solutions across various sectors.
i3 Verticals, Inc. (Nasdaq: IIIV) announced the acquisition of three companies to enhance its vertical focus. These include a public safety software provider, a healthcare billing software firm, and a technology provider for its platform. The total cash consideration for these acquisitions was $19.6 million. The CEO, Greg Daily, highlighted the importance of these deals in offering new solutions and expanding market reach. The acquisitions will also involve equity awards granted to new employees, enhancing employee retention.
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