Business
i3 Verticals Reports Fourth Quarter and Full Fiscal Year 2021 Financial Results
Introduces 2022 Outlook Decosta Jenkins to Join Board of Directors NASHVILLE, Tenn.--(BUSINESS WIRE)-- i3 Verticals, Inc. (Nasdaq: IIIV) (“i3 Verticals” or
About this update from I3 Verticals, Inc.
[{"type":"text","content":"\nIntroduces 2022 Outlook\n\nDecosta Jenkins to Join Board of Directors\n\n NASHVILLE, Tenn.--(BUSINESS WIRE)--\ni3 Verticals, Inc. (Nasdaq: IIIV) (“i3 Verticals” or the “Company”) today reported its financial results for the fiscal fourth quarter and year ended September 30, 2021.\n\nHighlights for the fiscal fourth quarter and full fiscal year of 2021 vs. 2020\n\n\nFourth quarter revenue was $67.2 million, an increase of 76% over the prior year's fourth quarter; full year revenue was $224.1 million, an increase of 49% over the prior year.\n\n\nFourth quarter net loss was $1.9 million, compared to a net loss of $2.0 million in the prior year's fourth quarter. Net loss for the year ended September 30, 2021, was $7.8 million, compared to a net loss of $1.0 million for the year ended September 30, 2020.\n\n\nFourth quarter net loss attributable to i3 Verticals, Inc. was $0.5 million; full year net loss attributable to i3 Verticals, Inc. was $4.5 million.\n\n\nFourth quarter adjusted EBITDA1 was $17.1 million, an increase of 79.0% over the prior year's fourth quarter. Adjusted EBITDA1 for the year ended September 30, 2021, was $55.4 million, an increase of 46.8% over the prior year.\n\n\nFourth quarter adjusted EBITDA1 as a percentage of revenue was 25.4%, compared to 24.8% in the prior year's fourth quarter.\n\n\nFourth quarter diluted net loss per share available to Class A common stock was $0.05, compared to $0.06 in the prior year's fourth quarter; full year diluted net loss per share available to Class A common stock was $0.22, compared to $0.03 in the prior year.\n\n\nFor the fourth quarter and year ended September 30, 2021, pro forma adjusted diluted earnings per share1, which gives pro forma effect to the Company's tax rate, was $0.33 and $1.05, respectively, compared to $0.20 and $0.75 for the fourth quarter and year ended September 30, 2020, respectively.\n\n\nIntegrated payments2 were 63% of payment volume for the three months ended September 30, 2021.\n\n\nSoftware and related services revenue3 as a percentage of total revenue was 42% and 26% for the three months ended September 30, 2021 and 2020, respectively.\n\n\nAs of September 30, 2021, our consolidated interest coverage ratio was 10.3x, total leverage ratio was 3.5x and consolidated senior leverage ratio was 1.6x. These ratios are defined in our Senior Secured Cre...