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i3 Verticals Reports Fourth Quarter and Full Fiscal Year 2022 Financial Results
Introduces 2023 Outlook NASHVILLE, Tenn.--(BUSINESS WIRE)-- i3 Verticals, Inc. (Nasdaq: IIIV) (“i3 Verticals” or the “Company”) today reported its financial
About this update from I3 Verticals, Inc.
[{"type":"text","content":"\nIntroduces 2023 Outlook\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, 2022.\n\nHighlights for the fiscal fourth quarter and full fiscal year of 2022 vs. 2021\n\n\nFourth quarter revenue was $85.3 million, an increase of 26.9% over the prior year's fourth quarter; full year revenue was $317.9 million, an increase of 41.8% over the prior year.\n\n\nFourth quarter net loss was $4.4 million, compared to a net loss of $1.9 million in the prior year's fourth quarter. Net loss for the year ended September 30, 2022, was $23.2 million, compared to a net loss of $7.8 million for the year ended September 30, 2021.\n\n\nFourth quarter net loss attributable to i3 Verticals, Inc. was $3.5 million; full year net loss attributable to i3 Verticals, Inc. was $17.1 million.\n\n\nFourth quarter adjusted EBITDA1 was $21.7 million, an increase of 27.4% over the prior year's fourth quarter. Adjusted EBITDA1 for the year ended September 30, 2022, was $79.5 million, an increase of 43.6% over the prior year.\n\n\nAdjusted EBITDA1 as a percentage of revenue was 25.0% for the year ended September 30, 2022, compared to 24.7% for the year ended September 30, 2021.\n\n\nFourth quarter diluted net loss per share available to Class A common stock was $0.15, compared to a net loss per share of $0.05 in the prior year's fourth quarter; full year diluted net loss per share available to Class A common stock was $0.77, compared to a net loss per share of $0.22 in the prior year.\n\n\nFor the fourth quarter and year ended September 30, 2022, pro forma adjusted diluted earnings per share1, which gives pro forma effect to the Company's tax rate, was $0.39 and $1.48, respectively, compared to $0.33 and $1.05 for the fourth quarter and year ended September 30, 2021, respectively.\n\n\nAnnualized Recurring Revenue (\"ARR\")2 for the fourth quarter of 2022 and 2021 was $281.2 million and $210.8 million, respectively, representing a period-to-period growth rate of 33.4%.\n\n\nSoftware and related services revenue3 as a percentage of total revenue was 49% and 39% for the years ended September 30, 2022 and 2021, respectively. Payments revenue as a percentage of total revenue was 45% and 53% for the years ended Septemb...