I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q2 FY2019 Earnings Presentation
29 slides from I3 Verticals's earnings presentation, May 13, 2019
Slide 1: Q2 Fiscal 2019 Supplemental Segment Information
Q2 Fiscal 2019 Supplemental Segment Information
Slide 2: Q2 YTD Fiscal 2019 Segment Performance
Q2 YTD Fiscal 2019 Segment Performance(1) ($ in thousands) Six months ended March 31, Period over 2019 2018 period growth Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 43,514 $ 39,418 10% Purchased Portfolios 3,578 5,149 (31)% Merchant Services 47,092 44,567 6% Propriet
Slide 3: Reconciliation of Non-GAAP Financial Measures: Net Revenue
Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to non-GAAP adjusted net revenue is as follows: ($ in thousands) Six Months Ended March 31, 2019 Proprietary Software Merchant Services(2) and Payments Other Total Revenue $ 154,577 $ 15,685 $ — $ 170,262 Acquisition rev
Slide 4: Reconciliation to Non-GAAP Adjusted EBITDA (Six Months)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA is as follows: ($ in thousands) Six Months Ended March 31, 2019 Six Months Ended March 31, 2018 Proprietary Proprietary Merchan
Slide 5: Reconciliation footnotes
Reconciliation of Non-GAAP Financial Measures 1. Includes costs associated with forming i3 Verticals, Inc. and other expenses directly related to the certain transactions as part of any offering. 2. Non-cash change in fair value of contingent consideration reflects the changes in management’s estima
Slide 6: Q2 QTD Fiscal 2019 Segment Performance
Q2 QTD Fiscal 2019 Segment Performance(1) ($ in thousands) Three months ended March 31, Period over 2019 2018 period growth Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 22,213 $ 20,629 8% Purchased Portfolios 1,541 2,305 (33)% Merchant Services 23,754 22,934 4% Proprie
Slide 7: Revenue to Adjusted Net Revenue Reconciliation (Q2 2019)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to non-GAAP adjusted net revenue is as follows: ($ in thousands) Three Months Ended March 31, 2019 Proprietary Software Merchant Services(2) and Payments Other Total Revenue $ 76,875 $ 8,519 $ — $ 85,394 Acquisition reve
Slide 8: Reconciliation to Non-GAAP Adjusted EBITDA (Q2 2019)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA is as follows: ($ in thousands) Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Proprietary Proprietary Mer
Slide 9: Reconciliation footnotes
Reconciliation of Non-GAAP Financial Measures 1. Includes costs associated with forming i3 Verticals, Inc. and other expenses directly related to the certain transactions as part of any offering. 2. Non-cash change in fair value of contingent consideration reflects the changes in management’s estima
Slide 10: Q1 Fiscal 2019 Segment Performance
Q1 Fiscal 2019 Segment Performance(1) ($ in thousands) Three months ended December 31, Period over 2018 2017 period growth Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 21,301 $ 18,788 13% Purchased Portfolios 2,037 2,844 (28)% Merchant Services 23,338 21,632 8% Proprie
Slide 11: Revenue to Adjusted Net Revenue Reconciliation (Q1 2019)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to non-GAAP adjusted net revenue is as follows: ($ in thousands) Three Months Ended December 31, 2018 Proprietary Software Merchant Services(2) and Payments Other Total Revenue $ 77,702 $ 7,166 $ — $ 84,868 Acquisition r
Slide 12: Reconciliation to Non-GAAP Adjusted EBITDA (Q1 2019)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA is as follows: ($ in thousands) Three Months Ended December 31, 2018 Three Months Ended December 31, 2017 Proprietary Proprieta
Slide 13: Reconciliation footnotes
Reconciliation of Non-GAAP Financial Measures 1. Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the later of the most recent balance
Slide 14: Q4 Fiscal 2018 and 2017 Segment Performance
Q4 Fiscal 2018 and 2017 Segment Performance(1) ($ in thousands) Three months ended September 30, Period over 2018 2017 period growth Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 21,752 $ 14,425 51% Purchased Portfolios 1,823 2,775 (34)% Merchant Services 23,575 17,200
Slide 15: Revenue to Adjusted Net Revenue Reconciliation (Q4 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to non-GAAP adjusted net revenue is as follows: ($ in thousands) Three Months Ended September 30, 2018 Proprietary Software Merchant Services(1) and Payments Other Total Revenue $ 78,258 $ 5,795 $ — $ 84,053 Interchange
Slide 16: Reconciliation to Non-GAAP Adjusted EBITDA (Q4 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA is as follows: ($ in thousands) Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Proprietary Proprie
Slide 17: Reconciliation footnotes
Reconciliation of Non-GAAP Financial Measures 1. Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the later of the most recent balance
Slide 18: Q3 Fiscal 2018 and 2017 Segment Performance
Q3 Fiscal 2018 and 2017 Segment Performance(1) ($ in thousands) Three months ended June 30, Period over period 2018 2017 growth Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 23,025 $ 12,737 81% Purchased Portfolios 2,068 2,939 (30)% Merchant Services 25,093 15,676 60% P
Slide 19: Revenue to Adjusted Net Revenue Reconciliation (Q3 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to non-GAAP adjusted net revenue is as follows: ($ in thousands) Three Months Ended June 30, 2018 Proprietary Software Merchant Services(1) and Payments Other Total Revenue $ 79,766 $ 4,770 $ — $ 84,536 Interchange and n
Slide 20: Reconciliation to Non-GAAP Adjusted EBITDA (Q3 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA is as follows: ($ in thousands) Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Proprietary Proprietary Merch
Slide 21: Reconciliation footnotes
Reconciliation of Non-GAAP Financial Measures 1. Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the later of the most recent balance
Slide 22: Q2 Fiscal 2018 and 2017 Segment Performance
Q2 Fiscal 2018 and 2017 Segment Performance(1) ($ in thousands) Three months ended March 31, Period over period 2018 2017 growth Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 20,629 $ 11,752 76% Purchased Portfolios 2,305 3,076 (25)% Merchant Services 22,934 14,828 55%
Slide 23: Revenue to Adjusted Net Revenue Reconciliation (Q2 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to non-GAAP adjusted net revenue is as follows: ($ in thousands) Three Months Ended March 31, 2018 Proprietary Software Merchant Services(1) and Payments Other Total Revenue $ 72,226 $ 5,473 $ — $ 77,699 Interchange and
Slide 24: Reconciliation to Non-GAAP Adjusted EBITDA (Q2 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA is as follows: ($ in thousands) Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 Proprietary Proprietary Mer
Slide 25: Reconciliation footnotes
Reconciliation of Non-GAAP Financial Measures 1. Includes costs associated with forming i3 Verticals, Inc. and other expenses directly related to the certain transactions as part of any offering. 2. Non-cash change in fair value of contingent consideration reflects the changes in management’s estima
Slide 26: Q1 Fiscal 2018 and 2017 Segment Performance
Q1 Fiscal 2018 and 2017 Segment Performance(1) ($ in thousands) Three months ended December 31, Period over 2017 2016 period growth Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 18,788 $ 11,835 59% Purchased Portfolios 2,844 3,325 (14)% Merchant Services 21,632 15,160 4
Slide 27: Revenue to Adjusted Net Revenue Reconciliation (Q1 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to non-GAAP adjusted net revenue is as follows: ($ in thousands) Three Months Ended December 31, 2017 Proprietary Software Merchant Services(1) and Payments Other Total Revenue $ 72,679 $ 4,545 $ (3) $ 77,221 Interchange
Slide 28: Reconciliation to Non-GAAP Adjusted EBITDA (Q1 2018)
Reconciliation of Non-GAAP Financial Measures The reconciliation of our income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA is as follows: ($ in thousands) Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Proprietary Proprieta
Slide 29: Reconciliation footnotes
Reconciliation of Non-GAAP Financial Measures 1. Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the later of the most recent balance