I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q1 2022 Earnings Presentation
8 slides from I3 Verticals's earnings presentation, 2022
Slide 1: Q1 Fiscal 2022 Supplemental Information
Q1 Fiscal 2022 Supplemental Information
Slide 2: Annualized Recurring Revenue (ARR)
Annualized Recurring Revenue (“ARR”) ($ in thousands) Quarter Ended December 31, September 30, December 31, September 30, December 31, 2021 2021 June 30, 2021 March 31, 2021 2020 2020 June 30, 2020 March 31, 2020 2019 Software and related service revenue SaaS(1) $ 6,310 $ 6,173 $ 6,107 $ 5,632 $ 5,1
Slide 3: Annualized Recurring Revenue (ARR) Footnotes
Annualized Recurring Revenue (“ARR”) 1. SaaS revenue is earned when we provide, as a service to our customers over time, the right to access our software, generally hosted in a cloud environment. 2. Transaction-based software revenue is earned when we provide services through our software and charge
Slide 4: Q1 Fiscal 2022 GAAP Measures
Q1 Fiscal 2022 GAAP Measures The following is our income (loss) from operations for the three months ended December 31, 2021 and 2020 calculated in accordance with GAAP. The presentation also includes references to the Company’s non-GAAP financials measures. The Company believes that, in addition to
Slide 5: Q1 QTD Fiscal 2022 Segment Performance
(1) Q1 QTD Fiscal 2022 Segment Performance ($ in thousands) Three months ended December 31, Period over period 2021 2020(2) growth Revenue Merchant Services $ 29,177 $ 25,061 16% Proprietary Software and Payments 44,774 19,993 124% Other (12) (433) (97)% Total $ 73,939 $ 44,621 66% Adjusted EBITDA(3
Slide 6: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The reconciliation of our quarterly income (loss) from operations to non-GAAP pro forma adjusted net income (loss) and non-GAAP adjusted EBITDA: ($ in thousands) Three months ended December 31, 2021 Three months ended December 31, 2020(1) Proprietary Pro
Slide 7: Reconciliation of Non-GAAP Financial Measures (Notes)
Reconciliation of Non-GAAP Financial Measures 1. Effective October 1, 2020, the Company's financial statements are presented in accordance with ASU 2021-08, Accounting Standards Codification Topic 805, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. See Note 21
Slide 8: Reconciliation Between GAAP Debt and Covenant Debt
Reconciliation Between GAAP Debt and Covenant Debt The reconciliation of our GAAP Long-term debt, net of issuance costs and the debt balance used in our Total Leverage Ratio: ($ in millions) As of December 31, 2021 Revolving lines of credit to banks under the Senior Secured Credit Facility $ 159.5 E