I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q1 2021 Earnings Presentation
9 slides from I3 Verticals's earnings presentation, Feb 8, 2021
Slide 1: Q1 Fiscal 2021 Supplemental Information
Q1 Fiscal 2021 Supplemental Information
Slide 2: Q1 Fiscal 2021 Segment Performance
2 Q1 Fiscal 2021 Segment Performance(1) ($ in thousands) Three months ended December 31, Period over period growth2020 2019(3) Adjusted Net Revenue(2) Merchant Services, excluding Purchased Portfolios $ 24,126 $ 26,906 (10)% Purchased Portfolios 935 1,333 (30)% Merchant Services 25,061 28,239 (11)%
Slide 3: Reconciliation of Non-GAAP Financial Measures
3 Reconciliation of Non-GAAP Financial Measures ($ in thousands) Three months ended December 31, 2020 Merchant Services(2) Proprietary Software and Payments Other Total Revenue $ 24,970 $ 18,776 $ (433) $ 43,313 Acquisition revenue adjustments(1) 91 1,504 — 1,595 Adjusted Net Revenue $ 25,061 $ 20,2
Slide 4: Reconciliation of Non-GAAP Adjusted EBITDA by Segment
4 ($ in thousands) Three months ended December 31, 2020 Three months ended December 31, 2019(1) Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 4,762 $ 728 $ (7,801) $ (2,311) $ 8,427 $ 86
Slide 5: Non-GAAP Reconciliation Footnotes
5 Reconciliation of Non-GAAP Financial Measures 1. Effective July 1, 2020, the Company reassigned a component from the Proprietary Software and Payments segment to the Merchant Services segment to better align the Company's business within its segments. The prior period comparatives have been retroa
Slide 6: Reconciliation Between GAAP Debt and Covenant Debt
6 Reconciliation Between GAAP Debt and Covenant Debt ($ in millions) As of December 31, 2020 Revolving lines of credit to banks under the Senior Secured Credit Facility $ 49.3 Exchangeable Notes 96.4 Debt issuance costs, net (4.3) Total long-term debt, net of issuance costs $ 141.4 Non-GAAP Adjustme
Slide 7: Payment Volumes Through the COVID-19 Pandemic
7 Payment Volumes Through the COVID-19 Pandemic ($ in millions) Consolidated Average Daily Payments Volume(1) Average daily payments volume for the week ending February 15, 2020 through the week ending January 30, 2021 34.7 36.1 37.3 39.3 35.2 23.3 18.6 19.7 18.9 20.320.5 23.4 25.3 25.9 26.8 26.3 30
Slide 8: Software Revenues Remain Resilient
8 Software Revenues Remain Resilient ($ in millions) Software and Related and Services Revenue Trends(1) (Monthly Adjusted Net Revenue)(2) Software and Related Services Monthly Revenue in Q2 2020 through Q1 2021 $3.0 $3.1 $3.4 $2.6 $2.7 $2.8 $2.9 $3.2 $3.9 $3.8 $6.3 $6.2 Jan uar y Feb rua ry Ma rch
Slide 9: Reconciliation of Revenue to Adjusted Net Revenue
9 Reconciliation of Non-GAAP Financial Measures The reconciliation of our revenue to adjusted net revenue(1) is as follows: ($ in thousands) Three Months Ended, March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 Other revenue $ 12,792 $ 10,926 $ 13,161 $ 17,701 Payments revenue 26,386