I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q4 2021 Earnings Presentation
25 slides from I3 Verticals's earnings presentation, Nov 17, 2021
Slide 1: Q4 Fiscal 2021 Supplemental Information
Q4 Fiscal 2021 Supplemental Information
Slide 2: Updates to Acquisition Revenue Adjustments
2 Updates to Acquisition Revenue Adjustments Under GAAP, companies historically were required to adjust, as necessary, beginning balances of acquired deferred revenue to fair value as part of acquisition accounting. Prior to the second quarter of our fiscal 2021 we included adjusted net revenue, adj
Slide 3: Q4 Fiscal 2021 GAAP Measures
3 ($ in thousands) Three months ended September 30, 2021 Three months ended September 30, 2020 Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 6,546 $ 5,958 $ (11,877) $ 627 $ 5,147 $ 2,72
Slide 4: Q4 Fiscal 2021 Segment Performance
4 Q4 Fiscal 2021 Segment Performance(1) ($ in thousands) Three months ended September 30, Period over period growth2021 2020 Revenue(2) Merchant Services $ 30,740 $ 24,759 24% Proprietary Software and Payments 36,942 13,924 165% Other (505) (411) nm Total $ 67,177 $ 38,272 76% Adjusted EBITDA(2)(3)
Slide 5: Fiscal 2021 Full Year Segment Performance
5 Q4 Fiscal 2021 Segment Performance(1) ($ in thousands) Years ended September 30, Period over period growth2021 2020 Revenue(2) Merchant Services $ 111,870 $ 100,949 11% Proprietary Software and Payments 114,433 50,953 125% Other (2,179) (1,768) nm Total $ 224,124 $ 150,134 49% Adjusted EBITDA(2)(3
Slide 6: Q4 Fiscal 2021 Non-GAAP Reconciliation
6 ($ in thousands) Three months ended September 30, 2021 Three months ended September 30, 2020 Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 6,546 $ 5,958 $ (11,877) $ 627 $ 5,147 $ 2,72
Slide 7: Q4 Reconciliation Footnotes
7 Reconciliation of Non-GAAP Financial Measures 1. Financing-related expenses includes expenses directly related to certain transactions as part of financing transactions. 2. Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consi
Slide 8: Fiscal Year 2021 Non-GAAP Reconciliation
8 ($ in thousands) Year ended September 30, 2021 Year ended September 30, 2020 Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 21,652 $ 16,207 $ (37,871) $ (12) $ 23,528 $ 8,704 $ (24,459)
Slide 9: Full Year Reconciliation Footnotes
9 Reconciliation of Non-GAAP Financial Measures 1. Financing-related expenses includes expenses directly related to certain transactions as part of financing transactions. 2. Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consi
Slide 10: Reconciliation Between GAAP Debt and Covenant Debt
10 Reconciliation Between GAAP Debt and Covenant Debt ($ in millions) As of September 30, 2021 Revolving lines of credit to banks under the Senior Secured Credit Facility $ 104.4 Exchangeable Notes 99.8 Debt issuance costs, net (3.6) Total long-term debt, net of issuance costs $ 200.6 Non-GAAP Adjus
Slide 11: Q3 Fiscal 2021 Supplemental Information
Q3 Fiscal 2021 Supplemental Information
Slide 12: Q3 Fiscal 2021 GAAP Measures
12 ($ in thousands) Three months ended June 30, 2021 Three months ended June 30, 2020 Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 5,569 $ 3,054 $ (9,458) $ (835) $ 4,975 $ 1,265 $ (5,8
Slide 13: Q3 Fiscal 2021 Segment Performance
13 Q3 Fiscal 2021 Segment Performance(1) ($ in thousands) Three months ended June 30, Period over period growth2021 2020(4) Revenue(2) Merchant Services $ 29,963 $ 22,222 35% Proprietary Software and Payments 33,729 9,767 245% Other (563) (416) nm Total $ 63,129 $ 31,573 100% Adjusted EBITDA(2)(3) M
Slide 14: Q3 Fiscal 2021 Non-GAAP Reconciliation
14 ($ in thousands) Three months ended June 30, 2021 Three months ended June 30, 2020(1) Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 5,569 $ 3,054 $ (9,458) $ (835) $ 4,975 $ 1,265 $ (
Slide 15: Q3 Reconciliation Footnotes
15 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 retro
Slide 16: Q2 Fiscal 2021 Supplemental Information
Q2 Fiscal 2021 Supplemental Information
Slide 17: Q2 Fiscal 2021 GAAP Measures
17 ($ in thousands) Three months ended March 31, 2021 Three months ended March 31, 2020 Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 4,684 $ 5,250 $ (8,735) $ 1,199 $ 4,979 $ 3,842 $ (6
Slide 18: Q2 Fiscal 2021 Segment Performance
18 Q2 Fiscal 2020 Segment Performance(1) ($ in thousands) Three months ended March 31, Period over period growth2021 2020(3) Revenue(2) Merchant Services $ 26,106 $ 25,729 1% Proprietary Software and Payments 23,769 13,980 70% Other (678) (531) nm Total $ 49,197 $ 39,178 26% Adjusted EBITDA(2) Merch
Slide 19: Q2 Fiscal 2021 Non-GAAP Reconciliation
19 ($ in thousands) Three months ended March 31, 2021 Three months ended March 31, 2020(1) Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 4,684 $ 5,250 $ (8,735) $ 1,199 $ 4,979 $ 3,842 $
Slide 20: Q2 Reconciliation Footnotes
20 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 retro
Slide 21: Q1 Fiscal 2021 Supplemental Information
Q1 Fiscal 2021 Supplemental Information
Slide 22: Q1 Fiscal 2021 GAAP Measures
22 ($ in thousands) Three months ended December 31, 2020 Three months ended December 31, 2019 Merchant Services Proprietary Software and Payments Other Total Merchant Services Proprietary Software and Payments Other Total Income (loss) from operations $ 4,853 $ 1,945 $ (7,801) $ (1,003) $ 8,427 $ 86
Slide 23: Q1 Fiscal 2021 Segment Performance
23 Q1 Fiscal 2021 Segment Performance(1) ($ in thousands) Three months ended December 31, Period over period growth2020 2019(3) Revenue(2) Merchant Services $ 25,061 $ 28,239 (11)% Proprietary Software and Payments 19,993 13,282 51% Other (433) (410) nm Total $ 44,621 $ 41,111 9% Adjusted EBITDA(2)
Slide 24: Q1 Fiscal 2021 Non-GAAP Reconciliation
24 ($ 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 $ 4,853 $ 1,945 $ (7,801) $ (1,003) $ 8,427 $
Slide 25: Q1 Reconciliation Footnotes
25 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 retro