I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q3 2023 Earnings Presentation
11 slides from I3 Verticals's earnings presentation, 2023
Slide 1: Q3 Fiscal 2023 Supplemental Information
Q3 Fiscal 2023 Supplemental Information
Slide 2: Revenue Composition
Revenue Composition ($ in thousands) Quarter Ended December 31, September 30, December 31, September 30, June 30, 2023 March 31, 2023 2022 2022 June 30, 2022 March 31, 2022 2021 2021 June 30, 2021 Software and related service revenue SaaS(1) $ 10,170 $ 9,901 $ 9,230 $ 8,833 $ 8,450 $ 7,899 $ 6,310 $
Slide 3: Annualized Recurring Revenue (ARR)
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: Q3 Fiscal 2023 GAAP Measures
Q3 Fiscal 2023 GAAP Measures The following is our income (loss) from operations for the three and nine months ended June 30, 2023 and 2022 calculated in accordance with GAAP. The presentation also includes references to non-GAAP financial measures presented by the Company. The Company believes that
Slide 5: Q3 Fiscal 2023 Segment Performance
(1) Q3 Fiscal 2023 Segment Performance ($ in thousands) Three Months Ended June 30, Period over period 2023 2022 growth Revenue Software and Services $ 58,901 $ 47,839 23% Merchant Services 35,040 32,714 7% Other (10) — —% Total $ 93,931 $ 80,553 17% Adjusted EBITDA(2) Software and Services $ 20,839
Slide 6: Q3 YTD Fiscal 2023 Segment Performance
(1) Q3 YTD Fiscal 2023 Segment Performance ($ in thousands) Nine Months Ended June 30, Period over period 2023 2022 growth Revenue Software and Services $ 172,911 $ 141,575 22% Merchant Services 100,968 91,071 11% Other (47) (34) 38% Total $ 273,832 $ 232,612 18% Adjusted EBITDA(2) Software and Serv
Slide 7: 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 June 30, 2023 Three Months Ended June 30, 2022 Software and Merchant Soft
Slide 8: Reconciliation of Non-GAAP Financial Measures
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 conside
Slide 9: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The reconciliation of our fiscal year to date income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA excluding acquisition revenue adjustments is as follows: ($ in thousands) Nine Months Ended June 30, 2023 N
Slide 10: Reconciliation of Non-GAAP Financial Measures
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 conside
Slide 11: Reconciliation Between GAAP Debt and Covenant Debt
Reconciliation Between GAAP Debt and Covenant Debt The reconciliation of our GAAP Long-term debt, before issuance costs, and the debt balance used in our Total Leverage Ratio: ($ in millions) As of June 30, 2023 Revolving lines of credit to banks under the 2023 Senior Secured Credit Facility $ 277.4