I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q2 FY2026 Earnings Presentation
19 slides from I3 Verticals's earnings presentation, Jun 2, 2026
Slide 1: Quarter 2 Fiscal Year 2026
A VERTICALS Quarter 2 Fiscal Year 2026
Slide 2: Forward-Looking Statements
2 Except as otherwise indicated or unless the context otherwise requires, all references in this presentation to “we,” “our,” “us,” “i3,” the “Company” or “i3 Verticals” refer to i3 Verticals, Inc. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of
Slide 3: i3: Software Solutions for the Public Sector
3 i3 Verticals provides mission-critical enterprise software solutions to its public sector entities. The Company’s mission is to enable state and local governments and related agencies to perform their functions and serve their constituents as effectively and efficiently as possible i3: Software So
Slide 4: i3 Verticals at a Glance
4 GovTech Vertical Software With an Attractive ARR Profile 1.) Adjusted EBITDA is a Non-GAAP financial measures. Refer to the Appendix for Reconciliation of Non-GAAP financial measure. 2.) Annualized Recurring Revenue (ARR) is the quarterly recurring revenue multiplied by 4. See a reconciliation in
Slide 5: Public Sector Market Needs
5 Modernize Legacy Systems Automation to Offset Talent Attrition Pricing Flexibility Due to Unique Funding Models Enhanced Constituent Accessibility Compliance Requirements Cybersecurity & Privacy Public Sector Market Needs
Slide 6: JusticeTech & Public Safety
6 JusticeTech & Public Safety We are a leading provider of case management solutions, the core enterprise solution of courts. We then enhance that offering with a constellation of additive solutions that help courts and law enforcement do their jobs efficiently and effectively ➤Case Management Syste
Slide 7: Utilities
7 Utilities We simplify the complications of billing and allow utilities to give their customers a wonderful customer experience ➤Customer Information Systems (CIS) for Utility Billing ➤Customer Engagement Suite ➤Bill Presentment and Payment Acceptance ➤Electronic Interactive Voice Response (EIVR)
Slide 8: Transportation
8 Transportation Enterprise solutions for Departments of Transportation and Departments of Revenue to improve compliance and drive efficiency state-wide ➤Motor Vehicle ➤Vehicle Title and Registration System (VTRS) ➤Electronic Insurance Verification System (EIVS) ➤EZ Tag (Temporary Tags) ➤ Integrated
Slide 9: Public Administration
9 Public Administration Enterprise solutions for state and local governments that are deeply integrated into the business processes of our customers ➤Regulatory Licensing & Permitting ➤Government Fund Accounting (GFA) ➤Appraisal & Tax ➤Land Records Management ➤Human Capital Management ➤Revenue Cycle
Slide 10: Education
10 Education We streamline payment processing and administrative tasks for schools, allowing them to run lunch programs that work for students, parents, and administrators ➤K-12 Payments for Lunch, Tickets, Concessions and Tuition ➤Nutrition Services ➤Ticket & Event Management ➤Compliance and Report
Slide 11: Key Drivers of Shareholder Value
11 Key Drivers of Shareholder Value(1) Sustained Organic Growth in Under-Penetrated Verticals Growing Recurring Revenue Streams Public Sector is the Ideal End Market Business Model with Defensive Moats • $183.5 million of ARR • 80% Recurring Revenue • Fragmented • Underserved • Urgency to Modernize
Slide 12: Quarterly Revenue ($ in thousands)
12 ($ in thousands) Quarter Ended March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 Recurring revenue SaaS(2) $ 12,658 $ 10,959 $ 10,375 $ 9,299 $ 9,209 $ 8,812 $ 8,331 $ 7,517 $ 7,500 Transaction-based(
Slide 13: Revenue Definitions and Footnotes
13 1.) As a result of the sale of our merchant services business (the "Merchant Services Business"), which was completed on September 20, 2024, and the sale of our Healthcare revenue cycle management business (the "Healthcare RCM Business"), which was completed on May 5, 2025, the historical results
Slide 14: Reconciliation of Free Cash Flow from Continuing Operations
14 The reconciliation from our non-GAAP adjusted EBITDA to our Free Cash Flow from continuing operations is as follows: Reconciliation of Free Cash Flow from Continuing Operations ($ in thousands, except share and per share amounts) Three Months Ended March 31, 2026 December 31, 2025 September 30, 2
Slide 15: Adjusted EBITDA and Cost Summary
15 1.) Recurring cash costs of services represents recurring operating costs directly related to our revenue generating activities except the stock compensation portion of personnel costs included within costs of services. 2.) Recurring cash SG&A expenses represents recurring operating costs such as
Slide 16: Reconciliation of Non-GAAP Financial Measures
16 The reconciliation of our (loss) income from continuing operations attributable to i3 Verticals, Inc. to non-GAAP adjusted income before taxes from continuing operations, non-GAAP adjusted net income from continuing operations and non-GAAP adjusted EBITDA from continuing operations for the curren
Slide 17: Reconciliation of Non-GAAP Financial Measures Footnotes
17 Reconciliation of Non-GAAP Financial Measures 1.) As a result of the sale of our merchant services business (the "Merchant Services Business"), which was completed on September 20, 2024, and the sale of our Healthcare revenue cycle management business (the "Healthcare RCM Business"), which was co
Slide 18: Reconciliation of GAAP and Adjusted Diluted EPS
18 The reconciliation of our GAAP diluted EPS from continuing operations and non-GAAP Adjusted diluted EPS from continuing operations for the current and prior year quarters are as follows: ($ in thousands, except share and per share amounts) Three Months Ended March 31, 2026 December 31, 2025 Septe
Slide 19: Adjusted EPS Footnotes
19 1.) Diluted net income (loss) per share attributable to Class A common stockholders from continuing operations and adjusted diluted earnings per share from continuing operations both exclude the discontinued operations of the Merchant Services Business and the Healthcare RCM Business but include