I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q3 FY2024 Earnings Presentation
13 slides from I3 Verticals's earnings presentation, Aug 8, 2024
Slide 1: Supplemental Information Q3 Fiscal Year 2024
1 Supplemental Information Q3 FISCAL YEAR 2024
Slide 2: Revenue Composition - Continuing Operations
2 ($ in thousands) Quarter Ended June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 June 30, 2023 March 31, 2023 December 31, 2022 September 30, 2022 June 30, 2022 Software and related service revenue SaaS(2) $ 8,834 $ 8,809 $ 8,742 $ 8,977 $ 8,523 $ 8,244 $ 7,713 $ 7,438 $ 7,001 Tran
Slide 3: Revenue Composition Footnotes
3 1.) As a result of the contemplated sale of our merchant services business (the “Merchant Services Business”) pursuant to the terms of the securities purchase agreement dated as of June 26, 2024 (the “Purchase Agreement”), entered into by us with Payroc, the historical results of our Merchant Serv
Slide 4: Q3 Fiscal 2024 GAAP Measures
4 Q3 Fiscal 2024 GAAP Measures ($ in thousands) Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Software and Services Other Total Software and Services Other Total Income (loss) from operations $ 10,844 $ (11,513) $ (669) $ 7,017 $ (11,594) $ (4,577) The following is our income (lo
Slide 5: Q3 QTD & YTD 2024 Continuing Operations
5 Q3 QTD & YTD 2024 Continuing Operations(1) ($ in thousands) Three Months Ended June 30, Period over period growth2024 2023 Revenue from continuing operations Software and Services $ 56,037 $ 57,271 (2)% Other — (11) Total Revenue from continuing operations $ 56,037 $ 57,260 Adjusted EBITDA from co
Slide 6: 2024 Continuing Operations by Quarter
6 2024 Continuing Operations(1) ($ in thousands) Three Months Ended Nine months ended June 30, 2024December 31, 2023 March 31, 2024 June 30, 2024 Revenue from continuing operations Software and Services $ 55,075 $ 57,984 $ 56,037 $ 169,096 Other (21) (16) — (37) Total Revenue from continuing operati
Slide 7: Reconciliation of Quarterly Income (Loss) to Non-GAAP Measures
7 Reconciliation of Non-GAAP Financial Measures The reconciliation of our quarterly income (loss) from continuing operations to non-GAAP pro forma adjusted net income from continuing operations and non-GAAP adjusted EBITDA from continuing operations is as follows: See footnotes continued on the next
Slide 8: Non-GAAP Reconciliation Footnotes
8 1.) Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the later of the most recent balance sheet date forming the beginning of the in
Slide 9: Nine Months Ended Reconciliation
9 ($ in thousands) Nine Months Ended June 30, 2024 Nine Months Ended June 30, 2023 Reconciliation presents Software and Services Other Total Software and Services Other Total Income (loss) from operations $ 36,702 $ (33,402) $ 3,300 $ 29,669 $ (34,493) $ (4,824) Interest expense, net 7 22,300 22,307
Slide 10: Non-GAAP Reconciliation Footnotes
10 1.) Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the later of the most recent balance sheet date forming the beginning of the i
Slide 11: Reconciliation of Quarterly Income (Loss) to Non-GAAP Measures
11 Reconciliation of Non-GAAP Financial Measures The reconciliation of our quarterly income (loss) from continuing operations to non-GAAP pro forma adjusted net income from continuing operations and non-GAAP adjusted EBITDA from continuing operations is as follows: See footnotes continued on the nex
Slide 12: Non-GAAP Reconciliation Footnotes
12 1.) Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the later of the most recent balance sheet date forming the beginning of the i
Slide 13: Reconciliation Between GAAP Debt and Covenant Debt
13 ($ in millions) As of June 30, 2024 Revolving lines of credit to banks under the 2023 Senior Secured Credit Facility $ 351.4 1% Exchangeable Senior Notes due 2025 26.2 Less: Cash and Cash Equivalents (9.7) Total debt for use in our Total Leverage Ratio $ 367.9 Reconciliation Between GAAP Debt and