I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q3 2023 Earnings Presentation
11 slides from I3 Verticals's earnings presentation, Aug 8, 2023
Slide 1: Q3 Fiscal 2023 Supplemental Information
Q3 Fiscal 2023 Supplemental Information
Slide 2: Revenue Composition
2 Revenue Composition ($ in thousands) Quarter Ended June 30, 2023 March 31, 2023 December 31, 2022 September 30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 September 30, 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)
3 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 char
Slide 4: Q3 Fiscal 2023 GAAP Measures
4 Q3 Fiscal 2023 GAAP Measures ($ in thousands) Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Software and Services Merchant Services Other Total Software and Services Merchant Services Other Total Income (loss) from operations $ 7,951 $ 7,883 $ (13,202) $ 2,632 $ 2,248 $ 6,451 $
Slide 5: Q3 Fiscal 2023 Segment Performance
5 Q3 Fiscal 2023 Segment Performance(1) ($ in thousands) Three Months Ended June 30, Period over period growth2023 2022 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
6 Q3 YTD Fiscal 2023 Segment Performance(1) ($ in thousands) Nine Months Ended June 30, Period over period growth2023 2022 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: Three Months Non-GAAP Reconciliation
7 ($ in thousands) Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 Software and Services Merchant Services Other Total Software and Services Merchant Services Other Total Income (loss) from operations $ 7,951 $ 7,883 $ (13,202) $ 2,632 $ 2,248 $ 6,451 $ (11,430) $ (2,731) Interest
Slide 8: Reconciliation footnotes
8 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 9: Nine Months Non-GAAP Reconciliation
9 ($ in thousands) Nine Months Ended June 30, 2023 Nine Months Ended June 30, 2022 Software and Services Merchant Services Other Total Software and Services Merchant Services Other Total Income (loss) from operations $ 32,383 $ 20,674 $ (39,143) $ (18,469) $ 7,080 $ 17,849 $ (34,592) $ (16,743) Inte
Slide 10: Reconciliation footnotes
10 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 cons
Slide 11: Reconciliation Between GAAP Debt and Covenant Debt
11 Reconciliation Between GAAP Debt and Covenant Debt ($ in millions) As of June 30, 2023 Revolving lines of credit to banks under the 2023 Senior Secured Credit Facility $ 277.4 1% Exchangeable Senior Notes due 2025 117.0 Less: Cash and Cash Equivalents (5.0) Total long-term debt for use in our Tot