I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q2 2024 Earnings Presentation
11 slides from I3 Verticals's earnings presentation, May 10, 2024
Slide 1: Q2 Fiscal Year 2024 Supplemental Information
Q2 FISCAL YEAR 2024 Supplemental Information 1
Slide 2: Revenue Composition
Revenue Composition ($ in thousands) Quarter Ended March 31, December 31, September 30, March 31, December 31, September 30, March 31, 2024 2023 2023 June 30, 2023 2023 2022 2022 June 30, 2022 2022 Software and related service revenue SaaS(1) $ 10,843 $ 10,453 $ 10,864 $ 10,170 $ 9,901 $ 9,230 $ 8,8
Slide 3: Annualized Recurring Revenue (ARR) footnotes
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: Q2 Fiscal 2024 GAAP Measures
Q2 Fiscal 2024 GAAP Measures The following is our income (loss) from operations for the three and six months ended March 31, 2024 and 2023 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: Q2 Fiscal 2024 Segment Performance
Q2 Fiscal 2024 Segment Performance(1) ($ in thousands) Three Months Ended March 31, Period over period 2024 2023 growth Revenue Software and Services $ 59,483 $ 60,797 (2)% Merchant Services 35,075 33,094 6% Other (16) (19) (16)% Total $ 94,542 $ 93,872 1% Adjusted EBITDA(2) Software and Services $
Slide 6: Q2 YTD Fiscal 2024 Segment Performance
Q2 YTD Fiscal 2024 Segment Performance(1) ($ in thousands) Six Months Ended March 31, Period over period 2024 2023 growth Revenue Software and Services $ 116,072 $ 114,010 2% Merchant Services 70,497 65,928 7% Other (37) (37) —% Total $ 186,532 $ 179,901 4% Adjusted EBITDA(2) Software and Services $
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 and non-GAAP adjusted EBITDA excluding acquisition revenue adjustments is as follows: ($ in thousands) Three Months Ended March 31, 2024 Three Mon
Slide 8: Reconciliation of Non-GAAP Financial Measures (footnotes)
Reconciliation of Non-GAAP Financial Measures 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 balanc
Slide 9: Reconciliation of Non-GAAP Financial Measures (year to date)
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) Six Months Ended March 31, 2024 S
Slide 10: Reconciliation of Non-GAAP Financial Measures (footnotes)
Reconciliation of Non-GAAP Financial Measures 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 balanc
Slide 11: Reconciliation Between GAAP Debt and Covenant Debt
Reconciliation Between GAAP Debt and Covenant Debt The reconciliation of our GAAP debt, before issuance costs, and the debt balance used in our Total Leverage Ratio is as follows: ($ in millions) As of March 31, 2024 Revolving lines of credit to banks under the 2023 Senior Secured Credit Facility $