I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q4 2022 Earnings Presentation
11 slides from I3 Verticals's earnings presentation, Nov 16, 2022
Slide 1: Q4 Fiscal 2022 Supplemental Information
Q4 Fiscal 2022 Supplemental Information
Slide 2: Revenue Composition
2 Revenue Composition ($ in thousands) Quarter Ended September 30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 March 31, 2021 Software and related service revenue SaaS(1) $ 8,833 $ 8,450 $ 7,899 $ 6,310 $ 6,173 $ 6,107 $ 5,632 Transaction-based(2) 3,137 3,253
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: Income (loss) from operations by segment
4 ($ in thousands) Three months ended September 30, 2022 Three months ended September 30, 2021 Merchant Services Software and Services Other Total Merchant Services Software and Services Other Total Income (loss) from operations $ 6,746 $ 12,923 $ (12,450) $ 7,219 $ 6,546 $ 5,958 $ (11,877) $ 627 ($
Slide 5: Segment Performance - Three months
5 Q4 Fiscal 2022 Segment Performance(1) ($ in thousands) Three months ended September 30, Period over period growth2022 2021 Revenue Merchant Services $ 33,410 $ 30,740 9% Software and Services 51,827 36,942 40% Other 13 (505) nm Total $ 85,250 $ 67,177 27% Adjusted EBITDA(2) Merchant Services $ 9,1
Slide 6: Segment Performance - Years
6 Q4 Fiscal 2022 Segment Performance(1) ($ in thousands) Years ended September 30, Period over period growth2022 2021 Revenue Merchant Services $ 124,481 $ 111,870 11% Software and Services 193,402 114,433 69% Other (21) (2,179) nm Total $ 317,862 $ 224,124 42% Adjusted EBITDA(2) Merchant Services $
Slide 7: Three months reconciliation of net income to adjusted EBITDA
7 ($ in thousands) Three months ended September 30, 2022 Three months ended September 30, 2021 Merchant Services Software and Services Other Total Merchant Services Software and Services Other Total Income (loss) from operations $ 6,746 $ 12,923 $ (12,450) $ 7,219 $ 6,546 $ 5,958 $ (11,877) $ 627 In
Slide 8: Footnotes to non-GAAP adjustments (three months)
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: Year reconciliation of net income to adjusted EBITDA
9 ($ in thousands) Year ended September 30, 2022 Year ended September 30, 2021 Merchant Services Software and Services Other Total Merchant Services Software and Services Other Total Income (loss) from operations $ 24,595 $ 20,003 $ (47,042) $ (2,444) $ 21,652 $ 16,207 $ (37,871) $ (12) Interest exp
Slide 10: Footnotes to non-GAAP adjustments (year)
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 September 30, 2022 Revolving lines of credit to banks under the Senior Secured Credit Facility $ 185.0 Exchangeable Notes 104.6 Debt issuance costs, net (2.6) Total long-term debt, net of issuance costs $ 287.0 Non-GAAP Adju