I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q1 2023 Earnings Presentation
8 slides from I3 Verticals's earnings presentation, Feb 9, 2023
Slide 1: Q1 Fiscal 2023 Supplemental Information
Q1 Fiscal 2023 Supplemental Information
Slide 2: Revenue Composition
Revenue Composition ($ in thousands) Quarter Ended December 31, September 30, December 31, September 30, 2022 2022 June 30, 2022 March 31, 2022 2021 2021 June 30, 2021 March 31, 2021 Software and related service revenue SaaS(1) $ 9,230 $ 8,833 $ 8,450 $ 7,899 $ 6,310 $ 6,173 $ 6,107 $ 5,632 (2) Tran
Slide 3: Annualized Recurring Revenue ("ARR")
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 charge
Slide 4: Q1 Fiscal 2023 GAAP Measures
Q1 Fiscal 2023 GAAP Measures The following is our income (loss) from operations for the three months ended December 31, 2022 and 2021 calculated in accordance with GAAP. The presentation also includes references to the Company’s non-GAAP financials measures. The Company believes that, in addition to
Slide 5: Q1 Fiscal 2023 Segment Performance
(1) Q1 Fiscal 2023 Segment Performance ($ in thousands) Three months ended December 31, Period over period 2022 2021 growth Revenue Merchant Services $ 32,834 $ 29,177 13% Software and Services 53,213 44,774 19% Other (18) (12) 50% Total $ 86,029 $ 73,939 16% Adjusted EBITDA(2) Merchant Services $ 9
Slide 6: 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 (loss) and non-GAAP adjusted EBITDA: ($ in thousands) Three months ended December 31, 2022 Three months ended December 31, 2021 Merchant Software
Slide 7: Reconciliation of Non-GAAP Financial Measures
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 balance
Slide 8: Reconciliation Between GAAP Debt and Covenant Debt
Reconciliation Between GAAP Debt and Covenant Debt The reconciliation of our GAAP Long-term debt, before issuance costs, and the debt balance used in our Total Leverage Ratio: ($ in millions) As of December 31, 2022 Revolving lines of credit to banks under the Senior Secured Credit Facility $ 263.2