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Dec 31, 2019
i3 Verticals Q1 2020 Earnings Report
Reported financial results for the first quarter of fiscal year 2020.
Key Takeaways
i3 Verticals reported a decrease in revenue by 52% compared to the prior year's first quarter, with revenue totaling $41.1 million. However, adjusted net revenue increased by 41% to $41.6 million, and adjusted EBITDA increased by 38% to $11.9 million. The company's increased presence within the Public Sector vertical continues to be a driver.
Revenue was $41.1 million, a decrease of 52% over the prior year's first quarter.
Adjusted net revenue was $41.6 million, an increase of 41% over the prior year's first quarter.
Net income was $1.9 million, a decrease of 17.7% over the prior year's first quarter.
Adjusted EBITDA was $11.9 million, an increase of 38% over the prior year's first quarter.
Forward Guidance
The Company is providing the following revised outlook for the fiscal year ending September 30, 2020:
Positive Outlook
- Adjusted net revenue is expected to be between $162 million and $166 million.
- Adjusted EBITDA is expected to be between $46 million and $48 million.
- Adjusted diluted earnings per share is expected to be between $0.91 and $0.97.
- Assumes an effective pro forma tax rate of 25.0% (non-GAAP).
- Strong pipeline, and have several signed term sheets for acquisitions that would enhance existing business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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