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Dec 31, 2020
i3 Verticals Q1 2021 Earnings Report
Reported financial results, showing an increase in revenue and adjusted net revenue, but a decrease in net income and adjusted EBITDA compared to the prior year's first quarter.
Key Takeaways
i3 Verticals reported a 5% increase in first quarter revenue, reaching $43.3 million. Adjusted net revenue increased by 8% to $44.9 million. However, the company experienced a net loss of $4.1 million, compared to a net income of $1.9 million in the prior year's first quarter. Adjusted EBITDA decreased by 8% to $10.9 million.
First quarter revenue increased by 5% year-over-year to $43.3 million.
Adjusted net revenue increased by 8% year-over-year to $44.9 million.
Net loss was $4.1 million, compared to net income of $1.9 million in the prior year's first quarter.
Adjusted EBITDA decreased by 8% year-over-year to $10.9 million.
Forward Guidance
The Company provided outlook for the fiscal year ending September 30, 2021, excluding future acquisitions and transaction-related costs.
Positive Outlook
- Adjusted net revenue is expected to be between $198 million and $214 million.
- Adjusted EBITDA is expected to be between $50 million and $56 million.
- Depreciation and internally developed software amortization is expected to be between $4.25 million and $4.75 million.
- Cash interest expense, net is expected to be between $4.25 million and $4.75 million.
- Adjusted diluted earnings per share is expected to be between $0.93 and $1.06.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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