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Dec 31, 2021
i3 Verticals Q1 2022 Earnings Report
Reported a 66% increase in revenue and a 72% increase in adjusted EBITDA compared to the prior year's first quarter.
Key Takeaways
i3 Verticals reported strong first quarter 2022 financial results, with record quarterly revenue and adjusted EBITDA. Revenue increased by 66% year-over-year, and adjusted EBITDA increased by 72.4%. The company also raised its 2022 outlook.
Revenue was $73.9 million, an increase of 66% over the prior year's first quarter.
Adjusted EBITDA was $18.3 million, an increase of 72.4% over the prior year's first quarter.
Pro forma adjusted diluted earnings per share was $0.35 compared to $0.21 for the prior year's first quarter.
The Company acquired a business effective December 31, 2021, that further strengthens the Company's Public Sector Vertical.
i3 Verticals
i3 Verticals
Forward Guidance
The Company is providing the following revised outlook for the fiscal year ending September 30, 2022:
Positive Outlook
- Revenue: $288,000,000 - $304,000,000
- Adjusted EBITDA (non-GAAP): $74,000,000 - $80,000,000
- Pro forma adjusted diluted earnings per share(1)(non-GAAP): $1.28 - $1.42