Loading...
•
Dec 31, 2023
i3 Verticals Q1 2024 Earnings Report
Reported financial results for the first quarter of fiscal year 2024.
Key Takeaways
i3 Verticals reported a 6.9% increase in revenue to $92.0 million and a net income of $1.5 million for the first quarter of fiscal year 2024. The company's Board of Directors has initiated a process to explore the potential sale of certain assets related to its merchant services business.
Revenue increased by 6.9% to $92.0 million compared to the prior year's first quarter.
Net income was $1.5 million, a significant increase from $0.2 million in the prior year's first quarter.
Adjusted EBITDA increased by 6.6% to $25.2 million compared to the prior year's first quarter.
Annualized Recurring Revenue (ARR) grew by 9.2% to $316.9 million.
Forward Guidance
The Company is providing the following revised outlook for the fiscal year ending September 30, 2024, excluding the impact of acquisitions, dispositions and transaction-related costs, and not taking into account any impact of the potential sale of i3 Verticals' Merchant Services Business.
Positive Outlook
- Revenue is expected to be in the range of $385 million to $400 million.
- Adjusted EBITDA is expected to be in the range of $109 million to $115 million.
- Depreciation and internally developed software amortization is expected to be in the range of $11 million to $13 million.
- Pro forma adjusted diluted earnings per share is expected to be in the range of $1.52 to $1.64.
- Cash interest expense, net is expected to be in the range of $26 million to $29 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...