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Mar 31, 2020
i3 Verticals Q2 2020 Earnings Report
i3 Verticals reported a strong second quarter, but experienced a decline in payment volume in the second half of March due to the COVID-19 pandemic.
Key Takeaways
i3 Verticals reported its financial results for the fiscal second quarter ended March 31, 2020. Second quarter revenue was $39.2 million, a decrease of 54% over the prior year's second quarter. Second quarter net income was $1.9 million, compared to a net loss of $1.2 million in the prior year's second quarter.
Second quarter revenue decreased by 54% year-over-year to $39.2 million.
Adjusted net revenue increased by 25% year-over-year to $39.3 million.
Second quarter net income was $1.9 million, compared to a net loss of $1.2 million in the prior year's second quarter.
Adjusted EBITDA increased by 14% year-over-year to $10.0 million.
i3 Verticals
i3 Verticals
Forward Guidance
The COVID-19 pandemic has created significant uncertainty in the economy and the extent to which COVID-19 will impact the Company's future results is difficult to reasonably estimate at this time. Therefore, the Company is not providing a financial outlook for the fiscal year ending September 30, 2020.