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Mar 31, 2021
i3 Verticals Q2 2021 Earnings Report
Reported a mixed Q2 2021 with revenue increase but net loss compared to net income in the prior year's quarter.
Key Takeaways
i3 Verticals reported a 22% increase in revenue to $47.9 million for Q2 2021. However, the company experienced a net loss of $0.1 million, compared to a net income of $1.9 million in the same quarter last year. Adjusted EBITDA increased by 25% to $12.4 million.
Second quarter revenue increased by 22% year-over-year to $47.9 million.
Adjusted net revenue increased by 26% year-over-year to $49.4 million.
Net loss was $0.1 million, compared to net income of $1.9 million in the prior year's second quarter.
Adjusted EBITDA increased by 25% year-over-year to $12.4 million.
Forward Guidance
The Company is providing the following revised outlook for the fiscal year ending September 30, 2021:
Positive Outlook
- Adjusted net revenue is expected to be between $204 million and $220 million.
- Adjusted EBITDA is expected to be between $52 million and $58 million.
- Depreciation and internally developed software amortization is projected to be between $4.25 million and $4.5 million.
- Cash interest expense, net is expected to be between $4.75 million and $5.25 million.
- Pro forma adjusted diluted earnings per share is expected to be between $0.98 and $1.08.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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