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Jun 30, 2021
i3 Verticals Q3 2021 Earnings Report
Reported financial results with revenue increase and net loss compared to the previous year's third quarter
Key Takeaways
i3 Verticals reported a strong third quarter with a 96% increase in revenue compared to the prior year's third quarter. The company achieved new records in revenue, adjusted EBITDA, software revenue, payment volume and integration mix. However, the company reported a net loss of $4.6 million, compared to a net loss of $2.8 million in the prior year's third quarter.
Third quarter revenue was $62.0 million, an increase of 96% over the prior year's third quarter.
Third quarter net loss was $4.6 million, compared to net loss of $2.8 million in the prior year's third quarter.
Software and related services revenue as a percentage of total revenue was 40%.
Integrated payments were 60% of payment volume for the three months ended June 30, 2021.
i3 Verticals
i3 Verticals
Forward Guidance
The Company is providing the following revised outlook for the fiscal year ending September 30, 2021:
Positive Outlook
- Revenue (excludes Acquisition Revenue Adjustments) $212,000,000 - $222,000,000
- Adjusted EBITDA(1) (excludes Acquisition Revenue Adjustments) $49,000,000 - $52,500,000
- Pro forma adjusted diluted earnings per share(1)(2) (excludes Acquisition Revenue Adjustments) $0.90 - $0.96
- Acquisition revenue adjustments(1)(3) $5,083,000
- Acquisition Revenue Adjustments impact on pro forma adjusted diluted earnings per share(1)(2)(3) $0.11