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Jun 30, 2023
i3 Verticals Q3 2023 Earnings Report
Reported financial results with revenue increase and strategic progress.
Key Takeaways
i3 Verticals reported a 16.6% increase in revenue to $93.9 million for Q3 2023, but experienced a net loss of $6.1 million. The company also secured new state-level contracts in its Public Sector.
Revenue increased by 16.6% compared to the prior year's third quarter, reaching $93.9 million.
Net loss was $6.1 million, compared to a net loss of $4.7 million in the prior year's third quarter.
ARR grew by 16.8% year-over-year, reaching $311.4 million.
Software and related services revenue accounted for 50.3% of total revenue.
i3 Verticals
i3 Verticals
Forward Guidance
The Company is reaffirming its outlook for the fiscal year ending September 30, 2023.