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Sep 30, 2020
i3 Verticals Q4 2020 Earnings Report
Reported financial results for the fiscal fourth quarter and year ended September 30, 2020.
Key Takeaways
i3 Verticals reported a decrease of 65% in fourth-quarter revenue compared to the prior year, but adjusted net revenue decreased only by 5%. The company completed seven software acquisitions since July 1, 2020, and net loss attributable to i3 Verticals, Inc. was $0.7 million. They are confident in their ability to deliver solid financial results in 2021 and capitalize on opportunities.
Fourth quarter revenue was $38.3 million, a decrease of 65% over the prior year's fourth quarter.
Fourth quarter adjusted net revenue was $38.4 million, a decrease of 5% over the prior year's fourth quarter.
Fourth quarter net loss attributable to i3 Verticals, Inc. was $0.7 million.
Fourth quarter adjusted EBITDA was $9.7 million, a decrease of 17% over the prior year's fourth quarter.
i3 Verticals
i3 Verticals
Forward Guidance
The COVID-19 pandemic has created significant uncertainty in the economy and the extent to which the COVID-19 pandemic 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, 2021.