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Sep 30, 2023
i3 Verticals Q4 2023 Earnings Report
Reported financial results for the fiscal fourth quarter and year ended September 30, 2023.
Key Takeaways
i3 Verticals reported a strong fourth quarter and full fiscal year 2023, with revenue increasing by 13.1% in the fourth quarter and net income turning positive compared to a net loss in the previous year's fourth quarter. The company's adjusted EBITDA also saw a significant increase. They also provided their 2024 outlook.
Fourth quarter revenue increased by 13.1% year-over-year, reaching $96.4 million.
Fourth quarter net income was $3.4 million, a significant improvement from the prior year's net loss of $4.4 million.
Adjusted EBITDA for the fourth quarter increased by 23.2% year-over-year, reaching $26.8 million.
Diluted net income per share available to Class A common stock was $0.11, compared to a net loss per share of $0.15 in the prior year's fourth quarter.
i3 Verticals
i3 Verticals
Forward Guidance
The Company is providing the following outlook for the fiscal year ending September 30, 2024, excluding the impact of future acquisitions and transaction-related costs.
Positive Outlook
- Revenue between $385,000,000 and $410,000,000
- Adjusted EBITDA between $109,000,000 and $119,000,000
- Depreciation and internally developed software amortization between $11,000,000 and $13,000,000
- Cash interest expense between $22,000,000 and $25,000,000
- Proforma adjusted diluted earnings per share between $1.60 and $1.78