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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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