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Sep 30, 2024
i3 Verticals Q4 2024 Earnings Report
Reported financial results for the fiscal fourth quarter and year, showing an increase in revenue and net income compared to the previous year's fourth quarter.
Key Takeaways
i3 Verticals reported a 3.9% increase in fourth-quarter revenue, reaching $60.9 million, and a net income of $7.0 million, a significant improvement from the prior year's net loss of $1.2 million. The company's focus on recurring revenue contributed to a 7.5% increase in ARR. They reaffirmed their 2025 outlook, anticipating continued revenue growth and margin expansion.
Fourth quarter revenue increased by 3.9% year-over-year to $60.9 million.
Net income for the quarter was $7.0 million, a significant improvement from the prior year's net loss of $1.2 million.
Adjusted EBITDA increased by 3.5% year-over-year to $16.2 million.
Annualized Recurring Revenue (ARR) grew by 7.5% to $188.2 million.
Forward Guidance
The Company's practice is to provide annual guidance, excluding the impact of future acquisitions, dispositions and transaction-related costs. The Company is providing the following outlook for the fiscal year ending September 30, 2025, which remains unchanged from the previous guidance included in the Company's earnings release issued on August 8, 2024:
Positive Outlook
- Revenue $243,000,000 - $263,000,000
- Adjusted EBITDA (non-GAAP) $63,000,000 - $71,500,000
- Depreciation and internally developed software amortization $12,000,000 - $14,000,000
- Cash interest expense $1,000,000 - $2,000,000
- Pro forma adjusted diluted earnings per share(1)(non-GAAP) $1.05 - $1.25
Historical Earnings Impact
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Avg. Return Before/After Earnings
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