i3 Verticals, Inc.
For the period ended Jun 30, 2025. Filed Aug 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 8, 2025
IIIV$19.32+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
| Nine months ended June 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $22,302 | $(3,414) |
| Adjustments to reconcile net income (loss) from operating activities: | ||
| Depreciation and amortization | 22,788 | 29,865 |
| Equity-based compensation | 15,142 | 17,387 |
| Amortization of debt issuance costs | 746 | 897 |
| Gain on repurchase of exchangeable notes | — | (2,397) |
| Loss on sale of exchangeable senior note hedges | — | 245 |
| Gain on repurchases of warrants | — | (105) |
| Provision for deferred income taxes | 3,644 | 4,078 |
| Adjustments to gain on sale of Merchant Services Business | 661 | — |
| Gain on sale of Healthcare RCM Business | (25,960) | — |
| Non-cash lease expense | 1,933 | 3,534 |
| Changes in non-cash contingent consideration expense from original estimate | 1,743 | (545) |
| Other non-cash adjustments to net income | 36 | 793 |
| Changes in operating assets: | ||
| Accounts receivable | 1,955 | 7,574 |
| Prepaid expenses and other current assets | (922) | (1,398) |
| Other assets | (1,023) | (1,076) |
| Changes in operating liabilities: | ||
| Accounts payable | (677) | (415) |
| Accrued expenses and other current liabilities | (37,450) | (6,718) |
| Acquisition escrow obligations | (2,174) | (1,820) |
| Deferred revenue | (7,597) | (3,141) |
| Operating lease liabilities | (2,561) | (3,510) |
| Other long-term liabilities | (102) | (2) |
| Contingent consideration paid in excess of original estimates | (760) | (6,566) |
| Net cash (used in) provided by operating activities | (8,276) | 33,266 |
| Cash flows from investing activities: | ||
| Expenditures for property and equipment | (1,516) | (2,434) |
| Proceeds from sale of property and equipment | 1,501 | 618 |
| Expenditures for capitalized software | (6,301) | (9,223) |
| Purchases of merchant portfolios and residual buyouts | (12) | (4,585) |
| Acquisitions of businesses, net of cash and restricted cash acquired | (11,000) | (1,100) |
| Proceeds from sale of Healthcare RCM Business, net of cash sold | 96,102 | — |
| Payments for other investing activities | — | (39) |
| Proceeds from other investing activities | — | 8 |
| Net cash provided by (used in) investing activities | 78,774 | (16,755) |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (CONTINUED)
| Nine months ended June 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from financing activities: | ||
| Proceeds from revolving credit facility | 58,024 | 296,043 |
| Payments on revolving credit facility | (58,024) | (217,149) |
| Payments to extinguish exchangeable notes | (26,223) | — |
| Payments for repurchase of exchangeable notes | — | (87,840) |
| Proceeds from sale of exchangeable senior note hedges | — | 1,238 |
| Payments for repurchases of warrants | — | (552) |
| Payments of debt issuance costs | (249) | (906) |
| Payments for repurchases of Class A common stock | (37,604) | — |
| Net payments for settlement obligations | (614) | (3,518) |
| Cash paid for contingent consideration | (800) | (760) |
| Payments for required distributions to members or on behalf of members for tax obligations | (24,849) | (1,117) |
| Payments for required distributions to members under the Tax Receivable Agreement | (9,954) | — |
| Proceeds from stock option exercises | 150 | 25 |
| Payments for employees' tax withholdings from net settled stock option exercises and RSU releases | (4,140) | (679) |
| Net cash used in financing activities | (104,283) | (15,215) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (33,785) | 1,296 |
| Cash, cash equivalents and restricted cash at beginning of period | 89,597 | 12,400 |
| Cash, cash equivalents and restricted cash at end of period | $55,812 | $13,696 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $763 | $21,773 |
| Cash paid for income taxes | $35,112 | $6,984 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (CONTINUED)
The following tables provide reconciliations of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to that shown in the condensed consolidated statements of cash flows:
| September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Beginning balance | ||
| Cash and cash equivalents | $86,541 | $3,112 |
| Settlement assets | 632 | 4,873 |
| Restricted cash | 2,424 | 4,415 |
| Total cash, cash equivalents, and restricted cash | $89,597 | $12,400 |
| June 30, | ||
| 2025 | 2024 | |
| Ending balance | ||
| Cash and cash equivalents | $55,544 | $9,745 |
| Settlement assets | 18 | 1,355 |
| Restricted cash | 250 | 2,596 |
| Total cash, cash equivalents, and restricted cash | $55,812 | $13,696 |
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