i3 Verticals, Inc.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
View on SEC.govAbout this filing
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, 2026 · Filed Aug 7, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
| Nine months ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income | $8,802 | $22,302 |
| Adjustments to reconcile net income from operating activities: | ||
| Depreciation and amortization | 21,917 | 22,788 |
| Equity-based compensation | 14,933 | 15,142 |
| Amortization of debt issuance costs | 647 | 746 |
| Provision for deferred income taxes | 1,708 | 3,644 |
| Gain on sale of businesses | — | (25,299) |
| Gain on investment | (9,868) | — |
| Non-cash lease expense | 1,576 | 1,933 |
| Changes in non-cash contingent consideration expense from original estimate | 940 | 1,743 |
| Other non-cash adjustments to net income | 2,858 | 36 |
| Changes in operating assets and liabilities | (5,099) | (51,311) |
| Net cash provided by (used in) operating activities | 38,414 | (8,276) |
| Cash flows from investing activities: | ||
| Expenditures for property and equipment | (2,032) | (1,516) |
| Proceeds from sale of property and equipment | 448 | 1,501 |
| Expenditures for capitalized software | (6,536) | (6,301) |
| Purchases of merchant portfolios and residual buyouts | — | (12) |
| Acquisitions of businesses, net of cash acquired | (60,000) | (11,000) |
| Proceeds from sale of Healthcare RCM Business, net of cash sold | — | 96,102 |
| Net cash (used in) provided by investing activities | (68,120) | 78,774 |
| Cash flows from financing activities: | ||
| Proceeds from revolving credit facility | 227,833 | 58,024 |
| Payments on revolving credit facility | (113,557) | (58,024) |
| Payments to extinguish exchangeable notes | — | (26,223) |
| Payments of debt issuance costs | — | (249) |
| Payments for repurchases of Class A common stock, including related excise taxes | (136,895) | (37,604) |
| Net payments for settlement obligations | (375) | (614) |
| Cash paid for contingent consideration | — | (800) |
| Payments for required distributions to members or on behalf of members for tax obligations | (2,219) | (24,849) |
| Payments for required distributions to members under the Tax Receivable Agreement | (2,524) | (9,954) |
| Proceeds from stock option exercises | 129 | 150 |
| Payments for employees' tax withholdings from net settled stock option exercises and RSU releases | (4,576) | (4,140) |
| Net cash used in financing activities | (32,184) | (104,283) |
| Net decrease in cash, cash equivalents and restricted cash | (61,890) | (33,785) |
| Cash, cash equivalents and restricted cash at beginning of period | 67,333 | 89,597 |
| Cash, cash equivalents and restricted cash at end of period | $5,443 | $55,812 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $2,486 | $763 |
| Cash paid for income taxes, net of refunds | $3,209 | $35,112 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (CONTINUED)
(In thousands)
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, | ||
|---|---|---|
| 2025 | 2024 | |
| Beginning balance | ||
| Cash and cash equivalents | $66,672 | $86,541 |
| Settlement assets | 411 | 632 |
| Restricted cash | 250 | 2,424 |
| Total cash, cash equivalents, and restricted cash | $67,333 | $89,597 |
| June 30, | ||
| 2026 | 2025 | |
| Ending balance | ||
| Cash and cash equivalents | $2,647 | $55,544 |
| Settlement assets | 36 | 18 |
| Restricted cash | 2,760 | 250 |
| Total cash, cash equivalents, and restricted cash | $5,443 | $55,812 |
The Company engaged in the following significant non-cash investing and financing activities during the nine months ended June 30, 2026 and 2025 which are reported on a consolidated basis. See Note 2 for significant non-cash investing and financing activities from discontinued operations for major captions on the condensed consolidated financial statements.
| Nine months ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Acquisition date fair value of contingent consideration in connection with business combinations | $7,600 | $1,260 |
| Right-of-use assets obtained in exchange for operating lease obligations | $1,494 | $288 |
| Excise taxes accrued on share repurchases | $1,364 | $375 |
| Conversion of note receivable to equity investment | $293 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.