i3 Verticals, Inc.

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash and cash equivalents $572k $1.1m $15.6m $3.6m $3.5m $3.1m $86.5m $66.7m
Accounts receivable, net $12.5m $15.3m $17.5m $38.5m $53.3m $65.1m $56.0m $58.5m
Prepaid expenses and other current assets $2.6m $4.1m $4.9m $11.2m $19.4m $12.4m $10.2m $12.1m
Long-term tax receivable agreement obligations $791k $23.2m $27.6m $39.1m $40.8m $40.1m $29.3m $32.2m
Total current assets $16.6m $20.6m $38.0m $58.1m $83.8m $85.5m $153.4m $137.6m
Property and equipment, net $3.0m $5.0m $5.3m $5.9m $5.7m $12.3m $8.7m $7.2m
Capitalized software, net $3.4m $15.5m $17.0m $41.4m $52.3m $62.6m $58.6m $48.3m
Goodwill $84.0m $168.3m $187.0m $292.2m $353.6m $409.6m $280.7m $248.5m
Intangible assets, net $66.0m $107.4m $109.2m $171.7m $195.9m $227.0m $162.8m $135.8m
Operating lease right-of-use assets $0 $14.5m $17.7m $13.9m $9.0m $4.6m
Other assets $453k $2.3m $5.2m $8.5m $5.1m $13.7m $6.7m $7.1m
Settlement assets $863k $0 $0 $4.8m $7.5m $4.9m $632k $411k
Current assets held for sale $17.3m $0 $0
Restricted cash $665k $2.1m $5.0m $9.5m $12.7m $4.4m $2.4m $250k
Deferred tax asset $1.2m $28.1m $36.8m $50.0m $43.5m $52.5m $48.4m $49.1m
Long-term assets held for sale $219.4m $0 $0
Accrued expenses and other current liabilities $11.5m $21.6m $24.1m $50.8m $57.8m $37.7m $90.0m $24.5m
Settlement obligations $863k $0 $0 $4.8m $7.5m $4.9m $632k $411k
Deferred revenue $4.9m $10.2m $11.0m $29.9m $32.0m $35.3m $39.0m $37.7m
Current portion of operating lease liabilities $3.2m $4.6m $4.5m $3.5m $1.8m
Current liabilities held for sale $12.2m $0 $0
Operating lease liabilities, less current portion $12.0m $14.0m $10.4m $6.3m $3.0m
Long-term liabilities held for sale $2.5m $0 $0
Accumulated earnings $736k ($2.3m) ($2.0m) ($6.5m) ($23.6m) ($12.9m) $100.4m $118.3m
Non-controlling interest $72.9m $62.4m $84.6m $84.8m $89.3m $91.5m $135.6m $128.1m
Total equity $112.2m $142.4m $240.2m $289.6m $307.7m $328.3m $515.4m $517.7m
Total assets $175.1m $349.3m $403.5m $651.8m $770.3m $881.5m $730.7m $638.4m
Accounts payable $4.1m $3.4m $3.8m $7.9m $9.3m $11.1m $5.4m $6.2m
Current portion of long-term debt $5.0m $0 $90.8m $200.6m $287.0m $0 $26.2m $0
Total current liabilities $26.4m $35.2m $38.9m $96.5m $111.3m $93.5m $164.7m $70.7m
Other long-term liabilities $3.9m $9.1m $6.1m $14.0m $9.5m $24.1m $14.9m $14.8m
Total liabilities $62.9m $206.9m $163.4m $362.2m $462.6m $553.2m $215.3m $120.7m
Preferred stock, par value $0.0001 per share, 10,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2025 and 2024 0 0 0 0 0 0 0 0
Common stock $3k $2k $3k $3k $3k $3k $3k $3k
Additional paid-in-capital $38.6m $82.4m $157.6m $211.2m $242.0m $249.7m $279.3m $271.3m
Total stockholders' equity $39.3m $80.1m $155.6m $204.8m $218.4m $236.7m $379.7m $389.6m
Total liabilities and equity $175.1m $349.3m $403.5m $651.8m $770.3m $881.5m $730.7m $638.4m