← i3 Verticals, Inc.

Annual Trend FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income (loss) $902k ($5.0m) $563k ($979k) ($7.8m) ($23.2m) ($2.7m) $175.1m $26.5m
Other non-cash adjustments to net income (loss) — — — $717k $555k $1.1m $1.5m $1.3m $437k
Net Income From Continuing Operations — — — — — ($23.2m) ($2.7m) $175.1m $26.5m
Depreciation and amortization $10.1m $11.8m $16.6m $18.2m $24.4m $29.4m $36.5m $37.4m $29.8m
Amortization of debt discount and issuance costs — $1.1m $721k $3.7m $5.5m $5.8m $1.5m $1.2m $961k
Depreciation Amortization Depletion — — — — — $29.4m $36.5m $37.4m $29.8m
Provision for (Benefit from) deferred income taxes $56k ($682k) ($586k) ($3.2m) ($287k) $2.6m ($5.9m) $434k $5.0m
Deferred Income Tax — — — — — $2.6m ($5.9m) $434k $5.0m
Deferred Tax — — — — — $2.6m ($5.9m) $434k $5.0m
Asset Impairment Charge — — — — — $0 $2.7m $0 $0
Operating lease liabilities — — — $0 ($3.1m) ($4.8m) ($4.5m) ($4.6m) ($3.2m)
Equity-based compensation $0 $1.6m $6.1m $10.5m $20.9m $26.2m $27.9m $26.3m $18.3m
Gain on repurchase of exchangeable notes — $0 $0 $2.3m $0 $0 $0 ($2.4m) $0
Loss on sale of exchangeable senior note hedges — — — — — $0 $0 $245k $0
Gain on repurchases of warrants — — — — — $0 $0 ($105k) $0
Gain on sale of businesses — — — — — $0 $0 ($205.6m) ($26.0m)
Write down of intangible asset — — — — $0 $0 $2.7m $0 $0
Non-cash lease expense — — — $0 $3.2m $4.9m $4.7m $4.5m $2.5m
Accounts receivable ($2.4m) ($2.3m) $2.4m ($1.0m) ($10.9m) ($15.8m) ($7.7m) $9.6m ($7.4m)
Prepaid expenses and other current assets $305k $1.0m ($817k) ($984k) ($1.6m) ($3.6m) $1.5m ($603k) ($2.2m)
Other assets $9k ($3.2m) ($2.8m) ($1.5m) ($4.1m) ($1.2m) ($1.9m) ($1.7m) ($2.0m)
Accounts payable ($384k) $1.2m ($1.8m) $239k $3.9m $1.5m $1.7m ($3.2m) $1.0m
Accrued expenses and other current liabilities $1.5m $2.0m $1.6m $1.6m $10.5m $13.0m $318k $28.0m ($32.1m)
Acquisition escrow obligations — — — — $4.7m $3.2m ($8.3m) ($1.8m) ($2.2m)
Deferred revenue $388k ($123k) $2.6m $617k $5.2m $2.0m ($1.3m) $2.0m ($1.8m)
Other long-term liabilities $40k $362k ($44k) $93k ($782k) ($25k) $0 ($10.5m) ($2.9m)
Contingent consideration paid in excess of original estimates ($2.2m) ($2.1m) ($1.6m) ($5.0m) ($3.6m) ($18.1m) ($19.3m) ($6.6m) ($760k)
Expenditures for property and equipment ($636k) ($2.2m) ($807k) ($2.9m) ($1.9m) ($2.3m) ($4.2m) ($3.0m) ($1.9m)
Proceeds from sale of property and equipment $636k $2.2m $807k $2.9m $1.9m $0 $0 $618k $1.5m
Expenditures for capitalized software ($1.5m) ($1.1m) ($2.2m) ($2.9m) ($6.2m) ($10.2m) ($12.2m) ($12.0m) ($8.2m)
Purchases of merchant portfolios and residual buyouts ($1.6m) ($1.2m) ($3.6m) ($1.8m) ($1.8m) ($52k) ($2.2m) ($5.4m) ($12k)
Proceeds from sale of Merchant Services Business, net of cash sold — — — — — $0 $0 $435.1m $96.1m
Proceeds from investments — — — — $3.2m $600k $295k $0 $0
Proceeds from revolving credit facility $56.5m $27.2m $188.5m $172.1m $302.8m $335.7m $365.0m $387.0m $58.4m
Payments on revolving credit facility ($23.9m) ($95.6m) ($51.9m) ($313.3m) ($198.4m) ($255.1m) ($281.5m) ($659.5m) ($58.4m)
Payments to extinguish exchangeable notes — — — — — — $0 $0 ($26.2m)
Payments for repurchase of exchangeable notes — $0 $0 ($17.4m) $0 $0 $0 ($87.8m) $0
Proceeds from sale of exchangeable senior note hedges — $0 $0 $138.0m $0 $0 $0 $1.2m $0
Payments for repurchases of warrants — — — — — $0 $0 ($552k) $0
Net payments for settlement obligations — — — — — $2.1m ($2.7m) ($4.2m) ($221k)
Cash paid for contingent consideration ($966k) ($977k) ($2.6m) ($3.5m) ($2.9m) ($25.3m) ($6.8m) ($760k) ($817k)
Payments for required distributions to members or on behalf of members for tax obligations — — — — — $0 $0 ($1.1m) ($25.3m)
Payments for required distributions to members under the Tax Receivable Agreement — — — — — — $0 $0 ($10.0m)
Proceeds from stock option exercises $0 $0 $672k $764k $1.6m $694k $180k $25k $300k
Payments for employee's tax withholdings from net settled stock option exercises and RSU releases — $0 $0 ($310k) ($731k) ($643k) ($490k) ($708k) ($4.3m)
Beginning Cash Position — — — — — $17.9m $23.8m $12.4m $89.6m
Cash Flow From Continuing Financing Activities — — — — — $75.1m $73.0m ($367.4m) ($104.4m)
Cash Flow From Continuing Investing Activities — — — — — ($113.0m) ($121.5m) $396.1m $76.5m
Change In Account Payable — — — — — $1.5m $1.7m ($3.2m) $1.0m
Change In Accrued Expense — — — — — $9.8m $318k $28.0m ($32.1m)
Change In Other Current Assets — — — — — ($1.2m) ($1.9m) ($1.7m) ($2.0m)
Change In Other Current Liabilities — — — — — ($4.8m) ($4.5m) ($15.1m) ($6.1m)
Change In Other Working Capital — — — — — $5.3m ($9.6m) $235k ($3.9m)
Change In Payable — — — — — $1.5m $1.7m ($3.2m) $1.0m
Change In Payables And Accrued Expense — — — — — $11.3m $2.0m $24.7m ($31.1m)
Change In Prepaid Assets — — — — — ($3.6m) $1.5m ($603k) ($2.2m)
Change In Receivables — — — — — ($15.8m) ($7.7m) $9.6m ($7.4m)
Change In Working Capital — — — — — ($8.8m) ($20.2m) $17.2m ($52.7m)
Changes In Account Receivables — — — — — ($15.8m) ($7.7m) $9.6m ($7.4m)
Changes In Cash — — — — — $5.8m ($11.4m) $77.2m ($22.3m)
End Cash Position — — — — — $23.8m $12.4m $89.6m $67.3m
Financing Cash Flow — — — — — $75.1m $73.0m ($367.4m) ($104.4m)
Free Cash Flow — — — — — $31.3m $20.8m $33.4m ($4.4m)
Gain Loss On Investment Securities — — — — ($2.1m) — ($295k) $140k —
Gain Loss On Sale Of Business — — — — — $0 $0 ($205.6m) ($26.0m)
Investing Cash Flow — — — — — ($113.0m) ($121.5m) $396.1m $76.5m
Issuance Of Capital Stock — — — — $0 $17.7m $0 $0 —
Net Business Purchase And Sale — — — — — ($100.7m) ($102.0m) $416.0m ($11.0m)
Net Intangibles Purchase And Sale — — — — ($104k) ($13k) — — —
Net PPE Purchase And Sale — — — — — $0 $0 $618k $1.5m
Operating Gains Losses — — — — ($2.1m) — ($295k) ($205.4m) ($26.0m)
Other Non Cash Items — — — — — $17.5m ($779k) ($2.7m) $4.7m
Proceeds From Stock Option Exercised — — — — — $694k $180k ($527k) $300k
Purchase Of Business — — — — — ($100.7m) ($102.0m) ($19.1m) ($11.0m)
Purchase Of Intangibles — — — — ($104k) ($13k) — — —
Repurchase Of Capital Stock — — — — — $0 $0 $0 ($37.6m)
Sale Of Business — — — — — $0 $0 $435.1m $0
Sale Of PPE — — — — — $0 $0 $618k $1.5m
Stock Based Compensation — — — — — $26.2m $27.9m $26.3m $18.3m
Net cash provided by operating activities $8.3m $18.1m $26.6m $23.7m $46.8m $45.8m $34.5m $48.4m $5.7m
Capital Expenditure — — — — — ($12.4m) ($16.4m) ($15.0m) ($10.1m)
Capital Expenditure Reported — $2.2m $807k $2.9m $1.9m ($12.4m) ($16.4m) ($15.0m) ($10.1m)
Acquisitions of businesses, net of cash acquired ($44.2m) ($32.4m) ($137.0m) ($27.7m) ($149.5m) ($100.7m) ($102.0m) ($19.1m) ($11.0m)
Net Investment Purchase And Sale — — — — — $548k ($1.9m) ($5.4m) ($12k)
Purchase Of Investment — — — — — ($52k) ($2.2m) ($5.4m) ($12k)
Net gain on sale of investments — — $0 $0 ($2.1m) $0 ($295k) $0 $0
Sale Of Investment — — — — — $600k $295k $0 $0
Payments for other investing activities — — — — ($104k) ($443k) ($1.3m) ($94k) $0
Net Other Investing Changes — — — — — ($443k) ($1.3m) ($94k) $96.1m
Net cash provided by (used in) investing activities ($47.9m) ($38.1m) ($143.7m) ($35.4m) ($156.3m) ($113.0m) ($121.5m) $396.1m $76.5m
Payments of debt issuance costs ($254k) ($266k) ($168k) ($5.3m) $0 $0 ($694k) ($930k) ($256k)
Issuance Of Debt — — — — — $335.7m $365.0m $387.0m $58.4m
Long Term Debt Issuance — — — — — $0 $365.0m $387.0m $58.4m
Net Issuance Payments Of Debt — — — — — $80.6m $83.5m ($360.3m) ($26.2m)
Net Long Term Debt Issuance — — — — — $0 $83.5m ($360.3m) ($26.2m)
Net Short Term Debt Issuance — — — — $104.4m $80.6m $83.5m — —
Short Term Debt Issuance — — — — $302.8m $335.7m $365.0m — —
Long Term Debt Payments — — — — — $0 ($281.5m) ($747.3m) ($84.6m)
Repayment Of Debt — — — — — ($255.1m) ($281.5m) ($747.3m) ($84.6m)
Short Term Debt Payments — — — — ($198.4m) ($255.1m) ($281.5m) — —
Common Stock Issuance — — — — $0 $17.7m $0 $0 —
Net Common Stock Issuance — — — — — $17.7m $0 $0 ($37.6m)
Payments for repurchases of Class A common stock — — — — — — $0 $0 ($37.6m)
Common Stock Payments — — — — — $0 $0 $0 ($37.6m)
Net Other Financing Charges — — — — — ($23.9m) ($10.7m) ($6.5m) ($40.9m)
Net cash (used in) provided by financing activities $37.4m $19.2m $119.1m $29.1m $102.1m $73.0m $75.7m ($367.4m) ($104.4m)
Increase (Decrease) in non-cash contingent consideration expense from original estimate ($218k) $3.9m $3.4m ($1.4m) $7.1m $23.7m $10.8m ($690k) $1.5m
Net (decrease) increase in cash, cash equivalents, and restricted cash — ($731k) $2.0m $17.4m ($7.4m) $5.8m ($11.4m) $77.2m ($22.3m)
Cash, cash equivalents, and restricted cash at beginning of period $2.0m $1.2m $3.2m $20.6m $13.2m $23.8m $12.4m $89.6m $67.3m
Change In Cash Supplemental As Reported — — — — — $5.8m ($11.4m) $77.2m ($22.3m)
Cash paid for interest $6.3m $7.9m $4.9m $5.2m $4.4m $9.0m $21.5m $29.5m $931k
Cash paid for income taxes, net of refunds $837k $483k $1.4m $792k $287k $1.1m $3.2m $7.3m $34.9m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.