i3 Verticals (IIIV) Financial Statements & Analysis

i3 Verticals (IIIV) Income Statement

i3 Verticals reported revenue of $213.16M in fiscal 2025 (fiscal year ended Sep 30, 2025), down 7.3% from $229.92M a year earlier. Net income was $17.87M, down 84.2% year over year, a net margin of 8.4%. Gross margin was 68.8% and operating margin 1.9%. In the most recent quarter, Q3 fiscal 2026 (ended Jun 30, 2026), revenue was $53.07M, up 2.2% from the same quarter a year earlier.

i3 Verticals Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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i3 Verticals, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017
Revenue & Gross Profit
Revenue	213.16	229.92	189.68	187.75	224.12	150.13	376.31	323.51	262.57
Cost of Revenue	66.59	18.57	54.81	12.83	57.71	47.23	287.10	254.86	217.91
Gross Profit	146.57	211.35	189.68	174.92	166.42	102.90	89.20	68.65	44.66
Operating Expenses
Research & Development	0.00	13.55	11.16	7.85	6.28	3.98	2.98	1.70	1.54
Selling, General & Administrative	114.66	173.23	105.78	154.57	132.99	78.32	62.86	40.59	27.19
Operating Expenses	142.56	204.50	194.09	198.06	166.43	95.13	82.81	56.29	37.06
Operating Income	4.01	6.85	-4.41	-23.14	-0.01	7.77	6.39	12.36	7.60
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	2.30	29.26	-25.13	14.78	9.80	8.93	6.00	8.50	6.94
Other Income/Expense	9.17	-25.87	-26.35	-15.77	-7.20	-11.55	-6.00	-16.99	-6.52
Income
Income Before Tax	10.88	-19.01	-28.32	-38.91	-7.22	-3.77	0.39	-4.62	1.08
Income Tax Expense	5.27	-5.67	-3.51	0.15	0.62	-2.80	-0.18	0.34	0.18
Net Income	17.87	113.34	-0.81	-17.10	-4.46	-0.42	-3.05	-6.90	0.90
Net Income - Continuous Operations	5.62	113.34	-0.81	-17.10	-4.46	-0.42	-3.05	-6.90	0.90
Net Income - Discontinued Operations	20.89	191.18	22.16	15.84	-	-	-	-	-
EBITDA	43.02	33.23	19.13	22.59	27.00	23.37	22.95	15.71	18.10
EBIT	13.18	4.67	5.77	-24.13	9.02	-	-	-	-
Depreciation & Amortization	27.90	23.90	13.36	21.57	24.42	18.22	16.56	11.84	10.09
Earnings Per Share
Basic EPS	1.00	5.00	-	-1.00	-	-	-	-1.00	-
Diluted EPS	1.00	5.00	-1.00	-1.00	-	-	-	-1.00	-
Basic Shares Outstanding	23.91	23.42	23.14	22.25	20.99	14.83	10.49	8.81	7.80
Diluted Shares Outstanding	25.07	24.43	23.14	22.25	31.71	14.85	10.49	9.36	7.80

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About i3 Verticals Financial Statements

What was i3 Verticals's revenue in fiscal 2025?

i3 Verticals reported revenue of $213.16M in fiscal 2025 (fiscal year ended Sep 30, 2025). That was down 7.3% from $229.92M a year earlier.

Is i3 Verticals profitable?

Yes. i3 Verticals earned net income of $17.87M in fiscal 2025, a net margin of 8.4%. In fiscal 2024 it earned $113.34M.

What is i3 Verticals's operating margin?

i3 Verticals's operating income was $4.01M on revenue of $213.16M in fiscal 2025, an operating margin of 1.9%, compared with 3.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition