I3 Verticals ( (IIIV) ) has released its Q4 earnings. Here is a breakdown of the information I3 Verticals presented to its investors.
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i3 Verticals, Inc. is a company that provides integrated software solutions tailored for strategic vertical markets, focusing primarily on the Public Sector and Healthcare industries. The Nashville-based company reported its financial results for the fourth quarter and full fiscal year ending September 30, 2024.
In its latest earnings report, i3 Verticals highlighted a 3.9% increase in fourth-quarter revenue compared to the previous year, reaching $60.9 million, and a 1.4% rise in full-year revenue to $229.9 million. The company also reported a significant improvement in net income from continuing operations, with a fourth-quarter net income of $7.0 million, a reversal from a net loss of $1.2 million in the same period last year.
The company achieved an adjusted EBITDA of $16.2 million for the fourth quarter, marking a 3.5% increase over the prior year, though the full-year adjusted EBITDA saw a slight decrease of 1.8%. Annualized Recurring Revenue (ARR) grew by 7.5% year-over-year, reflecting the company’s strategic focus on boosting recurring revenue streams.
Looking ahead, i3 Verticals remains optimistic about its growth prospects for 2025, with expectations of high-single-digit organic revenue growth and further margin expansion. The company’s management is confident in its streamlined operations and is poised to seize upcoming growth opportunities, reinforced by the recent addition of a new Chief Product Officer.
