i3 Verticals(IIIV) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue from continuing operations for Q1 2025 was $61.7 million, a 12.1% increase compared to $55.1 million in Q1 2024[4] - Net income from continuing operations was $3.3 million, a significant improvement from a net loss of $4.2 million in the prior year's first quarter[4] - Adjusted EBITDA from continuing operations was $16.4 million, reflecting a 17.0% increase year-over-year[4] - Annualized Recurring Revenue (ARR) for Q1 2025 was $193.3 million, up 7.6% from $179.6 million in Q1 2024[4] - Total revenue for the three months ended December 31, 2024, was $61,691,000, an increase of 12% compared to $55,054,000 for the same period in 2023[22] - Adjusted EBITDA for the same period was $16,372,000, representing a 17% increase from $13,988,000 year-over-year[22] - The adjusted EBITDA margin for the total segment was 27%, compared to 25% in the prior year[22] - Net income from continuing operations attributable to i3 Verticals, Inc. was $2,194,000, a significant improvement from a loss of $2,885,000 in the same quarter of 2023[38] - Pro forma adjusted net income from continuing operations was $10,460,000, up from $4,138,000 in the prior year, reflecting a 153% increase[42] Earnings Projections - The company expects fiscal year 2025 revenue to be between $243 million and $263 million[7] - Pro forma adjusted diluted earnings per share for fiscal year 2025 is projected to be between $1.05 and $1.25[7] - The company reported a diluted net income per share of $0.09 from continuing operations, compared to a diluted net loss per share of $0.12 in the prior year[4] - Pro forma adjusted diluted earnings per share from continuing operations increased to $0.31 from $0.12 year-over-year[42] Revenue Growth - Payments revenue grew by 7% in Q1 2025, with expectations for continued growth alongside SaaS[6] - SaaS revenue growth was reported at 16% year-over-year, indicating strong momentum moving forward[5] Financial Ratios and Cash Flow - The consolidated interest coverage ratio as of December 31, 2024, was 3.7x, and the total leverage ratio was 0.1x[4] - Cash and cash equivalents as of December 31, 2024, were $85,552,000, slightly down from $86,541,000 at the end of September 2024[24] - Total assets decreased to $726,229,000 from $730,675,000 in the previous quarter[24] - Total liabilities remained relatively stable at $215,095,000 compared to $215,316,000 in the prior quarter[24] - The company reported net cash provided by operating activities of $11,495,000, down from $14,405,000 in the same quarter last year[27]