i3 Verticals(US:IIIV)2026-02-05 21:18Revenue Performance - Total revenue for the first quarter of fiscal 2026 was $52.7 million, reflecting a year-over-year increase of 0.9%[5] - Recurring revenue increased by more than 8% year-over-year, with Annualized Recurring Revenue (ARR) reaching $169.6 million compared to $156.4 million in the prior year[5] - SaaS revenue growth for the first quarter was reported at 24%[3] - Revenue for the three months ended December 31, 2025, was $52,671 million, a 1% increase from $52,221 million in 2024[18] - The revised revenue outlook for the fiscal year ending September 30, 2026, is between $223 million and $234 million[7] Profitability Metrics - Net income from continuing operations was $1.1 million, down from $2.8 million in the prior year's first quarter[5] - Adjusted EBITDA from continuing operations was $13.6 million, representing 25.8% of revenue, compared to 27.9% in the prior year[5] - Net income for the period was $947 million, representing a 70% decrease from $3,108 million in the same period last year[18] - Net income from continuing operations attributable to i3 Verticals, Inc. was $576 million, down from $1,855 million, a decline of 69%[32] - Adjusted net income from continuing operations was $8,586 million, compared to $9,211 million in the prior year[32] - Adjusted diluted earnings per share for the fiscal year is expected to be between $1.08 and $1.16[7] - Diluted net income per share attributable to Class A common stockholders from continuing operations decreased to $0.02 in Q4 2025 from $0.08 in Q4 2024[34] - Adjusted diluted earnings per share from continuing operations remained relatively stable at $0.26 in Q4 2025 compared to $0.27 in Q4 2024[34] - Adjusted net income from continuing operations was $8,586 million in Q4 2025, down from $9,211 million in Q4 2024[34] Operating Expenses and Cash Flow - Total operating expenses increased by 2% to $51,062 million from $50,168 million year-over-year[18] - Net cash provided by operating activities increased to $14,123 million from $11,495 million year-over-year[22] - Cash and cash equivalents decreased to $37,523 million from $66,672 million[20] - Total assets decreased to $595,931 million from $638,411 million[20] - Total liabilities decreased to $112,590 million from $120,688 million[20] Shareholder Information - Weighted average shares of Class A common stock outstanding for continuing operations were 23,675,075, compared to 23,551,352 in the previous year[18] - The adjusted weighted average shares of adjusted diluted Class A common stock outstanding were 33,473,435 in Q4 2025, compared to 34,057,196 in Q4 2024[34] - Adjusted diluted earnings per share assumes a one-for-one exchange of all Common Units in i3 Verticals, LLC for Class A common stock[36] - Adjusted net income from continuing operations is calculated based on net income available to Class A common stockholders[37] - The adjusted weighted average shares include shares from Class B common stock that can be converted into Class A common stock[38] Strategic Initiatives - The company completed the acquisition of a motor vehicle insurance verification software company for $60 million in cash, with potential contingent consideration of up to $20 million[5] - The company emphasizes a focus on long-term reliable revenue growth through recurring revenue sources[5] Guidance - Adjusted EBITDA guidance for the fiscal year is projected to be between $61 million and $66.5 million[7]