Welcome to our dedicated page for I3 Verticals news (Ticker: IIIV), a resource for investors and traders seeking the latest updates and insights on I3 Verticals stock.
i3 Verticals, Inc. reports developments tied to its public-sector enterprise software business, including financial results from continuing operations, annualized recurring revenue, SaaS revenue trends and adjusted EBITDA measures. The company provides cloud-native software and related services for government functions such as courts and public safety, public administration, utilities, transportation and schools.
Recurring company updates also cover earnings calls, investor conference participation, public-sector contract activity and product deployments such as i3 CourtOne, WVPASS and Resolv 360. News may also include completed acquisitions that expand the company’s transportation software capabilities, including motor vehicle insurance verification software.
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i3 Verticals (Nasdaq: IIIV) will release its financial results for the second quarter ending March 31, 2023, on May 9, 2023, after market close. A conference call to discuss these results is scheduled for May 10, 2023, at 8:30 a.m. ET. Participants can join via telephone or webcast through the Company’s website. i3 Verticals provides integrated software and services, particularly targeting the Public Sector and Healthcare verticals. The Company is focused on enhancing its software offerings to meet customer needs across these sectors.
i3 Verticals reported a strong fiscal first quarter for the period ending December 31, 2022, with revenue of $86.0 million, a 16.4% increase year-over-year. The company achieved net income of $0.2 million, a significant turnaround from a net loss of $3.7 million in the same quarter last year. Adjusted EBITDA rose 29.3% to $23.6 million, representing 27.4% of revenue. Annualized Recurring Revenue (ARR) increased by 20.7% to $290.2 million. The company's interest coverage and leverage ratios remained strong. A strategic acquisition of AccuFund, effective January 1, 2023, is expected to enhance its public sector offerings.
i3 Verticals, Inc. (Nasdaq: IIIV) will release its financial results for the first quarter ended December 31, 2022, on February 8, 2023, after market close. A conference call will be held the next day, February 9, 2023, at 8:30 a.m. ET to discuss these results and company operations. Participants can join via telephone or webcast through the company’s website. i3 Verticals specializes in integrated software and services for strategic vertical markets, particularly in the Public Sector and Healthcare sectors.
i3 Verticals, Inc. (Nasdaq: IIIV) has acquired Accufund, Inc., effective January 1, 2023. Accufund specializes in fund accounting solutions for government entities and nonprofits in the United States. This acquisition aims to enhance i3 Verticals' public sector offerings, complementing its existing portfolio. CEO Greg Daily highlighted the strategic importance of Accufund's software in strengthening their market position. The first quarter earnings call in February will provide further insights into this acquisition and its expected impact on growth.