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. (NASDAQ: IIIV) is an enterprise software company focused on mission-critical, cloud-native solutions for public sector entities. Its software and services support government functions such as courts and public safety, public administration, utilities, transportation, revenue, and schools, with thousands of installations across all 50 U.S. states and Canada. The company regularly issues updates on its financial performance, strategic focus and major customer contracts, making its news flow relevant to investors and observers of government technology.
On this page, readers can follow IIIV news related to quarterly and annual earnings releases, guidance updates, and non-GAAP metrics such as adjusted EBITDA and Annualized Recurring Revenue (ARR). The company’s announcements often discuss the mix of software and related services, recurring revenue trends, and changes in segment presentation following acquisitions or divestitures, including the sale of its merchant services business and its Healthcare Revenue Cycle Management business.
News items also highlight public sector customer wins and deployments, such as JusticeTech solutions, the WVPASS public access search system in West Virginia, and the i3 CourtOne Case Management Solution (CMS) for state courts. These stories provide insight into how i3 Verticals’ products are used by courts, utilities and other agencies to modernize operations and improve access for citizens.
Investors and researchers can use this IIIV news feed to review earnings dates, conference call details, investor conference participation and other corporate developments. Bookmark this page to quickly access the latest official press releases and updates related to i3 Verticals’ operations, strategy and public sector software initiatives.
i3 Verticals, Inc. (NASDAQ: IIIV) announced the acquisition of a leading enterprise software provider in the motor carrier and vehicle markets for approximately $85 million effective October 1, 2022. The acquisition is expected to be accretive to pro forma adjusted diluted earnings per share. CEO Greg Daily highlighted that this purchase strengthens their position in the Public Sector vertical and allows for expansion into new markets. The company also expanded its revolving credit facility from $275 million to $375 million, anticipating a stable leverage ratio of around 4.0x.
i3 Verticals (NASDAQ: IIIV) has appointed Pete Panagakis as the new Chief Technology Officer. In this position, he will oversee the technology teams responsible for software engineering, architecture, cybersecurity, and operations. Panagakis brings extensive technology leadership experience from roles at Imperial PFS, MarksNelson, and Epiq Systems. Former CTO Rob Bertke will transition to a new role focused on developing a low-code software platform. CEO Greg Daily expressed confidence in Panagakis's leadership and vision to enhance the company’s technological capabilities.
i3 Verticals reported strong financial results for Q3 2022, with revenue of $80.6 million, a 27.6% increase year-over-year. Annualized Recurring Revenue (ARR) rose 30.2% to $266.7 million. However, the net loss widened to $4.7 million from $4.2 million in Q3 2021, leading to a nine-month loss of $18.8 million compared to $5.9 million. Adjusted EBITDA grew 29.1% to $20.1 million, reflecting a margin of 24.9%. The company revised its full-year revenue outlook to between $307 million and $317 million, indicating positive growth expectations.
i3 Verticals (Nasdaq: IIIV) announced it will release its third quarter financial results on August 8, 2022, after market close. A conference call to discuss the results will take place on August 9, 2022, at 8:30 a.m. EDT. Interested participants can join via telephone or webcast. i3 Verticals offers integrated software and services targeting vertical markets, primarily focusing on the Public Sector and Healthcare. The financial results will provide insight into the company's performance for the quarter ended June 30, 2022.
i3 Verticals reported its fiscal Q2 results for 2022, revealing a revenue increase to $78.1 million, a 58.8% growth year-over-year. However, the company suffered a net loss of $10.4 million, contrasting with a net income of $1.3 million in the previous year. Adjusted EBITDA reached $19.5 million, marking a 59.4% increase. The company revised its fiscal year 2022 outlook, raising revenue guidance to $300,000 - $312,000 and Adjusted EBITDA to $75,000 - $81,000. Annualized Recurring Revenue (ARR) grew by 46.8% to $254.5 million.
i3 Verticals (NASDAQ: IIIV) will disclose its Q2 financial results for the quarter ended March 31, 2022, on May 9, 2022, after market close. Following the results, a conference call is scheduled for May 10, 2022, at 8:30 a.m. ET. Participants can join via phone or webcast through the Investors section of the Company’s website. The Company specializes in integrated payment solutions across various sectors, including Healthcare and Education.
i3 Verticals, Inc. (Nasdaq: IIIV) reported strong fiscal Q1 2022 results, achieving a 66% revenue increase to $73.9 million but posted a net loss of $3.7 million, slightly higher than last year's loss. Adjusted EBITDA rose 72.4% to $18.3 million, making up 24.7% of revenue. Pro forma adjusted diluted EPS increased to $0.35 from $0.21. The annualized recurring revenue (ARR) grew 52.7% year-over-year, reaching $240.4 million. The Company revised its 2022 outlook, projecting revenue between $288 million and $304 million, and adjusted EBITDA between $74 million and $80 million.
i3 Verticals (NASDAQ: IIIV) will announce its financial results for the first quarter ended December 31, 2021, on February 8, 2022, post-market close. A conference call is scheduled for February 9, 2022, at 8:30 a.m. ET to discuss the results and operational updates. Participants can join via telephone or webcast via the Company’s website. The Company specializes in providing integrated payment and software solutions across verticals like Public Sector, Healthcare, and Education.
i3 Verticals (NASDAQ: IIIV) has announced an acquisition aimed at strengthening its Public Sector vertical, effective December 31, 2021. The acquired company specializes in court system data management solutions in the southeast and mid-Atlantic regions, providing software for electronic filing and case management. This marks i3 Verticals' second acquisition in this market, expected to enhance product offerings and cross-selling opportunities. Details will be discussed in the upcoming fiscal 2022 Q1 earnings call in February.
i3 Verticals reported strong financial results for Q4 and FY 2021, with Q4 revenue at $67.2 million, marking a 76% increase year-over-year. Full year revenue rose 49% to $224.1 million. The net loss in Q4 was $1.9 million, a slight improvement from $2.0 million in the previous year. Adjusted EBITDA reached $17.1 million in Q4, a 79% increase. The company sets a 2022 revenue outlook between $280 million and $300 million, alongside a gross margin improvement in its software services. Decosta Jenkins will join the Board of Directors.