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.
i3 Verticals reported its fiscal fourth quarter and year results for 2022, highlighting a 26.9% revenue increase to $85.3 million and a 41.8% annual revenue growth to $317.9 million. However, the net loss for Q4 reached $4.4 million, worsening from last year's $1.9 million. The full year loss totaled $23.2 million, compared to $7.8 million in 2021. Adjusted EBITDA for Q4 was $21.7 million, up 27.4%, with a pro forma adjusted diluted EPS of $1.48. The company forecasts 2023 revenue between $360 million and $380 million with adjusted EBITDA of $94 million to $102 million.
i3 Verticals, Inc. (Nasdaq: IIIV) announced plans for one-on-one investor meetings at upcoming conferences. The key events include the Stephens Annual Investment Conference in location value="LU/us.tn.nashvl"Nashville on November 17, 2022, the Raymond James Technology Investors Conference in location value="LU/us.ny.nyc"New York City on December 7, 2022, and the D.A. Davidson FinTech & Payments Spotlight Conference in location value="LU/us.ny.nyc"New York City on December 8, 2022.
The Company specializes in integrated software and services for vertical markets, focusing on the Public Sector and Healthcare.
i3 Verticals (NASDAQ: IIIV) will announce its financial results for the fourth quarter ending September 30, 2022 on November 16, 2022, after market close. A conference call to discuss these results will take place on November 17, 2022, at 8:30 a.m. ET. Participants can join by dialing (844) 887-9399 or accessing the webcast on their website. i3 Verticals provides integrated software and services primarily targeting the Public Sector and Healthcare markets, focusing on delivering tailored solutions for specific customer needs.
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.