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.
The Louisiana Clerks Remote Access Authority (LCRAA) has partnered with i3 Verticals (NASDAQ: IIIV) to enhance eFiling and case management services in Louisiana. This new agreement aims to create a unified eFiling portal, improving user experience for parish clerks by allowing electronic case management without paper. LCRAA's Executive Director highlights the role of this partnership in standardizing processes statewide, achieving this milestone without state funding. The integration promises to reduce processing backlogs and elevate service quality for Louisiana's legal community.
i3 Verticals (Nasdaq: IIIV) will release its financial results for Q4 ending
i3 Verticals, Inc. (Nasdaq: IIIV) announced the effective acquisition of a revenue cycle management business on October 1, enhancing its presence in the healthcare sector. The acquired entity specializes in comprehensive services for hospitals and integrates secure proprietary software with medical records. The aggregate cash consideration for this acquisition was $60 million, with equity awards granted to 419 employees. Chairman Greg Daily emphasized the strategic importance of this acquisition as part of their ongoing growth strategy in high-demand verticals.
i3 Verticals (Nasdaq: IIIV) reported a 96% increase in third-quarter revenue, totaling $62.0 million, while nine-month revenue rose 37% to $153.1 million. However, the company recorded a third-quarter net loss of $4.6 million, worsening from a loss of $2.8 million year-over-year. The diluted net loss per share was $0.15, compared to $0.02 in the same period last year. The revised fiscal year 2021 outlook estimates revenue of $212 million - $222 million and adjusted EBITDA of $49 million - $52.5 million.
i3 Verticals (Nasdaq: IIIV) announced its third-quarter financial results for the period ending June 30, 2021, set to be released on August 9, 2021, after Nasdaq market close. A conference call will follow on August 10, 2021, at 8:30 a.m. ET to discuss these results. Participants can join the call by dialing (877) 270-2148 or via webcast through the company’s website. i3 Verticals specializes in integrated payment and software solutions, processing approximately $15 billion in payment volume for the year ending March 31, 2021.
i3 Verticals (Nasdaq: IIIV) reported strong fiscal Q2 results for the period ending March 31, 2021, highlighting 22% revenue growth to $47.9 million year-over-year. Adjusted net revenue decreased by 26% to $49.4 million. The company recorded a net loss of $0.1 million, contrasting with a net income of $1.9 million in Q2 2020. Adjusted EBITDA grew by 25% to $12.4 million. The company completed three acquisitions, bolstering its presence in healthcare and utilities sectors. i3 Verticals revised its FY 2021 outlook, projecting adjusted net revenue between $204,000 - $220,000.
i3 Verticals (Nasdaq: IIIV) plans to release its second-quarter financial results for the fiscal year ending March 31, 2021, on May 10, 2021, after market close. A conference call is scheduled for May 11, 2021, at 8:30 a.m. ET to discuss these results. Participants can call in or listen via the Company's website. i3 Verticals processed approximately $14.3 billion in total payment volume for the year ending December 31, 2020, catering to small- and medium-sized businesses across sectors like education and healthcare.
i3 Verticals announced its acquisition of two software companies on April 1, enhancing its offerings in the Healthcare vertical. One business, from the upper Midwest, provides software to healthcare customers, improving operational efficiency and patient information access. The second, based in the southeast, offers medical practice management software nationwide. The total cash paid for both acquisitions was $17.4 million. Chairman and CEO Greg Daily highlighted untapped payment opportunities, aligning with the company's acquisition strategy to expand its product suite and market presence.
i3 Verticals (Nasdaq: IIIV) reported Q1 fiscal 2021 results, with revenues of $43.3 million, up 5% year-over-year. Adjusted net revenue was $44.9 million, an 8% increase. However, the company faced a $4.1 million net loss, contrasting with a net income of $1.9 million in Q1 fiscal 2020. Adjusted EBITDA decreased 8% to $10.9 million, representing 24.2% of adjusted net revenue, down from 28.5%. The company anticipates adjusted net revenue for the fiscal year to range between $198 million and $214 million.
i3 Verticals has acquired substantially all assets of Business Information Systems (BIS) for approximately $87.7 million, comprising $52.5 million in cash and $35.2 million in Class A common stock. This acquisition, the largest in i3's history, aims to enhance its Public Sector vertical with innovative payment solutions that facilitate cost savings for state and local governments. BIS brings a creative leadership team and about 150 new employees. Equity awards totaling 575,000 shares have also been granted to BIS employees.