XML 19 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]      
Revenue $ 150,134 $ 376,307 $ 323,508
Operating expenses      
Interchange and network fees 0 242,867 [1] 214,543 [1]
Other costs of services 47,230 44,237 40,314
Selling general and administrative 78,323 62,860 40,585
Depreciation and amortization 18,217 16,564 11,839
Change in fair value of contingent consideration (1,409) 3,389 3,866
Total operating expenses 142,361 369,917 311,147
Income from operations 7,773 6,390 12,361
Other expenses      
Interest expense, net 8,926 6,004 8,498
Change in fair value of warrant liability 0 0 8,487
Other expense 2,621 0 0
Total other expenses 11,547 6,004 16,985
(Loss) income before income taxes (3,774) 386 (4,624)
(Benefit from) provision for income taxes (2,795) (177) 337
Net (loss) income (979) 563 (4,961)
Net (loss) income attributable to non-controlling interest (560) 3,608 1,937
Net loss attributable to i3 Verticals, Inc. $ (419) $ (3,045) $ (6,898)
Net (loss) income per share attributable to Class A common stockholders      
Basic (in USD per share) [2] $ (0.03) $ (0.29) $ 0.08
Diluted (in USD per share) [2] $ (0.03) $ (0.29) $ 0.08
Weighted average shares of Class A common stock outstanding      
Basic (shares) [1] 14,833,378 10,490,981 8,812,630
Diluted (shares) [1] 27,429,801 10,490,981 26,873,878
[1] Effective October 1, 2019, the Company's revenues are presented net of interchange and network fees in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. See Note 2 to our consolidated financial statements for a description of the recently adopted accounting pronouncement.
[2] Basic and diluted net income per share of Class A common stock are presented only for the period after the Company’s Reorganization Transactions. See Note 1 for a description of the Reorganization Transactions. See Note 18 for the calculation of income per common share.