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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue $ 51,901 $ 46,183 $ 158,257 $ 139,909
Operating expenses        
Other costs of services (excluding depreciation and amortization) [1] 16,733 15,287 48,889 44,423
Selling, general and administrative [1] 33,018 26,048 85,779 75,576
Depreciation and amortization 6,989 6,157 20,848 18,794
Change in fair value of contingent consideration (26) 1 440 171
Total operating expenses 56,714 47,493 155,956 138,964
(Loss) income from operations (4,813) (1,310) 2,301 945
Other (income) expenses        
Interest expense 806 7,906 1,932 22,307
Other income (4,601) 0 (7,020) (2,150)
Total other (income) expenses (3,795) 7,906 (5,088) 20,157
(Loss) income before income taxes (1,018) (9,216) 7,389 (19,212)
(Benefit from) provision for income taxes (22) 5,191 3,272 3,153
Net (loss) income from continuing operations (996) (14,407) 4,117 (22,365)
Net income from discontinued operations, net of income taxes 19,421 6,109 18,185 18,951
Net income (loss) 18,425 (8,298) 22,302 (3,414)
Net (loss) income from continuing operations attributable to non-controlling interest (586) (2,608) 1,653 (4,654)
Net (loss) income from discontinued operations attributed to non-controlling interest 6,129 1,855 5,865 5,809
Net income (loss) attributable to non-controlling interest 5,543 (753) 7,518 1,155
Net (loss) income from continuing operations attributable to i3 Verticals, Inc. (410) (11,799) 2,464 (17,711)
Net (loss) income from discontinued operations attributable to i3 Verticals, Inc. 13,292 4,254 12,320 13,142
Net income (loss) attributable to i3 Verticals, Inc. $ 12,882 $ (7,545) $ 14,784 $ (4,569)
Net (loss) income per share attributable to Class A common stockholders from continuing operations:        
Basic (in USD per share) $ (0.02) $ (0.50) $ 0.10 $ (0.76)
Diluted (in USD per share) (0.03) (0.50) 0.10 (0.76)
Net income per share attributable to Class A common stockholders from discontinued operations:        
Basic (in USD per share) $ 0.55 $ 0.18 0.52 $ 0.56
Diluted (in USD per share)     $ 0.49  
Weighted average shares of Class A common stock outstanding:        
Basic (in shares) 24,345,826 23,420,811 23,909,714 23,339,598
Diluted (in shares) 33,936,121   34,183,267  
Continuing Operations        
Weighted average shares of Class A common stock outstanding:        
Diluted (in shares)   23,420,811   23,339,598
Discontinued Operations        
Other (income) expenses        
Net income from discontinued operations, net of income taxes $ 19,421 $ 6,109 $ 18,185 $ 18,951
Net (loss) income from discontinued operations attributed to non-controlling interest $ 6,129 $ 1,855 $ 5,865 $ 5,809
Net income per share attributable to Class A common stockholders from discontinued operations:        
Basic (in USD per share) $ 0.55 $ 0.18 $ 0.52 $ 0.56
Diluted (in USD per share)     $ 0.49  
Weighted average shares of Class A common stock outstanding:        
Basic (in shares) 24,345,826 23,420,811 23,909,714 23,339,598
Diluted (in shares)     34,183,267  
[1] Refer to Note 3 for discussion of the change in the current and prior period presentation.