i3 Verticals, Inc.
IIIV Nasdaq· Services-Prepackaged Software
Last close · Oct 23, 2026
$17.37
KIRA · Stoqly’s AI analyst, in plain words
- i3 Verticals, Inc. had $213M of revenue in fiscal 2025, up 11.5% on the year before. Over five years, revenue changed +7.3% a year on average.
- Its operating margin was 1.8%, down 0.5 pts: of every 100 in sales, about 2 is left after running the business.
- i3 Verticals, Inc. made $17.9M of net profit in fiscal 2025.
- Free cash flow was $3.8M in fiscal 2025, 1.8% of revenue.
- i3 Verticals, Inc. returned $37.6M to shareholders in fiscal 2025, 1,002% of free cash flow. The diluted share count rose 0.9%.
- i3 Verticals, Inc. has $66.7M more cash than debt.
Market cap
$339M
P/E
24.1x
Revenue
$213M
Net income
$17.9M
Free cash flow
$3.8M
Operating margin
1.8%
i3 Verticals, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+11.5%
Yes. Sales grew 11.5% last year.
Does it make a profit?
8.4%
A little. It keeps 8.4% of every sale as profit.
Does profit turn into cash?
1.8%
Partly. 1.8% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
24.1x
One share costs 24.1 times its yearly profit per share.
What i3 Verticals, Inc. does
No business description yet.
- Fiscal year ends
- September 30, 2025
- Latest annual report
- 10-K · Nov 21, 2025
- Legal name
- i3 Verticals, Inc.
- CIK
- 0001728688
i3 Verticals, Inc. · IIIV
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $224M | $188M | $190M | $191M | $213M |
| Revenue growth | 49.3% | −16.2% | 1.0% | 0.8% | 11.5% |
| Net interest income | −$9.8M | −$14.8M | −$25.1M | — | — |
| Gross margin | 87.2% | 150.6% | 175.7% | — | — |
| Operating margin | −0.0% | −12.3% | −2.3% | 2.3% | 1.8% |
| Net income | −$4.5M | −$17.1M | −$0.8M | $113M | $17.9M |
| Net margin | −2.0% | −9.1% | −0.4% | 59.3% | 8.4% |
| Diluted EPS | −$0.22 | −$0.77 | −$0.07 | $4.73 | $0.72 |
| Cash | |||||
| Cash from operations | $44.5M | $43.8M | $37.2M | $48.4M | $5.7M |
| Capital expenditure | $1.9M | $2.3M | $4.2M | $3.0M | $1.9M |
| Free cash flow | $42.6M | $41.5M | $33.0M | $45.4M | $3.8M |
| FCF margin | 19.0% | 22.1% | 17.4% | 23.8% | 1.8% |
| Share buybacks | — | — | $0.0M | $0.0M | $37.6M |
| Share count change | 15.6% | −29.8% | 49.4% | 1.9% | 0.9% |
| Debt and strength | |||||
| Cash and short-term investments | $3.6M | $3.5M | $3.1M | $86.5M | $66.7M |
| Debt incl. finance leases | $201M | $287M | $388M | $26.2M | $0.0M |
| Shareholders' equity | $205M | $218M | $237M | $380M | $390M |
| Net debt / EBITDA | 8.1x | — | 20.4x | −2.0x | −2.1x |
| Current ratio | 0.6x | 0.8x | 0.9x | 0.9x | 1.9x |
| Returns and quality | |||||
| Return on capital | −0.0% | −3.6% | −0.6% | 1.1% | 0.8% |
| Return on equity | −2.5% | −8.1% | −0.4% | 36.8% | 4.6% |
| Return on tangible equity | — | — | — | — | 336.1% |
| Piotroski F-score | 3 | 5 | 5 | 6 | 5 |
| Altman Z'' | 0.2 | −0.0 | 0.3 | 2.2 | 4.7 |
Insiders bought, 12 months
$1.0M
1 insider
Insiders sold, 12 months
$0.7M
2 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
i3 Verticals, Inc. · IIIV
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $17.37 a share, the company is worth $339M: 24.1 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001728688). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.