i3 Verticals, Inc. (IIIV) Income Statement
IIIV FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsIIIV revenue and net income
Where IIIV's revenue goes
FY2025Each bar shows an amount and its share of revenue. IIIV kept 8.4% of revenue as net income.
IIIV profit margins
IIIV growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −7.3% | +4.3% | +7.3% | — |
| Gross profit | −43.9% | −12.1% | +2.9% | — |
| Operating income | −41.5% | — | −12.4% | — |
| Net income | −84.2% | — | — | — |
| EPS (diluted) | +6.5% | −12.8% | +4.9% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IIIV quarterly EPS vs estimates
i3 Verticals beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 16, 2026 (estimate $0.14).
IIIV income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $213.2M | $229.9M | $189.7M | $187.8M | $224.1M | $150.1M | $376.3M | $323.5M | $262.6M | $199.6M |
| Cost of revenue | $94.5M | $18.6M | $54.8M | $12.8M | $57.7M | $47.2M | $287.1M | $254.9M | $217.9M | $162.9M |
| Gross profit | $118.7M | $211.3M | $134.9M | $174.9M | $166.4M | $102.9M | $89.2M | $68.7M | $44.7M | $36.7M |
| Research & development | — | $13.5M | $11.2M | $7.9M | $6.3M | $4.0M | $3.0M | $1.7M | $1.5M | $1.2M |
| Sales, general & admin | $114.7M | $173.2M | $172.5M | $154.6M | $133.0M | $78.3M | $62.9M | $39.3M | $27.2M | $20.4M |
| Total operating expenses | $114.7M | $204.5M | $139.3M | $198.1M | $166.4M | $95.1M | $82.8M | $56.3M | $37.1M | $32.7M |
| Operating income | $4.0M | $6.9M | −$4.4M | −$23.1M | −$12,000 | $7.8M | $6.4M | $12.4M | $7.6M | $4.0M |
| Interest income | — | — | — | — | — | — | $6.0M | $8.5M | $6.9M | $5.9M |
| Interest expense | $2.3M | $29.3M | $25.1M | $14.8M | $9.8M | $8.9M | $6.0M | $8.5M | $6.9M | $5.9M |
| Income before taxes | $10.9M | −$19.0M | −$28.3M | −$38.9M | −$7.2M | −$3.8M | $386,000 | −$4.6M | $1.1M | −$1.9M |
| Income taxes | $5.3M | −$5.7M | −$3.5M | $152,000 | $623,000 | −$2.8M | −$177,000 | $337,000 | $177,000 | $243,000 |
| Net income | $17.9M | $113.3M | −$811,000 | −$17.1M | −$4.5M | −$419,000 | −$3.0M | −$6.9M | $902,000 | −$2.1M |
| EBITDA | $43.0M | $46.8M | $33.3M | $30.4M | $27.0M | $23.4M | $23.0M | $15.7M | $18.1M | $13.9M |
| EPS (diluted) | $0.98 | $0.92 | $1.53 | $1.48 | $1.04 | $0.77 | $0.84 | $0.46 | $0.03 | −$0.25 |
| Gross margin | 55.7% | 91.9% | 71.1% | 93.2% | 74.3% | 68.5% | 23.7% | 21.2% | 17.0% | 18.4% |
| Operating margin | 1.9% | 3.0% | −2.3% | −12.3% | −0.0% | 5.2% | 1.7% | 3.8% | 2.9% | 2.0% |
| Net margin | 8.4% | 49.3% | −0.4% | −9.1% | −2.0% | −0.3% | −0.8% | −2.1% | 0.3% | −1.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $53.1M | $57.5M | $52.7M | $54.9M | $51.9M | $63.1M | $61.7M | $60.9M | $56.0M | $58.0M | $55.1M | $96.4M |
| Cost of revenue | $16.3M | $24.8M | $24.4M | $24.8M | $16.7M | $22.2M | $21.0M | $5.0M | $4.7M | $21.1M | $19.6M | $21.0M |
| Gross profit | $36.8M | $32.7M | $28.2M | $30.2M | $35.2M | $40.9M | $40.7M | $55.8M | $51.3M | $36.8M | $35.5M | $75.4M |
| Research & development | — | — | — | — | — | — | — | $13.5M | — | — | — | $11.2M |
| Sales, general & admin | $28.9M | $29.1M | $27.0M | $28.9M | $33.0M | $28.7M | $28.9M | $39.1M | $45.0M | $54.2M | $53.5M | $43.2M |
| Total operating expenses | $37.6M | $28.9M | $27.0M | $28.9M | $40.0M | $36.9M | $38.0M | $52.3M | $52.0M | $34.3M | $34.0M | $66.6M |
| Operating income | −$892,000 | $3.7M | $1.3M | $1.3M | −$4.8M | $4.0M | $2.7M | $3.6M | −$669,000 | $2.5M | $1.5M | $8.8M |
| Interest expense | $1.8M | $1.1M | $381,000 | $367,000 | $806,000 | $446,000 | $680,000 | $7.0M | $7.9M | $7.8M | $6.7M | $6.7M |
| Income before taxes | $7.2M | $2.7M | $1.8M | $3.5M | −$1.0M | $4.1M | $3.8M | −$2.2M | −$8.6M | −$3.0M | −$5.3M | $350,000 |
| Income taxes | $1.3M | $478,000 | $704,000 | $2.0M | −$22,000 | $3.1M | $523,000 | −$9.2M | $5.3M | −$669,000 | −$1.1M | −$3.1M |
| Net income | $3.5M | $1.5M | $484,000 | $3.1M | $12.9M | −$154,000 | $2.1M | $117.9M | −$7.5M | $1.9M | $1.1M | $4.5M |
| EBITDA | $16.4M | $11.5M | $9.0M | $10.9M | $7.1M | $12.4M | $12.2M | $14.2M | $9.4M | $14.8M | $11.1M | $16.7M |
| EPS (diluted) | $0.05 | $0.32 | $0.26 | $0.27 | $0.08 | $0.32 | $0.31 | $0.15 | $0.07 | $0.34 | $0.36 | $0.40 |
| Gross margin | 69.3% | 56.8% | 53.6% | 54.9% | 67.8% | 64.8% | 65.9% | 91.7% | 91.6% | 63.5% | 64.4% | 78.2% |
| Operating margin | −1.7% | 6.5% | 2.4% | 2.3% | −9.3% | 6.3% | 4.4% | 5.8% | −1.2% | 4.3% | 2.7% | 9.1% |
| Net margin | 6.6% | 2.5% | 0.9% | 5.6% | 24.8% | −0.2% | 3.3% | 193.7% | −13.5% | 3.2% | 2.0% | 4.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IIIV's financial statements (latest annual report filed November 21, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IIIV financial results
In fiscal year 2025 (ended September 30, 2025), i3 Verticals reported revenue of $213.2 million, down 7.3% from the year before. It had net income of $17.9 million (down 84.2%), a net profit margin of 8.4%. Diluted earnings per share came to $0.98. Over five years revenue grew at an average rate of 7.3% a year.
See the IIIV stock overview for the latest quote and news, or the IIIV chart for price history and technical indicators.
IIIV income statement FAQ
What is i3 Verticals's annual revenue?
i3 Verticals reported total revenue of $213.2 million for fiscal year 2025, which ended on September 30, 2025. That was down 7.3% from $229.9 million the previous year.
Is i3 Verticals profitable?
Yes. i3 Verticals reported net income of $17.9 million in fiscal 2025, a net profit margin of 8.4%; its operating margin was 1.9%.
What is i3 Verticals's gross margin?
i3 Verticals's gross margin was 55.7% in fiscal 2025: for every $100 of revenue, i3 Verticals kept $56 after the direct cost of its products and services.
How fast is i3 Verticals growing?
Revenue grew 7.3% a year on average over the last five fiscal years, from $150.1 million to $213.2 million.
What are i3 Verticals's earnings per share?
i3 Verticals earned $0.98 per diluted share in fiscal 2025, compared with $0.92 a year earlier.
When will i3 Verticals report its next earnings?
i3 Verticals is expected to report results for the quarter ending September 30, 2026 on November 16, 2026.
When does i3 Verticals's fiscal year end?
i3 Verticals's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 21, 2025.