i3 Verticals, Inc. (IIIV) Q2 2025 Earnings Call Transcript
RemainCo Revenues $54.1 million for Q2 2025, an increase of 11.6% from $48.5 million for Q2 2024, reflecting $4.4 million of organic growth (9%) and $1.2 million from the permitting and licensing acquisition.
Annual Recurring Revenues $164.5 million for Q2 2025, up 9.2% from $150.6 million for Q2 2024.
SaaS Revenue Growth 23% growth in SaaS revenue for Q2 2025.
Transaction-Based Revenue Growth 8% growth in transaction-based revenue for Q2 2025.
Recurring Software Services Growth 12% growth in recurring software services for Q2 2025.
Non-Recurring Sales of Software Licenses Increased to $2.8 million for Q2 2025 from $1 million for Q2 2024.
Adjusted EBITDA $15.8 million for Q2 2025, a 17% increase from $13.5 million for Q2 2024, with adjusted EBITDA margin at 29.3%, up from 27.9% due to higher software sales.
Net Debt $4 million as of March 31, following the sale of the Merchant Services Business and the Healthcare RCM Business.
Cash Position Approximately $64 million post-sale of the RCM Healthcare Business for $96 million plus transaction costs and taxes of almost $18 million.
Borrowing Capacity $400 million under the revolving credit facility with a 5x leverage constraint.
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Are Options Traders Anticipating a Significant Shift in i3 Verticals Stock?
Implied Volatility in Options Market: i3 Verticals, Inc. (IIIV) has seen significant implied volatility in its January 16, 2026 $20.00 Call option, indicating that investors expect a substantial price movement in the stock, potentially due to an upcoming event.
Analyst Sentiment: The company currently holds a Zacks Rank #4 (Sell) in the Internet - Software industry, with no analysts increasing earnings estimates recently, leading to a downward revision of the consensus estimate from 29 cents to 26 cents per share.
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Keybanc Keeps Overweight Rating on i3 Verticals, Reduces Price Target to $32
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