---
schema_version: "secwatch.filing_event.v1"
accession: "0001728688-23-000030"
form_type: "8-K"
ticker: "IIIV"
cik: "0001728688"
company_name: "i3 Verticals, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:33:44.214652+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# i3 Verticals Q2 rev $93.9M (+20%), ARR $305.7M +20%; new $450M revolver

## Summary
- Q2 revenue $93.9M (+20.2%); net loss improved to $0.2M from $10.4M loss YoY.
- Adjusted EBITDA $24.7M (+26.8%), margin 26.3%; pro forma adj EPS $0.38 vs $0.37.
- ARR reached $305.7M (+20.1% YoY); software & services revenue 50.4% of total.
- Announced new $450M revolver with JPMorgan; lower rates and covenant flexibility (5.00x leverage).
- Revised FY2023 guidance: rev $360-380M, adj EBITDA $97-103M, pro forma adj EPS $1.46-1.56.

## SEC filing metadata
- accession: 0001728688-23-000030
- form_type: 8-K
- ticker: IIIV
- cik: 0001728688
- company_name: i3 Verticals, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1728688/000172868823000030/0001728688-23-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1728688/000172868823000030/iiiv-20230508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001728688-23-000030
- JSON: https://secwatch.observer/filing/0001728688-23-000030.json
- Plain text: https://secwatch.observer/filing/0001728688-23-000030.txt

## Key facts
- Debt Financings
  i3 Verticals, Inc. incurred revolving credit of $450 million with JPMorgan Chase Bank, N.A., as administrative agent at base rate or the Adjusted Term SOFR rate, plus, in each case, an applicable marg.
  - Instrument: revolving credit
  - Principal: $450 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: base rate or the Adjusted Term SOFR rate, plus, in each case, an applicable marg
  - Event: incurrence
  source text: provides for aggregate commitments of $450 million in the form of a senior secured revolving credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1728688/000172868823000030/0001728688-23-000030-index.htm
- Earnings Releases
  i3 Verticals, Inc. reported the fiscal second quarter ended March 31, 2023 results: revenue $93.9 million, net income net loss was $0.2 million, EPS diluted net loss per share available to Class A common stock was $0.00. Guidance reaffirmed.
  - Period: the fiscal second quarter ended March 31, 2023
  - Revenue: $93.9 million
  - Net income: net loss was $0.2 million
  - EPS: diluted net loss per share available to Class A common stock was $0.00
  - Guidance: reaffirmed
  - Result: reported results
  source text: results for the fiscal second quarter ended March 31, 2023. Highlights for the fiscal second quarter and six months ended March 31, 2023 vs. 2022 • Second quarter revenue was $93.9 million, an increase of 20.2% over the prior year's second quarter. Revenue for the six months ended March 31, 2023, was $179.9 million, an increase of 18.3% over the prior year's first
  evidence_url: https://www.sec.gov/Archives/edgar/data/1728688/000172868823000030/0001728688-23-000030-index.htm
- Earnings Releases
  i3 Verticals, Inc. reported the six months ended March 31, 2023 results: revenue $179.9 million, net income Net loss for the six months ended March 31, 2023, was $23,000, EPS Diluted net loss per share available to Class A common stock was $0.01 in the six months ended March 31, 2023. Guidance reaffirmed.
  - Period: the six months ended March 31, 2023
  - Revenue: $179.9 million
  - Net income: Net loss for the six months ended March 31, 2023, was $23,000
  - EPS: Diluted net loss per share available to Class A common stock was $0.01 in the six months ended March 31, 2023
  - Guidance: reaffirmed
  - Result: reported results
  source text: Revenue for the six months ended March 31, 2023, was $179.9 million, an increase of 18.3% over the prior year's first six months.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1728688/000172868823000030/0001728688-23-000030-index.htm
- Earnings Releases
  i3 Verticals, Inc. reported fiscal year ending September 30, 2023 results: revenue $360,000 - $380,000, EPS $1.46 - $1.56. Guidance reaffirmed.
  - Period: fiscal year ending September 30, 2023
  - Revenue: $360,000 - $380,000
  - EPS: $1.46 - $1.56
  - Guidance: reaffirmed
  - Result: guidance update
  source text: The Company is providing the following revised outlook for the fiscal year ending September 30, 2023: (in thousands, except share and per share amounts) Revised Outlook Range Revenue $ 360,000 - $ 380,000 Adjusted EBITDA (non-GAAP) $ 97,000 - $ 103,000 Depreciation and internally developed software amortization $ 8,000 - $ 9,000 Cash interest expense, net $ 22,000 - $ 23,000 Pro forma adjusted diluted earnings per share (1) (non-GAAP) $ 1.46 - $ 1.56
  evidence_url: https://www.sec.gov/Archives/edgar/data/1728688/000172868823000030/0001728688-23-000030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.