i3 Verticals Q2 revenue up 9% to $63.1M; adj. EBITDA $17.1M; acquires utility billing software, sells HC RCM for $96M

i3 Verticals, Inc.

2025-Q2 EPS reported $0.08 vs consensus $0.21 ▼ miss (-61.9%)

Q2 revenue $63.1M (+8.8% YoY); net income from continuing ops $1.1M vs loss $2.3M in prior year.
Adjusted EBITDA from continuing ops $17.1M (+12.7% YoY; margin 27.2% vs 26.2%).
Non-GAAP adj. diluted EPS $0.32 vs $0.12 prior year; ARR $199.1M (+6.5% YoY).
Acquired a utility billing software company on April 1 for $9M cash (up to $5M contingent).
Divested Healthcare RCM Business on May 5 for $96M cash; RCM contributed $9.1M revenue in Q2.

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