NASDAQ$IIIV

i3 Verticals Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported financial results for the fiscal fourth quarter and year ended September 30, 2021.

i3 Verticals reported a strong fourth quarter with significant year-over-year revenue and adjusted EBITDA growth. The company's focus on vertical market software and embedded payment opportunities drove revenue and payment volume increases. The company also announced an acquisition in the Healthcare vertical and the addition of Decosta Jenkins to its Board of Directors.

  • Fourth quarter revenue increased by 76% year-over-year to $67.2 million.
  • Fourth quarter net loss was $1.9 million, slightly better than the prior year's $2.0 million loss.
  • Adjusted EBITDA for the fourth quarter increased by 79.0% year-over-year to $17.1 million.
  • Software and related services revenue reached 42% of total revenue for the quarter.

Headline financials

Total Revenue

$67.2M

Previous: $38.3M+75.5%
EPS (adj)

$0.33

Previous: $0.20+65.0%
Capital Expenditures

$574K

Previous: $1.03M-44.2%
Free Cash Flow

$10.1M

Previous: $12.6M-19.7%
Net Income

-$1.95M

Previous: -$2.02M+3.8%
Operating Income

$627K

Previous: $1.2M-47.7%
Gross Profit

$50.5M

Previous: $25.9M+94.9%
Cash & Equivalents

$3.64M

Previous: $15.6M-76.6%
Total Assets

$652M

Previous: $404M+61.5%
Stock-Based Comp

$8.17M

Previous: $3M+172.0%

Revenue & EPS history

i3 Verticals · Revenue · Quarterly

$67.2M

Q4 2021+75.5%vs Q4 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Forward guidance

The Company provided its outlook for the fiscal year ending September 30, 2022, excluding future acquisitions and transaction-related costs.

Tailwinds

  • Revenue is projected to be between $280 million and $300 million.
  • Adjusted EBITDA is expected to be in the range of $70 million to $78 million.
  • Pro forma adjusted diluted earnings per share are anticipated to be between $1.25 and $1.40.
  • Assumes an effective pro forma tax rate of 25.0% (non-GAAP).

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-0.5%

Avg return

Earnings day

-0.7%

Avg return

5 days after

+0.0%

Avg return

30 days after

35%

11 / 31 earnings

Positive

+14.6%

Q4 2019

Best reaction

-13.8%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-7.7%-17.5%-13.9%
Q1 2026+5.3%+9.8%+18.0%
Q4 2025-10.4%-17.5%-9.4%
Q2 2025-4.3%-0.6%-7.7%
Q1 2025+9.9%+12.7%-2.4%
Q4 2024-1.2%-3.0%-3.9%
Q3 2024-5.2%-11.0%-9.6%
Q2 2024-9.9%-10.1%-13.9%
Q1 2024+0.3%+3.8%+20.7%
Q4 2023-0.8%+1.4%+1.8%
Q3 2023-5.7%-2.0%-3.0%
Q2 2023-3.8%-9.3%-0.9%
Q1 2023-11.1%-10.3%-16.8%
Q4 2022+7.8%+4.5%+5.1%
Q3 2022-8.2%-12.6%-22.3%
Q2 2022-3.1%-7.1%-4.1%
Q1 2022+10.3%+12.1%+8.1%
Q4 2021-2.4%-12.0%-5.1%
Q3 2021-4.8%-8.0%-8.6%
Q2 2021-2.6%-0.3%-0.7%
Q1 2021+8.0%+4.0%-1.6%
Q4 2020+0.0%+11.5%+31.2%
Q3 2020+10.9%+10.4%+3.2%
Q2 2020+9.5%+10.7%+36.9%
Q1 2020-2.9%-12.1%-30.4%
Q4 2019+14.6%+18.0%+28.7%
Q3 2019-13.8%-22.2%-19.5%
Q2 2019-1.5%+0.6%-3.2%
Q1 2019-3.7%-3.8%-10.6%
Q4 2018+11.5%+26.9%+27.5%
Q3 2018-1.5%+10.3%+7.2%
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2016

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