I3 VERTICALS Reports Third Quarter Earnings Results for FY2023 on June 30, 2023
August 11, 2023
🌥️Earnings Overview
I3 VERTICALS ($NASDAQ:IIIV) reported a total revenue of USD 93.9 million for the third quarter of FY2023, a 16.6% increase from the same quarter the year before. Net income for this period was USD -5.2 million, a decrease from the previous year’s figure of -3.7 million, on June 30 2023.
Market Price
On Tuesday, June 30, 2023, I3 VERTICALS reported its third quarter earnings results for the fiscal year 2023. The stock opened at $23.8 and closed at $23.4, down by 2.9% from its previous closing price of 24.1. This is the first time that I3 VERTICALS has reported its quarterly earnings since the beginning of the fiscal year, and investors are closely watching how the company will fare during this period. I3 VERTICALS’ quarterly results show a slight decrease in operating income, as well as a slight decrease in their overall net income. While this may be concerning to some investors, I3 VERTICALS’ management has stated that they are working hard to expand their business and build up their profits in order to make up for the slight decrease in earnings. I3 VERTICALS’ stock has faced some volatility over the last few months, but the company is hoping to turn things around with their solid third quarter earnings report.
I3 VERTICALS has plans to continue investing in technology and expanding their services to be able to better compete in the market. They are also looking to expand their customer base and increase their reach into international markets. The company has taken a number of steps to increase their profitability and bring up their share price. Investors are encouraged by the steps that I3 VERTICALS has taken so far, and are hopeful that their third quarter results will be a sign of better things to come in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for I3 Verticals. More…
| Total Revenues | Net Income | Net Margin |
| 359.08 | -8.83 | -1.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for I3 Verticals. More…
| Operations | Investing | Financing |
| 40.16 | -113.05 | 73.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for I3 Verticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 875.82 | 562.88 | 9.6 |
Key Ratios Snapshot
Some of the financial key ratios for I3 Verticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.7% | 79.0% | 5.7% |
| FCF Margin | ROE | ROA |
| 7.0% | 5.7% | 1.5% |
Analysis
As a financial analyst at GoodWhale, I conducted an analysis of I3 VERTICALS‘s financials. According to our unique Star Chart rating system, I3 VERTICALS is classified as a ‘cheetah’ type of company. This indicates that the company has achieved high revenue or earnings growth but is seen as less stable due to lower profitability. Given these characteristics, I believe that I3 VERTICALS would be an attractive investment for certain types of investors who are looking for a higher risk, higher reward investment. After all, I3 VERTICALS has a high health score of 7/10 with regard to its cashflows and debt, suggesting that the company is well-positioned to safely ride out any crisis without the risk of bankruptcy. Overall, I3 VERTICALS is strong in terms of growth, medium in terms of profitability, and weak in terms of assets and dividend. So, investors who are looking for a higher risk, higher reward investment may find I3 VERTICALS attractive. More…
Peers
The company offers businesses a suite of integrated products and services, including credit and debit card processing, electronic check processing, ACH processing, and related value-added services. I3 Verticals Inc competes with Paya Holdings Inc, AvidXchange Holdings Inc, Shift4 Payments Inc, and other companies in the electronic payments industry. The company has a competitive advantage in terms of its product offerings, pricing, and customer service.
– Paya Holdings Inc ($NASDAQ:PAYA)
Paya Holdings Inc is a publicly traded company with a market capitalization of 991.89M as of 2022. The company has a Return on Equity of 5.83%. Paya Holdings Inc is a provider of payment processing services. The company offers a range of services including credit and debit card processing, ACH processing, and check processing. Paya Holdings Inc also offers merchant services, such as point-of-sale, mobile commerce, and e-commerce solutions.
– AvidXchange Holdings Inc ($NASDAQ:AVDX)
Founded in 2000, AvidXchange is a software company that provides accounts payable and payment automation solutions for mid-market companies. The company serves over 6,000 customers in North America and Europe, including Coca-Cola Bottling Co. Consolidated, Duke Energy, and Hard Rock International.
AvidXchange went public in October 2018, raising $261 million in its initial public offering. The company has a market capitalization of $1.76 billion as of May 2021.
AvidXchange has negative shareholder equity of $19.96 million as of March 2021. The company has been unprofitable since its inception, with net losses totaling $316.5 million since 2000.
– Shift4 Payments Inc ($NYSE:FOUR)
Shift4 Payments Inc is a publicly traded company with a market capitalization of $2.43 billion as of 2022. The company has a return on equity of 0.69%. Shift4 Payments Inc is a provider of payment processing and technology solutions for the hospitality and retail industries. The company’s products and services include point-of-sale systems, payment gateway solutions, and data security and fraud prevention solutions.
Summary
Investors looking to evaluate I3 VERTICALS should take note of their third quarter FY2023 financials. Total revenue for the quarter was reported at USD 93.9 million, representing a 16.6% increase year-over-year. Although net income showed a decrease from the previous year’s -3.7 million to -5.2 million, the company has seen significant growth in their top-line numbers. Going forward, investors should closely follow I3 VERTICALS’ performance and progress as they continue to grow and expand in the marketplace.
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