I3 Verticals, Inc. · NASDAQ:IIIV
I3 Verticals — Q3 2022 Earnings Presentation
11 slides from I3 Verticals's earnings presentation, 2022
Slide 1: Q3 Fiscal 2022 Supplemental Information
Q3 Fiscal 2022 Supplemental Information
Slide 2: Revenue Composition
Revenue Composition ($ in thousands) Quarter Ended December 31, September 30, June 30, 2022 March 31, 2022 2021 2021 June 30, 2021 March 31, 2021 Software and related service revenue SaaS(1) $ 8,450 $ 7,899 $ 6,310 $ 6,173 $ 6,107 $ 5,632 (2) Transaction-based 3,253 2,642 2,325 2,081 2,144 1,393 (3)
Slide 3: Annualized Recurring Revenue ("ARR")
Annualized Recurring Revenue (“ARR”) 1. SaaS revenue is earned when we provide, as a service to our customers over time, the right to access our software, generally hosted in a cloud environment. 2. Transaction-based software revenue is earned when we provide services through our software and charge
Slide 4: Q3 Fiscal 2022 GAAP Measures
Q3 Fiscal 2022 GAAP Measures The following is our income (loss) from operations for the three and nine months ended June 30, 2022 and 2021 calculated in accordance with GAAP. The presentation also includes references to the Company’s non-GAAP financials measures. The Company believes that, in additi
Slide 5: Q3 QTD Fiscal 2022 Segment Performance
(1) Q3 QTD Fiscal 2022 Segment Performance ($ in thousands) Three months ended June 30, Period over period 2022 2021(2) growth Revenue Merchant Services $ 32,714 $ 29,963 9% Proprietary Software and Payments 47,839 33,729 42% Other — (563) (100)% Total $ 80,553 $ 63,129 28% Adjusted EBITDA(3) Mercha
Slide 6: Q3 YTD Fiscal 2022 Segment Performance
(1) Q3 YTD Fiscal 2022 Segment Performance ($ in thousands) Nine months ended June 30, Period over period 2022 2021(2) growth Revenue Merchant Services 91,071 81,130 12% Proprietary Software and Payments 141,575 77,491 83% Other (34) (1,674) (98)% Total $ 232,612 $ 156,947 48% Adjusted EBITDA(3) Mer
Slide 7: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The reconciliation of our quarterly income (loss) from operations to non-GAAP pro forma adjusted net income (loss) and non-GAAP adjusted EBITDA: ($ in thousands) Three months ended June 30, 2022 Three months ended June 30, 2021(1) Proprietary Proprietary
Slide 8: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 1. Effective October 1, 2020, the Company's financial statements are presented in accordance with ASU 2021-08, Accounting Standards Codification Topic 805, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. See Note 21
Slide 9: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures The reconciliation of our fiscal year to date income (loss) from operations to non-GAAP pro forma adjusted net income and non-GAAP adjusted EBITDA excluding acquisition revenue adjustments is as follows: ($ in thousands) Nine months ended June 30, 2022 N
Slide 10: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 1. Financing-related expenses includes expenses directly related to certain transactions as part of financing transactions. 2. Non-cash change in fair value of contingent consideration reflects the changes in management’s estimates of future cash conside
Slide 11: Reconciliation Between GAAP Debt and Covenant Debt
Reconciliation Between GAAP Debt and Covenant Debt The reconciliation of our GAAP Long-term debt, net of issuance costs and the debt balance used in our Total Leverage Ratio: ($ in millions) As of June 30, 2022 Revolving lines of credit to banks under the Senior Secured Credit Facility $ 207.4 Excha