Revenue: As of FY2026 Q3, the actual value is USD 53.07 M, missing the estimate of USD 54.99 M.

EPS: As of FY2026 Q3, the actual value is USD 0.19.

EBIT: As of FY2026 Q3, the actual value is USD 9.011 M.

Segment Revenue

Revenue from continuing operations for i3 Verticals, Inc. increased by 2.2% to $53.1 million for the third quarter ended June 30, 2026, and by 3.2% to $163.3 million for the nine months ended June 30, 2026, compared to the prior year periods . Total recurring revenue for the quarter ended June 30, 2026, was $43,525 thousand, an 8% year-over-year increase from $40,201 thousand in the prior year .

Specifically, SaaS Revenue reached $12,798 thousand for the quarter ended June 30, 2026, up from $9,299 thousand in the prior year . Transaction-based Revenue grew to $20,305 thousand from $19,325 thousand, while Maintenance Revenue decreased to $7,496 thousand from $8,648 thousand over the same period . Other Recurring Services Revenue remained stable at $2,926 thousand compared to $2,929 thousand .

Total non-recurring revenue for the quarter ended June 30, 2026, was $9,542 thousand, reflecting an -18% year-over-year change from $11,700 thousand . This included Professional Services Revenue of $7,641 thousand, down from $9,458 thousand, and Software Licenses & Other Revenue of $1,901 thousand, down from $2,242 thousand .

Operational Metrics

Net income from continuing operations for i3 Verticals, Inc. was $5.9 million for the third quarter ended June 30, 2026, a significant improvement from a net loss of - $1.0 million in the prior year’s third quarter . For the nine months ended June 30, 2026, net income from continuing operations increased to $9.2 million from $4.1 million in the prior year . Net income from continuing operations attributable to i3 Verticals, Inc. was $3.6 million for the third quarter, compared to a net loss of - $0.4 million in the prior year, and $5.7 million for the nine months, up from $2.5 million .

Adjusted EBITDA from continuing operations increased by 4.6% to $13.3 million for the third quarter and by 0.9% to $43.5 million for the nine months ended June 30, 2026 . The Adjusted EBITDA from continuing operations as a percentage of revenue was 25.1% for the third quarter, up from 24.5%, but decreased to 26.7% for the nine months from 27.3% .

Operating expenses for the three months ended June 30, 2026, totaled $53,959 thousand, a -5% change from $56,714 thousand in the prior year . For the nine months, total operating expenses were $158,796 thousand, a 2% change from $155,956 thousand . Costs of services (excluding depreciation and amortization) were $16,314 thousand for the three months (-3% change) and $51,034 thousand for the nine months (4% change) . Selling, general and administrative expenses were $28,858 thousand for the three months (-13% change) and $84,905 thousand for the nine months (-1% change) . Depreciation and amortization increased by 5% to $7,349 thousand for the three months and to $21,917 thousand for the nine months .

Income from operations for the three months ended June 30, 2026, was - $892 thousand, an -81% change from - $4,813 thousand in the prior year . For the nine months, income from operations was $4,460 thousand, a 94% change from $2,301 thousand . Income Before Income Taxes was $7,191 thousand for the three months, compared to - $1,018 thousand in the prior year, and $11,652 thousand for the nine months, a 58% change from $7,389 thousand . The Provision for Income Taxes was $1,313 thousand for the three months and $2,495 thousand for the nine months, a -24% change from $3,272 thousand . Net Income decreased to $5,661 thousand for the three months (-69% change) and to $8,802 thousand for the nine months (-61% change) .

Cash Flow

Net cash provided by operating activities for the nine months ended June 30, 2026, was $38,414 thousand, a significant improvement from net cash used in operating activities of - $8,276 thousand in the prior year . For the quarter ended June 30, 2026, net cash provided by operating activities was $14,264 thousand, compared to $10,027 thousand for the quarter ended March 31, 2026 .

Net cash used in investing activities for the nine months ended June 30, 2026, was - $68,120 thousand, compared to net cash provided by investing activities of $78,774 thousand in the prior year . Net cash used in financing activities was - $32,184 thousand for the nine months, compared to - $104,283 thousand in the prior year .

Free Cash Flow for the quarter ended June 30, 2026, was $10,802 thousand, up from $7,201 thousand for the quarter ended March 31, 2026 . Capital expenditures included $1,310 thousand for property and equipment and $2,152 thousand for capitalized software for the quarter ended June 30, 2026 .

Unique Metrics

Annualized Recurring Revenue (ARR) from continuing operations was $174.1 million as of June 30, 2026, representing an 8.3% period-to-period growth rate from $160.8 million as of June 30, 2025 . As of June 30, 2026, i3 Verticals, Inc.’s ARR was $174,100 thousand, an 8% year-over-year growth from $160,804 thousand as of June 30, 2025 .

2026 Outlook

i3 Verticals, Inc. has revised its outlook for the fiscal year ending September 30, 2026 . The company now anticipates revenue to be in the range of $216,000 thousand to $221,000 thousand, a reduction from the previous projection of $221,000 thousand to $229,000 thousand . Adjusted EBITDA is now expected to be between $57,000 thousand and $60,000 thousand, revised from the prior range of $61,000 thousand to $65,000 thousand .