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i3 Verticals, Inc. logo

i3 Verticals, Inc.

IIIV

NASDAQTechnologySoftware - Infrastructure

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Previous close

$16.68

+$0.03 · +0.18%

Aug 21, 4:00 PM ET

IIIV company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

67

Undervalued

Momentum

33

Weakening

Sentiment

73

Bullish

Risk resilience

51

Elevated Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

i3 Verticals, Inc. (IIIV) delivers comprehensive payment and software solutions, catering to the operational needs of small and medium-sized businesses, as well as various organizations within the education, non-profit, public sector, and healthcare industries across the United States. The company's operations are divided into two primary divisions: Merchant Services, and Proprietary Software and Payments. Through its offerings, i3 Verticals enables clients to seamlessly accept electronic payments. This critical service facilitates the secure and efficient exchange of funds and transaction data among clients, financial institutions, and diverse payment networks. Beyond payment processing, the firm also licenses its proprietary software, provides ongoing technical support, and supplies other solutions integral to point-of-sale operations. Its solutions reach customers via a multi-faceted approach, including a direct sales team, various distribution partners (such as independent software vendors, value-added resellers, and independent sales organizations), and referral channels comprising financial institutions, trade associations, chambers of commerce, and card issuers. Established in 2012, i3 Verticals maintains its headquarters in Nashville, Tennessee.

Industry
Software - Infrastructure
Sector
Technology
Headquarters
US
CEO
Gregory S. Daily
Listed since
Jun 21, 2018
Employees
1,202

Market position

Day range

Current $16.68

52-week range

Current $16.68

Open
$16.63
Previous close
$16.65
Volume
288.24K
0.66× average
Average volume
435.1K
Average daily volume
Market cap
398.6M USD
Beta
0.84
Market reference 1
50-day average
$19.9102
-16.22% below average
200-day average
$22.3967
-25.52% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
717.24M USD
P/E (TTM)
40.92×
P/B (TTM)
1.15×
P/S (TTM)
1.83×
EV / EBITDA
17.46×
Earnings yield
2.30%
Free cash flow yield
0.48%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
66.06%
Operating margin
2.46%
Net margin
4.90%
Return on equity
4.59%
Return on assets
2.80%
Return on invested capital
0.36%

Financial health

Debt / equity
0.42×
Current ratio
1.95×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends104%62%19%-23%Gross margin, FY2021: 74.25%Gross margin, FY2022: 93.16%Gross margin, FY2023: 71.10%Gross margin, FY2024: 91.92%Gross margin, FY2025: 55.67%Operating margin, FY2021: -0.01%Operating margin, FY2022: -12.33%Operating margin, FY2023: -2.33%Operating margin, FY2024: 2.98%Operating margin, FY2025: 1.88%Net margin, FY2021: -1.99%Net margin, FY2022: -9.11%Net margin, FY2023: -0.43%Net margin, FY2024: 49.30%Net margin, FY2025: 8.38%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 74.25%. Gross margin FY2022 93.16%. Gross margin FY2023 71.10%. Gross margin FY2024 91.92%. Gross margin FY2025 55.67%. Operating margin FY2021 -0.01%. Operating margin FY2022 -12.33%. Operating margin FY2023 -2.33%. Operating margin FY2024 2.98%. Operating margin FY2025 1.88%. Net margin FY2021 -1.99%. Net margin FY2022 -9.11%. Net margin FY2023 -0.43%. Net margin FY2024 49.30%. Net margin FY2025 8.38%.

Income trends

Revenue

213.16M USD-7.29%

Operating income

4.01M USD-41.48%

Net income

17.87M USD-84.23%
Income trends across reported periods255.23M USD154M USD52.78M USD−48.45M USDRevenue, FY2021: 224.12M USDRevenue, FY2022: 187.75M USDRevenue, FY2023: 189.68M USDRevenue, FY2024: 229.92M USDRevenue, FY2025: 213.16M USDOperating income, FY2021: −12K USDOperating income, FY2022: −23.14M USDOperating income, FY2023: −4.41M USDOperating income, FY2024: 6.85M USDOperating income, FY2025: 4.01M USDNet income, FY2021: −4.46M USDNet income, FY2022: −17.1M USDNet income, FY2023: −811K USDNet income, FY2024: 113.34M USDNet income, FY2025: 17.87M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 224.12M USD. Revenue FY2022 187.75M USD. Revenue FY2023 189.68M USD. Revenue FY2024 229.92M USD. Revenue FY2025 213.16M USD. Operating income FY2021 −12K USD. Operating income FY2022 −23.14M USD. Operating income FY2023 −4.41M USD. Operating income FY2024 6.85M USD. Operating income FY2025 4.01M USD. Net income FY2021 −4.46M USD. Net income FY2022 −17.1M USD. Net income FY2023 −811K USD. Net income FY2024 113.34M USD. Net income FY2025 17.87M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue213.16M USD229.92M USD189.68M USD187.75M USD224.12M USD
Cost of goods sold94.49M USD18.57M USD54.81M USD12.83M USD57.71M USD
Gross profit118.67M USD211.35M USD134.87M USD174.92M USD166.42M USD
Research and development—13.55M USD11.16M USD7.85M USD6.28M USD
Selling, general, and administrative114.66M USD173.23M USD175.75M USD154.57M USD132.99M USD
Operating expenses114.66M USD204.5M USD139.28M USD198.06M USD166.43M USD
Interest expense2.3M USD29.26M USD25.13M USD14.78M USD9.8M USD
Depreciation and amortization27.9M USD23.9M USD36.46M USD21.57M USD24.42M USD
Operating income4.01M USD6.85M USD−4.41M USD−23.14M USD−12K USD
Net income17.87M USD113.34M USD−811K USD−17.1M USD−4.46M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 5 misses, 0 met estimates
Average EPS surprise
-4.83%
11 comparable reports
Latest EPS result
0.25
Estimate 0.25 · Miss by 0.99%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.360.30.240.18Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 0.31, estimate 0.28, surprise +10.71%, Beat. Q2 2025, reported May 8, 2025: actual 0.32, estimate 0.3, surprise +6.67%, Beat. Q3 2025, reported Aug 7, 2025: actual 0.23, estimate 0.21, surprise +9.52%, Beat. Q4 2025, reported Nov 17, 2025: actual 0.27, estimate 0.26, surprise +3.85%, Beat. Q1 2026, reported Feb 5, 2026: actual 0.26, estimate 0.23, surprise +13.04%, Beat. Q2 2026, reported May 7, 2026: actual 0.32, estimate 0.3, surprise +6.67%, Beat. Q3 2026, reported Aug 6, 2026: actual 0.25, estimate 0.253, surprise -0.99%, Miss. Q4 2026, reported Nov 16, 2026: actual —, estimate 0.3, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates66.69M60.9M55.12M49.34MQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 61.69M USD, estimate 58.79M USD, surprise +4.94%, Beat. Q2 2025, reported May 8, 2025: actual 63.06M USD, estimate 64.12M USD, surprise -1.66%, Miss. Q3 2025, reported Aug 7, 2025: actual 51.9M USD, estimate 53.68M USD, surprise -3.32%, Miss. Q4 2025, reported Nov 17, 2025: actual 54.9M USD, estimate 53.68M USD, surprise +2.27%, Beat. Q1 2026, reported Feb 5, 2026: actual 52.7M USD, estimate 52.18M USD, surprise +1.00%, Beat. Q2 2026, reported May 7, 2026: actual 57.5M USD, estimate 57.51M USD, surprise -0.02%, Miss. Q3 2026, reported Aug 6, 2026: actual 53.1M USD, estimate 54.99M USD, surprise -3.44%, Miss. Q4 2026, reported Nov 16, 2026: actual —, estimate 54.45M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$26.00

55.88% upside
Past 12 months12-month forecastHigh $30.00Average $26.00Low $20.00

Rating distribution

15 ratings
Strong buy17%
Buy1067%
Hold320%
Sell17%
Strong sell00%

IIIV news

zacks.com

Do Options Traders Know Something About i3 Verticals Stock We Don't?

Investors need to pay close attention to IIIV stock based on the movements in the options market lately.

Read source
marketbeat.com

i3 Verticals Sees Strong Demand but Cuts Outlook as Public-Sector Budgets Normalize

i3 Verticals NASDAQ: IIIV CFO Geoff Smith said the public-sector software provider continues to see strong underlying demand across its core markets, though funding conditions are becoming less favorable after a period…

Read source
defenseworld.net

Dimensional Fund Advisors LP Acquires 68,573 Shares of i3 Verticals, Inc. $IIIV

Dimensional Fund Advisors LP boosted its holdings in i3 Verticals, Inc. (NASDAQ: IIIV) by 12.5% during the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange…

Read source
seekingalpha.com

i3 Verticals, Inc. (IIIV) Q3 2026 Earnings Call Transcript

i3 Verticals, Inc. (IIIV) Q3 2026 Earnings Call Transcript

Read source
marketbeat.com

i3 Verticals Q3 Earnings Call Highlights

i3 Verticals NASDAQ: IIIV reported third-quarter fiscal 2026 results that fell short of its expectations, prompting the public-sector software and payments company to lower its full-year outlook. Management cited…

Read source
businesswire.com

i3 Verticals Reports Third Quarter 2026 Financial Results

NASHVILLE, Tenn.--(BUSINESS WIRE)---- $IIIV--i3 Verticals, Inc. (Nasdaq: IIIV) (“i3 Verticals” or the “Company”) today reported its financial results for the fiscal third quarter ended June 30, 2026. Highlights from…

Read source

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ETFs holding IIIV

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
12.51M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24—
Vanguard Information Technology ETF logoVanguard Information Technology ETFVGT
Market value
11.54M
Weight
0.01%
AUM
160.2B USD
Expense ratio
0.09%
Price / 1D
$118.42—
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
9.77M
Weight
0.01%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96—
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
4.2M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53—
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
3.5M
Weight
0.02%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81—
State Street SPDR S&P Software & Services ETF logoState Street SPDR S&P Software & Services ETFXSW
Market value
2.67M
Weight
0.53%
AUM
—
Expense ratio
—
Price / 1D
$201.83—
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
2.63M
Weight
0.01%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25—
U.S. Micro Cap Portfolio ETF logoU.S. Micro Cap Portfolio ETFDFMC
Market value
1.4M
Weight
0.02%
AUM
8.06B USD
Expense ratio
0.43%
Price / 1D
$60.95—

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