Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $200M | $263M | $324M | $376M | $150M | $224M | $188M | $190M | $191M | $213M |
| Revenue growth | — | 31.5% | 23.2% | 16.3% | -60.1% | 49.3% | -16.2% | 1.0% | 0.8% | 11.5% |
| Gross profit | $45.6M | $56.8M | $83.2M | $107M | $123M | $195M | $283M | $333M | — | — |
| Gross margin | 22.8% | 21.6% | 25.7% | 28.4% | 82.2% | 87.2% | 150.6% | 175.7% | — | — |
| Operating income | $3.96M | $7.60M | $12.4M | $6.39M | $7.77M | -$12.0K | -$23.1M | -$4.41M | $4.36M | $3.78M |
| Operating margin | 2.0% | 2.9% | 3.8% | 1.7% | 5.2% | -0.0% | -12.3% | -2.3% | 2.3% | 1.8% |
| Net income | -$2.09M | $902K | -$6.90M | -$3.04M | -$419K | -$4.46M | -$17.1M | -$811K | $113M | $17.9M |
| Net margin | -1.0% | 0.3% | -2.1% | -0.8% | -0.3% | -2.0% | -9.1% | -0.4% | 59.3% | 8.4% |
| EPS (diluted) | — | — | $0.08 | -$0.29 | -$0.03 | -$0.22 | -$0.77 | -$0.07 | $4.73 | $0.72 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $10.0M | $8.33M | $18.1M | $26.6M | $23.7M | $44.5M | $43.8M | $37.2M | $48.4M | $5.69M |
| Capital expenditures | $862K | $636K | $2.22M | $807K | $2.91M | $1.94M | $2.27M | $4.20M | $2.96M | $1.94M |
| Free cash flow | $9.14M | $7.69M | $15.9M | $25.8M | $20.8M | $42.6M | $41.5M | $33.0M | $45.4M | $3.75M |
| Share buybacks | — | — | — | — | — | — | — | $0.00 | $0.00 | $37.6M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.19M | $955K | $572K | $1.12M | $15.6M | $3.64M | $3.49M | $3.10M | $86.5M | $66.7M |
| Total assets | $100M | $140M | $175M | $349M | $404M | $652M | $770M | $884M | $731M | $638M |
| Total liabilities | — | $129M | $62.9M | $207M | $163M | $362M | $463M | $556M | $215M | $121M |
| Long-term debt | — | $107M | $31.8M | $139M | $90.8M | $201M | $287M | $388M | $0.00 | $0.00 |
| Shareholders' equity | — | — | $39.3M | $80.1M | $156M | $205M | $218M | $237M | $380M | $390M |
| Retained earnings | — | -$33.0M | $736K | -$2.31M | -$2.02M | -$6.48M | -$23.6M | -$12.9M | $100M | $118M |
| Shares (wtd avg diluted) | — | — | 26.9M | 10.5M | 27.4M | 31.7M | 22.2M | 33.2M | 33.9M | 34.2M |
Every figure is extracted from i3 Verticals, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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