I3 Verticals(NASDAQ) IIIV

i3 Verticals, Inc. helps local governments and schools run. Its software lets groups handle payments and records digitally. These tools make public services faster for citizens.

Helping the Public Sector

• Public Sector Software: Cloud-native tools for courts, transportation, utilities, revenue, and schools.
• Payment Processing: Systems that allow organizations to accept credit and debit card payments.
• Support Services: Ongoing technical help and software maintenance for long-term software users.
• Point-of-Sale Operations: Specialized hardware and software used to process face-to-face transactions.

Streamlining Growth Through Divestitures

• Sold the healthcare revenue cycle management business for $96.3 million in May 2025.
• Completed the sale of the merchant services business for $439.5 million in Sept. 2024.
• Acquired a transportation insurance verification business for $60 million in early 2026.
• Purchased a utility billing software business for $10.3 million in early 2025.

A Leader Across North America

The company operates across all 50 states and Canada with thousands of software installations. Its strategy focuses on mission-critical software that is essential for government agencies to serve their citizens.

Performance by the Numbers

• Revenue was $53.1 million for the three months ended June 30, 2026, up 2.2% year over year.
• Annualized recurring revenue reached $174.1 million in Q3 2026, up 8.3% year over year.
• Net income was $5.7 million for the three months ended June 30, 2026.
• Available borrowing capacity reached $285.7 million as of June 30, 2026.
• Market capitalization was $417.5 million as of mid-2026.

Bottom Line

i3 Verticals has transitioned into a focused provider of public sector software by selling its non-core merchant and healthcare units. This shift emphasizes long-term recurring revenue from state and local government contracts.