I3 Verticals(NASDAQ) IIIV

i3 Verticals, Inc. NASDAQ:IIIV 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.