i3 Verticals, Inc.

IIIV Technology Software Infrastructure

In the quarter to June 2026, revenue grew 2.25%, EPS fell 66.0% and free cash flow grew 129.9%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.

16.68 0.08 +0.48%
Market cap
$437.0M
P/E
41.7×
Fwd P/E
119×
Dividend yield
—
F-score
5/9
Altman Z
4.60
Beneish M
−2.19
Dividend safety
n/a

Insider Decisions trades per month

Total buys 0.96
Total sells 0.70
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — 1 — — — — —
Sell 2 1 — — 1 — — — — — — —
Insider Ownership 12.26%

Capital & Financial Ratios $m

Market Cap 436.95
Revenue 218.16
Net Income 13.00
Free Cash Flow 41.93
Net Debt 111.63
Current Ratio 1.21
Debt/Equity 0.29 (at or below 0.5: strong)
P/E ratio 41.70 (above 35: high)
Fwd P/E 119.00 (above 35: high)
P/S ratio 1.48
P/B ratio 0.81
Past 5Y EPS Growth —
This Y EPS Growth 2.14%
Next Y EPS Growth 13.75%
Next Y revenue growth 2.13%
Next 5Y EPS Growth 9.41%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 59.63%
10-year low 10-year high
P/S against its own 10 years 25.23%
10-year low 10-year high
P/B against its own 10 years 2.06%
10-year low 10-year high
EV/Sales against its own 10 years 26.14%
10-year low 10-year high
EV/FCF against its own 10 years 2.34%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3 87 67 3
Receivables 51 51 58 49
Inventory — — — —
Other 22 6 0 0
86 153 138 63
2023 2024 2025 Q'26
Payables 6 5 6 4
ST’ Debt 5 26 — —
Other 17 5 0 0
93 165 71 53

Compound Annual Growth %

10y 5y 3y
Sales — 7.26% 4.32%
Cash Flow — (24.83%) (49.33%)
Earnings — 0.00% 0.00%
Book Value — 16.60% 18.94%

Revenue $m

Dec Mar Jun Sep Year
’26 53 58 53 — —
’25 52 54 52 55 213
’24 55 58 46 32 191
’23 86 94 57 — 190
’22 74 78 81 (45) 188
’21 45 49 63 67 224
’20 41 39 32 38 150
Fiscal quarters ending in the months shown.
value withheld pending a data check

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 14 10 14 — —
’25 11 (27) 7 14 6
’24 14 11 8 15 48
’23 18 8 0 11 37
’22 22 9 5 8 44
’21 12 18 4 10 45
’20 7 1 1 14 24
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 12 7 11 — —
’25 10 (29) 5 12 (3)
’24 8 6 4 11 29
’23 14 4 (4) 5 19
’22 20 6 1 4 31
’21 10 16 0 8 35
’20 6 (1) (1) 12 16
Fiscal quarters ending in the months shown.

EPS $

Dec Mar Jun Sep Year
’26 0.02 0.07 0.18 — —
’25 0.08 (0.01) 0.50 0.11 0.70
’24 0.04 0.08 (0.32) 4.65 4.64
’23 (0.01) 0.00 (0.22) 0.11 (0.07)
’22 (0.11) (0.33) (0.17) (0.15) (0.77)
’21 (0.13) 0.04 (0.15) (0.05) (0.22)
’20 (0.01) 0.05 (0.02) (0.06) (0.03)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — 13.79 18.65 13.01 17.80 18.59 17.87 17.54 22.00

Analyst estimates 2026–2028

Powerpack
High — — 25.50 31.45 37.85 35.99 30.26 30.84 26.66 33.97
People
People Employees — 326 338 542 740 1,438 1,637 1,663 1,480 1,202
Revenue/emp, $m 0.00 0.81 0.96 0.69 0.20 0.16 0.11 0.11 0.13 0.18
Income, $m
Income, $m Revenue 200 263 324 376 150 224 188 190 191 213
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT (2) 1 (5) 0 (4) (7) (39) (28) (22) 11
EBT margin, % (0.93) 0.41 (1.43) 0.10 (2.51) (3.22) (20.72) (14.93) (11.25) 5.11
Net income (2) 1 (5) 1 (1) (8) (23) (3) 175 27
Depreciation 10 11 13 17 22 30 35 38 39 31
Per share, $
Per share, $ Revenue 21.96 28.88 36.71 35.87 10.12 10.68 8.44 8.20 8.17 8.91
Earnings (0.23) 0.10 0.08 (0.29) (0.03) (0.21) (0.77) (0.04) 4.84 0.75
Cash flow 1.10 0.92 2.05 2.54 1.60 2.12 1.97 1.61 2.07 0.24
Capex (0.32) (0.41) (0.65) (0.64) (0.52) (0.47) (0.56) (0.80) (0.84) (0.36)
Free cash flow 0.78 0.51 1.41 1.90 1.08 1.65 1.41 0.80 1.23 (0.12)
Book value (1.05) 0.35 12.73 13.58 16.19 13.79 13.83 14.19 22.01 21.65
Shares, m 9 9 9 10 15 21 22 23 23 24
Valuation, ×
Valuation, × P/E 0.00 0.00 297.13 0.00 0.00 0.00 0.00 0.00 4.45 44.47
P/S 0.00 0.00 0.65 0.56 2.49 2.27 2.37 2.49 2.61 3.64
P/B 0.00 0.00 1.87 1.48 1.56 1.76 1.45 1.44 0.97 1.50
EV/Sales 0.00 0.00 0.76 0.94 3.03 3.16 3.91 4.54 4.11 3.51
EV/FCF 17.61 17.61 19.83 17.80 28.46 20.47 23.48 46.29 27.41 (199.97)
Cash, $m
Cash, $m Operating cash flow 10 8 18 27 24 45 44 37 48 6
Capex (3) (4) (6) (7) (8) (10) (12) (19) (20) (9)
Free cash flow 7 5 12 20 16 35 31 19 29 (3)
Balance, $m
Balance, $m Working capital (5) (5) (10) (15) (1) (38) (27) (8) (11) 67
Total debt 84 111 37 139 91 204 292 393 26 —
Net debt 80 110 36 138 75 200 288 389 (60) (67)
Shareholders’ equity (10) 3 112 142 240 290 308 328 515 518
Returns, %
Returns, % ROA (1.74) 0.75 (4.38) (1.16) (0.11) (0.84) (2.41) (0.10) 14.04 2.61
ROIC 3.53 4.20 5.21 1.42 1.54 0.00 (2.43) (0.38) 0.60 0.52
ROE 65.78 (28.35) (11.96) (2.39) (0.22) (1.68) (5.73) (0.26) 26.87 3.46
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026 · fundamentals updated 1 Oct 2026

Charts ten years each

i3 Verticals, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KPLT Katapult Holdings, Inc. $490.4M 4.7× — (loss-making) +4.00% (above 0%: growing) n/m +6.44% (above 0%: growing) 15.39% (2.58%) Compare
ALLT Allot Ltd. $445.7M 41.0× 61.6× +15.33% (above 0%: growing) n/m +122.93% (above 0%: growing) 71.27% 3.96% Compare
IIIV i3 Verticals, Inc. $437.0M 41.7× 119× +2.25% (above 0%: growing) −66.04% (below 0%: shrinking) +129.93% (above 0%: growing) 100.00% (1.68%)
OWLS OBOOK Holdings Inc. $415.2M — — — — −18.94% (below 0%: shrinking) — — Compare
CINT CI&T Inc. $387.8M 10.4× 11.6× +21.88% (above 0%: growing) −28.57% (below 0%: shrinking) −1,767.69% (below 0%: shrinking) 31.09% 8.45% Compare
LSAK Lesaka Technologies, Inc. $381.8M 125× 19.0× +11.79% (above 0%: growing) n/m +167.38% (above 0%: growing) 33.21% 3.22% Compare
RPAY Repay Holdings Corporation $369.5M — (loss-making) — (loss-making) +33.16% (above 0%: growing) n/m +21.11% (above 0%: growing) 70.13% (3.23%) Compare
QIWI QIWI PLC $355.6M 9.1× 3.3× −360.74% (below 0%: shrinking) n/m −94.56% (below 0%: shrinking) 51.39% 24.46% Compare
NUAI New Era Energy & Digital, Inc. $354.9M — (loss-making) — −82.54% (below 0%: shrinking) n/m −399.88% (below 0%: shrinking) 100.00% (46,250.68%) Compare
Median of peers $384.8M 10.4× 15.3× +11.79% — −6.25% 51.39% 3.22%

All 173 Software Infrastructure stocks →

i3 Verticals, Inc. (IIIV) key facts

  • i3 Verticals, Inc. (IIIV) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, IIIV traded at $16.68, a market capitalization of $437.0 million.
  • Return on equity was 3.46% and debt-to-equity 0.29.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 4.60 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 1, 2026.

i3 Verticals, Inc. (IIIV) Latest News

13 Aug

1 Jun

Impact 4 · transcript
Impact 4 · transcript

8 May

20 Feb

18 Nov

stockrow.com/IIIV · Data as of Oct 1, 2026 · For information only; not investment advice. · © 2026 stockrow.com