7Baggers
Quarterly
Annual
    Unit: USD2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 
      
    		                            
      cash flows from operating activities:
    		                            
      net income
    		18,425,000 769,000 3,108,000 178,544,000 -8,298,000 3,348,000 1,536,000 3,449,000 -6,078,000 -192,000 169,000 -4,410,000 -4,688,000 -10,438,000 -3,681,000 930,000 -4,595,000 -53,000 -4,121,000 -2,022,000 -2,810,000 1,919,000 1,934,000 27,000 -593,000 -1,222,000 2,351,000 2,862,000 
      adjustments to reconcile net income from operating activities:
    		                            
      depreciation and amortization
    		7,264,000 7,840,000 7,684,000 7,580,000 10,057,000 10,069,000 9,739,000 9,612,000 9,158,000 9,015,000 8,676,000 7,601,000 7,506,000 7,447,000 6,870,000 6,480,000 6,995,000 5,851,000 5,092,000 4,549,000 4,475,000 4,538,000 4,655,000 4,689,000 4,425,000 3,898,000 3,552,000 2,963,000 
      equity-based compensation
    		7,396,000 3,932,000 3,814,000 8,951,000 5,102,000 5,777,000 6,508,000 7,032,000 7,198,000 6,802,000 6,846,000 6,550,000 6,799,000 6,257,000 6,624,000 8,166,000 5,111,000 4,142,000 3,441,000 3,002,000 2,816,000 2,510,000 2,124,000 2,002,000 1,808,000 1,363,000 951,000 750,000 
      amortization of debt issuance costs
    		216,000 250,000 280,000  221,000                        
      gain on repurchase of exchangeable notes
    		   0 0                        
      loss on sale of exchangeable senior note hedges
    		   0 0                        
      gain on repurchases of warrants
    		   0 0                        
      benefit from deferred income taxes
    		1,785,000   -3,644,000           -228,000 129,000 -110,000            
      adjustments to gain on sale of merchant services business
    		4,000                            
      gain on sale of healthcare rcm business
    		                            
      non-cash lease expense
    		771,000 298,000 864,000 937,000 1,185,000 1,165,000 1,184,000 1,219,000 1,175,000 1,226,000 1,063,000 1,238,000 1,238,000 1,241,000 1,205,000 876,000 810,000 824,000 694,000          
      changes in non-cash contingent consideration expense from original estimate
    		-15,000 381,000 1,377,000  -18,000 -290,000 -237,000                      
      other non-cash adjustments to net income
    		402,000 -46,000 -320,000 553,000 125,000 155,000 513,000 600,000 37,000 407,000 502,000                  
      changes in operating assets:
    		                            
      accounts receivable
    		1,930,000 -1,328,000 1,353,000 2,007,000 2,057,000 10,838,000 -5,321,000 -10,618,000 -3,536,000 -2,371,000 8,868,000 -10,971,000 -1,956,000 -2,216,000 -628,000 -8,076,000 -4,254,000 2,486,000 -1,094,000 -239,000 -2,876,000 869,000 1,218,000 -1,328,000 950,000 697,000 2,111,000 -4,526,000 
      prepaid expenses and other current assets
    		2,223,000 1,634,000 -4,779,000 795,000 1,987,000 -1,612,000 -1,773,000 1,730,000 1,660,000 1,452,000 -3,312,000 -894,000 1,383,000 423,000 -4,541,000 -2,613,000 3,076,000 -51,000 -1,976,000 864,000 -1,231,000 230,000 -847,000 962,000 -1,195,000 44,000 -628,000 -416,000 
      other assets
    		-569,000 -610,000 156,000 -597,000 -274,000 -7,444,000 6,642,000 -885,000 -270,000 -397,000 -313,000 640,000 -750,000 -210,000 -877,000 -3,139,000 1,560,000 -1,177,000 -1,298,000 -145,000 -91,000 -931,000 -377,000 -400,000 -1,110,000 -1,136,000 -123,000 -188,000 
      changes in operating liabilities:
    		                            
      accounts payable
    		343,000 -2,827,000 1,807,000 -2,822,000 -1,311,000 2,621,000 -1,725,000 2,785,000 373,000 -537,000 -947,000 1,295,000 -1,247,000 1,070,000 419,000 2,693,000 1,151,000 -2,464,000 2,503,000 -750,000 1,099,000 -1,070,000 960,000 -4,257,000 3,244,000 -29,000 -726,000 448,000 
      accrued expenses and other current liabilities
    		3,389,000 -34,940,000 -5,899,000 34,692,000 1,903,000 -8,087,000 -534,000 1,866,000 3,461,000 2,744,000 -7,753,000 1,967,000 5,049,000 -804,000 6,818,000 -1,942,000 3,135,000 12,756,000 -3,496,000 4,471,000 -432,000 239,000 -2,703,000 2,188,000 -1,468,000 406,000 446,000 -896,000 
      acquisition escrow obligations
    		-2,200,000   29,000 28,000 -839,000 -1,009,000 51,000 -6,806,000                    
      deferred revenue
    		-6,567,000 -4,863,000 3,833,000 5,167,000 -5,398,000 -1,836,000 4,093,000 8,000,000 -6,691,000 -4,877,000 2,249,000 9,366,000 -7,641,000 -5,123,000 5,439,000 5,111,000 -5,496,000 -2,335,000 7,870,000 1,071,000 118,000 -750,000 178,000 5,221,000 -1,021,000 -735,000 -877,000 2,910,000 
      operating lease liabilities
    		-785,000 -870,000 -906,000 -1,093,000 -1,146,000 -1,152,000 -1,212,000 -1,191,000 -1,105,000 -1,170,000 -1,064,000 -1,209,000 -1,195,000 -1,169,000 -1,180,000 -828,000 -777,000 -752,000 -782,000          
      other long-term liabilities
    		-1,000 1,000 -102,000 -10,513,000 -4,000 2,679,000 -2,677,000    2,000   -2,000 1,000 -85,000 1,000 -6,736,000 6,038,000 105,000 53,000 -44,000 -21,000 4,000 -5,000 -21,000 -22,000 202,000 
      contingent consideration paid in excess of original estimates
    		-700,000 0 -60,000 -1,000 -3,413,000 -1,235,000 -1,918,000 -8,496,000 -6,926,000 -669,000 -3,212,000 -6,667,000 -7,422,000 -445,000 -3,538,000 0 479,000 0 -4,115,000 0 -684,000   0 0 -690,000 -870,000 -1,278,000 
      net cash from operating activities
    		7,351,000 -27,122,000 11,495,000 15,143,000 8,119,000 12,097,000 13,050,000 4,880,000 4,094,000 7,350,000 18,179,000 10,006,000 4,627,000 9,303,000 21,910,000 10,693,000 12,206,000 11,921,000 11,954,000 13,633,000 1,240,000 1,363,000 7,484,000 10,300,000 4,873,000 5,352,000 6,072,000 3,073,000 
      capex
    		-544,000 -501,000 -471,000 -530,000 -897,000 -838,000 -699,000 -1,094,000 -788,000 -884,000 -1,438,000 -873,000 -428,000 -583,000 -384,000 -574,000 -479,000 -336,000 -549,000 -1,028,000 -960,000 -375,000 -548,000 -222,000 -273,000 -205,000 -107,000 -908,000 
      free cash flows
    		6,807,000 -27,623,000 11,024,000 14,613,000 7,222,000 11,259,000 12,351,000 3,786,000 3,306,000 6,466,000 16,741,000 9,133,000 4,199,000 8,720,000 21,526,000 10,119,000 11,727,000 11,585,000 11,405,000 12,605,000 280,000 988,000 6,936,000 10,078,000 4,600,000 5,147,000 5,965,000 2,165,000 
      cash flows from investing activities:
    		                            
      expenditures for property and equipment
    		-544,000 -501,000 -471,000 -530,000 -897,000 -838,000 -699,000 -1,094,000 -788,000 -884,000 -1,438,000 -873,000 -428,000 -583,000 -384,000 -574,000 -479,000 -336,000 -549,000 -1,028,000 -960,000 -375,000 -548,000 -222,000 -273,000 -205,000 -107,000 -908,000 
      proceeds from sale of property and equipment
    		0 38,000 1,463,000 0 0 0 618,000                      
      expenditures for capitalized software
    		-2,097,000 -1,794,000 -2,410,000 -2,773,000 -3,117,000 -3,006,000 -3,100,000 -3,257,000 -3,533,000 -2,660,000 -2,721,000 -2,968,000 -2,894,000 -2,347,000 -1,958,000 -1,676,000 -1,622,000 -1,695,000 -1,166,000 -845,000 -810,000 -660,000 -578,000 -749,000 -696,000 -370,000 -412,000 -332,000 
      purchases of merchant portfolios and residual buyouts
    		   -787,000 -371,000 -1,331,000 -2,883,000 -1,729,000 -75,000 -112,000 -275,000     -319,000    -111,000 -80,000 -1,052,000 -545,000 -878,000 -126,000 -2,108,000 -474,000 0 
      acquisitions of businesses, net of cash and restricted cash acquired
    		    0 0 -1,100,000  0 -12,500,000 -89,497,000  -6,400,000 -34,315,000 -60,000,000              
      proceeds from sale of healthcare rcm business, net of cash sold
    		                            
      payments for other investing activities
    		   -55,000 -5,000 -23,000 -11,000 -24,000 0 -425,000 -802,000                  
      proceeds from other investing activities
    		    4,000 0 4,000                      
      net cash from investing activities
    		82,449,000 -2,257,000 -1,418,000 412,905,000 -4,386,000 -5,198,000 -7,171,000 -6,105,000 -4,285,000 -16,600,000 -94,530,000 -3,695,000 -9,752,000 -37,245,000 -62,353,000 631,000 -41,012,000 -54,605,000 -61,329,000 -29,687,000 -1,863,000 -2,099,000 -1,782,000 -12,023,000 -86,760,000 -22,919,000 -22,026,000 -7,099,000 
      cash flows from financing activities:
    		                            
      proceeds from revolving credit facility
    		21,972,000 34,309,000 1,743,000 90,909,000 89,624,000 141,725,000 64,694,000 54,586,000 44,625,000 108,807,000 157,004,000 77,055,000 78,830,000 74,826,000 105,009,000 40,552,000 86,820,000 87,189,000 88,255,000 47,099,000 44,033,000 49,708,000 31,283,000 38,572,000 97,419,000 27,500,000 25,000,000 8,000,000 
      payments on revolving credit facility
    		-33,972,000 -22,309,000 -1,743,000 -442,309,000 -84,439,000 -61,049,000 -71,661,000 -59,479,000 -42,116,000 -100,914,000 -79,025,000 -99,445,000 -59,747,000 -46,008,000 -49,900,000  -53,991,000            
      payments to extinguish exchangeable notes
    		0                            
      payments for repurchase of exchangeable notes
    		   0 0               -10,607,000         
      proceeds from sale of exchangeable senior note hedges
    		   0 0 988,000 250,000                      
      payments for repurchases of warrants
    		   0 0 -433,000 -119,000                      
      payments of debt issuance costs
    		   -24,000    0 -607,000 0 -87,000         -85,000         
      payments for repurchases of class a common stock
    		-26,106,000 -308,000 -11,190,000                          
      net payments for settlement obligations
    		-49,000                            
      cash paid for contingent consideration
    		   0 0   -1,997,000 -3,660,000 -175,000 -1,000,000 -7,952,000 -11,161,000 0 -6,217,000 0 -1,150,000 0 -1,736,000 -504,000 -866,000   0 0 -1,904,000 -730,000 0 
      payments for required distributions to members or on behalf of members for tax obligations
    		-910,000                            
      payments for required distributions to members under the tax receivable agreement
    		0                            
      proceeds from stock option exercises
    		0 0 150,000 0    26,000 50,000 50,000 54,000 77,000 400,000 43,000 174,000 292,000 287,000 148,000 851,000 290,000 0 2,000 472,000 282,000     
      payments for employees' tax withholdings from net settled stock option exercises and rsu releases
    		                            
      net cash from financing activities
    		-44,254,000 -49,562,000 -10,467,000 -352,147,000 2,670,000 -10,690,000 -7,195,000 -6,577,000 -1,940,000 7,244,000 76,925,000 -12,662,000 7,928,000 28,544,000 49,223,000 -13,416,000 31,619,000 35,678,000 48,222,000 25,969,000 8,137,000 1,641,000 -6,635,000 1,798,000 82,953,000 18,073,000 16,270,000 1,777,000 
      net increase in cash, cash equivalents and restricted cash
    		      -1,316,000  -2,131,000 -2,006,000 574,000  2,803,000 602,000 8,780,000              
      cash, cash equivalents and restricted cash at beginning of period
    		0 0 89,597,000  0 0 12,400,000  0 0 23,765,000  0 0 17,931,000              
      cash, cash equivalents and restricted cash at end of period
    		45,546,000 -78,941,000 89,207,000  6,403,000 -3,791,000 11,084,000  -2,131,000 -2,006,000 24,339,000  2,803,000 602,000 26,711,000              
      supplemental disclosure of cash flow information:
    		                            
      cash paid for interest
    		323,000 381,000 59,000 7,719,000 7,666,000 7,918,000 6,189,000 6,988,000 4,222,000 5,987,000 4,279,000 3,557,000 1,957,000 2,104,000 1,367,000 1,628,000 1,032,000 1,348,000 420,000 1,295,000 674,000 1,310,000 1,971,000 1,931,000 1,423,000 827,000 730,000 -1,080,000 
      cash paid for income taxes
    		955,000 34,107,000 50,000 346,000 1,608,000 4,988,000 388,000 1,305,000 512,000 1,247,000 172,000 244,000 247,000 32,000 556,000 7,000 216,000   388,000 142,000 -25,000 287,000 -23,191,000 22,686,000 1,820,000 105,000 346,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                            
      payments for employee's tax withholdings from net settled stock option exercises and rsu releases
    		    -475,000 0 -204,000  -232,000                    
      net decrease in cash, cash equivalents and restricted cash
    		 -78,941,000 -390,000                          
      (benefit from) benefit from deferred income taxes
    		  -715,000                -219,000  -134,000        
      net proceeds from (payments for) settlement obligations
    		  573,000                          
      payments for required distributions to members for tax obligations
    		   29,000 -928,000 -34,000 -155,000             0 0        
      amortization of debt discount and issuance costs
    		      414,000 202,000 583,000 368,000 361,000 1,483,000 1,459,000 1,437,000 1,416,000 1,393,000 1,373,000 1,352,000 1,332,000 1,429,000 1,436,000        
      net gain on sale of investments
    		                            
      gain on sale of merchant services business
    		                            
      write down of intangible asset
    		                            
      increase in non-cash contingent consideration expense from original estimate
    		       876,000 6,183,000 2,279,000 1,443,000 -959,000 8,254,000 11,503,000 4,927,000 1,305,000 3,609,000 322,000 1,904,000 52,000 -1,473,000 -142,000 154,000 1,653,000 -417,000 2,502,000 -349,000 586,000 
      acquisitions of businesses, net of cash acquired
    		               0 -37,400,000 -52,500,000 -59,595,000     -10,174,000 -85,638,000 -20,224,000 -21,000,000 -5,500,000 
      proceeds from sale of merchant services business, net of cash sold
    		                            
      proceeds from investments
    		       0 111,000 -19,000 203,000                  
      proceeds from issuance of class a common stock, net of underwriting discounts and offering costs
    		                            
      payments for employee's tax withholdings from net settled stock option exercises
    		          -21,000 -89,000 -394,000 -317,000 157,000 -21,000 -347,000 -163,000 -200,000 -189,000 0        
      net increase in cash, cash equivalents, and restricted cash
    		                  -1,153,000 9,915,000 7,514,000 905,000 -933,000 75,000 1,066,000 506,000 316,000  
      cash, cash equivalents, and restricted cash at beginning of period
    		               0 0 0 20,601,000 0 0 0 3,200,000 0 0 0 1,237,000  
      cash, cash equivalents, and restricted cash at end of period
    		               -2,092,000 2,813,000 -7,006,000 19,448,000 9,915,000 7,514,000 905,000 2,267,000 75,000 1,066,000 506,000 1,553,000  
      net (payments for) proceeds from settlement obligations
    		                            
      benefit from income taxes
    		     -1,420,000 182,000    355,000                  
      settlement obligations
    		      -1,355,000 -5,920,000 3,608,000 -4,601,000 4,246,000 1,175,000 -907,000 -762,000 2,581,000              
      payments of equity issuance costs
    		                            
      (benefit from) benefit from income taxes
    		                            
      loss on repurchase of exchangeable notes
    		                   1,469,000         
      acquisition of other intangibles
    		           -2,000 0 0 -11,000 0 -11,000 -74,000 -19,000 -14,000 -13,000 -12,000 -111,000 0 -27,000 -12,000 -33,000 -359,000 
      payments for loans to third parties
    		                            
      proceeds from loans to third parties
    		                            
      proceeds from sale of investments
    		                            
      proceeds from borrowings on exchangeable notes
    		                   0 0        
      payments for purchase of exchangeable senior note hedges
    		                   0 0        
      proceeds from issuance of warrants
    		                   0 0        
      proceeds from issuance of class a common stock sold in public offering, net of underwriting discounts and offering costs
    		                       90,027,000     
      payments for common units in i3 verticals, llc from selling unit holders
    		                            
      benefit from doubtful accounts
    		            200,000 199,000 116,000 -107,000 0 67,000 62,000 72,000 41,000 43,000 21,000 -13,000 -15,000 43,000 15,000  
      amortization of capitalized customer acquisition costs
    		            354,000 11,000 167,000  138,000 129,000 119,000    88,000      
      unrealized gain on investment
    		                0            
      loans to third parties
    		                            
      loss on disposal of assets
    		                   0    0 0 0 8,000 0 
      debt issuance cost write offs
    		                            
      amortization of capitalized client acquisition costs
    		                   110,000 104,000        
      payments of revolving credit facility
    		                  -38,948,000 -82,053,000 -28,079,000 -164,745,000 -38,390,000 -37,005,000 -2,862,000 -5,250,000 -6,750,000 -4,750,000 
      payments of notes payable to banks
    		                       0 -32,500,000 -1,250,000 -1,250,000 -1,250,000 
      payments for common units in i3 verticals, llc from selling unitholders
    		                            
      debt issuance costs write offs
    		                    0        
      net (decrease) in cash, cash equivalents, and restricted cash
    		                2,813,000            
      non-cash change in fair value of warrant liability
    		                           0 
      proceeds from notes payable to banks
    		                           0 
      payment of notes payable to mezzanine lenders
    		                           0 
      payment of unsecured notes payable to related and unrelated creditors
    		                           0 
      proceeds from the exercise of mezzanine warrants and junior subordinated notes warrants
    		                           0 
      proceeds from issuance of class a common stock sold in initial public offering, net of underwriting discounts and offering costs
    		                           -223,000 
      payment of debt issuance costs
    		                       -16,000    0 
      amortization of deferred financing costs
    		                      100,000 102,000 154,000 232,000 233,000 237,000 
      debt extinguishment costs
    		                       0     
      payments for common units in i3 verticals, llc from selling shareholders
    		                            
      proceeds from the issuance of class a units
    		                            
      payment of equity issuance costs for class a unit issuances
    		                            
      required distributions to members for tax obligations
    		                       -35,000 -1,002,000    
      (benefit from) deferred income taxes
    		                            
      payments for common units in i3 verticals, llc from selling shareholder
    		                           0 
      benefit for doubtful accounts
    		                            
      benefit for deferred income taxes
    		                            
      restricted cash
    		                            
      payment of equity issuance costs for 2017 class a unit issuance
    		                            
      net increase in cash and cash equivalents
    		                            
      cash and cash equivalents, beginning of period
    		                            
      cash and cash equivalents, end of period
    		                            
      supplemental disclosure of non-cash investing and financing activities:
    		                            
      common units issued as part of acquisitions' purchase consideration
    		                            
      acquisition date fair value of contingent consideration in connection with business combinations
    		                            
      replacement of 2016 senior secured credit facility with senior secured credit facility
    		                            
      mezzanine notes net settled with mezzanine warrant exercises
    		                            
      unsecured notes payable to related and unrelated creditors net settled with junior subordinated notes warrants
    		                            
      settlement of warrant liability with equity as a result of mezzanine warrant exercise
    		                            
      preferred return on redeemable class a units
    		                            
      preferred return on class a units
    		                            
      debt issuance costs financed with proceeds from senior secured credit facility
    		                            
      conversion of notes payable to related and unrelated creditors to class a common stock
    		                            
      increase in accrued equity issuance costs
    		                            
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.