i3 Verticals, Inc.
IIIV · Price history
Price at last available close
$17.27
+$3.29 (+23.53%) 1M
2026-10-28
Tap or drag sideways to inspect a price. Use two fingers to compare automatically. Release to scroll. Use Shift + arrow keys to compare with a keyboard.
Company & revenue
About i3 Verticals, Inc.
Primary reporting period: 2025-09-30 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
i3 Verticals, Inc. (IIIV) delivers comprehensive payment and software solutions, catering to the operational needs of small and medium-sized businesses, as well as various organizations within the education, non-profit, public sector, and healthcare industries across the United States. The company's operations are divided into two primary divisions: Merchant Services, and Proprietary Software and Payments. Through its offerings, i3 Verticals enables clients to seamlessly accept electronic payments.
How they make money
i3 Verticals provides integrated software and payment solutions primarily to the public sector, including state and local governments, educational institutions, and non-profit organizations. The company generates revenue through software-as-a-service (SaaS) subscriptions, maintenance and support fees, and transaction-based processing fees for electronic payments.
Products & services
The company offers proprietary software solutions for public sector administration, including revenue management, court management, and constituent engagement platforms, alongside integrated payment processing services.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
The company does not disclose significant customer concentration in its 2025 annual report.
Suppliers, materials & equipment
- Sponsor Banks — Financial institutions that provide sponsorship required for the company to access payment networks like Visa and Mastercard.Source
Strengths
Sources
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS fell 62.0% versus the same quarter last year.
Review net income and weighted-average shares together. Per-share earnings can change because of operating performance, nonrecurring items or the share denominator.
Total debt increased 1257.5% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
28
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
29
Poor
Financial Strength
31
Business Quality / Moat
10
Management
56
Growth Quality
23
Risk / Durability
25
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
18
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
27/100
Building Historical Record
Model Score 27/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Recent buyback activity is present
- •Debt service risk
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for IIIV
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can IIIV maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is IIIV's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is IIIV's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify IIIV's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of IIIV's score?
Essential Investment Snapshot
Wall Street Score
28
Opportunity Score
18
Market Cap
$412.7M
P/E Ratio
33.9
EPS
$0.41
52-Week High
$33.97
52-Week Low
$13.63
Beta
0.82
Intrinsic Value
$6.99
Analyst Target
$28.00
Shares Outstanding
34.2M
Total Revenue
$218.2M
Total Debt
$118.9M
Dividend
No current dividend
Liquidation Value / Share
$11.71
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Building upward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for IIIV
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Debt service risk
Interest coverage is low (~1.7x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total callsNo personal call yet on IIIV.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Deep domain expertise in the public sector vertical.
- +Broad geographic footprint across all 50 states and Canada.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Software - Infrastructure industry.
- −Dependence on sponsor banks for payment network access.
- −Regulatory compliance requirements of payment networks.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
27
Aug 14, 2026
Change
+0.6
points
Current Score
28
Oct 1, 2026
Category Changes
IIIV increased 0.6 points because Asset improved by 3.7 points, Capital improved by 5 points.
Positive Contributors
- + Asset improved by 3.7 points
- + Capital improved by 5 points
Negative Contributors
- − Valuation declined by 3.5 points
Projected Score
Projected Score
20
Projected Change
-7.6 points
Preliminary comparable-period financial changes suggest decline of approximately 7.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$17.27
Model Intrinsic Value
$6.99
Difference
+$10.28
+147.2% vs IV
Margin of Safety
-147.2%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $218.2M | $213.2M | $229.9M | $189.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $74.0M | $94.5M | $18.6M | $54.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $144.1M | $118.7M | $211.3M | $134.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $13.5M | $11.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $113.8M | $114.7M | $173.2M | $175.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $138.7M | $114.7M | $204.5M | $139.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $40.5M | $41.1M | $33.2M | $33.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $5.4M | $4.0M | $6.9M | -$4.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $3.7M | $2.3M | $29.3M | $25.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $15.1M | $10.9M | -$19.0M | -$28.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $4.5M | $5.3M | -$5.7M | -$3.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $10.7M | $17.9M | $113.3M | -$811K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $0.41 | $0.75 | $4.84 | $-0.94 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 19.42M | 23.91M | 23.42M | 23.14M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 19.54M | 34.19M | 24.43M | 33.25M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$53.1M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.19
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+1257.5%
Cash Change
-95.2%
Margin Change
-14.2 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
- Margins contracted
- Cash position declined
- Debt increased
Potential Score Impact
Positive indicators included revenue growth. Pressure indicators included EPS growth, cash levels, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 2.2%. EPS declined 62.0%. Cash declined 95.2%. Total debt increased 1257.5%. Net income margin declined by 14.2 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Software - InfrastructureNews
i3 Verticals (NASDAQ: IIIV) lines up revolver
Do Options Traders Know Something About i3 Verticals Stock We Don't?
Do Options Traders Know Something About i3 Verticals Stock We Don't?
i3 Verticals Sees Strong Demand but Cuts Outlook as Public-Sector Budgets Normalize
Rumor Mill · IIIV
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
Related Stock Research
Continue researching this company with related Wall Street Score rankings and investing guides.
Score Alerts
Premium unlocks alerts when a score rises, falls, or reaches your target price.
Start 7-Day Free TrialPortfolio Score
Premium unlocks portfolio scoring, strongest and weakest holdings, and overall margin of safety.
Start 7-Day Free Trial