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i3 Verticals (IIIV) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 7, 2026 · i3 Verticals (IIIV) Q3 FY26 earnings results →

Q3 FY26 Revenue up 2% year over year to $53.1M · 11¢ of every $1 of revenue kept as net profit · operating margin -1.7%

i3 Verticals made $53.1M in Q3 FY26 (+2% Y/Y): Software and other related revenue $39.8M, Proprietary payments revenue $13.3M. Operating margin -1.7%, net earnings $5.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.

Revenue$53.1M
Year over year+2%
Operating margin-1.7%
Net earnings$5.7M
Operating cash flow$14.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $53.1M in Q3 FY26, up 2% year over year and down 8% from the previous quarter. Software and other related revenue was the largest line at 75% of revenue. Software and other related revenue added $1.0M year over year (up 3%), 84% of the total change.

Operating costs exceeded revenue by $892K, an operating margin of -1.7%. Total costs fell 5% while revenue rose 2%. Net earnings were $3.5M, down 73% year over year. The effective tax rate was 18.8%. Non-operating items added $7.9M, 113% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $14.3M (up 94% year over year), 252% of net income including minority interests. Non-cash charges added back $7.3M of depreciation and amortization and $5.1M of share-based compensation. Working capital and other items used $3.9M. Capital expenditures of $1.3M left free cash flow of $13.0M.

Quarterly history

i3 Verticals revenue by quarteri3 Verticals revenue by quarter$60.9MQ4 FY24$54.1MQ2 FY25$51.9MQ3 FY25$54.9MQ4 FY25$52.7MQ1 FY26$57.5MQ2 FY26$53.1MQ3 FY26
i3 Verticals net earnings by quarteri3 Verticals net earnings by quarter$118MQ4 FY24$769KQ2 FY25$18.4MQ3 FY25$3.1MQ4 FY25$484KQ1 FY26$1.5MQ2 FY26$5.7MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 7, 2026$53.1M+2%-1.7%$5.7M$14.3M
Q2 FY2610-QMay 8, 2026$57.5M+6%6.5%$1.5M$10.0M
Q1 FY2610-QFeb 6, 2026$52.7M+0.9%3.1%$484K$14.1M
Q4 FY2510-KNov 21, 2025$54.9M+7%2.7%$3.1M$14.0M
Q3 FY2510-QAug 8, 2025$51.9M-7%-9.3%$18.4M$7.4M
Q2 FY2510-QMay 9, 2025$54.1M-7%7.3%$769K−$27.1M
Q4 FY2410-KNov 25, 2024$60.9M+4%5.6%$118M$15.1M

Charts

i3 Verticals: revenue growth, year over year and quarter over quarteri3 Verticals: revenue growth, year over year and quarter over quarterY/YQ/Q+4%Q4 FY24-7%-11%Q2 FY25-7%-4%Q3 FY25+7%+6%Q4 FY25+1%-4%Q1 FY26+6%+9%Q2 FY26+2%-8%Q3 FY26
Latest (Q3 FY26): Y/Y +2%, Q/Q -8%.
i3 Verticals: where the cash came from (+) and went (−), TTM to Q3 FY26i3 Verticals: where the cash came from (+) and went (−), TTM to Q3 FY26Buybacks−$137MNet borrowing (+) / repaid (−)$114MAcquisitions−$60.0MOperating cash flow$52.4MCash drawn (+) / kept (−)$50.4MOther investing−$8.4MOther financing−$5.2MTaxes on employees’ shares−$4.7MCapital spending−$2.5MAsset & business sales$448KShares issued$279K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
i3 Verticals: profit against cash, quarter by quarteri3 Verticals: profit against cash, quarter by quarterNet incomeOperating cash flow$179M$15.1MQ4 FY24$3.1M$11.5MQ1 FY25$769K−$27.1MQ2 FY25$18.4M$7.4MQ3 FY25$4.2M$14.0MQ4 FY25$947K$14.1MQ1 FY26$2.2M$10.0MQ2 FY26$5.7M$14.3MQ3 FY26
Latest (Q3 FY26): Net income $5.7M, Operating cash flow $14.3M.
i3 Verticals: diluted shares by fiscal yeari3 Verticals: diluted shares by fiscal year27MFY2032MFY2122MFY2233MFY2334MFY2434MFY25
+24.6% since FY20: more shares outstanding (issuance, stock pay).
i3 Verticals in its industry: growth against margin (192 companies, SIC 7372)i3 Verticals in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYIIIV (+2%, -2%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About i3 Verticals

i3 Verticals provides mission-critical enterprise software solutions to public sector entities. These comprehensive cloud-native solutions address a broad range of government functions, including courts and public safety, public administration, utilities, transportation and schools. The Company’s mission is to enable state and local governments and related agencies to perform their functions and serve their constituents as effectively and efficiently as possible. With thousands of software installations across all 50 states and Canada, i3 Verticals is a leader in the public sector vertical.

In its own words, from its 10-K, filed Nov 21, 2025.

i3 Verticals against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +14%. Operating margin: -1.7% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
IIIV i3 VerticalsQ3 FY26$53.1M+2%-1.7%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: i3 Verticals 10-Q on SEC EDGAR · CIK 1728688 · Services-Prepackaged Software

13F: who owns IIIV and who is buying

Largest holders of IIIV (13F)Largest holders of IIIV (13F)Vanguard Group$46.1MBlackRock$38.5MFirst Eagle Investment Management…$30.9MGeneva Capital Management LLC$25.4MAltraVue Capital, LLC$23.9MCrosslink Capital$23.9MPunch & Associates Investment Man…$23.5MNorth Reef Capital Management LP$23.0MHeartland Advisors$20.6MForager Capital Management, LLC$18.5M
Funds' net buying of IIIV by quarter (13F)Funds' net buying of IIIV by quarter (13F)$2.2M2024-09$8.6M2024-12$25.3M2025-03$124M2025-06−$2.5M2025-09−$3.9M2025-12−$51.2M2026-03−$54.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on IIIV

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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