Filing Flows › i3 Verticals (IIIV) › Q2 FY26 › vs Q1 FY26
i3 Verticals (IIIV) Q2 FY26 vs Q1 FY26 (quarter over quarter)
i3 Verticals's revenue rose $4.8M (+9%) from $52.7M in Q1 FY26 to $57.5M in Q2 FY26. The biggest changes: Software and related services revenue +$5.0M (+14%); Other revenue −$196K (-8%); Proprietary payments revenue +$48K (+0.3%). Operating margin 6.5% against 3.1% (+3.5 pts).
i3 Verticals, Q2 FY26: revenue $57.5M (+6% year over year), operating margin 6.5%, net earnings $1.5M, operating cash flow $10.0M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Operating margin | 6.5% | 3.1% | +3.5 pts |
| Net margin | 2.5% | 0.9% | +1.6 pts |
| Free cash flow margin | 16.7% | 26.2% | -9.5 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Software and related services revenue | $40.7M | $35.7M | $5.0M | +14% |
| Proprietary payments revenue | $14.5M | $14.5M | $48K | +0.3% |
| Other revenue | $2.3M | $2.5M | −$196K | -8% |
| Revenue | $57.5M | $52.7M | $4.8M | +9% |
| Operating profit | $3.7M | $1.6M | $2.1M | +133% |
| Costs & expenses | $53.8M | $51.1M | $2.7M | +5% |
| Pre-tax earnings | $2.7M | $1.7M | $1.0M | +62% |
| Other expense, net | $1.1M | −$42K | $1.1M | — |
| SG&A | $29.1M | $27.0M | $2.1M | +8% |
| Other operating costs | $24.7M | $24.1M | $644K | +3% |
| Net earnings | $1.5M | $484K | $980K | +202% |
| Minority interests | $730K | $463K | $267K | +58% |
| Income tax | $478K | $704K | −$226K | -32% |
| Operating cash sources | $13.8M | $12.5M | $1.3M | +10% |
| Depreciation & amortization | $7.7M | $6.9M | $838K | +12% |
| Share-based compensation | $4.6M | $5.2M | −$559K | -11% |
| Working capital & other | $3.8M | −$1.6M | $5.4M | — |
| Operating cash flow | $10.0M | $14.1M | −$4.1M | -29% |
| Free cash flow (OCF − capex) | $9.6M | $13.8M | −$4.2M | -30% |
| Capital expenditures | $407K | $315K | $92K | +29% |
Questions
How much did i3 Verticals's revenue grow quarter over quarter in Q2 FY26?
i3 Verticals's revenue rose $4.8M (+9%) from $52.7M in Q1 FY26 to $57.5M in Q2 FY26.
What drove i3 Verticals's revenue change in Q2 FY26?
Software and related services revenue +$5.0M (+14%); Other revenue −$196K (-8%); Proprietary payments revenue +$48K (+0.3%).