Filing Flows › i3 Verticals (IIIV) › Q2 FY26 › vs Q2 FY25
i3 Verticals (IIIV) Q2 FY26 vs Q2 FY25 (year over year)
i3 Verticals's revenue rose $3.4M (+6%) from $54.1M in Q2 FY25 to $57.5M in Q2 FY26. The biggest changes: Software and related services revenue +$3.0M (+8%); Proprietary payments revenue +$465K (+3%); Other revenue −$80K (-3%). Operating margin 6.5% against 9.3% (-2.8 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 Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Operating margin | 6.5% | 9.3% | -2.8 pts |
| Net margin | 2.5% | -0.3% | +2.8 pts |
| Free cash flow margin | 16.7% | -51.0% | +67.8 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Software and related services revenue | $40.7M | $37.7M | $3.0M | +8% |
| Proprietary payments revenue | $14.5M | $14.1M | $465K | +3% |
| Other revenue | $2.3M | $2.4M | −$80K | -3% |
| Revenue | $57.5M | $54.1M | $3.4M | +6% |
| Operating profit | $3.7M | $5.1M | −$1.3M | -26% |
| Costs & expenses | $53.8M | $49.1M | $4.7M | +10% |
| Pre-tax earnings | $2.7M | $3.7M | −$982K | -27% |
| Other expense, net | $1.1M | $1.4M | −$336K | -24% |
| SG&A | $29.1M | $26.3M | $2.8M | +11% |
| Other operating costs | $24.7M | $22.8M | $1.9M | +8% |
| Net earnings | $1.5M | −$154K | $1.6M | — |
| Minority interests | $730K | $923K | −$193K | -21% |
| Income tax | $478K | $2.9M | −$2.4M | -83% |
| Operating cash sources | $13.8M | $10.8M | $3.0M | +28% |
| Depreciation & amortization | $7.7M | $7.0M | $705K | +10% |
| Share-based compensation | $4.6M | $3.9M | $687K | +17% |
| Working capital & other | $3.8M | $37.9M | −$34.1M | -90% |
| Operating cash flow | $10.0M | −$27.1M | $37.1M | — |
| Free cash flow (OCF − capex) | $9.6M | −$27.6M | $37.2M | — |
| Capital expenditures | $407K | $501K | −$94K | -19% |
Questions
How much did i3 Verticals's revenue grow year over year in Q2 FY26?
i3 Verticals's revenue rose $3.4M (+6%) from $54.1M in Q2 FY25 to $57.5M in Q2 FY26.
What drove i3 Verticals's revenue change in Q2 FY26?
Software and related services revenue +$3.0M (+8%); Proprietary payments revenue +$465K (+3%); Other revenue −$80K (-3%).