Filing Flows › i3 Verticals (IIIV) › Q2 FY26
i3 Verticals (IIIV) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 8, 2026
i3 Verticals (IIIV) reported revenue of $57.5M for the second quarter fiscal 2026 (Q2 FY26), +6% from a year earlier and +9% from the quarter before. Operating margin was 6.5%, net earnings $1.5M (2.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $57.5M | +9% | +6% |
| Operating profit | $3.7M | +133% | -26% |
| Net earnings | $1.5M | +202% | — |
| Operating cash flow | $10.0M | -29% | — |
| Free cash flow | $9.6M | -30% | — |
What changed
Revenue was $57.5M in Q2 FY26, up 6% year over year and up 9% from the previous quarter. Software and related services revenue was the largest line at 71% of revenue. Software and related services revenue added $3.0M year over year (up 8%), 89% of the total change. Other revenue declined 3%.
Operating profit was $3.7M, a 6.5% margin (down 2.8 points year over year). Operating profit fell $1.3M even though revenue rose $3.4M versus Q2 FY25, so costs grew faster than sales. Total costs grew 10% against revenue growth of 6%. The fastest-growing cost line was SG&A (+11%). Net earnings were $1.5M. The effective tax rate was 17.9%.
Operating cash flow was $10.0M, 457% of net income including minority interests. Non-cash charges added back $7.7M of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items used $4.5M. Capital expenditures of $407K left free cash flow of $9.6M.
Questions
What was i3 Verticals' revenue in the second quarter fiscal 2026?
i3 Verticals (IIIV) reported revenue of $57.5M for the second quarter fiscal 2026 (Q2 FY26), +6% from a year earlier and +9% from the quarter before.
Was i3 Verticals profitable in the second quarter fiscal 2026?
Operating profit was $3.7M (6.5% of revenue) and net earnings $1.5M.
Source: i3 Verticals 10-Q on SEC EDGAR.