Filing Flows › i3 Verticals (IIIV) › Q3 FY26 › vs Q2 FY26
i3 Verticals (IIIV) Q3 FY26 vs Q2 FY26 (quarter over quarter)
i3 Verticals's revenue fell $4.5M (-8%) from $57.5M in Q2 FY26 to $53.1M in Q3 FY26. The biggest changes: Proprietary payments revenue −$1.2M (-8%); Software and other related revenue −$899K (-2%).
i3 Verticals, Q3 FY26: revenue $53.1M (+2% year over year), operating margin -1.7%, net earnings $5.7M, operating cash flow $14.3M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Free cash flow margin | 24.4% | 16.7% | +7.7 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Software and other related revenue | $39.8M | $40.7M | −$899K | -2% |
| Proprietary payments revenue | $13.3M | $14.5M | −$1.2M | -8% |
| Revenue | $53.1M | $57.5M | −$4.5M | -8% |
| Other income, net | $7.9M | −$1.1M | $8.9M | — |
| Costs & expenses | $60.9M | $57.5M | $3.4M | +6% |
| Operating costs | $54.0M | $53.8M | $184K | +0.3% |
| Income tax | $1.3M | $478K | $835K | +175% |
| Net earnings | $5.7M | $2.2M | $3.5M | +158% |
| SG&A | $28.9M | $29.1M | −$200K | -0.7% |
| Other operating costs | $25.1M | $24.7M | $384K | +2% |
| Operating cash sources | $18.1M | $14.5M | $3.6M | +25% |
| Depreciation & amortization | $7.3M | $7.7M | −$354K | -5% |
| Share-based compensation | $5.1M | $4.6M | $517K | +11% |
| Working capital & other | $3.9M | $4.5M | −$607K | -14% |
| Operating cash flow | $14.3M | $10.0M | $4.2M | +42% |
| Free cash flow (OCF − capex) | $13.0M | $9.6M | $3.3M | +35% |
| Capital expenditures | $1.3M | $407K | $903K | +222% |
Questions
How much did i3 Verticals's revenue grow quarter over quarter in Q3 FY26?
i3 Verticals's revenue fell $4.5M (-8%) from $57.5M in Q2 FY26 to $53.1M in Q3 FY26.
What drove i3 Verticals's revenue change in Q3 FY26?
Proprietary payments revenue −$1.2M (-8%); Software and other related revenue −$899K (-2%).