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Earnings Per Share (Tables) | 12 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Schedule of Reconciliations of the Numerators and Denominators Used to Compute Basic and Diluted Earnings Per Share | The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:
| Year ended September 30,
| 2023 |  | 2022 |  | 2021
Basic net loss per share: |  |  |  |  |
Numerator |  |  |  |  |
Net loss | $ | (2,652) |  |  | $ | (23,217) |  |  | $ | (7,839) |
Less: Net loss attributable to non-controlling interests | (1,841) |  |  | (6,115) |  |  | (3,382) |
Net loss attributable to Class A common stockholders | $ | (811) |  |  | $ | (17,102) |  |  | $ | (4,457) |
Denominator |  |  |  |  |
Weighted average shares of Class A common stock outstanding(1) | 23,137,586 |  |  | 22,249,656 |  |  | 20,994,598 |
Basic net loss per share(2) | $ | (0.04) |  |  | $ | (0.77) |  |  | $ | (0.21) |
Dilutive net loss per share(4): |  |  |  |  |
Numerator |  |  |  |  |
Net loss attributable to Class A common stockholders | $ | (811) |  |  |  |  | $ | (4,457) |
Reallocation of net loss assuming conversion of common units(5) | (1,391) |  |  |  |  | (2,556) |
Net loss attributable to Class A common stockholders - diluted | $ | (2,202) |  |  |  |  | $ | (7,013) |
Denominator |  |  |  |  |
Weighted average shares of Class A common stock outstanding(1) | 23,137,586 |  |  |  |  | 20,994,598 |
Weighted average effect of dilutive securities(2)(3)(4) | 10,109,247 |  |  |  |  | 10,719,593 |
Weighted average shares of Class A common stock outstanding - diluted | 33,246,833 |  |  |  |  | 31,714,191 |
Diluted net loss per share | $ | (0.07) |  |  |  |  | $ | (0.22) |
____________________ 1.Excludes 6,706 shares of restricted Class A common stock for the year ended September 30, 2021. 2.For the year ended September 30, 2021, the following securities were excluded from the weighted average effect of dilutive securities in the computation of diluted earnings per share of Class A common stock: a.2,495,922 options to purchase shares of Class A common stock for the year ended September 30, 2021, were excluded because the exercise price of these options exceeded the average market price of our Class A common stock during the period (“out-of-the-money”) and the effect of including them would have been anti-dilutive, and b.1,471,027 shares of Class A common stock for the year ended September 30, 2021, resulting from estimated stock option exercises as calculated by the treasury stock method, and 6,706 shares of restricted Class A common stock for the year ended September 30, 2021 were excluded because the effect of including them would have been anti-dilutive. 3.For the year ended September 30, 2022, all potentially dilutive securities were anti-dilutive, so diluted net loss per share was equivalent to basic net loss per share. The following securities were excluded from the weighted average effect of dilutive securities in the computation of diluted earnings per share of Class A common stock: a.10,170,668 shares of weighted average Class A common stock for the year ended September 30, 2022, along with the reallocation of net income assuming conversion of these shares, were excluded because the effect would have been anti-dilutive, b.4,580,844 options to purchase shares of Class A common stock for the year ended September 30, 2022, were excluded because the exercise price of these options exceeded the average market price of our Class A common stock during the period (“out-of-the-money”) and the effect of including them would have been anti-dilutive, and c.679,858 shares of Class A common stock for the year ended September 30, 2022, resulting from estimated stock option exercises as calculated by the treasury stock method were excluded because the effect of including them would have been anti-dilutive. 4.For the year ended September 30, 2023, the following securities were excluded from the weighted average effect of dilutive securities in the computation of diluted earnings per share of Class A common stock: a.5,580,144 options to purchase shares of Class A common stock for the year ended September 30, 2023, were excluded because the exercise price of these options exceeded the average market price of our Class A common stock during the period (“out-of-the-money”) and the effect of including them would have been anti-dilutive. b.723,898 shares of Class A common stock for the year ended September 30, 2023, resulting from estimated stock option exercises and restricted stock units vesting as calculated by the treasury stock method were excluded because of the effect of including them would have been anti-dilutive. 5.The reallocation of net income assuming conversion of common units represents the tax effected net income attributable to non-controlling interest using the effective income tax rates described in Note 11 above and assuming all common units of i3 Verticals, LLC were exchanged for Class A common stock at the beginning of the year. The common units of i3 Verticals, LLC held by the Continuing Equity Owners are potentially dilutive securities, and the computations of pro forma diluted net income per share assume that all common units of i3 Verticals, LLC were exchanged for shares of Class A common stock at the beginning of the year.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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