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NON-CONTROLLING INTEREST | 6 Months Ended
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Mar. 31, 2025
Noncontrolling Interest [Abstract] |
NON-CONTROLLING INTEREST | NON-CONTROLLING INTEREST i3 Verticals, Inc. is the sole managing member of i3 Verticals, LLC, and as a result, consolidates the financial results of i3 Verticals, LLC and reports a non-controlling interest representing the Common Units of i3 Verticals, LLC held by the Continuing Equity Owners. Changes in i3 Verticals, Inc.’s ownership interest in i3 Verticals, LLC while i3 Verticals, Inc. retains its controlling interest in i3 Verticals, LLC will be accounted for as equity transactions. As such, future redemptions or direct exchanges of Common Units of i3 Verticals, LLC by the Continuing Equity Owners will result in a change in ownership and reduce or increase the amount recorded as non-controlling interest and increase or decrease additional paid-in capital when i3 Verticals, LLC has positive or negative net assets, respectively. As of March 31, 2025 and 2024, respectively, i3 Verticals, Inc. owned 24,386,990 and 23,416,518 of i3 Verticals, LLC's Common Units, representing a 73.4% and 70.0% economic ownership interest in i3 Verticals, LLC. The following table summarizes the impact on equity due to changes in the Company's ownership interest in i3 Verticals, LLC:
| Six Months Ended March 31,
| 2025 |  | 2024
Net income attributable to non-controlling interest | $ | 1,975 |  |  | $ | 1,908 |
Transfers (from) to non-controlling interests: |  |  |
Distributions to non-controlling interest holders | 283 |  |  | — |
Redemption of common units in i3 Verticals, LLC | (11,730) |  |  | (384) |
Recapitalization from contribution to i3 Verticals, LLC | 5,689 |  |  | — |
Allocation of equity (from) to non-controlling interests | (3,356) |  |  | 3,750 |
Net transfers (from) to non-controlling interests | (9,114) |  |  | 3,366 |
Change from net income attributable to non-controlling interests and net transfers to non-controlling interests | $ | (7,139) |  |  | $ | 5,274 |
See Note 15 for information regarding certain recapitalization actions the Company and i3 Verticals, LLC effected during the three months ended March 31, 2025 in order to reduce excess cash held at the Company as a result of its “Up-C” structure, which adjusted the Company’s and the Continuing Equity Holders’ respective ownership interests in i3 Verticals, LLC.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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- References No definition available. + Details
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