XML 43 R31.htm IDEA: XBRL DOCUMENT v3.25.1
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations The following table presents financial results of Merchant Services Business for the three and six months ended March 31, 2025 and 2024:
Three months ended March 31,Six months ended March 31,
2025202420252024
Revenue$— $36,574 $— $73,510 
Operating expenses
Other costs of services— 16,477 — 32,786 
Selling, general and administrative— 10,286 — 21,180 
Depreciation and amortization— 2,876 — 5,561 
Total operating expenses— 29,639 — 59,527 
Income from operations— 6,935 — 13,983 
Other expenses
Interest expense, net— 36 — 56 
Other expense404 — 657 — 
Total other expenses404 36 657 56 
(Loss) income before income taxes from discontinued operations(404)6,899 (657)13,927 
(Benefit from) provision for income taxes(78)1,249 (117)2,526 
Net (loss) income from discontinued operations(326)5,650 (540)11,401 
Net (loss) income from discontinued operations attributed to non-controlling interest(99)2,063 (175)3,831 
Net (loss) income from discontinued operations attributable to i3 Verticals, Inc.$(227)$3,587 $(365)$7,570 
The Company has elected to not separately disclose discontinued operations on its condensed consolidated statement of cash flows. The Company had no significant cash flow activity pertaining to discontinued operations in the three and six months ended March 31, 2025. The following table presents cash flows from discontinued operations for major captions on the condensed consolidated financial statements:
Six months ended March 31,
20252024
Depreciation and amortization$— $5,561 
Equity-based compensation$— $1,905 
Amortization of capitalized customer acquisition costs$— $430 
Adjustments to loss (gain) on sale of Merchant Services Business
$657 $— 
Non-cash lease expense$— $536 
Expenditures for property and equipment$— $(386)
Expenditures for capitalized software$— $(414)
Purchases of merchant portfolios and residual buyouts$— $(4,214)
The following table presents significant non-cash investing and financing activities for major captions on the consolidated financial statements:
Six months ended March 31, 2024
Consideration accrued for December 2023 residual buyout$252 
Right-of-use assets obtained in exchange for operating lease obligations$742