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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Additional Paid-In Capital
Retained Earnings (Deficit)
Non-Controlling Interest
Class A Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Class B Common Stock
Common Stock
Beginning balance, outstanding (in shares) at Sep. 30, 2023           23,253,272   10,093,394
Beginning balance, outstanding at Sep. 30, 2023 $ 328,296 $ 249,688 $ (12,944) $ 91,549   $ 2   $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 6,508 6,508            
Net (loss) income 1,536   1,098 438        
Exercise of equity-based awards (in shares)           25,898    
Exercise of equity-based awards (10) (10)            
Sale of exchangeable note hedges 1,483 1,483            
Repurchases of warrants (657) (657)            
Allocation of equity to non-controlling interests 0 (2,450)   2,450        
Ending balance, outstanding (in shares) at Dec. 31, 2023           23,279,170   10,093,394
Ending balance, outstanding at Dec. 31, 2023 337,156 254,562 (11,846) 94,437   $ 2   $ 1
Beginning balance, outstanding (in shares) at Sep. 30, 2023           23,253,272   10,093,394
Beginning balance, outstanding at Sep. 30, 2023 328,296 249,688 (12,944) 91,549   $ 2   $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income 4,884              
Adjustments to accrued distributions to non-controlling interest holders 0              
Ending balance, outstanding (in shares) at Mar. 31, 2024           23,416,518   10,052,676
Ending balance, outstanding at Mar. 31, 2024 346,100 259,242 (9,968) 96,823   $ 2   $ 1
Beginning balance, outstanding (in shares) at Dec. 31, 2023           23,279,170   10,093,394
Beginning balance, outstanding at Dec. 31, 2023 337,156 254,562 (11,846) 94,437   $ 2   $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 5,777 5,777            
Net (loss) income 3,348   1,878 1,470        
Redemption of common units in i3 Verticals, LLC (in shares)           40,718   (40,718)
Redemption of common units in i3 Verticals, LLC   384   (384)        
Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis (42) (42)            
Exercise of equity-based awards (in shares)           96,630    
Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis 42 42            
Exercise of equity-based awards (223) (223)            
Allocation of equity to non-controlling interests   (1,300)   1,300        
Ending balance, outstanding (in shares) at Mar. 31, 2024           23,416,518   10,052,676
Ending balance, outstanding at Mar. 31, 2024 346,100 259,242 (9,968) 96,823   $ 2   $ 1
Beginning balance, outstanding (in shares) at Sep. 30, 2024         23,882,035 23,882,035 10,032,676 10,032,676
Beginning balance, outstanding at Sep. 30, 2024 515,359 279,335 100,397 135,624   $ 2   $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 3,814 3,814            
Net (loss) income 3,108   2,056 1,052        
Redemption of common units in i3 Verticals, LLC (in shares)           17,577   (17,577)
Redemption of common units in i3 Verticals, LLC 0 237   (237)        
Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis (14) (14)            
Exercise of equity-based awards (in shares)           34,423    
Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis 14 14            
Exercise of equity-based awards 29 29            
Repurchases of Class A common stock (in shares)           (496,785)    
Repurchases of Class A common stock (11,190) (11,190)            
Allocation of equity to non-controlling interests 0 293   (293)        
Ending balance, outstanding (in shares) at Dec. 31, 2024           23,437,250   10,015,099
Ending balance, outstanding at Dec. 31, 2024 511,134 272,532 102,453 136,146   $ 2   $ 1
Beginning balance, outstanding (in shares) at Sep. 30, 2024         23,882,035 23,882,035 10,032,676 10,032,676
Beginning balance, outstanding at Sep. 30, 2024 515,359 279,335 100,397 135,624   $ 2   $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income 3,877              
Adjustments to accrued distributions to non-controlling interest holders $ 283              
Redemption of common units in i3 Verticals, LLC (in shares)           831,359    
Exercise of equity-based awards (in shares) 400,965              
Ending balance, outstanding (in shares) at Mar. 31, 2025         24,386,990 24,386,990 8,832,061 8,832,061
Ending balance, outstanding at Mar. 31, 2025 $ 513,659 282,872 102,299 128,485   $ 2   $ 1
Beginning balance, outstanding (in shares) at Dec. 31, 2024           23,437,250   10,015,099
Beginning balance, outstanding at Dec. 31, 2024 511,134 272,532 102,453 136,146   $ 2   $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 3,932 3,932            
Net (loss) income 769   (154) 923        
Adjustments to accrued distributions to non-controlling interest holders 283     283        
Redemption of common units in i3 Verticals, LLC (in shares)           813,782   (813,782)
Redemption of common units in i3 Verticals, LLC   11,493   (11,493)        
Recapitalization from contribution to i3 Verticals, LLC (in shares)               (369,256)
Recapitalization from contribution to i3 Verticals, LLC   5,689   (5,689)        
Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis 143 143            
Exercise of equity-based awards (in shares)           149,328    
Establishment of liabilities under a tax receivable agreement and related changes to deferred tax assets associated with increases in tax basis (143) (143)            
Exercise of equity-based awards (2,179) (2,179)            
Repurchases of Class A common stock (in shares)           (13,370)    
Repurchases of Class A common stock (423) (423)            
Allocation of equity to non-controlling interests   3,063   (3,063)        
Ending balance, outstanding (in shares) at Mar. 31, 2025         24,386,990 24,386,990 8,832,061 8,832,061
Ending balance, outstanding at Mar. 31, 2025 $ 513,659 $ 282,872 $ 102,299 $ 128,485   $ 2   $ 1