i3 Verticals, Inc. (IIIV) Tops Q2 EPS by 2c; Not Providing Guidance

i3 Verticals, Inc. (NASDAQ: IIIV) reported Q2 EPS of $0.20, $0.02 better than the analyst estimate of $0.18. Revenue for the quarter came in at $39.2 million versus the consensus estimate of $35.38 million.

Greg Daily, Chairman and CEO of i3 Verticals, commented, “We delivered strong fiscal second quarter results. Our momentum from the fiscal first quarter continued through January and February, but we began to see the economic impact of the COVID‑19 pandemic in the second half of March with a decline in payment volume. I could not be prouder of our employees’ response to the crisis as they rallied to serve our customers. Our support teams utilized our advanced platforms to quickly shift to remote support and provided uninterrupted service to our customers.

“Due to the uncertainty of the economic environment, we have paused acquisition activity until there is greater clarity on the impact of the COVID-19 pandemic. We have several deals currently on hold. Despite the market downturn, our acquisition pipeline has continued to build. We believe our strong balance sheet, recent exchangeable notes offering and capacity under our senior credit facility position us well for acquisition activity, even in the current economic environment.”

GUIDANCE:

The COVID-19 pandemic has created significant uncertainty in the economy and the extent to which COVID-19 will impact the Company\'s future results is difficult to reasonably estimate at this time. Therefore, the Company is not providing a financial outlook for the fiscal year ending September 30, 2020.

For earnings history and earnings-related data on i3 Verticals, Inc. (IIIV) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Edible Garden AG (EDBL) Reports Q2 Loss of $18.79
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c