i3 Verticals, Inc. (IIIV) Tops Q1 EPS by 1c

i3 Verticals, Inc. (NASDAQ: IIIV) reported Q1 EPS of $0.22, $0.01 better than the analyst estimate of $0.21. Revenue for the quarter came in at $43.3 million versus the consensus estimate of $41.13 million.

Greg Daily, Chairman and CEO of i3 Verticals, commented, “We are pleased with our first quarter results. Our execution of our M&A strategy has driven our transformation into a software-led company. Software-related revenues have grown from 12% of our adjusted net revenue in the first quarter of fiscal 2018 to 36% of our adjusted net revenue during the first quarter of fiscal 2021. We are focused on expanding in this area. Our financial results continued to improve, despite the effects of COVID-19 related restrictions that were reinstituted during the holiday season, which slowed the progress of our payment volume recovery during the quarter. Several early 2021 trends will aid the recovery of our business, including a return to in-person schooling, additional financial stimulus and the deployment of vaccines. We are confident in our ability to deliver solid financial results in 2021.

“Last week we announced our largest acquisition to date, BIS. The acquisition significantly expands our Public Sector vertical, which now represents almost half of our adjusted net revenue. Our product suite now allows us to approach the Public Sector vertical at multiple levels — from the individual court-level to the statewide level — and we are excited to deliver valuable solutions to our customers we expect to generate continued growth at i3,” concluded Daily.

GUIDANCE:

Sees FY EPS of $0.93-$1.06, versus the consensus of $1.23. Sees FY revenues of $198-$214 million, versus the consensus of $200.44 million.

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
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
• Movano (MOVE) Misses Q2 EPS by 195c