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Companies / Technology / i3 Verticals, Inc.
IIIV

i3 Verticals, Inc.

TechnologyPrepackaged Software
Ticker IIIVNASHVILLE, TNFiscal year ends SeptemberBook value per share $12.59Diluted shares 22.3M

i3 Verticals, Inc. (Nasdaq: IIIV) is a mission-critical enterprise software provider serving public sector entities across the United States and Canada. The company's website is www.i3verticals.com. From the company’s description.

Fiscal year 2025 · ends 09-30Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$213.16M
−7.3% year over year
Last 12 mo $218.16M
1.77%
−1.2 percentage points
Last 12 mo 2.72%
$26.50M
−84.9% year over year
Last 12 mo $13.00M
4.59%
−25.3 percentage points
Last 12 mo 3.04%
Cash & financing
$5.69M
−88.2% year over year
Last 12 mo $52.38M
$-4.44M
−113.3% year over year
Last 12 mo $41.50M
0.00
Was 0.07× a year earlier
Last 12 mo 0.41
34.2M
−40.3% year over year
Last 12 mo 22.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What i3 Verticals, Inc. does

In the company’s own words

i3 Verticals, Inc. (Nasdaq: IIIV) is a mission-critical enterprise software provider serving public sector entities across the United States and Canada. The company's website is www.i3verticals.com.

i3 Verticals delivers comprehensive cloud-native software solutions that enable state and local governments and related agencies to perform their functions and serve constituents effectively and efficiently. The company operates as a single reportable segment focused entirely on the public sector vertical market, with approximately 76% of revenue from continuing operations derived from recurring sources. The company maintains thousands of software installations across all 50 states and Canada, positioning itself as a leader in public sector software solutions.

The company's product portfolio spans five primary markets. JusticeTech solutions include fully integrated digital platforms for court systems, e-filing, revenue cycle management, computer-aided dispatch, records management, evidence management, and jail management. Utilities offerings encompass digital customer engagement platforms and billing and back-office management software. Public Administration products include government fund accounting software, digital land records solutions with AI indexing, computer-assisted mass appraisal systems, licensing and permitting solutions, and tax and revenue collection management tools. Education solutions provide comprehensive school lunch program management and school event solutions including ticketing and concessions. Transportation products include vehicle title and registration software, driver's license and permit management systems, and motor carrier compliance tools.

i3 Verticals integrates proprietary payment facilitation technology throughout its software solutions, enabling customers to process court, tax, registration, utility, school, and other payments seamlessly. The company employs approximately 1,202 people across 49 states and two countries as of November 2025, with 48% working in 21 offices and 52% in fully remote or hybrid arrangements.

The company recently completed significant portfolio restructuring, divesting its Merchant Services Business in September 2024 and its Healthcare Revenue Cycle Management Business in May 2025, allowing it to focus entirely on public sector software solutions. i3 Verticals operates on a cloud-first strategy utilizing Amazon Web Services and Microsoft Azure infrastructure, emphasizing agile development, scalable platforms, and centralized cybersecurity measures to deliver secure, modern solutions to government customers.

Company details
Sector
Technology
Industry
Prepackaged Software
Headquarters
NASHVILLE, TN
Fiscal year end
September
CIK
1728688
SIC
7372

Financial performance, year by year

Fiscal 2018–2025 · USD
$-63.17M$56.69M$176.55M$296.40M$416.26M20182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns i3 Verticals, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

167
funds hold it
0 of 35
superinvestors hold it
$175.62M
held by funds, at market
45.1%
of shares held by funds

Largest fund holders · i3 Verticals, Inc.’s weight in each

Heartland Value Fund
HRTVX · HEARTLAND GROUP INC.
1.55%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.01%of fund net assets
0.01%of fund net assets
Nationwide Geneva Small Cap Growth Fund
NWHZX · Nationwide Mutual Funds
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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