$IIIV
i3 Verticals, Inc.

2020 Q1 Form 10-Q Financial Statement

#000172868820000045 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $39.18M $85.39M
YoY Change -54.12% 9.91%
Cost Of Revenue $0.00 $54.69M
YoY Change -100.0% 8.0%
Gross Profit $32.39M $24.26M
YoY Change 33.53% 15.37%
Gross Profit Margin 82.68% 28.41%
Selling, General & Admin $20.79M $14.32M
YoY Change 45.16% 40.42%
% of Gross Profit 64.17% 59.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.538M $3.898M
YoY Change 16.42% 29.07%
% of Gross Profit 14.01% 16.07%
Operating Expenses $20.79M $14.32M
YoY Change 45.16% 40.42%
Operating Profit $2.041M -$203.0K
YoY Change -1105.42% -107.82%
Interest Expense -$2.200M -$1.200M
YoY Change 83.33% -53.85%
% of Operating Profit -107.79%
Other Income/Expense, Net -$2.184M -$1.155M
YoY Change 89.09% -87.42%
Pretax Income -$143.0K -$1.358M
YoY Change -89.47% -79.38%
Income Tax -$2.062M -$136.0K
% Of Pretax Income
Net Earnings $737.0K -$1.102M
YoY Change -166.88% -83.88%
Net Earnings / Revenue 1.88% -1.29%
Basic Earnings Per Share $0.05 -$0.12
Diluted Earnings Per Share $0.05 -$0.12
COMMON SHARES
Basic Shares Outstanding 14.46M shares 8.887M shares
Diluted Shares Outstanding 16.11M shares 8.887M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.600M $1.400M
YoY Change 14.29% 75.0%
Cash & Equivalents $1.591M $1.393M
Short-Term Investments
Other Short-Term Assets $4.700M $3.600M
YoY Change 30.56% 9.09%
Inventory $1.662M $1.469M
Prepaid Expenses
Receivables $13.52M $11.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $19.77M $16.78M
YoY Change 17.8% 32.13%
LONG-TERM ASSETS
Property, Plant & Equipment $5.035M $3.055M
YoY Change 64.81% 45.48%
Goodwill $167.1M $104.7M
YoY Change 59.63% 30.21%
Intangibles $102.8M $82.66M
YoY Change 24.41%
Long-Term Investments
YoY Change
Other Assets $5.101M $3.644M
YoY Change 39.98% 7.18%
Total Long-Term Assets $331.4M $201.7M
YoY Change 64.3% 28.26%
TOTAL ASSETS
Total Short-Term Assets $19.77M $16.78M
Total Long-Term Assets $331.4M $201.7M
Total Assets $351.2M $218.5M
YoY Change 60.72% 28.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.520M $3.359M
YoY Change 4.79% 29.19%
Accrued Expenses $17.88M $15.59M
YoY Change 14.73% 8.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M
YoY Change 0.0%
Total Short-Term Liabilities $31.02M $28.80M
YoY Change 7.7% 13.38%
LONG-TERM LIABILITIES
Long-Term Debt $123.2M $70.24M
YoY Change 75.43% -45.04%
Other Long-Term Liabilities $4.385M $4.724M
YoY Change -7.18% -63.66%
Total Long-Term Liabilities $127.6M $74.97M
YoY Change 70.23% -46.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.02M $28.80M
Total Long-Term Liabilities $127.6M $74.97M
Total Liabilities $184.4M $103.8M
YoY Change 77.71% -37.57%
SHAREHOLDERS EQUITY
Retained Earnings -$1.016M -$188.0K
YoY Change 440.43%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.1M $41.10M
YoY Change
Total Liabilities & Shareholders Equity $351.2M $218.5M
YoY Change 60.72% 28.53%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $737.0K -$1.102M
YoY Change -166.88% -83.88%
Depreciation, Depletion And Amortization $4.538M $3.898M
YoY Change 16.42% 29.07%
Cash From Operating Activities $1.370M $5.350M
YoY Change -74.39% 43.82%
INVESTING ACTIVITIES
Capital Expenditures -$1.040M -$590.0K
YoY Change 76.27% -67.04%
Acquisitions
YoY Change
Other Investing Activities -$1.050M -$22.34M
YoY Change -95.3% 252.92%
Cash From Investing Activities -$2.100M -$22.92M
YoY Change -90.84% 182.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.650M 18.07M
YoY Change -90.87% 437.8%
NET CHANGE
Cash From Operating Activities 1.370M 5.350M
Cash From Investing Activities -2.100M -22.92M
Cash From Financing Activities 1.650M 18.07M
Net Change In Cash 920.0K 500.0K
YoY Change 84.0% -148.08%
FREE CASH FLOW
Cash From Operating Activities $1.370M $5.350M
Capital Expenditures -$1.040M -$590.0K
Free Cash Flow $2.410M $5.940M
YoY Change -59.43% 7.8%

Facts In Submission

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iiiv Amortization Of Capitalized Customer Acquisition Costs
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Deferred Income Taxes And Tax Credits
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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852000 USD
us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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11424000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments For Software
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Other Productive Assets
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45000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Proceeds From Convertible Debt
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us-gaap Proceeds From Issuance Of Warrants
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us-gaap Repayments Of Bank Debt
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us-gaap Repayments Of Bank Debt
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2500000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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2059000 USD
us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Paid
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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34343000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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822000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Net
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3281000 USD
us-gaap Interest Paid Net
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1557000 USD
us-gaap Income Taxes Paid
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262000 USD
us-gaap Income Taxes Paid
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CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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1119000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
572000 USD
CY2019Q3 us-gaap Restricted Cash
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CY2018Q3 us-gaap Restricted Cash
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665000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3200000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1237000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1591000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1393000 USD
CY2020Q1 us-gaap Restricted Cash
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1581000 USD
CY2019Q1 us-gaap Restricted Cash
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3172000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2059000 USD
us-gaap Nature Of Operations
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ORGANIZATION AND OPERATIONS<div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">i3 Verticals, Inc. (the “Company”) was formed as a Delaware corporation on January 17, 2018. The Company was formed for the purpose of completing an initial public offering (“IPO”) of its Class A common stock and other related transactions in order to carry on the business of i3 Verticals, LLC and its subsidiaries. i3 Verticals, LLC was founded in 2012 and delivers seamlessly integrated payment and software solutions to small- and medium-sized businesses (“SMBs”) and organizations in strategic vertical markets. The Company’s headquarters are located in Nashville, Tennessee, with operations throughout the United States. Unless the context otherwise requires, references to “we,” “us,” “our,” “i3 Verticals” and the “Company” refer to i3 Verticals, Inc. and its subsidiaries, including i3 Verticals, LLC.</span></div><div style="margin-bottom:4pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Initial Public Offering</span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On June 25, 2018, the Company completed the IPO of 7,647,500 shares of its Class A common stock at a public offering price of $13.00 per share. The Company received approximately $92.5 million of net proceeds, after deducting underwriting discounts and commissions, which the Company used to purchase newly issued common units from i3 Verticals, LLC (the “Common Units”), and Common Units from a selling Common Unit holder, in each case at a price per Common Unit equal to the price per share paid by the underwriters for shares of the Company's Class A common stock in the IPO. </span></div><div style="margin-bottom:4pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Reorganization Transactions</span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In connection with the IPO, the Company completed the following transactions (the “Reorganization Transactions”):</span></div><div style="text-indent:-18pt;padding-left:36pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">i3 Verticals, LLC amended and restated its existing limited liability company agreement to, among other things, (1) convert all existing Class A units, common units (including common units issued upon the exercise of existing warrants) and Class P units of ownership interest in i3 Verticals, LLC into either Class A voting common units of i3 Verticals, LLC (such holders of Class A voting common units referred to herein as the “Continuing Equity Owners”) or Class B non-voting common units of i3 Verticals, LLC (such holders of Class B non-voting common units referred to herein as the “Former Equity Owners”), and (2) appoint i3 Verticals, Inc. as the sole managing member of i3 Verticals, LLC upon its acquisition of Common Units in connection with the IPO;</span></div><div style="text-indent:-18pt;padding-left:36pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">the Company amended and restated its certificate of incorporation to provide for, among other things, Class A common stock and Class B common stock;</span></div><div style="text-indent:-18pt;padding-left:36pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">i3 Verticals, LLC and the Company consummated a merger among i3 Verticals, LLC, i3 Verticals, Inc. and a newly formed wholly-owned subsidiary of i3 Verticals, Inc. (“MergerSub”) whereby: (1) MergerSub merged with and into i3 Verticals, LLC, with i3 Verticals, LLC as the surviving entity; (2) Class A voting common units converted into newly issued Common Units in i3 Verticals, LLC together with an equal number of shares of Class B common stock of i3 Verticals, Inc., and (3) Class B non-voting common units converted into Class A common stock of i3 Verticals, Inc. based on a conversion ratio that provided an equitable adjustment to reflect the full value of the Class B non-voting common units; and</span></div><div style="text-indent:-18pt;padding-left:36pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">the Company issued shares of its Class A common stock pursuant to a voluntary private conversion of certain subordinated notes by certain related and unrelated creditors of i3 Verticals, LLC.</span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Following the completion of the IPO and Reorganization Transactions, the Company became a holding company and its principal asset is the Common Units in i3 Verticals, LLC that it owns. i3 Verticals, Inc. operates and controls all of i3 Verticals, LLC's operations and, through i3 Verticals, LLC and its subsidiaries, conducts i3 Verticals, LLC's business. i3 Verticals, Inc. has a minority economic interest in i3 Verticals, LLC. </span></div><div style="margin-bottom:4pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Public Offering</span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On June 10, 2019, the Company completed a secondary public offering (the “June 2019 Secondary Public Offering”) of 5,165,527 shares of its Class A common stock, at a public offering price of $22.75 per share, which included a full exercise of the underwriters' option to purchase 673,764 additional shares of Class A common stock from the Company. The Company received approximately $111,640 of net proceeds, after deducting underwriting discounts and commissions, but before offering expenses. The Company used the net proceeds to purchase (1) 1,000,000 Common Units directly from i3 Verticals, LLC, and (2) 4,165,527 Common Units (including 673,764 Common Units due to the exercise of the underwriters' option to purchase additional shares in full) and an equivalent number of Class B common stock (which shares were then canceled) from certain Continuing Equity Owners, in each case at a price per Common Unit equal to the price per share paid by the underwriters for shares of our Class A common stock in the offering. i3 Verticals, LLC received $20,870 in net proceeds from the sale of Common Units to the Company, which it used to repay outstanding indebtedness. </span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">i3 Verticals, Inc. is the sole managing member of i3 Verticals, LLC and as a result, consolidates the financial results of i3 Verticals, LLC and reports a non-controlling interest representing the Common Units of i3 Verticals, LLC held by the Continuing Equity Owners. </span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">As the Reorganization Transactions are considered transactions between entities under common control, the financial statements retroactively reflect the accounts of i3 Verticals, LLC for periods prior to the IPO and Reorganization Transactions.</span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Continuing Equity Owners who own Common Units in i3 Verticals, LLC may redeem at each of their options (subject in certain circumstances to time-based vesting requirements) their Common Units for, at the election of i3 Verticals, LLC, cash or newly-issued shares of the Company's Class A common stock. </span></div>As of March 31, 2020, i3 Verticals, Inc. owned 54.8% of the economic interest in i3 Verticals, LLC. As of March 31, 2020, the Continuing Equity Owners owned Common Units in i3 Verticals, LLC representing approximately 45.2% of the economic interest in i3 Verticals, LLC, shares of Class A common stock in the Company representing approximately 0.8% of the economic interest and voting power in the Company, and shares of Class B common stock in i3 Verticals, Inc., representing approximately 45.2% of the voting power in the Company. Combining the Class A common stock and Class B common stock, the Continuing Equity Owners hold approximately 46.0% of the economic interest and voting power in i3 Verticals, Inc.
CY2020Q1 us-gaap Inventory Net
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1662000 USD
CY2019Q3 us-gaap Inventory Net
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1294000 USD
CY2020Q1 us-gaap Notes Receivable Fair Value Disclosure
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1195000 USD
CY2019Q3 us-gaap Notes Receivable Fair Value Disclosure
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195000 USD
us-gaap Number Of Businesses Acquired
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0 business
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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39178000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
85394000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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80289000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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170262000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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39178000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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85394000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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80289000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
170262000 USD
CY2019Q3 us-gaap Contract With Customer Liability
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CY2019Q4 us-gaap Increase Decrease In Contract With Customer Liability
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CY2019Q4 us-gaap Contract With Customer Liability Revenue Recognized
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5211000 USD
CY2019Q4 us-gaap Contract With Customer Liability
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10415000 USD
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Liability
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5004000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
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5753000 USD
CY2020Q1 us-gaap Contract With Customer Liability
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CY2020Q1 us-gaap Capitalized Contract Cost Gross
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2830000 USD
us-gaap Use Of Estimates
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<div style="margin-top:6pt;margin-bottom:4pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">Use of Estimates </span></div><div style="text-indent:18pt;margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, the value of purchase consideration paid and identifiable assets acquired and assumed in acquisitions, goodwill and intangible asset impairment review, determination of performance obligations for revenue recognition, loss reserves, assumptions used in the calculation of equity-based compensation and in the calculation of income taxes, and certain tax assets and liabilities as well as the related valuation allowances. The uncertainty surrounding estimates is increased due to the recent development of COVID-19, which is further described in Note 15. There could be material changes to these estimates as a result of COVID-19 developments in future periods. Actual results could differ from those estimates. </span></div>During the second quarter of fiscal year 2020, the Company has recorded a $2,668 reduction in the valuation allowance on the deferred tax asset related to the Company’s investment in partnership and a corresponding reduction in the Company's income tax expense in the three months ended March 31, 2020. Management has determined an additional portion of the deferred tax asset will be more likely than not realized based off an evaluation of the four sources of taxable income.
us-gaap Allocated Share Based Compensation Expense
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80289000 USD
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CY2020Q1 us-gaap Minority Interest
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CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
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4561000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
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5452000 USD
CY2019Q3 iiiv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Settlement Assets
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18000 USD
CY2019Q3 iiiv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Related Party Receivables
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CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
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106000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
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542000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
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CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
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2624000 USD
CY2019Q3 iiiv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets Acquired Including Goodwill
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161798000 USD
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1091000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
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2340000 USD
CY2019Q3 iiiv Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Settlement Obligation
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18000 USD
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2722000 USD
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154940000 USD
CY2019Q3 us-gaap Goodwill
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CY2020Q1 us-gaap Goodwill
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CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
52772000 USD
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FiniteLivedIntangibleAssetsNet
102801000 USD
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155609000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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102837000 USD
us-gaap Amortization Of Intangible Assets
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3088000 USD
us-gaap Amortization Of Intangible Assets
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6282000 USD
us-gaap Amortization Of Intangible Assets
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3019000 USD
CY2017 us-gaap Amortization Of Intangible Assets
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5821000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5946000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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10778000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9633000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8583000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
7972000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
59889000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
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102801000 USD
CY2020Q1 us-gaap Deferred Finance Costs Net
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CY2019Q3 us-gaap Deferred Finance Costs Net
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1846000 USD
CY2020Q1 us-gaap Long Term Debt
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CY2019Q3 us-gaap Long Term Debt
LongTermDebt
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CY2020Q1 us-gaap Convertible Debt Fair Value Disclosures
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107469000 USD
CY2020Q1 us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
28676000 USD
iiiv Debt Issuance Costs Incurred In Period
DebtIssuanceCostsIncurredInPeriod
152000 USD
CY2020Q1 iiiv Debt Issuance Costs Incurred In Period
DebtIssuanceCostsIncurredInPeriod
152000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
141000 USD
CY2020Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
141000 USD
CY2020Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
4245000 USD
CY2020Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
172000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
272000 USD
CY2019Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
232000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
465000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2062000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1913000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-136000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
129000 USD
CY2018Q2 iiiv Tax Receivable Agreement Percent Of Tax Benefits Payable To Continuing Equity Owners
TaxReceivableAgreementPercentOfTaxBenefitsPayableToContinuingEquityOwners
0.85
CY2018Q2 iiiv Tax Receivable Agreement Percent Of Tax Benefits Retained
TaxReceivableAgreementPercentOfTaxBenefitsRetained
0.15
iiiv Increase Decrease In Deferred Tax Assets Net
IncreaseDecreaseInDeferredTaxAssetsNet
3086000 USD
iiiv Increase Decrease In Tax Receivable Agreement Liability
IncreaseDecreaseInTaxReceivableAgreementLiability
2623000 USD
iiiv Period Of Payment To Continuing Equity Owners
PeriodOfPaymentToContinuingEquityOwners
P25Y
CY2020Q1 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
107469000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
193000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
341000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.33
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
30.99
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.11
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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39331 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
22.12
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5128655 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.58
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5128655 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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911560 shares
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
21484000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1477000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3228000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
675000 USD
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1416000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
532000 USD
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1025000 USD
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1290000 USD
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2642000 USD
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2299000 USD
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2165000 USD
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1659000 USD
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
3835000 USD
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
13890000 USD
CY2020Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
1625000 USD
CY2020Q1 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
3213000 USD
CY2020Q1 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
2780000 USD
CY2020Q1 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
2645000 USD
CY2020Q1 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
450000 USD
CY2020Q1 us-gaap Purchase Obligation Due After Fifth Year
PurchaseObligationDueAfterFifthYear
0 USD
CY2020Q1 us-gaap Purchase Obligation
PurchaseObligation
10713000 USD
CY2018Q2 iiiv Tax Receivable Agreement Percent Of Tax Benefits Payable To Continuing Equity Owners
TaxReceivableAgreementPercentOfTaxBenefitsPayableToContinuingEquityOwners
0.85
CY2020Q1 us-gaap Goodwill
Goodwill
167054000 USD
us-gaap Gross Profit
GrossProfit
47347000 USD
CY2019Q1 us-gaap Assets
Assets
218499000 USD
CY2020Q1 us-gaap Revenues
Revenues
39178000 USD
CY2020Q1 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
11955000 USD
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20786000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4538000 USD
CY2020Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-142000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2041000 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
32393000 USD
CY2020Q1 us-gaap Assets
Assets
351182000 USD
CY2020Q1 us-gaap Goodwill
Goodwill
167054000 USD
us-gaap Revenues
Revenues
80289000 USD
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
24873000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
40073000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9193000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
12000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6138000 USD
us-gaap Gross Profit
GrossProfit
65890000 USD
CY2020Q1 us-gaap Assets
Assets
351182000 USD
CY2019Q1 us-gaap Revenues
Revenues
85394000 USD
CY2019Q1 us-gaap Revenues
Revenues
85394000 USD
CY2019Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
54685000 USD
CY2019Q1 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
10193000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14319000 USD
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3898000 USD
CY2019Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
2502000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-203000 USD
CY2019Q1 us-gaap Gross Profit
GrossProfit
24259000 USD
CY2019Q1 us-gaap Assets
Assets
218499000 USD
CY2019Q1 us-gaap Goodwill
Goodwill
104651000 USD
us-gaap Revenues
Revenues
170262000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
110514000 USD
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
19983000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
26835000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7450000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
2153000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
3327000 USD
CY2019Q1 us-gaap Goodwill
Goodwill
104651000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14344768 shares
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
4605000 USD
us-gaap Line Of Credit Assumed1
LineOfCreditAssumed1
270000 USD
us-gaap Line Of Credit Assumed1
LineOfCreditAssumed1
0 USD

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