$IIIV
i3 Verticals, Inc. Stock $iiiv

$iiiv Overview Financials Valuation SEC Filings Company Website

2020 Q4 Form 10-Q Financial Statement

#000172868821000030 Filed on February 09, 2021

Income Statement

Concept	2020 Q4	2019 Q4
Revenue	$44.62M	$41.11M
YoY Change	8.54%	-51.56%
Cost Of Revenue	$13.70M	$0.00
YoY Change		-100.0%
Gross Profit	$36.73M	$33.50M
YoY Change	9.65%	45.08%
Gross Profit Margin	82.32%	81.48%
Selling, General & Admin	$24.96M	$19.29M
YoY Change	29.42%	54.1%
% of Gross Profit	67.96%	57.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$5.092M	$4.655M
YoY Change	9.39%	31.05%
% of Gross Profit	13.86%	13.9%
Operating Expenses	$24.96M	$19.29M
YoY Change	29.42%	54.1%
Operating Profit	-$1.003M	$4.097M
YoY Change	-124.48%	16.06%
Interest Expense	-$2.000M	-$2.000M
YoY Change	0.0%	122.22%
% of Operating Profit		-48.82%
Other Income/Expense, Net
YoY Change
Pretax Income	-$3.032M	$2.083M
YoY Change	-245.56%	-20.37%
Income Tax	-$10.00K	$149.0K
% Of Pretax Income		7.15%
Net Earnings	-$1.998M	-$149.0K
YoY Change	1240.94%	-183.71%
Net Earnings / Revenue	-4.48%	-0.36%
Basic Earnings Per Share	-$0.10	-$0.01
Diluted Earnings Per Share	-$0.10	-$0.01
COMMON SHARES
Basic Shares Outstanding	19.13M shares	14.23M shares
Diluted Shares Outstanding	19.13M shares	14.23M shares

Balance Sheet

Concept	2020 Q4	2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$10.90M	$300.0K
YoY Change	3533.33%	-66.67%
Cash & Equivalents	$10.88M	$335.0K
Short-Term Investments
Other Short-Term Assets	$9.800M	$5.000M
YoY Change	96.0%	19.05%
Inventory	$1.460M	$1.574M
Prepaid Expenses
Receivables	$23.79M	$14.41M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$44.50M	$19.75M
YoY Change	125.3%	27.67%
LONG-TERM ASSETS
Property, Plant & Equipment	$5.946M	$5.129M
YoY Change	15.93%	64.87%
Goodwill	$222.9M	$166.4M
YoY Change	33.95%	68.97%
Intangibles	$132.8M	$104.9M
YoY Change	26.65%	47.25%
Long-Term Investments
YoY Change
Other Assets	$6.509M	$4.172M
YoY Change	56.02%	137.86%
Total Long-Term Assets	$455.9M	$327.4M
YoY Change	39.23%	80.18%
TOTAL ASSETS
Total Short-Term Assets	$44.50M	$19.75M
Total Long-Term Assets	$455.9M	$327.4M
Total Assets	$500.4M	$347.2M
YoY Change	44.12%	76.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$6.348M	$4.530M
YoY Change	40.13%	33.71%
Accrued Expenses	$26.75M	$21.21M
YoY Change	26.15%	37.95%
Deferred Revenue	$23.87M	$10.38M
YoY Change	130.03%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$59.86M	$36.11M
YoY Change	65.77%	23.23%
LONG-TERM LIABILITIES
Long-Term Debt	$141.4M	$132.3M
YoY Change	6.88%	169.93%
Other Long-Term Liabilities	$12.39M	$7.385M
YoY Change	67.75%	71.19%
Total Long-Term Liabilities	$153.8M	$139.7M
YoY Change	10.1%	161.94%
TOTAL LIABILITIES
Total Short-Term Liabilities	$59.86M	$36.11M
Total Long-Term Liabilities	$153.8M	$139.7M
Total Liabilities	$256.3M	$199.0M
YoY Change	28.78%	140.83%
SHAREHOLDERS EQUITY
Retained Earnings	-$4.595M	-$1.753M
YoY Change	162.12%	-291.79%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$164.5M	$83.10M
YoY Change
Total Liabilities & Shareholders Equity	$497.7M	$347.2M
YoY Change	43.35%	76.06%

Cashflow Statement

Concept	2020 Q4	2019 Q4
OPERATING ACTIVITIES
Net Income	-$1.998M	-$149.0K
YoY Change	1240.94%	-183.71%
Depreciation, Depletion And Amortization	$5.092M	$4.655M
YoY Change	9.39%	31.05%
Cash From Operating Activities	$12.04M	$7.484M
YoY Change	60.85%	23.25%
INVESTING ACTIVITIES
Capital Expenditures	$549.0K	$548.0K
YoY Change	0.18%	412.15%
Acquisitions	$59.60M	$0.00
YoY Change		-100.0%
Other Investing Activities	-$59.60M	-$550.0K
YoY Change	10736.36%	-97.44%
Cash From Investing Activities	-$61.33M	-$1.782M
YoY Change	3341.58%	-91.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$48.22M	-$6.635M
YoY Change	-826.78%	-140.78%
NET CHANGE
Cash From Operating Activities	$12.04M	$7.484M
Cash From Investing Activities	-$61.33M	-$1.782M
Cash From Financing Activities	$48.22M	-$6.635M
Net Change In Cash	-$1.069M	-$933.0K
YoY Change	14.58%	-395.25%
FREE CASH FLOW
Cash From Operating Activities	$12.04M	$7.484M
Capital Expenditures	$549.0K	$548.0K
Free Cash Flow	$11.49M	$6.936M
YoY Change	65.64%	16.28%

Facts In Submission

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CY2020Q4	dei	Amendment Flag AmendmentFlag	false
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CY2020Q4	dei	Entity File Number EntityFileNumber	001-38532
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CY2019Q4	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	7484000	USD
CY2020Q4	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	549000	USD
CY2019Q4	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	548000	USD
CY2020Q4	us-gaap	Payments For Software PaymentsForSoftware	1166000	USD
CY2019Q4	us-gaap	Payments For Software PaymentsForSoftware	578000	USD
CY2020Q4	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	0	USD
CY2019Q4	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	545000	USD
CY2020Q4	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	59595000	USD
CY2019Q4	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	USD
CY2020Q4	us-gaap	Payments To Acquire Other Productive Assets PaymentsToAcquireOtherProductiveAssets	19000	USD
CY2019Q4	us-gaap	Payments To Acquire Other Productive Assets PaymentsToAcquireOtherProductiveAssets	111000	USD
CY2020Q4	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-61329000	USD
CY2019Q4	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1782000	USD
CY2020Q4	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	88255000	USD
CY2019Q4	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	31283000	USD
CY2020Q4	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	38948000	USD
CY2019Q4	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	38390000	USD
CY2020Q4	us-gaap	Payment For Contingent Consideration Liability Financing Activities PaymentForContingentConsiderationLiabilityFinancingActivities	1736000	USD
CY2019Q4	us-gaap	Payment For Contingent Consideration Liability Financing Activities PaymentForContingentConsiderationLiabilityFinancingActivities	0	USD
CY2020Q4	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	851000	USD
CY2019Q4	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	472000	USD
CY2020Q4	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	200000	USD
CY2019Q4	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	USD
CY2020Q4	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	48222000	USD
CY2019Q4	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-6635000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1153000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-933000	USD
CY2020Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	20601000	USD
CY2019Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3200000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	19448000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2267000	USD
CY2020Q4	us-gaap	Interest Paid Net InterestPaidNet	420000	USD
CY2019Q4	us-gaap	Interest Paid Net InterestPaidNet	1971000	USD
CY2020Q4	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
CY2019Q4	us-gaap	Income Taxes Paid IncomeTaxesPaid	287000	USD
CY2020Q4	us-gaap	Nature Of Operations NatureOfOperations	ORGANIZATION AND OPERATIONS<div style="margin-bottom:12pt;text-indent:18pt"><span style="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="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Initial Public Offering</span></div><div style="margin-bottom:12pt;text-indent:18pt"><span style="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="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reorganization Transactions</span></div><div style="margin-bottom:12pt;text-indent:18pt"><span style="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="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="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="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="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="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="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="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="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="margin-bottom:12pt;text-indent:18pt"><span style="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 majority economic interest in i3 Verticals, LLC. </span></div><div style="margin-bottom:4pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Public Offering</span></div><div style="margin-bottom:12pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 15, 2020, the Company completed a public offering (the “September 2020 Public Offering”) of 3,737,500 shares of its Class A common stock, at a public offering price of $23.50 per share, which included a full exercise of the underwriters' option to purchase 487,500 additional shares of Class A Common Stock from the Company. The Company received approximately $83,400 of net proceeds, after deducting underwriting discounts and commissions, but before offering expenses. The Company used the net proceeds to purchase (1) 3,250,000 Common Units directly from i3 Verticals, LLC, and (2) 487,500 Common Units pursuant 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 the Company's Class A common stock in the offering. i3 Verticals, LLC received $72,018 in net proceeds from the sale of Common Units to the Company, which it used to repay outstanding indebtedness. </span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">As of December 31, 2020, i3 Verticals, Inc. owned 64.8% of the economic interest in i3 Verticals, LLC. </span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">As of December 31, 2020, the Continuing Equity Owners owned Common Units in i3 Verticals, LLC representing approximately 35.2% 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 35.2% of the voting power in the Company. </span></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">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><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Combining the Class A common stock and Class B common stock, the Continuing Equity Owners hold approximately 36.0% of the economic interest and voting power in i3 Verticals, Inc. </span></div><div style="margin-bottom:12pt;text-indent:18pt"><span style="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="margin-bottom:12pt;text-indent:18pt"><span style="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>
CY2020Q4	us-gaap	Settlement Liabilities Current SettlementLiabilitiesCurrent	84000	USD
CY2020Q4	us-gaap	Settlement Assets Current SettlementAssetsCurrent	84000	USD
CY2020Q3	us-gaap	Settlement Assets Current SettlementAssetsCurrent	0	USD
CY2020Q3	us-gaap	Settlement Liabilities Current SettlementLiabilitiesCurrent	0	USD
CY2020Q4	us-gaap	Inventory Net InventoryNet	1460000	USD
CY2020Q3	us-gaap	Inventory Net InventoryNet	1309000	USD
CY2020Q4	us-gaap	Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual	5744000	USD
CY2020Q4	us-gaap	Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual	-540000	USD
CY2020Q4	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	43313000	USD
CY2019Q4	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	41111000	USD
CY2020Q4	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	43313000	USD
CY2019Q4	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	41111000	USD
CY2020Q3	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	11054000	USD
CY2020Q4	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	19149000	USD
CY2020Q4	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	6234000	USD
CY2020Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	23969000	USD
CY2020Q4	us-gaap	Variable Lease Cost VariableLeaseCost	1000	USD
CY2019Q3	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	10237000	USD
CY2019Q4	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	5389000	USD
CY2019Q4	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	5211000	USD
CY2019Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	10415000	USD
CY2020Q4	us-gaap	Capitalized Contract Cost Gross CapitalizedContractCostGross	3356000	USD
CY2019Q4	us-gaap	Capitalized Contract Cost Gross CapitalizedContractCostGross	2668000	USD
CY2020Q4	us-gaap	Capitalized Contract Cost Amortization CapitalizedContractCostAmortization	119000	USD
CY2019Q4	us-gaap	Capitalized Contract Cost Amortization CapitalizedContractCostAmortization	88000	USD
CY2020Q4	us-gaap	Use Of Estimates UseOfEstimates	Use of Estimates 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. Actual results could differ from those estimates.
CY2020Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	9093000	USD
CY2020Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	9760000	USD
CY2020Q4	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-202000	USD
CY2020Q4	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	-869000	USD
CY2020Q4	us-gaap	Business Acquisitions Pro Forma Revenue BusinessAcquisitionsProFormaRevenue	45919000	USD
CY2019Q4	us-gaap	Business Acquisitions Pro Forma Revenue BusinessAcquisitionsProFormaRevenue	49866000	USD
CY2020Q4	us-gaap	Business Acquisitions Pro Forma Net Income Loss BusinessAcquisitionsProFormaNetIncomeLoss	-4325000	USD
CY2019Q4	us-gaap	Business Acquisitions Pro Forma Net Income Loss BusinessAcquisitionsProFormaNetIncomeLoss	839000	USD
CY2020Q3	us-gaap	Goodwill Goodwill	187005000	USD
CY2020Q4	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	32907000	USD
CY2020Q4	us-gaap	Goodwill Goodwill	219912000	USD
CY2020Q4	us-gaap	Operating Lease Cost OperatingLeaseCost	854000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	193115000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	60333000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	132782000	USD
CY2020Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	193157000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	60333000	USD
CY2020Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	132824000	USD
CY2020Q4	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	3360000	USD
CY2019Q4	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	3194000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	10059000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	12379000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	11306000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	10283000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	10056000	USD
CY2020Q4	iiiv	Finite Lived Intangible Assets Amortization Expense After Year Four FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour	78699000	USD
CY2020Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	132782000	USD
CY2020Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	4332000	USD
CY2020Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	4567000	USD
CY2020Q4	us-gaap	Long Term Debt LongTermDebt	141398000	USD
CY2020Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P5Y
CY2020Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.068
CY2020Q3	us-gaap	Long Term Debt LongTermDebt	90758000	USD
CY2020Q4	us-gaap	Convertible Debt Fair Value Disclosures ConvertibleDebtFairValueDisclosures	120978000	USD
CY2020Q1	us-gaap	Payments For Hedge Financing Activities PaymentsForHedgeFinancingActivities	28676000	USD
CY2020	us-gaap	Write Off Of Deferred Debt Issuance Cost WriteOffOfDeferredDebtIssuanceCost	141000	USD
CY2019Q4	us-gaap	Deferred Finance Costs Gross DeferredFinanceCostsGross	0	USD
CY2020Q4	us-gaap	Deferred Finance Costs Gross DeferredFinanceCostsGross	0	USD
CY2020Q4	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	235000	USD
CY2019Q4	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	100000	USD
CY2020Q4	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-219000	USD
CY2019Q4	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	149000	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
CY2020Q4	iiiv	Increase Decrease In Deferred Tax Assets IncreaseDecreaseInDeferredTaxAssets	7922000	USD
CY2020Q4	iiiv	Increase Decrease In Tax Receivable Agreement Liability IncreaseDecreaseInTaxReceivableAgreementLiability	6734000	USD
CY2018Q2	iiiv	Tax Receivable Agreement Percent Of Tax Benefits Payable To Continuing Equity Owners TaxReceivableAgreementPercentOfTaxBenefitsPayableToContinuingEquityOwners	0.85
CY2020Q4	iiiv	Period Of Payment To Continuing Equity Owners PeriodOfPaymentToContinuingEquityOwners	P25Y
CY2020Q4	us-gaap	Short Term Lease Cost ShortTermLeaseCost	58000	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	2538000	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	2978000	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	2585000	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	2009000	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	1380000	USD
CY2020Q4	iiiv	Lessee Operating Lease Liability To Be Paid After Year Four LesseeOperatingLeaseLiabilityToBePaidAfterYearFour	1341000	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	12831000	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	1709000	USD
CY2020Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	11122000	USD
CY2020Q4	us-gaap	Short Term Lease Commitment Amount ShortTermLeaseCommitmentAmount	68000	USD
CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Due Current OperatingLeasesFutureMinimumPaymentsDueCurrent	2726000	USD
CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	2397000	USD
CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	2096000	USD
CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	1469000	USD
CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	968000	USD
CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	1221000	USD
CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	10877000	USD
CY2020Q4	us-gaap	Convertible Debt Fair Value Disclosures ConvertibleDebtFairValueDisclosures	120978000	USD
CY2020Q4	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	205000	USD
CY2019Q4	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	148000	USD
CY2020Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	5210566	shares
CY2020Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	21.73
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	758000	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	24.83
CY2020Q4	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	192787	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	17.04
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	72317	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	26.85
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	5703462	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	22.24
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	9.20
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	5703462	shares
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	1776841	shares
CY2020Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions	21069000	USD
CY2020Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P2Y
CY2020Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1	1985000	USD
CY2020Q4	us-gaap	Operating Lease Expense OperatingLeaseExpense	912000	USD
CY2019Q4	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	741000	USD
CY2020Q4	us-gaap	Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear	2473000	USD
CY2020Q4	us-gaap	Purchase Obligation Due In Next Twelve Months PurchaseObligationDueInNextTwelveMonths	2817000	USD
CY2020Q4	us-gaap	Purchase Obligation Due In Second Year PurchaseObligationDueInSecondYear	2645000	USD
CY2020Q4	us-gaap	Purchase Obligation Due In Third Year PurchaseObligationDueInThirdYear	450000	USD
CY2020Q4	us-gaap	Purchase Obligation Due In Fourth Year PurchaseObligationDueInFourthYear	0	USD
CY2020Q4	iiiv	Purchase Obligation To Be Paid After Year Four PurchaseObligationToBePaidAfterYearFour	0	USD
CY2020Q4	us-gaap	Purchase Obligation PurchaseObligation	8385000	USD
CY2018Q2	iiiv	Tax Receivable Agreement Percent Of Tax Benefits Payable To Continuing Equity Owners TaxReceivableAgreementPercentOfTaxBenefitsPayableToContinuingEquityOwners	0.85
CY2020Q4	us-gaap	Revenues Revenues	43313000	USD
CY2020Q4	us-gaap	Other Cost Of Operating Revenue OtherCostOfOperatingRevenue	13666000	USD
CY2020Q4	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	24962000	USD
CY2020Q4	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	5092000	USD
CY2020Q4	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	1904000	USD
CY2020Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	-2311000	USD
CY2020Q4	us-gaap	Gross Profit GrossProfit	35422000	USD
CY2020Q4	us-gaap	Assets Assets	497689000	USD
CY2020Q4	us-gaap	Goodwill Goodwill	219912000	USD
CY2019Q4	us-gaap	Revenues Revenues	41111000	USD
CY2019Q4	us-gaap	Revenues Revenues	41111000	USD
CY2019Q4	us-gaap	Other Cost Of Operating Revenue OtherCostOfOperatingRevenue	12918000	USD
CY2019Q4	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	19287000	USD
CY2019Q4	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	4655000	USD
CY2019Q4	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	154000	USD
CY2019Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	4097000	USD
CY2019Q4	us-gaap	Gross Profit GrossProfit	33497000	USD
CY2019Q4	us-gaap	Assets Assets	347186000	USD
CY2019Q4	us-gaap	Goodwill Goodwill	166413000	USD
CY2020Q4	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-1549000	USD
CY2019Q4	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	2083000	USD
CY2020Q4	us-gaap	Minority Interest Decrease From Redemptions MinorityInterestDecreaseFromRedemptions	7185000	USD
CY2019Q4	us-gaap	Minority Interest Decrease From Redemptions MinorityInterestDecreaseFromRedemptions	0	USD
CY2020Q4	iiiv	Noncontrolling Interest Cumulative Effect Of Adoption Of New Accounting Standard NoncontrollingInterestCumulativeEffectOfAdoptionOfNewAccountingStandard	0	USD
CY2019Q4	iiiv	Noncontrolling Interest Cumulative Effect Of Adoption Of New Accounting Standard NoncontrollingInterestCumulativeEffectOfAdoptionOfNewAccountingStandard	640000	USD
CY2020Q4	iiiv	Noncontrolling Interest Increase From Allocation Of Equity NoncontrollingInterestIncreaseFromAllocationOfEquity	1072000	USD
CY2019Q4	iiiv	Noncontrolling Interest Increase From Allocation Of Equity NoncontrollingInterestIncreaseFromAllocationOfEquity	0	USD
CY2020Q4	us-gaap	Minority Interest Period Increase Decrease MinorityInterestPeriodIncreaseDecrease	-6113000	USD
CY2019Q4	us-gaap	Minority Interest Period Increase Decrease MinorityInterestPeriodIncreaseDecrease	640000	USD
CY2020Q4	iiiv	Net Income Loss Attributable To Noncontrolling Interest After Transfers To From Noncontrolling Interests NetIncomeLossAttributableToNoncontrollingInterestAfterTransfersToFromNoncontrollingInterests	-7662000	USD
CY2019Q4	iiiv	Net Income Loss Attributable To Noncontrolling Interest After Transfers To From Noncontrolling Interests NetIncomeLossAttributableToNoncontrollingInterestAfterTransfersToFromNoncontrollingInterests	2723000	USD
CY2020Q4	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.13
CY2019Q4	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.01
CY2020Q4	us-gaap	Fair Value Of Assets Acquired FairValueOfAssetsAcquired	3400000	USD
CY2019Q4	us-gaap	Fair Value Of Assets Acquired FairValueOfAssetsAcquired	0	USD
CY2020Q4	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	11251000	USD

Files In Submission

Name	View Source	Status
0001728688-21-000030-index-headers.html	Edgar Link	pending
0001728688-21-000030-index.html	Edgar Link	pending
0001728688-21-000030.txt	Edgar Link	pending
0001728688-21-000030-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
i310qq1fy2021exhibit311.htm	Edgar Link	pending
i310qq1fy2021exhibit312.htm	Edgar Link	pending
i310qq1fy2021exhibit321.htm	Edgar Link	pending
i310qq1fy2021exhibit322.htm	Edgar Link	pending
iiiv-20201231.htm	Edgar Link	pending
iiiv-20201231.xsd	Edgar Link	pending
iiiv-20201231_cal.xml	Edgar Link	unprocessable
iiiv-20201231_def.xml	Edgar Link	unprocessable
iiiv-20201231_htm.xml	Edgar Link	completed
iiiv-20201231_lab.xml	Edgar Link	unprocessable
iiiv-20201231_pre.xml	Edgar Link	unprocessable
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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report.css	Edgar Link	pending
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2020 Q4 Form 10-Q Financial Statement

#000172868821000030 Filed on February 09, 2021

Income Statement

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Facts In Submission

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$IIIV i3 Verticals, Inc. Stock $iiiv

2020 Q4 Form 10-Q Financial Statement

#000172868821000030 Filed on February 09, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$IIIV
i3 Verticals, Inc. Stock $iiiv