i3 Verticals (IIIV) revenue breakdown
By segment, Public Sector is the largest at 80% of fiscal 2024 revenue, growing 13% a year over 2 years.
By product, Software and related services revenue is the largest at 70% of fiscal 2025 revenue, growing 32% a year over 5 years.
Revenue by segment
Fiscal years, as i3 Verticals reports them in its 10-K filings; fiscal 2024 total $230M.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Public Sector | — | — | — | — | — | — | $144M | $182M | $185M | 80% |
| Healthcare | — | — | — | — | — | — | $44M | $45M | $46M | 20% |
| Software and Services | $12M | $15M | $20M | $37M | $51M | $114M | — | — | — | — |
| Merchant Services | $188M | $248M | $304M | $339M | $101M | $112M | — | — | — | — |
| Other | -$94,000 | -$16,000 | — | — | — | — | — | — | — | — |
| Other | — | — | -$3,000 | — | -$2M | -$2M | -$22,000 | -$75,000 | -$484,000 | -0% |
Revenue by product
Fiscal years, as i3 Verticals reports them in its 10-K filings; fiscal 2025 total $213M.
| Products | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|
| Software and related services revenue | $37M | $88M | $141M | $134M | $132M | $149M | 70% |
| Proprietary payments revenue | — | — | $36M | $47M | $50M | $54M | 25% |
| Other revenue | $13M | $17M | $10M | $9M | $9M | $10M | 5% |
| Payments revenue | $101M | $120M | — | — | — | — | — |
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Where does i3 Verticals make its money?
In fiscal 2024, by segment: Public Sector $185M, Healthcare $46M.
From i3 Verticals's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.