i3 Verticals, Inc.
IIIV · Services-Prepackaged Software · 33.2M shares · +33%/yr ↑ dilution · EDGAR filings ↗
Reference price $19.23 · est. market cap ~$639M — last insider purchase, 2026-05-14 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C56Payments/software company — profitable but with very low free-cash-flow conversion.
Strengths
- Profitable, growing — net margin 8% (64th), revenue +311% (100th)
Risks
- Very low FCF conversion — FCF $4M, FCF margin 2% (11th)
- Profit flattered by one-time gains — per metrics
- Integration/competition risk — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +33%/yr over 4y (dilution, book value/share -40%)
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$961,500, last 6mo) Form 4 ↗
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
1.8%
Net margin
8.4%
Return on equity
4.6%
Return on assets
2.8%
ROIC
0.8%
Revenue growth (QoQ)
9.2%
Net-income growth
-84.2%
Debt / equity
0.0×
Net debt / EBITDA
-2.1×
Current ratio
1.9×
Free cash flow
$4M
EBITDA
$32M
Tangible book value
$5M
Cash & investments
$67M
Stock comp / revenue
8.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-14 | DAILY GREGORY S | Buy | 50K | $19.23 |
| 2026-03-06 | CHRISTIANS PAUL | Sell | 6.1K | $23.23 |
| 2026-02-11 | MAPLE PAUL | Tax withheld | 3.3K | $21.88 |
| 2026-02-11 | WHITSON CLAY M | Tax withheld | 4.3K | $21.88 |
| 2026-02-11 | LAISURE CHRISTOPHER | Tax withheld | 2.5K | $21.88 |
| 2026-02-11 | SMITH GEOFFREY C. | Tax withheld | 4.3K | $21.88 |
| 2026-02-11 | CHRISTIANS PAUL | Tax withheld | 3.9K | $21.88 |
| 2026-02-11 | STANFORD FREDERICK | Tax withheld | 4.6K | $21.88 |
| 2026-02-10 | WILDS DAVID M | Grant | 6.5K | — |
| 2026-02-10 | Jenkins Decosta | Grant | 6.5K | — |
| 2026-02-10 | COURTNEY ELIZABETH S. | Grant | 6.5K | — |
| 2026-02-10 | MCKENNA TIMOTHY | Grant | 6.5K | — |
| 2026-02-10 | HARRISON JOHN C. | Grant | 6.5K | — |
| 2026-02-10 | MORGAN DAVID K. | Grant | 6.5K | — |
| 2025-12-10 | WILDS DAVID M | Other | 7.5K | — |
| 2025-12-10 | WILDS DAVID M | Other | 7.5K | — |
| 2025-12-03 | CHRISTIANS PAUL | Sell | 9.0K | $23.27 |
| 2025-11-26 | CHRISTIANS PAUL | Sell | 3.3K | $23.78 |
| 2025-11-21 | STANFORD FREDERICK | Sell | 11K | $24.21 |
| 2025-11-16 | CHRISTIANS PAUL | Tax withheld | 305 | $28.85 |
| 2025-11-14 | MAPLE PAUL | Tax withheld | 5.9K | $30.75 |
| 2025-11-14 | WHITSON CLAY M | Tax withheld | 5.9K | $30.75 |
| 2025-11-14 | STANFORD FREDERICK | Tax withheld | 3.7K | $30.75 |
| 2025-11-14 | SMITH GEOFFREY C. | Tax withheld | 7.4K | $30.75 |
| 2025-11-14 | CHRISTIANS PAUL | Tax withheld | 3.7K | $30.75 |
| 2025-11-14 | LAISURE CHRISTOPHER | Tax withheld | 5.9K | $30.75 |
| 2025-11-14 | LAISURE CHRISTOPHER | Grant | 15K | — |
| 2025-11-14 | CHRISTIANS PAUL | Grant | 15K | — |
| 2025-11-14 | SMITH GEOFFREY C. | Grant | 15K | — |
| 2025-11-14 | STANFORD FREDERICK | Grant | 15K | — |
| 2025-11-14 | MAPLE PAUL | Grant | 15K | — |
| 2025-11-14 | WHITSON CLAY M | Grant | 15K | — |
| 2025-09-21 | SMITH GEOFFREY C. | Tax withheld | 2.0K | $32.07 |
| 2025-09-11 | MAPLE PAUL | Sell | 2.5K | $31.04 |
| 2025-08-29 | CHRISTIANS PAUL | Sell | 1.9K | $31.40 |
| 2025-08-12 | MCKENNA TIMOTHY | Option exercise | 12K | $19.22 |
| 2025-08-12 | MCKENNA TIMOTHY | Sell | 6.9K | $31.81 |
| 2025-08-12 | MCKENNA TIMOTHY | Tax withheld | 24K | $31.58 |
| 2025-08-12 | MCKENNA TIMOTHY | Option exercise | 9.1K | $23.65 |
| 2025-08-12 | MCKENNA TIMOTHY | Option exercise | 10K | $21.30 |
| 2025-08-06 | DAILY GREGORY S | Gift | 336K | — |
| 2025-08-06 | DAILY GREGORY S | Gift | 336K | — |
| 2025-05-15 | SMITH GEOFFREY C. | Sell | 8.4K | $26.56 |
| 2025-05-13 | HARVEY ROBERT BURTON | Sell | 40K | $24.81 |
| 2025-05-13 | WILDS DAVID M | Conversion | 218K | — |
| 2025-05-13 | WILDS DAVID M | Sell | 218K | $24.81 |
| 2025-05-13 | WILDS DAVID M | Other | 218K | — |
| 2025-05-13 | HARRISON JOHN C. | Conversion | 79K | — |
| 2025-05-13 | HARRISON JOHN C. | Sell | 79K | $24.81 |
| 2025-05-13 | HARRISON JOHN C. | Other | 79K | — |
| 2025-05-13 | HARVEY ROBERT BURTON | Conversion | 40K | — |
| 2025-05-13 | HARVEY ROBERT BURTON | Conversion | 27K | — |
| 2025-05-13 | HARVEY ROBERT BURTON | Conversion | 4.5K | — |
| 2025-05-13 | HARVEY ROBERT BURTON | Sell | 27K | $24.82 |
| 2025-05-13 | HARVEY ROBERT BURTON | Sell | 4.5K | $24.76 |
| 2025-05-13 | HARVEY ROBERT BURTON | Other | 40K | — |
| 2025-05-13 | HARVEY ROBERT BURTON | Other | 27K | — |
| 2025-05-13 | HARVEY ROBERT BURTON | Other | 4.5K | — |
| 2025-02-11 | MCKENNA TIMOTHY | Grant | 3.9K | — |
| 2025-02-11 | LAISURE CHRISTOPHER | Grant | 22K | — |
| 2025-02-11 | HARVEY ROBERT BURTON | Grant | 3.9K | — |
| 2025-02-11 | SMITH GEOFFREY C. | Grant | 40K | — |
| 2025-02-11 | Jenkins Decosta | Grant | 3.9K | — |
| 2025-02-11 | MAPLE PAUL | Grant | 30K | — |
| 2025-02-11 | MORGAN DAVID K. | Grant | 3.9K | — |
| 2025-02-11 | HARRISON JOHN C. | Grant | 3.9K | — |
| 2025-02-11 | CHRISTIANS PAUL | Grant | 40K | — |
| 2025-02-11 | COURTNEY ELIZABETH S. | Grant | 3.9K | — |
| 2025-02-11 | WHITSON CLAY M | Grant | 40K | — |
| 2025-02-11 | STANFORD FREDERICK | Grant | 40K | — |
| 2025-02-11 | WILDS DAVID M | Grant | 3.9K | — |
| 2025-01-23 | WILDS DAVID M | Disposition | 10.0K | — |
| 2025-01-23 | WILDS DAVID M | Disposition | 289 | — |
| 2025-01-23 | WILDS DAVID M | Disposition | 9.9K | — |
| 2025-01-23 | MAPLE PAUL | Disposition | 1.0K | — |
| 2025-01-23 | HARRISON JOHN C. | Disposition | 3.0K | — |
| 2025-01-23 | DAILY GREGORY S | Disposition | 173K | — |
| 2025-01-23 | DAILY GREGORY S | Disposition | 94K | — |
| 2025-01-23 | MCKENNA TIMOTHY | Disposition | 1.4K | — |
| 2025-01-23 | STANFORD FREDERICK | Disposition | 3.7K | — |
| 2025-01-23 | WHITSON CLAY M | Disposition | 9.7K | — |
| 2025-01-23 | HARVEY ROBERT BURTON | Disposition | 431 | — |
| 2025-01-23 | HARVEY ROBERT BURTON | Disposition | 1.5K | — |
| 2025-01-23 | HARVEY ROBERT BURTON | Disposition | 1.0K | — |
| 2025-01-23 | HARVEY ROBERT BURTON | Disposition | 172 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-02 | Reg FDExhibits | filing ↗ |
| 2026-05-12 | Other | filing ↗ |
| 2026-05-07 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-03 | Shareholder vote | filing ↗ |
| 2026-02-05 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-11-17 | ResultsExec/director changeReg FDExhibits | filing ↗ |
| 2025-08-07 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-05-08 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-02 | 2026-06-02 | 0001728688-26-000037 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001728688-26-000034 ↗ |
| 10-Q | 2026-05-08 | 2026-03-31 | 0001728688-26-000032 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001728688-26-000029 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001728688-26-000026 ↗ |
| 10-Q | 2026-02-06 | 2025-12-31 | 0001728688-26-000020 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001728688-26-000017 ↗ |
| 10-K | 2025-11-21 | 2025-09-30 | 0001728688-25-000122 ↗ |
| 8-K | 2025-11-17 | 2025-11-17 | 0001728688-25-000118 ↗ |
| 10-Q | 2025-08-08 | 2025-06-30 | 0001728688-25-000108 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001728688-25-000103 ↗ |
| 10-Q | 2025-05-09 | 2025-03-31 | 0001728688-25-000089 ↗ |