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i3 Verticals Valuation Multiples

Discover revenue and EBITDA valuation multiples for i3 Verticals and similar public comparables like One97 Communications, Tyro Payments, and Adyen.

i3 Verticals Overview

About i3 Verticals

i3 Verticals Inc offers integrated payment and software solutions to small and medium-sized businesses and organizations in strategic vertical markets. Its operating segment includes Public Sector and Healthcare. The company generates maximum revenue from the Public Sector segment.


Founded

2018

HQ

United States of America
Employees

1.5K+

Website

i3verticals.com

Financials

LTM Revenue $243M

LTM EBITDA $63.4M

EV

$526M

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i3 Verticals Financials

i3 Verticals has a last 12-month revenue of $243M and a last 12-month EBITDA of $63.4M.

In the most recent fiscal year, i3 Verticals achieved revenue of $230M and an EBITDA of $47.7M.

i3 Verticals expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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i3 Verticals P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $370M $230M XXX XXX XXX
Gross Profit $244M $290M XXX XXX XXX
Gross Margin 66% 126% XXX XXX XXX
EBITDA $57.7M $47.7M XXX XXX XXX
EBITDA Margin 16% 21% XXX XXX XXX
Net Profit -$17.1M -$0.8M XXX XXX XXX
Net Margin -5% 0% XXX XXX XXX
Net Debt $284M $382M XXX XXX XXX

Financial data powered by Morningstar, Inc.

i3 Verticals Stock Performance

As of April 15, 2025, i3 Verticals's stock price is $25.

i3 Verticals has current market cap of $576M, and EV of $526M.

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i3 Verticals Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$526M $576M XXX XXX XXX XXX $0.85

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i3 Verticals Valuation Multiples

As of April 15, 2025, i3 Verticals has market cap of $576M and EV of $526M.

i3 Verticals's trades at 2.2x LTM EV/Revenue multiple, and 8.3x LTM EBITDA.

Analysts estimate i3 Verticals's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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i3 Verticals Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $526M XXX XXX XXX
EV/Revenue 2.2x XXX XXX XXX
EV/EBITDA 10.0x XXX XXX XXX
P/E 6.5x XXX XXX XXX
P/E/Growth -0.1x XXX XXX XXX
EV/FCF 14.5x XXX XXX XXX

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i3 Verticals Valuation Multiples

i3 Verticals's NTM/LTM revenue growth is 11%

i3 Verticals's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, i3 Verticals's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate i3 Verticals's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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i3 Verticals Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -38% XXX XXX XXX XXX
EBITDA Margin 22% XXX XXX XXX XXX
EBITDA Growth -17% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 33% XXX XXX XXX XXX
Revenue per Employee $0.2M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 89% XXX XXX XXX XXX

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i3 Verticals Public Comps

See public comps and valuation multiples for Payment Service Providers and Financial Services Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Adyen XXX XXX XXX XXX XXX XXX
EML Payments XXX XXX XXX XXX XXX XXX
Tyro Payments XXX XXX XXX XXX XXX XXX
One97 Communications XXX XXX XXX XXX XXX XXX
AGS Transact XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

i3 Verticals M&A and Investment Activity

i3 Verticals acquired  XXX companies to date.

Last acquisition by i3 Verticals was  XXXXXXXX, XXXXX XXXXX XXXXXX . i3 Verticals acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by i3 Verticals

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About i3 Verticals

When was i3 Verticals founded? i3 Verticals was founded in 2018.
Where is i3 Verticals headquartered? i3 Verticals is headquartered in United States of America.
How many employees does i3 Verticals have? As of today, i3 Verticals has 1.5K+ employees.
Who is the CEO of i3 Verticals? i3 Verticals's CEO is Mr. Gregory Daily.
Is i3 Verticals publicy listed? Yes, i3 Verticals is a public company listed on NAS.
What is the stock symbol of i3 Verticals? i3 Verticals trades under IIIV ticker.
When did i3 Verticals go public? i3 Verticals went public in 2018.
Who are competitors of i3 Verticals? Similar companies to i3 Verticals include e.g. Adyen, EML Payments, Tyro Payments, One97 Communications.
What is the current market cap of i3 Verticals? i3 Verticals's current market cap is $576M
What is the current revenue of i3 Verticals? i3 Verticals's last 12-month revenue is $243M.
What is the current EBITDA of i3 Verticals? i3 Verticals's last 12-month EBITDA is $63.4M.
What is the current EV/Revenue multiple of i3 Verticals? Current revenue multiple of i3 Verticals is 2.2x.
What is the current EV/EBITDA multiple of i3 Verticals? Current EBITDA multiple of i3 Verticals is 8.3x.
What is the current revenue growth of i3 Verticals? i3 Verticals revenue growth between 2023 and 2024 was -38%.
Is i3 Verticals profitable? Yes, i3 Verticals is EBITDA-positive (as of the last 12 months).

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