Recent Updates — IIIV

On October 9, 2026, i3 Verticals, LLC entered into an Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent. The new agreement replaces the prior credit arrangement dated May 8, 2023, and establishes aggregate commitments of $350 million in the form of a senior secured revolving credit facility. The company retains the right to seek additional term loan or revolving credit commitments up to the greater of $100 million or 100% of consolidated EBITDA, subject to lender approval. Proceeds may be used for working capital and capital expenditures. The obligations are guaranteed by i3 Verticals, Inc. and secured by substantially all assets, with leverage covenants limiting the total net leverage ratio to 4.00 to 1.00. i3 Verticals provides vertical market software solutions.

i3 Verticals reported third-quarter fiscal 2026 results for the period ended June 30, 2026, with revenue from continuing operations of $53.1 million, a 2.2% increase year-over-year. Net income from continuing operations was $5.9 million compared to a $1.0 million loss in the prior year period. Adjusted EBITDA rose 4.6% to $13.3 million, and Annualized Recurring Revenue (ARR) grew 8.3% to $174.1 million. The company revised its full-year fiscal 2026 guidance downward, lowering the revenue outlook to a range of $216.0 million–$221.0 million from $221.0 million–$229.0 million and adjusted EBITDA to $57.0 million–$60.0 million from $61.0 million–$65.0 million, citing weakness in non-recurring revenue streams and implementation delays. i3 Verticals provides mission-critical enterprise software solutions to public sector entities.