i3 Verticals, Inc. (IIIV) Stock

i3 Verticals, Inc. (IIIV) is a Technology stock trading at $16.68 (as of 2026-08-21), with a market capitalization of $325.99M and a trailing P/E of 40.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

i3 Verticals, Inc. provides payment processing and related proprietary software solutions for small- and medium-sized organizations in the U.S., including education, non-profit, public sector, and healthcare markets. It operates in Merchant Services and Proprietary Software and Payments and serves customers through direct sales, distribution partners, and referral partners.

Understand i3 Verticals, Inc.: how it makes money

i3 Verticals provides integrated payment and software solutions for small and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare, it makes money through Merchant Services payment processing and through Proprietary Software and Payments licensing plus ongoing support.

The profit model combines recurring software and related services with payment processing tied to electronic transactions, and performance is influenced by how much payment volume is processed through integrated payments.

Revenue by segment (latest quarter)
Merchant Svcs$0.0B
Proprietary Software and Payments$0.1B

Business quality (Weak): Two-segment mix, Merchant Services plus Proprietary Software and Payments, suggests earnings depend on both recurring software/support and transaction-driven payments, with operating margin of 6.5% in the latest reported quarter (period ended 2026-03-31).

Valuation: Trades at 28× trailing earnings · $1B market cap.

Bull case

  • Diversified model across two reportable segments, Merchant Services and Proprietary Software and Payments: This combines payment processing services (electronic payments) with licensed software and ongoing support.
  • Recurring revenue visibility: Annual Recurring Revenue is a tracked operating metric.
  • High integrated-payments linkage: Integrated Payments Percentage is reported as 62% (and 63% of payment volume).

Bear case

  • Payments economics can be volatile: Merchant Services includes transaction-related activity, so changes in payment activity can affect results.
  • Customer mix is concentrated in specific market types: The company focuses on education, non-profit, public sector, and healthcare, so changes in those markets can impact demand for its solutions.
Valuation — source: SEC EDGAR (first-party)
Price$16.68
Market Cap$325.99M
P/E Ratio40.3
EV / EBITDA11.5
Price / Book0.81
Price / Sales1.48
FCF Yield29.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$213.16M
Net Margin8.4%
Revenue Growth (YoY)2.2%
EPS Growth (YoY)-66.0%
FCF Growth (YoY)-471.5%
Financial Health — source: SEC EDGAR
Altman Z-Score3.57 (safe)
Valuation vs Sector & Industry
Stock P/E40.3
Sector P/E (Technology)34.0
Industry P/E (Business Services)30.2
vs Sector18.6%
vs Industry33.6%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($46.14M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOGregory S. Daily
Employees1,480
CountryUS
IPO Date2018-06-21

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IIIV earnings history · IIIV institutional & insider holders · IIIV KPIs & operating metrics · IIIV financials · IIIV investor presentations & press releases · IIIV SEC filings · IIIV peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.