On this page of StockholderLetter.com we present the latest annual shareholder letter from i3 Verticals, Inc. — ticker symbol IIIV. Reading current and past IIIV letters to shareholders can bring important insights into the investment thesis.
Annual Report
2024
To Our Stockholders
Each year I write this letter during the holiday season. It is the season of gratitude, reflection, and above all, new beginnings.
I feel these in a very special way this year.
When we founded i3 in 2012, we envisioned a company that would integrate payments functionality into software products
in a seamless manner. As a first step, and before our focus shifted to the software side, we concentrated our efforts on
acquiring and building our payment platforms, and through that process we created a leading-edge payments company.
Maybe more importantly, during that time we assembled a world-class team of payments professionals who led by example
and were vital contributors to i3   s growth.
As you know, in September we divested a large portion of our payments-only business as part of our continued evolution to
a software and services company in the Public Sector and Healthcare verticals. It was the correct strategic decision and i3 is
poised for great things, but I want to specifically acknowledge the invaluable contributions made by the payments team that
was part of our divestiture     some of whom were with i3 for a decade     and many of whom I count as close friends. We owe
all of them a debt of gratitude and I will look forward to watching them flourish with Payroc.
I want to thank each of you for your continued support and partnership. Our vision remains unchanged and is unfolding
before us. Fiscal 2024 was a year of great change for i3, and 2025 is a year of    new beginnings   . I could not be more excited.
The best is ahead of us.
GREG DAILY
Chairman & Chief Executive Officer
Leadership Team
Board of Directors
GREG DAILY
GREG DAILY
CLAY WHITSON
Chairman & Chief Executive Officer
Chairman
Director
CLAY WHITSON
DAVID WILDS
TIMOTHY MCKENNA
Chief Strategy Officer
Managing Partner, First Avenue
Partners
Former President of Fidelity Capital
Markets Fidelity Investment
President
BURTON HARVEY
JOHN HARRISON
PAUL CHRISTIANS
Managing Partner, Capital
Alignment Partners
Director, Harbert Management
Corporation
DECOSTA JENKINS
DAVID MORGAN
Former Chief Executive Officer,
Nashville Electric Service
Chairman and Vice President,
LBMC Financial Services, LLC
RICK STANFORD
Chief Revenue Officer
PAUL MAPLE
General Counsel & Secretary
GEOFF SMITH
Chief Financial Officer
ELIZABETH SEIGENTHALER
COURTNEY
Managing Partner, Southeast, Finn
Partners Inc.
 • shareholder letter icon 1/10/2025 Letter Continued (Full PDF)
 • stockholder letter icon 1/23/2023 IIIV Stockholder Letter
 • stockholder letter icon 1/9/2024 IIIV Stockholder Letter
 • stockholder letter icon More "Business Services & Equipment" Category Stockholder Letters
 • Benford's Law Stocks icon IIIV Benford's Law Stock Score = 93


IIIV Shareholder/Stockholder Letter Transcript:

Annual Report
2024

To Our Stockholders
Each year I write this letter during the holiday season. It is the season of gratitude, reflection, and above all, new beginnings.
I feel these in a very special way this year.
When we founded i3 in 2012, we envisioned a company that would integrate payments functionality into software products
in a seamless manner. As a first step, and before our focus shifted to the software side, we concentrated our efforts on
acquiring and building our payment platforms, and through that process we created a leading-edge payments company.
Maybe more importantly, during that time we assembled a world-class team of payments professionals who led by example
and were vital contributors to i3   s growth.
As you know, in September we divested a large portion of our payments-only business as part of our continued evolution to
a software and services company in the Public Sector and Healthcare verticals. It was the correct strategic decision and i3 is
poised for great things, but I want to specifically acknowledge the invaluable contributions made by the payments team that
was part of our divestiture     some of whom were with i3 for a decade     and many of whom I count as close friends. We owe
all of them a debt of gratitude and I will look forward to watching them flourish with Payroc.
I want to thank each of you for your continued support and partnership. Our vision remains unchanged and is unfolding
before us. Fiscal 2024 was a year of great change for i3, and 2025 is a year of    new beginnings   . I could not be more excited.
The best is ahead of us.
GREG DAILY
Chairman & Chief Executive Officer
Leadership Team
Board of Directors
GREG DAILY
GREG DAILY
CLAY WHITSON
Chairman & Chief Executive Officer
Chairman
Director
CLAY WHITSON
DAVID WILDS
TIMOTHY MCKENNA
Chief Strategy Officer
Managing Partner, First Avenue
Partners
Former President of Fidelity Capital
Markets Fidelity Investment
President
BURTON HARVEY
JOHN HARRISON
PAUL CHRISTIANS
Managing Partner, Capital
Alignment Partners
Director, Harbert Management
Corporation
DECOSTA JENKINS
DAVID MORGAN
Former Chief Executive Officer,
Nashville Electric Service
Chairman and Vice President,
LBMC Financial Services, LLC
RICK STANFORD
Chief Revenue Officer
PAUL MAPLE
General Counsel & Secretary
GEOFF SMITH
Chief Financial Officer
ELIZABETH SEIGENTHALER
COURTNEY
Managing Partner, Southeast, Finn
Partners Inc.



shareholder letter icon 1/10/2025 Letter Continued (Full PDF)
 

IIIV Stockholder/Shareholder Letter (i3 Verticals, Inc.) | www.StockholderLetter.com
Copyright © 2023 - 2025, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.