IIIV
Technologyi3 Verticals, Inc. · Software - Infrastructure · $480M
What is i3 Verticals, Inc.?
i3 Verticals is a Nashville-based technology company focused on integrated payment processing and software solutions for public-sector and mission-driven organizations across the United States. Founded in 2012, it serves clients in education, healthcare, non-profit, and government markets.
The company operates through two segments: Merchant Services and Proprietary Software and Payments. Its Merchant Services segment enables clients to accept electronic payments by facilitating fund exchanges between clients, financial institutions, and payment networks. The Proprietary Software and Payments segment licenses purpose-built software and provides ongoing support and point-of-sale solutions. i3 Verticals reaches customers through a direct sales force, independent software vendors, value-added resellers, and referral partners such as financial institutions and trade associations.
i3 Verticals was founded in 2012 and is headquartered in Nashville, Tennessee.
- Electronic payment processing for public-sector clients
- Proprietary vertical software for education and government
- Point-of-sale solutions and ongoing client support
- Distribution through independent software vendors and resellers
- Referral partnerships with financial institutions and associations
Is IIIV a Good Stock to Buy?
UQS Score rates IIIV as Below Average overall, reflecting meaningful challenges across several key pillars.
The brightest spots in IIIV's profile are its Risk and Valuation pillars, both rated Good. The Risk rating suggests the company carries a manageable financial risk profile relative to its size, while the Valuation pillar indicates the stock does not appear significantly stretched compared to peers.
Quality, Moat, and Growth are all rated Weak — pointing to limited competitive differentiation, constrained earnings quality, and subdued growth momentum that weigh on the overall score.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does IIIV pay dividends?
No — i3 Verticals, Inc. does not currently pay a dividend.
i3 Verticals does not currently pay a dividend. For a small-cap technology company operating in niche vertical markets, retaining capital to fund product development, potential acquisitions, and platform expansion is a common strategic choice. Income-focused investors should note that IIIV does not offer a yield at this time.
When does IIIV report earnings?
i3 Verticals reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
Given the Weak ratings across Quality and Growth pillars, recent reporting periods appear to reflect ongoing pressure on earnings quality and top-line expansion. Investors should monitor segment-level trends in both Merchant Services and Proprietary Software and Payments for signs of improvement.
For the most recent quarter's results and guidance, visit i3 Verticals' official investor relations page.
IIIV Price History
-28.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in i3 Verticals, Inc.?
Based on i3 Verticals, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
IIIV Long-term Outlook
The combination of Weak Growth and Weak Quality pillars suggests the near-term fundamental outlook for IIIV faces headwinds. While the Good Risk rating provides some stability, sustained improvement would likely require meaningful acceleration in software adoption or margin recovery. The Good Valuation pillar may offer a degree of downside cushion, but it does not offset the structural concerns reflected in the other pillars.
Growth drivers
- Expansion of proprietary software into additional public-sector verticals
- Cross-selling payment processing to existing software clients
- Potential tuck-in acquisitions in underserved government or education markets
Key risks
- Weak competitive moat leaves IIIV exposed to larger payment platforms
- Limited earnings quality may constrain reinvestment capacity
- Small-cap size increases sensitivity to macro or credit-market shifts
IIIV vs Peers
i3 Verticals operates in a competitive landscape that includes both cloud-based software providers and specialized payment companies.
Consensus focuses on cloud-based document and fax solutions for healthcare and regulated industries, competing on digital communication rather than payment processing.
BTQ Technologies targets post-quantum cryptography for financial networks, representing an emerging-technology angle distinct from IIIV's vertical software focus.
IMXI specializes in cross-border remittance and money transfer services, serving a consumer-facing market that differs from IIIV's public-sector and institutional client base.
Frequently Asked Questions
What does i3 Verticals do?
i3 Verticals provides integrated payment processing and proprietary software to organizations in education, government, healthcare, and non-profit sectors. It operates two segments — Merchant Services and Proprietary Software and Payments — and reaches clients through direct sales, resellers, and referral partners such as financial institutions.
Does IIIV pay dividends?
No, i3 Verticals does not currently pay a dividend. The company retains capital to support operations and potential growth initiatives, which is common among small-cap technology companies focused on vertical market expansion.
When does IIIV report earnings?
i3 Verticals follows a standard quarterly earnings cadence for US-listed companies. For exact dates and the most recent financial results, check the investor relations section of the company's official website.
Is IIIV a good stock to buy?
UQS Score rates IIIV as Below Average, driven by Weak ratings in Quality, Moat, and Growth. The Risk and Valuation pillars are rated Good, offering some balance. Whether it fits your portfolio depends on your risk tolerance and investment goals — view the full pillar breakdown on UQS Score for a deeper look.
Is IIIV overvalued?
The UQS Valuation pillar for IIIV is rated Good, suggesting the stock does not appear significantly overpriced relative to its fundamentals and sector peers. However, valuation alone does not make a complete investment case — quality and growth factors also matter.
How does IIIV compare to its competitors?
i3 Verticals occupies a niche in public-sector payments and vertical software, differentiating it from peers like IMXI, which focuses on consumer remittances, and CCSI, which targets cloud document solutions. Each competitor serves distinct end markets, making direct comparisons nuanced.
What is IIIV's market cap bracket?
i3 Verticals is classified as a small-cap company. Small-cap stocks can offer growth potential but typically carry higher volatility and liquidity risk compared to large- or mega-cap peers in the technology sector.
Who founded i3 Verticals?
i3 Verticals was founded in 2012. Detailed founding history, including key executives involved at inception, is publicly available through the company's official disclosures and investor relations materials.
Is IIIV a long-term quality investment?
As a long-term quality indicator, IIIV's Below Average UQS Score — anchored by Weak Quality, Moat, and Growth ratings — raises questions about durable competitive positioning. The Good Risk and Valuation ratings provide some support, but sustained long-term quality typically requires stronger moat and earnings characteristics.
What is the main competitive advantage of i3 Verticals?
i3 Verticals targets underserved public-sector and mission-driven markets with purpose-built software and integrated payments. Its vertical focus creates some client stickiness, though the UQS Moat pillar is currently rated Weak, suggesting this advantage has not yet translated into a strongly defensible competitive position.
What sector does IIIV belong to?
i3 Verticals is classified in the Technology sector, specifically within payment processing and vertical software solutions. Its public-sector client focus gives it characteristics that overlap with government services and financial technology sub-industries.
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Pro Analysis
IIIV — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 16, 2026 | 35.8 | 29.6 | 21.0 | 30.2 | 31.4 | 82.7 | -1.3 |
| May 7, 2026 | 37.1 | 15.5 | 21.0 | 30.8 | 69.3 | 75.8 | +0.2 |
| May 3, 2026 | 36.9 | 15.5 | 21.0 | 30.8 | 69.3 | 74.5 | -0.2 |
| Apr 26, 2026 | 37.1 | 15.5 | 21.0 | 30.8 | 69.3 | 76.3 | -0.3 |
| Apr 18, 2026 | 37.4 | 15.5 | 21.0 | 30.8 | 69.3 | 78.0 | 0.0 |
| Apr 12, 2026 | 37.4 | 15.6 | 21.0 | 30.8 | 69.3 | 78.2 | +0.4 |
| Apr 11, 2026 | 37.0 | 15.6 | 21.0 | 30.8 | 69.3 | 75.5 | 0.0 |
| Apr 8, 2026 | 37.0 | 15.3 | 21.0 | 30.8 | 69.3 | 75.5 | +0.1 |
| Apr 5, 2026 | 36.9 | 15.3 | 21.0 | 30.8 | 69.3 | 75.5 | -0.1 |
| Apr 2, 2026 | 37.0 | 15.3 | 21.0 | 30.8 | 69.3 | 75.7 | — |
IIIV — Pillar Breakdown
Quality
— 29.6/100 (25%)i3 Verticals, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 29.9/100 (20%)i3 Verticals, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 31.4/100 (15%)i3 Verticals, Inc. presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 79.5/100 (15%)i3 Verticals, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 21/100 (25%)i3 Verticals, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for IIIV.
Score Composition
Financial Data
More Stock Analysis
How is the IIIV UQS Score Calculated?
The UQS (Unified Quality Score) for i3 Verticals, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses i3 Verticals, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether i3 Verticals, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.