i3 Verticals, Inc. reported its financial results for the fiscal second quarter ended March 31, 2025, on May 8, 2025. Revenue from continuing operations increased 9% year-over-year to $63.059 million. Net income from continuing operations attributable to i3 Verticals, Inc. was $0.073 million, an improvement from a loss of $(1.709) million in Q2 2024.
Diluted earnings per share from continuing operations for the quarter were $0.00, compared to a loss of $(0.07) in the prior year period. The company also announced the completion of an acquisition of a Utility Billing Software Company on April 1, 2025, further expanding its public sector utility offerings.
The report confirmed the completion of the divestiture of its Healthcare Revenue Cycle Management (RCM) business, a strategic move to focus on the public sector. This divestiture led to a revision of the company's fiscal year 2025 outlook for RemainCo operations.
The revised outlook for fiscal year 2025 projects revenues between $207 million and $217 million, down from the previous range of $243 million to $263 million. Adjusted EBITDA is now expected to be between $55 million and $61 million, a reduction from the prior guidance of $63 million to $71.5 million.
Adjusted diluted earnings per share for fiscal year 2025 are now anticipated to be between $0.96 and $1.06, compared to the previous range of $1.05 to $1.25. These revisions reflect the impact of the RCM business divestiture and the company's sharpened focus on its core public sector operations.
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