i3 Verticals' Full-Year Guidance Falls Short of Estimates Despite In-Line Q2 Revenue
IIIV sits 15% above its 52-week low of $19.89.
Summary
i3 Verticals reported Q2 revenue of $57.518 million, which was essentially in-line with analyst estimates of $57.5 million. However, the company's full-year guidance for key financial metrics, including adjusted EBITDA, revenue, and adjusted EPS, all came in slightly below consensus estimates. The midpoint of the FY adjusted EBITDA outlook ($63 million) is just below the $63.1 million estimate, the FY revenue outlook midpoint ($225 million) is below the $227.9 million estimate, and the FY adjusted EPS midpoint ($1.12) is below the $1.13 estimate. This mixed report, with an in-line Q2 but a slightly softer forward outlook, is material for traders as it may lead to adjustments in valuation models and potentially some downward pressure on the stock.
At the time of this announcement, IIIV was trading at $22.91 on NASDAQ in the Technology sector, with a market capitalization of approximately $698.2M. The 52-week trading range was $19.89 to $33.97. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.