i3 Verticals, Inc. (NASDAQ: IIIV)

i3 Verticals, Inc. (IIIV) is a software company that specializes in building, acquiring, and growing software solutions in strategic vertical markets. The company operates in two main segments: Software and Services, and Merchant Services. i3 Verticals has established a strong presence in its target markets, with a focus on vertical markets such as Public Sector, Healthcare, and Education.

The Software and Services segment delivers vertical market software solutions to customers across all of its strategic vertical markets. These solutions often include embedded payments or other recurring services. The company's software products and solutions are designed to meet the specific needs of its customers, and are used by a wide range of entities, from small businesses to large organizations. The Merchant Services segment provides comprehensive payment solutions to businesses and organizations, including traditional merchant processing services, as well as integrated payment solutions that are designed to work seamlessly with the company's software products and services.

i3 Verticals operates in a number of strategic vertical markets, including Public Sector, Healthcare, and Education. The Public Sector vertical serves state and local governments, providing software solutions for a wide range of functions, including court management, motor vehicle registration, and utility billing. The Healthcare vertical serves healthcare providers and payers, providing software solutions for electronic health records, revenue cycle management, and patient engagement. The Education vertical serves educational institutions, providing software solutions for student information systems, financial aid management, and human resources management.

The company has a strong track record of growth, with revenue increasing from $10.4 million in 2012 to $134.1 million in 2022. i3 Verticals has also made several strategic acquisitions over the years, expanding its product and service offerings and increasing its market share. One of the company's key competitive advantages is its focus on vertical markets, allowing it to provide customized solutions that meet the unique needs of its customers. This approach has helped i3 Verticals differentiate itself from its competitors and establish a strong presence in its target markets.

i3 Verticals' payment technology platforms include an API suite that provides access to traditional merchant processing, ACH processing, and payment facilitator merchant processing capabilities. The platform APIs allow access to Europay, Mastercard, and Visa (EMV) devices using an implementation that shields software providers from the requirements of PCI or payment application data security standard certifications.

The company has a strong focus on cybersecurity and data protection, with a dedicated team responsible for ensuring the security and integrity of its systems and data. i3 Verticals uses a variety of security measures, including firewalls, intrusion detection and prevention systems, and encryption, to protect its systems and data from unauthorized access or use.

i3 Verticals' software and payment solutions are used by a diverse customer base, with customers in a wide range of industries and sectors. The company's largest customers include state and local governments, healthcare providers, and educational institutions. In terms of its competitive position, i3 Verticals operates in a highly competitive market, with a number of other companies offering similar software and payment solutions. However, the company's focus on vertical markets and its ability to provide customized solutions that meet the specific needs of its customers have helped it to differentiate itself from its competitors.

i3 Verticals' brand names and/or trade names of its products and services include its payment technology platforms, which provide access to traditional merchant processing, ACH processing, and payment facilitator merchant processing capabilities. The platform APIs allow access to EMV devices using an implementation that shields software providers from the requirements of PCI or payment application data security standard certifications.