Software & Related Services Revenue was i3 Verticals’s largest product and service line in fiscal 2025, bringing in $149.04M of $213.16M (70%).
| Product and Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Software & Related Services Revenue | $141.48M | $134.39M | $131.92M | $149.04M | ||
| Payments Revenue | — | — | — | — | ||
| Proprietary Payments Revenue | $36.01M | $46.52M | $50.07M | $54.06M | ||
| Other Revenue | $10.27M | $8.77M | $9.24M | $10.06M | ||
| Total | $187.75M | $189.68M | $191.23M | $213.16M |
i3 Verticals brought in $213.16M from its three product and service lines in fiscal 2025, the year ended September 30, 2025. That was up 11.5% from $191.23M in fiscal 2024. Software & Related Services Revenue was the largest at $149.04M (69.9%), ahead of Proprietary Payments Revenue at $54.06M (25.4%) and Other Revenue at $10.06M (4.7%).
Compared with fiscal 2024, Software & Related Services Revenue grew fastest, up 13.0% to $149.04M. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $187.75M to $213.16M, a compound annual growth rate of 4.3%. Software & Related Services Revenue's share of the total fell from 75.4% to 69.9%.
Revenue Earned Over Time was i3 Verticals’s largest revenue line in fiscal 2025, bringing in $193.53M of $213.16M (91%).
| Timing of Transfer of Good or Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Revenue Earned Over Time | $167.79M | $170.44M | $176.72M | $193.53M | ||
| Revenue Earned At A Point In Time | $19.96M | $19.25M | $14.51M | $19.63M | ||
| Total | $187.75M | $189.68M | $191.23M | $213.16M |
i3 Verticals brought in $213.16M from its two revenue lines in fiscal 2025, the year ended September 30, 2025. That was up 11.5% from $191.23M in fiscal 2024. Revenue Earned Over Time was the largest at $193.53M (90.8%), ahead of Revenue Earned At A Point In Time at $19.63M (9.2%).
Compared with fiscal 2024, Revenue Earned At A Point In Time grew 35.3% to $19.63M and Revenue Earned Over Time grew 9.5% to $193.53M. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $187.75M to $213.16M, a compound annual growth rate of 4.3%. Revenue Earned Over Time's share of the total rose from 89.4% to 90.8%.
i3 Verticals (IIIV) reports its revenue by product and service and by timing of transfer of good or service. In fiscal 2025, Software & Related Services Revenue was its largest product and service line, bringing in $149.04M (69.9% of the total), followed by Proprietary Payments Revenue at $54.06M (25.4%).
Software & Related Services Revenue was i3 Verticals' largest product and service line in fiscal 2025, bringing in $149.04M, or 69.9% of the $213.16M total across its three product and service lines.
Revenue Earned Over Time was i3 Verticals' largest revenue line in fiscal 2025, bringing in $193.53M, or 90.8% of the $213.16M total across its two revenue lines.
Among i3 Verticals' product and service lines that make up at least 2% of revenue, Software & Related Services Revenue grew fastest in fiscal 2025, up 13.0% from $131.92M to $149.04M.
Every figure comes from i3 Verticals' annual financial filings, as reported. Each line keeps the name i3 Verticals gives it, and years follow its fiscal calendar.
i3 Verticals' revenue by product and service goes back to fiscal 2020, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.