i3 Verticals, Inc. Goodwill & Intangibles Disclosure
| Total | |||||
Balance at September 30, 2023(1) | $ | 230,293 | |||
| Goodwill attributable to preliminary purchase price adjustments and acquisition activity during the year ended September 30, 2024 | 12,695 | ||||
Balance at September 30, 2024(1) | 242,988 | ||||
| Goodwill attributable to preliminary purchase price adjustments and acquisition activity during the year ended September 30, 2025 | 5,481 | ||||
| Balance at September 30, 2025 | $ | 248,469 | |||
| Cost | Accumulated Amortization | Carrying Value | Amortization Life and Method | ||||||||||||||||||||
| Finite-lived intangible assets: | |||||||||||||||||||||||
| Customer relationships | $ | 179,650 | $ | (44,592) | $ | 135,057 | 9 to 20 years – straight-line | ||||||||||||||||
| Trade names | 3,691 | (3,060) | 631 | 2 to 5 years – straight-line | |||||||||||||||||||
| Non-compete agreements and other intangible assets | 376 | (283) | 93 | 1 to 8 years – straight-line | |||||||||||||||||||
| Total finite-lived intangible assets | 183,717 | (47,936) | 135,781 | ||||||||||||||||||||
| Indefinite-lived intangible assets: | |||||||||||||||||||||||
| Trademarks | 16 | — | 16 | ||||||||||||||||||||
| Total identifiable intangible assets | $ | 183,733 | $ | (47,936) | $ | 135,797 | |||||||||||||||||
| Cost | Accumulated Amortization | Carrying Value | Amortization Life and Method | ||||||||||||||||||||
| Finite-lived intangible assets: | |||||||||||||||||||||||
| Customer relationships | $ | 173,340 | $ | (34,080) | $ | 139,260 | 9 to 20 years – straight-line | ||||||||||||||||
| Trade names | 3,591 | (2,286) | 1,305 | 2 to 5 years – straight-line | |||||||||||||||||||
| Non-compete agreements and other intangible assets | 359 | (193) | 166 | 3 to 8 years – straight-line | |||||||||||||||||||
| Total finite-lived intangible assets | 177,290 | (36,559) | 140,731 | ||||||||||||||||||||
| Indefinite-lived intangible assets: | |||||||||||||||||||||||
| Trademarks | 17 | — | 17 | ||||||||||||||||||||
| Total identifiable intangible assets | $ | 177,307 | $ | (36,559) | $ | 140,748 | |||||||||||||||||
| 2026 | $ | 11,222 | |||
| 2027 | 10,954 | ||||
| 2028 | 10,766 | ||||
| 2029 | 10,739 | ||||
| 2030 | 10,694 | ||||
| Thereafter | 81,406 | ||||
| $ | 135,781 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 21, 2025 | Showing above |
| 2020 | Nov 23, 2020 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.