| Sep'19 | Sep'18 | Sep'17 | Sep'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss (income) | ||||||
563 | -4,961 | 902 | -2,093 | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
16,564 | 11,839 | 10,085 | 9,898 | |||
Equity-based compensation | ||||||
6,124 | 1,567 | 0 | 0 | |||
Provision for doubtful accounts | ||||||
30 | 14 | 216 | 48 | |||
Amortization of deferred financing costs | ||||||
721 | 1,072 | 453 | 443 | |||
Debt extinguishment costs | ||||||
-152 | 0 | 0 | - | |||
Loss on disposal of assets | ||||||
-8 | -5 | -44 | -4 | |||
(Benefit from) provision for deferred income taxes | ||||||
-586 | -682 | 56 | -3 | |||
Non-cash change in fair value of warrant liability | ||||||
0 | 8,487 | -415 | -28 | |||
Increase in non-cash contingent consideration expense from original estimate | ||||||
3,389 | 3,866 | -218 | 2,458 | |||
Changes in operating assets: | ||||||
Accounts receivable | ||||||
-2,430 | 2,321 | 2,432 | 1,182 | |||
Prepaid expenses and other current assets | ||||||
817 | -1,017 | -305 | 563 | |||
Other assets | ||||||
2,769 | 3,182 | -9 | 142 | |||
Changes in operating liabilities: | ||||||
Accounts payable | ||||||
-1,768 | 1,172 | -384 | 509 | |||
Accrued expenses and other current liabilities | ||||||
1,572 | 2,040 | 1,515 | 806 | |||
Deferred revenue | ||||||
2,588 | -123 | 388 | 548 | |||
Other long-term liabilities | ||||||
-44 | 362 | 40 | -32 | |||
Contingent consideration paid in excess of original estimates | ||||||
1,560 | 2,092 | 2,234 | 666 | |||
Net cash provided by operating activities | ||||||
26,597 | 18,080 | 8,330 | 10,005 | |||
Cash flows from investing activities: | ||||||
Expenditures for property and equipment | ||||||
807 | 2,217 | 636 | 862 | |||
Expenditures for capitalized software | ||||||
2,227 | 1,092 | 1,452 | 1,992 | |||
Purchases of merchant portfolios and residual buyouts | ||||||
3,586 | 1,207 | 1,632 | 0 | |||
Acquisitions of businesses, net of cash acquired | ||||||
137,036 | 32,362 | 44,175 | 32,277 | |||
Acquisition of other intangibles | ||||||
72 | 1,177 | 8 | 23 | |||
Net cash used in investing activities | ||||||
-143,728 | -38,055 | -47,903 | -35,154 | |||
Cash flows from financing activities: | ||||||
Proceeds from revolving credit facility | ||||||
188,491 | 27,250 | 56,500 | 55,600 | |||
Payments of revolving credit facility | ||||||
51,867 | 95,600 | 23,900 | 33,600 | |||
Proceeds from notes payable to banks | ||||||
0 | 24,671 | 0 | 6,500 | |||
Payments of notes payable to banks | ||||||
35,000 | 5,000 | 5,000 | 2,800 | |||
Payment of notes payable to Mezzanine Lenders | ||||||
0 | 10,486 | 0 | 0 | |||
Payment of unsecured notes payable to related and unrelated creditors | ||||||
0 | 5,489 | 0 | 0 | |||
Payment of debt issuance costs | ||||||
168 | 266 | 254 | 876 | |||
Proceeds from the exercise of Mezzanine Warrants and Junior Subordinated Notes Warrants | ||||||
0 | 270 | 0 | 0 | |||
Proceeds from issuance of Class A common | ||||||
111,687 | 0 | 12,500 | 9,000 | |||
Proceeds from issuance of Class A common stock sold in initial public offering, net of underwriting discounts and offering costs | ||||||
0 | 89,506 | 0 | - | |||
Payments for Common Units in i3 Verticals, LLC from selling shareholders | ||||||
90,027 | 4,635 | 0 | 0 | |||
Payment of equity issuance costs for Class A unit issuance | ||||||
0 | 0 | 64 | 68 | |||
Cash paid for contingent consideration | ||||||
2,634 | 977 | 966 | 4,776 | |||
Payments for required distributions to members for tax obligations | ||||||
2,060 | 0 | 1,464 | 56 | |||
Proceeds from stock option exercises | ||||||
672 | 0 | 0 | - | |||
Net cash (used in) provided by financing activities | ||||||
119,094 | 19,244 | 37,352 | 28,924 | |||
Net (decrease) increase in cash, cash equivalents and restricted cash | ||||||
1,963 | -731 | -2,221 | 3,775 | |||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
4,911 | 7,881 | 6,288 | 5,386 | |||
Cash paid for income taxes | ||||||
1,420 | 483 | 837 | 21 | |||
Class A | ||||||
Net (loss) income | ||||||
563 | - | - | - | |||