2 Revenue Composition ($ in thousands) Quarter Ended December 31, 2022 September 30, 2022 June 30, 2022 March 31, 2022 December 31, 2021 September 30, 2021 June 30, 2021 March 31, 2021 Software and related service revenue SaaS(1) $ 9,230 $ 8,833 $ 8,450 $ 7,899 $ 6,310 $ 6,173 $ 6,107 $ 5,632 Transaction-based(2) 3,331 3,137 3,253 2,642 2,325 2,081 2,144 1,393 Maintenance(3) 7,417 5,600 5,720 5,672 5,897 5,776 5,644 2,849 Recurring software services(4) 10,164 10,945 10,768 11,107 10,311 3,237 3,587 3,952 Professional services(5) 9,775 8,492 8,743 8,251 9,386 9,086 7,630 3,371 Software licenses 1,197 3,485 2,072 3,401 2,109 2,375 1,707 561 Total $ 41,114 $ 40,492 $ 39,006 $ 38,972 $ 36,338 $ 28,728 $ 26,819 $ 17,758 Year-over-year growth 13 % 41 % 45 % 119 % Payments revenue $ 40,354 $ 39,775 $ 36,683 $ 34,528 $ 33,466 $ 33,510 $ 32,223 $ 28,337 Year-over-year growth 21 % 19 % 14 % 22 % Other revenue Recurring(6) $ 2,045 $ 2,001 $ 1,792 $ 1,780 $ 1,802 $ 1,923 $ 1,516 $ 1,166 Other 2,516 2,982 3,072 2,840 2,333 3,016 2,571 1,936 Total $ 4,561 $ 4,983 $ 4,864 $ 4,620 $ 4,135 $ 4,939 $ 4,087 $ 3,102 Year-over-year growth 10 % 1 % 19 % 49 % Total revenue $ 86,029 $ 85,250 $ 80,553 $ 78,120 $ 73,939 $ 67,177 $ 63,129 $ 49,197 Recurring revenue(7) $ 72,541 $ 70,291 $ 66,666 $ 63,628 $ 60,111 $ 52,700 $ 51,221 $ 43,329 Annualized Recurring Revenue “ARR”(8) Software and related service revenue $ 120,568 $ 114,060 $ 112,764 $ 109,280 $ 99,372 $ 69,068 $ 69,928 $ 55,304 Payments revenue 161,416 159,100 146,732 138,112 133,864 134,040 128,892 113,348 Other revenue 8,180 8,004 7,168 7,120 7,208 7,692 6,064 4,664 Total ARR $ 290,164 $ 281,164 $ 266,664 $ 254,512 $ 240,444 $ 210,800 $ 204,884 $ 173,316 Year-over-year growth 21 % 33 % 30 % 47 % See footnotes continued on the next slide
5 2023財年第一季度部門業績(1)(以千美元為單位)截至12月31日的三個月,2022年2021年收入商業服務$32,834$29,177 13%軟件和服務53,213 44,774 19%其他(18)(12)50%總計$86,029$73,939 16%調整後的EBITDA(2)商業服務$9,384$8,655 8%軟件和服務18,862 13,637 38%其他(4,641)(4,031)(15)%總計$23,605$18,261 29%批量商業服務$5,261,839$4,819,854 9%軟件和服務總計$5,914,015$5,949 11%1.i3垂直市場有兩個細分市場,“商業服務”和“軟件和服務”。I3 Verticals還有一個“其他”類別,包括企業管理費用。2.調整後的EBITDA是一項非公認會計準則財務計量。關於非公認會計準則財務指標的對賬,請參閲以下幻燈片。
6 ($ in thousands) Three months ended December 31, 2022 Three months ended December 31, 2021 Merchant Services Software and Services Other Total Merchant Services Software and Services Other Total Income (loss) from operations $ 7,017 $ 11,214 $ (12,393) $ 5,838 $ 5,615 $ 4,987 $ (11,357) $ (755) Interest expense, net — — 5,490 5,490 — — 3,154 3,154 Other income — — (203) (203) — — — — Provision for (benefit from) income taxes — — 382 382 — — (228) (228) Net income (loss) 7,017 11,214 (18,062) 169 5,615 4,987 (14,283) (3,681) Non-GAAP Adjustments: Provision for (benefit from) income taxes — — 382 382 — — (228) (228) Non-cash change in fair value of contingent consideration(1) 13 1,430 — 1,443 590 4,337 — 4,927 Equity-based compensation(2) — — 6,846 6,846 — — 6,624 6,624 Acquisition-related expenses(3) — — 727 727 — — 508 508 Acquisition intangible amortization(4) 2,031 4,701 — 6,732 2,145 3,531 — 5,676 Non-cash interest(5) — — 361 361 — — 1,416 1,416 Other taxes(6) 5 9 61 75 5 32 50 87 Gain on investment(7) — — (203) (203) — — — — Non-GAAP adjusted income (loss) before taxes 9,066 17,354 (9,888) 16,532 8,355 12,887 (5,913) 15,329 Pro forma taxes at effective tax rate(8) (2,267) (4,339) 2,473 (4,133) (2,089) (3,221) 1,478 (3,832) Pro forma adjusted net income (loss)(9) 6,799 13,015 (7,415) 12,399 6,266 9,666 (4,435) 11,497 Plus: Cash interest expense, net(10) — — 5,129 5,129 — — 1,738 1,738 Pro forma taxes at effective tax rate(8) 2,267 4,339 (2,473) 4,133 2,089 3,221 (1,478) 3,832 Depreciation and internally developed software amortization(11) 318 1,508 118 1,944 300 750 144 1,194 Adjusted EBITDA $ 9,384 $ 18,862 $ (4,641) $ 23,605 $ 8,655 $ 13,637 $ (4,031) $ 18,261 See footnotes continued on the next slide The reconciliation of our quarterly income (loss) from operations to non-GAAP pro forma adjusted net income (loss) and non-GAAP adjusted EBITDA: Reconciliation of Non-GAAP Financial Measures