i3 Verticals, Inc.

Good day everyone and welcome to the I3 Vertical's first quarter 2025 earnings conference call. Today's call is being recorded and a replay will be available starting today through February 14. The number for the replay is 877-344-7529 and the code is 536-8210. The replay may also be accessed for 30 days at the company's website. Should you need assistance, please signal a conference specialist by pressing the start key followed by zero on your telephone keypad. At this time for opening remarks, I would like to turn the call over to Clay Whitson, Chief Strategy Officer. Please go ahead, sir.

Good morning and welcome to the first quarter 2025 conference call for I3 Verticals. Joining me on this call are Greg Daley, Chairman and CEO, Rick Stanford, President, Jeff Smith, CFO, Paul Christians, our Chief Revenue Officer. To the extent any non-GAAP financial measure is discussed in today's call, you will also find a reconciliation to the most directly comparable GAAP financial measure by reviewing yesterday's earnings release. It is the company's intent to provide non-GAAP financial information to enhance understanding of its consolidated GAAP financial information. This non-GAAP financial information should be considered by each individual in addition to, but not instead of, the GAAP financial statements. This conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements among others regarding the company's expected financial and operating performance. For this purpose, any statements made during this call that are not statements of historical fact may be deemed to be forward-looking statements. You are hereby cautioned that these forward-looking statements may be affected by important factors among others set forth in the company's earnings release and in reports that are filed or furnished to the SEC. Consequently, actual operations and results may differ materially from those discussed in the forward-looking statements. Finally, the information shared on this call is valid as of today's date, and the company undertakes no obligation to update it except as may be required under applicable law. I will now turn the call over to the company's chairman and CEO, Greg Daly.

Thanks, Clay, and good morning to all of you on the call. We're excited with our start to fiscal year 2025. Allow me to share some highlights. Revenue was up 12% over prior years Q1. And adjusted EBITDA was up 17%. SAS revenue grew at 16%. We are pleased to see the fruit of our emphasis on SAS. We expect that to continue to drive ARR growth. Paul will share more details on what's driving revenue growth later, but I want to highlight one of the most promising long-term opportunities. We continue to uncover new opportunities to integrate payments within our vertical market software base. This has been a longstanding strength, and by retaining our proprietary payment facilitating platform, we have ensured we are well positioned to capitalize on opportunities in key markets, such as utilities and permitting. I will now turn the call over to Jeff, and he will provide more detail on financial performance. When he's finished, Rick will add commentary on M&A, and finally, Paul will discuss revenue, and then we'll open up the call for questions.