02:45 PM EDT, 05/10/2024 (MT Newswires) -- i3 Verticals ( IIIV ) shares fell more than 5% in recent Friday trading after the company reported fiscal Q2 results that missed market expectations and lowered its fiscal year 2024 guidance.

Earlier, the company reported fiscal Q2 adjusted earnings of $0.34 per diluted share, down from $0.38 a year earlier.

Analysts surveyed by Capital IQ expected $0.37.

Revenue for the quarter ended March 31 was $94.5 million, up from $93.9 million a year earlier.

Analysts surveyed by Capital IQ expected $98.5 million.

i3 Verticals ( IIIV ) expects fiscal 2024 adjusted EPS of $1.49 to $1.57, versus its prior outlook of $1.52 to $1.64. Analysts surveyed by Capital IQ expected $1.59.

The company expects revenue for the year of $380 million to $394 million, against $385 million to $400 million previously. Analysts expected $393.9 million.

Price: 20.99, Change: -1.18, Percent Change: -5.32