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Side-by-side financial comparison of BGM Group Ltd. (BGM) and i3 Verticals, Inc. (IIIV). Click either name above to swap in a different company.

i3 Verticals, Inc. is the larger business by last-quarter revenue ($52.7M vs $29.2M, roughly 1.8× BGM Group Ltd.). BGM Group Ltd. runs the higher net margin — 1.5% vs 0.9%, a 0.6% gap on every dollar of revenue.

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BGM vs IIIV — Head-to-Head

Bigger by revenue
IIIV
IIIV
1.8× larger
IIIV
$52.7M
$29.2M
BGM
Higher net margin
BGM
BGM
0.6% more per $
BGM
1.5%
0.9%
IIIV

Income Statement — Q2 FY2025 vs Q1 FY2026

Metric
BGM
BGM
IIIV
IIIV
Revenue
$29.2M
$52.7M
Net Profit
$439.4K
$484.0K
Gross Margin
7.9%
Operating Margin
0.7%
3.1%
Net Margin
1.5%
0.9%
Revenue YoY
-14.6%
Net Profit YoY
-76.5%
EPS (diluted)
$0.02

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
BGM
BGM
IIIV
IIIV
Q4 25
$52.7M
Q3 25
$46.0M
Q2 25
$51.9M
Q1 25
$29.2M
$63.1M
Q4 24
$52.2M
Q3 24
$22.8M
$32.0M
Q2 24
$46.2M
Q1 24
$32.1M
$58.0M
Net Profit
BGM
BGM
IIIV
IIIV
Q4 25
$484.0K
Q3 25
$3.1M
Q2 25
$12.9M
Q1 25
$439.4K
$-154.0K
Q4 24
$2.1M
Q3 24
$117.9M
Q2 24
$-7.5M
Q1 24
$249.7K
$1.9M
Gross Margin
BGM
BGM
IIIV
IIIV
Q4 25
Q3 25
Q2 25
Q1 25
7.9%
Q4 24
Q3 24
Q2 24
Q1 24
10.9%
Operating Margin
BGM
BGM
IIIV
IIIV
Q4 25
3.1%
Q3 25
3.2%
Q2 25
-9.3%
Q1 25
0.7%
8.0%
Q4 24
3.9%
Q3 24
-3.8%
10.6%
Q2 24
-2.8%
Q1 24
3.8%
3.4%
Net Margin
BGM
BGM
IIIV
IIIV
Q4 25
0.9%
Q3 25
6.7%
Q2 25
24.8%
Q1 25
1.5%
-0.2%
Q4 24
3.9%
Q3 24
368.2%
Q2 24
-16.3%
Q1 24
0.8%
3.2%
EPS (diluted)
BGM
BGM
IIIV
IIIV
Q4 25
$0.02
Q3 25
$0.14
Q2 25
$0.50
Q1 25
$0.00
Q4 24
$0.08
Q3 24
$4.93
Q2 24
$-0.32
Q1 24
$0.08

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BGM
BGM
IIIV
IIIV
Cash + ST InvestmentsLiquidity on hand
$9.7M
$37.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$182.1M
$358.5M
Total Assets
$207.4M
$595.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BGM
BGM
IIIV
IIIV
Q4 25
$37.5M
Q3 25
$66.7M
Q2 25
$55.5M
Q1 25
$9.7M
$7.7M
Q4 24
$85.6M
Q3 24
$599.4K
$86.5M
Q2 24
$9.7M
Q1 24
$10.3M
$3.1M
Total Debt
BGM
BGM
IIIV
IIIV
Q4 25
Q3 25
$0
Q2 25
$0
Q1 25
$12.0M
Q4 24
$26.2M
Q3 24
$26.2M
Q2 24
$374.1M
Q1 24
$369.6M
Stockholders' Equity
BGM
BGM
IIIV
IIIV
Q4 25
$358.5M
Q3 25
$389.6M
Q2 25
$383.3M
Q1 25
$182.1M
$385.2M
Q4 24
$375.0M
Q3 24
$9.8M
$379.7M
Q2 24
$249.7M
Q1 24
$43.4M
$249.3M
Total Assets
BGM
BGM
IIIV
IIIV
Q4 25
$595.9M
Q3 25
$638.4M
Q2 25
$623.3M
Q1 25
$207.4M
$646.4M
Q4 24
$726.2M
Q3 24
$26.0M
$730.7M
Q2 24
$861.7M
Q1 24
$49.9M
$625.8M
Debt / Equity
BGM
BGM
IIIV
IIIV
Q4 25
Q3 25
0.00×
Q2 25
0.00×
Q1 25
0.03×
Q4 24
0.07×
Q3 24
0.07×
Q2 24
1.50×
Q1 24
1.48×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BGM
BGM
IIIV
IIIV
Operating Cash FlowLast quarter
$14.1M
Free Cash FlowOCF − Capex
$13.8M
FCF MarginFCF / Revenue
26.2%
Capex IntensityCapex / Revenue
0.6%
Cash ConversionOCF / Net Profit
29.18×
TTM Free Cash FlowTrailing 4 quarters
$6.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BGM
BGM
IIIV
IIIV
Q4 25
$14.1M
Q3 25
$14.0M
Q2 25
$7.4M
Q1 25
$-27.1M
Q4 24
$11.5M
Q3 24
$-5.1M
$15.1M
Q2 24
$8.1M
Q1 24
$10.7M
Free Cash Flow
BGM
BGM
IIIV
IIIV
Q4 25
$13.8M
Q3 25
$13.5M
Q2 25
$6.8M
Q1 25
$-27.6M
Q4 24
$11.0M
Q3 24
$-5.1M
$14.6M
Q2 24
$7.2M
Q1 24
$9.9M
FCF Margin
BGM
BGM
IIIV
IIIV
Q4 25
26.2%
Q3 25
29.5%
Q2 25
13.1%
Q1 25
-43.8%
Q4 24
21.1%
Q3 24
-22.2%
45.6%
Q2 24
15.6%
Q1 24
17.1%
Capex Intensity
BGM
BGM
IIIV
IIIV
Q4 25
0.6%
Q3 25
0.9%
Q2 25
1.0%
Q1 25
0.8%
Q4 24
0.9%
Q3 24
0.0%
1.7%
Q2 24
1.9%
Q1 24
1.4%
Cash Conversion
BGM
BGM
IIIV
IIIV
Q4 25
29.18×
Q3 25
4.52×
Q2 25
0.57×
Q1 25
Q4 24
5.59×
Q3 24
0.13×
Q2 24
Q1 24
5.72×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

BGM
BGM

Other$17.4M60%
Cost of revenue$11.8M40%

IIIV
IIIV

License And Service$35.7M68%
Proprietary Payments Revenue$14.5M27%
Other Revenue$2.5M5%

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