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

Ellington Financial Inc. is the larger business by last-quarter revenue ($78.2M vs $52.7M, roughly 1.5× i3 Verticals, Inc.). Ellington Financial Inc. runs the higher net margin — 28.9% vs 0.9%, a 28.0% gap on every dollar of revenue. On growth, Ellington Financial Inc. posted the faster year-over-year revenue change (8.7% vs -14.6%). Over the past eight quarters, Ellington Financial Inc.'s revenue compounded faster (1.8% CAGR vs -4.7%).

Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.

The Prusa i3 is a family of fused filament fabrication 3D printers, manufactured by Czech company Prusa Research under the trademarked name Original Prusa i3. Part of the RepRap project, Prusa i3 printers were called the most used 3D printer in the world in 2016. The first Prusa i3 was designed by Josef Průša in 2012, and was released as a commercial kit product in 2015. The latest model is available in both kit and factory assembled versions. The Prusa i3's comparable low cost and ease of co...

EFC vs IIIV — Head-to-Head

Bigger by revenue
EFC
EFC
1.5× larger
EFC
$78.2M
$52.7M
IIIV
Growing faster (revenue YoY)
EFC
EFC
+23.3% gap
EFC
8.7%
-14.6%
IIIV
Higher net margin
EFC
EFC
28.0% more per $
EFC
28.9%
0.9%
IIIV
Faster 2-yr revenue CAGR
EFC
EFC
Annualised
EFC
1.8%
-4.7%
IIIV

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
EFC
EFC
IIIV
IIIV
Revenue
$78.2M
$52.7M
Net Profit
$22.6M
$484.0K
Gross Margin
Operating Margin
7.4%
3.1%
Net Margin
28.9%
0.9%
Revenue YoY
8.7%
-14.6%
Net Profit YoY
-26.2%
-76.5%
EPS (diluted)
$0.10
$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
EFC
EFC
IIIV
IIIV
Q4 25
$78.2M
$52.7M
Q3 25
$82.8M
$46.0M
Q2 25
$92.5M
$51.9M
Q1 25
$82.9M
$63.1M
Q4 24
$72.0M
$52.2M
Q3 24
$67.0M
$32.0M
Q2 24
$91.2M
$46.2M
Q1 24
$75.5M
$58.0M
Net Profit
EFC
EFC
IIIV
IIIV
Q4 25
$22.6M
$484.0K
Q3 25
$29.5M
$3.1M
Q2 25
$42.9M
$12.9M
Q1 25
$31.6M
$-154.0K
Q4 24
$30.7M
$2.1M
Q3 24
$16.2M
$117.9M
Q2 24
$52.3M
$-7.5M
Q1 24
$26.9M
$1.9M
Operating Margin
EFC
EFC
IIIV
IIIV
Q4 25
7.4%
3.1%
Q3 25
31.1%
3.2%
Q2 25
38.3%
-9.3%
Q1 25
37.3%
8.0%
Q4 24
28.0%
3.9%
Q3 24
24.0%
10.6%
Q2 24
52.8%
-2.8%
Q1 24
42.2%
3.4%
Net Margin
EFC
EFC
IIIV
IIIV
Q4 25
28.9%
0.9%
Q3 25
35.7%
6.7%
Q2 25
46.4%
24.8%
Q1 25
38.2%
-0.2%
Q4 24
42.6%
3.9%
Q3 24
24.1%
368.2%
Q2 24
57.4%
-16.3%
Q1 24
35.6%
3.2%
EPS (diluted)
EFC
EFC
IIIV
IIIV
Q4 25
$0.10
$0.02
Q3 25
$0.29
$0.14
Q2 25
$0.45
$0.50
Q1 25
$0.35
$0.00
Q4 24
$0.23
$0.08
Q3 24
$0.19
$4.93
Q2 24
$0.62
$-0.32
Q1 24
$0.32
$0.08

Balance Sheet & Financial Strength

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

Metric
EFC
EFC
IIIV
IIIV
Cash + ST InvestmentsLiquidity on hand
$201.9M
$37.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.8B
$358.5M
Total Assets
$19.4B
$595.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
EFC
EFC
IIIV
IIIV
Q4 25
$201.9M
$37.5M
Q3 25
$184.8M
$66.7M
Q2 25
$211.0M
$55.5M
Q1 25
$203.3M
$7.7M
Q4 24
$192.4M
$85.6M
Q3 24
$217.7M
$86.5M
Q2 24
$198.5M
$9.7M
Q1 24
$187.5M
$3.1M
Total Debt
EFC
EFC
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
EFC
EFC
IIIV
IIIV
Q4 25
$1.8B
$358.5M
Q3 25
$1.8B
$389.6M
Q2 25
$1.7B
$383.3M
Q1 25
$1.6B
$385.2M
Q4 24
$1.6B
$375.0M
Q3 24
$1.6B
$379.7M
Q2 24
$1.6B
$249.7M
Q1 24
$1.5B
$249.3M
Total Assets
EFC
EFC
IIIV
IIIV
Q4 25
$19.4B
$595.9M
Q3 25
$17.8B
$638.4M
Q2 25
$17.1B
$623.3M
Q1 25
$16.6B
$646.4M
Q4 24
$16.3B
$726.2M
Q3 24
$16.0B
$730.7M
Q2 24
$15.1B
$861.7M
Q1 24
$15.1B
$625.8M
Debt / Equity
EFC
EFC
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
EFC
EFC
IIIV
IIIV
Operating Cash FlowLast quarter
$-925.5M
$14.1M
Free Cash FlowOCF − Capex
$13.8M
FCF MarginFCF / Revenue
26.2%
Capex IntensityCapex / Revenue
0.0%
0.6%
Cash ConversionOCF / Net Profit
-40.92×
29.18×
TTM Free Cash FlowTrailing 4 quarters
$6.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
EFC
EFC
IIIV
IIIV
Q4 25
$-925.5M
$14.1M
Q3 25
$-290.4M
$14.0M
Q2 25
$-210.5M
$7.4M
Q1 25
$-126.4M
$-27.1M
Q4 24
$-430.5M
$11.5M
Q3 24
$-141.7M
$15.1M
Q2 24
$-88.6M
$8.1M
Q1 24
$-59.5M
$10.7M
Free Cash Flow
EFC
EFC
IIIV
IIIV
Q4 25
$13.8M
Q3 25
$13.5M
Q2 25
$6.8M
Q1 25
$-27.6M
Q4 24
$11.0M
Q3 24
$14.6M
Q2 24
$7.2M
Q1 24
$9.9M
FCF Margin
EFC
EFC
IIIV
IIIV
Q4 25
26.2%
Q3 25
29.5%
Q2 25
13.1%
Q1 25
-43.8%
Q4 24
21.1%
Q3 24
45.6%
Q2 24
15.6%
Q1 24
17.1%
Capex Intensity
EFC
EFC
IIIV
IIIV
Q4 25
0.0%
0.6%
Q3 25
0.9%
Q2 25
1.0%
Q1 25
0.8%
Q4 24
0.0%
0.9%
Q3 24
0.0%
1.7%
Q2 24
0.0%
1.9%
Q1 24
0.0%
1.4%
Cash Conversion
EFC
EFC
IIIV
IIIV
Q4 25
-40.92×
29.18×
Q3 25
-9.84×
4.52×
Q2 25
-4.90×
0.57×
Q1 25
-3.99×
Q4 24
-14.04×
5.59×
Q3 24
-8.76×
0.13×
Q2 24
-1.69×
Q1 24
-2.21×
5.72×

Financial Flow Comparison

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

Revenue Breakdown by Segment

EFC
EFC

Segment breakdown not available.

IIIV
IIIV

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

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