Financial Data and Key Metrics Changes - Total reported revenue for Q2 2024 was $177.4 million, up 4.3% year-over-year, exceeding the top end of guidance and marking the highest quarterly revenue on record [20][22] - Adjusted EBITDA was $41.2 million, representing a 23.2% margin, which is an increase from 22.8% in Q2 2023 [22] - Pro forma revenue growth, excluding the North American fitness assets sold, was 6% year-over-year [21] - Adjusted gross profit was $116.1 million, with a gross margin of 65.4%, slightly down from 65.8% in Q2 2023 [22] Business Line Data and Key Metrics Changes - Payments revenue, excluding fitness solutions, grew 8% year-over-year, driven by an 8.4% growth in total payment volume (TPV) [7][11] - Subscription and transaction revenue was $137 million, up 5.2% from the prior year period [20] - Marketing technology solutions revenue was $35 million, up 1.6% year-over-year, indicating a return to growth after previous declines [20][21] Market Data and Key Metrics Changes - The company ended the quarter with approximately $12.1 billion in annualized TPV, reflecting an 8.4% year-over-year growth [11] - The number of customers enabled for more than one solution grew by 25% year-over-year, reaching 199,000 [9] - Active utilization of more than one solution increased by 60% year-over-year, with approximately 87,000 customers actively using multiple solutions [10] Company Strategy and Development Direction - The company is focused on balanced profitability and has increased its share repurchase authorization by $50 million, extending the program through the end of 2025 [7][25] - A transformation and optimization program is underway, aimed at consolidating spend and enhancing operational efficiencies [17][18] - The company is prioritizing investments in its core software solutions and cross-sell opportunities, particularly in payments and the newly launched EverPro Edge [12][15] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic conditions have remained stable, with no significant changes impacting revenue [30] - The company expects continued growth in TPV and payment revenue, with a focus on optimizing pricing and enhancing customer value [31][52] - For Q3 2024, the company anticipates total revenue between $172 million and $176 million, maintaining its full-year guidance [26][27] Other Important Information - The company appointed Ryan Siurek as the new Chief Financial Officer, effective September 6, 2024, following Marc Thompson's departure [19] - The company has maintained a strong free cash flow generation, with levered free cash flow of $19 million for the quarter, down 16% year-over-year due to working capital changes [24][25] Q&A Session Summary Question: Marketing technology solutions growth - Management indicated that the 1.6% growth in marketing technology solutions was a mix of execution and macro factors, with stabilization expected [30] Question: Payments revenue growth alignment with TPV - Management explained that the convergence of payments revenue growth with TPV growth is due to ongoing optimization of pricing and customer relationships [31] Question: Optimization initiatives progress - Management confirmed that optimization initiatives are on track and will continue under the new CFO, with expected impacts materializing in 2025 [34][35] Question: Net retention rate dynamics - Management noted that the net revenue retention rate remains stable, with some impact from prior pricing increases but overall consistency in retention dynamics [37][38] Question: Capital allocation strategy - Management emphasized a focus on internal investments and share repurchases, while remaining open to external opportunities if they align with strategic goals [48] Question: EverHealth consolidation progress - Management reported good progress in the EverHealth consolidation, with improvements in customer acquisition and payment enablement [64][65]

For the quarter ended June 2024, EverCommerce (EVCM) reported revenue of $177.39 million, up 4.3% over the same period last year. EPS came in at -$0.02, compared to $0.03 in the year-ago quarter. The reported revenue represents a surprise of +3.19% over the Zacks Consensus Estimate of $171.91 million. With the consensus EPS estimate being -$0.01, the EPS surprise was -100.00%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

EverCommerce (EVCM) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this business software company would post a loss of $0.06 per share when it actually produced a loss of $0.09, delivering a surprise of -50%. Over the last four quarters, the co ...

Core Viewpoint - EverCommerce Inc. is set to report its second quarter 2024 financial results on August 6, 2024, after the U.S. financial markets close [1] Group 1: Financial Reporting - The financial results will be discussed in a conference call scheduled for August 6 at 5:00 p.m. Eastern Time [2] - Access to the conference call will be available via the Company's Investor Relations page, with a replay archived on the website [2] Group 2: Company Overview - EverCommerce is a leading service commerce platform that provides integrated SaaS solutions for over 690,000 service-based businesses globally [3] - The Company specializes in vertical markets such as Home, Health, and Wellness through its brands EverPro, EverHealth, and EverWell [3] - EverCommerce offers end-to-end business management software, payment acceptance, marketing technology, and customer experience applications [3]

DENVER, July 17, 2024 (GLOBE NEWSWIRE) -- EverCommerce Inc. (NASDAQ: EVCM), a leading provider of SaaS solutions for service SMBs, will report its second quarter 2024 financial results after the U.S. financial markets close on Tuesday, August 6, 2024. Management will host a conference call on Tuesday, August 6 at 5:00 p.m. Eastern Time / 3:00 p.m. Mountain Time to discuss the Company's financial results and provide a business update. Please visit the "Investor Relations" page of the Company's website (https ...

ir@evercommerce.com DENVER, May 22, 2024 (GLOBE NEWSWIRE) -- EverCommerce Inc. (NASDAQ: EVCM), a leading provider of SaaS solutions for service SMBs, today announced that its Board of Directors has approved a $50 million increase to its previously approved share repurchase program. Under the authorization, which the Board has extended through December 31, 2025, the company may opportunistically repurchase up to $200 million of its common shares. Through May 21, 2024, the company has purchased approximately ...

DENVER, May 22, 2024 (GLOBE NEWSWIRE) -- EverCommerce Inc. (NASDAQ: EVCM), a leading provider of SaaS solutions for service SMBs, today announced that its Board of Directors has approved a $50 million increase to its previously approved share repurchase program. Under the authorization, which the Board has extended through December 31, 2025, the company may opportunistically repurchase up to $200 million of its common shares. Through May 21, 2024, the company has purchased approximately 14.6 million shares ...

DENVER, May 17, 2024 (GLOBE NEWSWIRE) -- EverCommerce Inc. (NASDAQ: EVCM), a leading service commerce platform, today announced that management will present at the following upcoming investor conferences: The links to the live webcasts for the conferences will be made available through the Investor Relations section of the Company's website at: https://investors.evercommerce.com. Chief Financial Officer Marc Thompson will present at the JP Morgan Annual Global Technology, Media and Communications Conference ...

DENVER, May 17, 2024 (GLOBE NEWSWIRE) -- EverCommerce Inc. (NASDAQ: EVCM), a leading service commerce platform, today announced that management will present at the following upcoming investor conferences: Chief Financial Officer Marc Thompson will present at the JP Morgan Annual Global Technology, Media and Communications Conference in Boston, Massachusetts. The presentation is scheduled for Wednesday, May 22, 2024 at 9:20 a.m. ET. SVP and Head of Investor Relations Brad Korch will host investor meetings at ...

For the quarter ended March 2024, EverCommerce (EVCM) reported revenue of $170.11 million, up 5.6% over the same period last year. EPS came in at -$0.09, compared to -$0.07 in the year-ago quarter.The reported revenue represents a surprise of +4.92% over the Zacks Consensus Estimate of $162.13 million. With the consensus EPS estimate being -$0.06, the EPS surprise was -50.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...