Core Insights - EverCommerce Inc. reported financial results for Q4 and the full year 2024, exceeding revenue and Adjusted EBITDA guidance, highlighting significant progress in transformation initiatives and strategic investments in SaaS and embedded payments [3][9][11] Financial Performance - Q4 2024 revenue reached $175.0 million, a 3.3% increase from $169.4 million in Q4 2023; pro forma revenue, excluding fitness solutions, increased approximately 7.0% [9] - Subscription and transaction fee revenue for Q4 2024 was $139.0 million, up 4.2% from $133.5 million in Q4 2023; pro forma subscription and transaction fee revenue increased approximately 8.9% [9] - Adjusted EBITDA for Q4 2024 was $50.4 million, compared to $43.1 million in Q4 2023 [9] - The net loss for Q4 2024 was $12.2 million, or ($0.07) per share, an improvement from a net loss of $23.3 million, or ($0.12) per share, in Q4 2023 [9] Share Repurchase Program - The company repurchased 0.6 million shares for approximately $7.0 million during Q4 2024, with $32.7 million remaining under the repurchase program as of December 31, 2024 [4][5] Business Outlook - For Q1 2025, revenue is expected to be between $138 million and $141 million, with Adjusted EBITDA projected in the range of $39 million to $41 million [10] - Full year 2025 revenue is anticipated to be between $581 million and $601 million, with Adjusted EBITDA expected between $167.5 million and $175.5 million [15] Strategic Initiatives - The company is refining its strategy around SaaS solutions and evaluating strategic alternatives for its marketing technology solutions, expecting a sale within the next twelve months [6][11]

Core Viewpoint - EverCommerce Inc. is evaluating strategic alternatives for its Marketing Technology solutions to focus on its core vertical SaaS offerings, aiming to maximize long-term growth and shareholder value [1][2]. Company Overview - EverCommerce is a leading service commerce platform providing integrated SaaS solutions to over 690,000 service-based businesses globally, enhancing growth and operational efficiency [4]. - The company specializes in various service industries through its brands EverPro, EverHealth, and EverWell, offering end-to-end business management software, embedded payment acceptance, and marketing technology [4]. Strategic Focus - The company’s leadership emphasizes the need to concentrate resources on best-in-class vertical SaaS software with embedded payments, which is seen as crucial for long-term growth and margin improvement [2]. - The Marketing Technology solutions are recognized for their value in lead generation and digital agency capabilities, with a commitment to continue providing exceptional service to small businesses [2]. Sale Process - EverCommerce initiated a review process for its Marketing Technology solutions in late 2024, with expectations for a sale to occur in 2025 [2][3]. - Financial guidance for the fourth quarter of 2024 will exclude the Marketing Technology segment, reflecting the strategic shift [2]. Advisory Support - The company has engaged external financial advisors to assist in the strategic review of its Marketing Technology solutions [3].

Group 1 - EverCommerce Inc. will present at the Citizens JMP Technology Conference in San Francisco on March 3, 2025, at 11:30 a.m. PST [1] - The presentation will be led by CEO Evan Berlin and SVP & Head of Investor Relations Brad Korch [1] - Live webcasts for the conferences will be available through the Investor Relations section of the company's website [1] Group 2 - EverCommerce is a leading service commerce platform that provides vertically-tailored, integrated SaaS solutions [2] - The company serves over 690,000 global service-based businesses, helping them accelerate growth, streamline operations, and increase retention [2] - EverCommerce operates under the brands EverPro, EverHealth, and EverWell, focusing on Home, Health, and Wellness service industries [2] - The company offers end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications [2]

Group 1 - EverCommerce Inc. will report its fourth quarter 2024 financial results on March 13, 2025, after U.S. financial markets close [1] - A conference call will be held on the same day at 5:00 p.m. Eastern Time to discuss the financial results and provide a business update [2] - EverCommerce is a leading service commerce platform that offers integrated SaaS solutions to over 690,000 service-based businesses globally [3] Group 2 - The company's solutions are tailored for specific industries, including Home, Health, and Wellness, under the brands EverPro, EverHealth, and EverWell [3] - EverCommerce provides end-to-end business management software, payment acceptance, marketing technology, and customer experience applications [3] - The company's digital and mobile applications aim to enhance customer experiences and improve business operations for service professionals [3]

Core Insights - EverCommerce Inc. has appointed Evan Berlin as the leader of its EverHealth healthcare vertical, reporting directly to CEO Eric Remer [1] - Berlin has a 17-year history with the company, starting from its predecessor Pay Simple, and has held various leadership roles, including Chief Operating Officer since March 2023 [2] - The company aims to focus on high-growth potential verticals as part of its transformation initiative, with key leadership appointments in place to drive this strategy [5] Company Overview - EverCommerce is a leading service commerce platform providing integrated SaaS solutions to over 690,000 global service-based businesses, enhancing growth and operational efficiency [6] - The company operates under brands such as EverPro, EverHealth, and EverWell, specializing in Home, Health, and Wellness service industries [6] - EverCommerce offers end-to-end business management software, payment acceptance, marketing technology, and customer experience applications [6]

Core Viewpoint - EverCommerce has successfully repriced the fixed rate component of its $533.5 million term loan, resulting in significant interest cost savings as part of its transformation and optimization efforts [1][2]. Financial Summary - The repricing reduced the fixed component of the interest rate by 50 basis points, from SOFR plus 3.0% to SOFR plus 2.50% [2]. - This change is expected to yield annualized interest cost savings of approximately $3.3 million based on the outstanding principal amount as of September 30, 2024 [2]. Risk Management - EverCommerce executed a series of interest rate swaps with a combined notional amount of $425 million, effectively reducing the company's floating rate exposure [3]. Company Overview - EverCommerce is a leading service commerce platform that provides vertically-tailored, integrated SaaS solutions to over 690,000 global service-based businesses [3]. - The company specializes in Home, Health, and Wellness service industries through its brands EverPro, EverHealth, and EverWell, offering end-to-end business management software, payment acceptance, marketing technology, and customer experience applications [3].

Company Announcements - EverCommerce Inc. will present at the RBC Capital Markets Technology, Internet, Media & Telecommunications Conference on November 20, 2024, at 10:00 a.m. EST [1] - Senior Vice President and Head of Investor Relations, Brad Korch, will participate in 1x1 meetings at the Raymond James TMT and Consumer Conference on December 10, 2024 [2] - CFO Ryan Siurek and SVP Brad Korch will also participate in 1x1 meetings at the Barclays Global Technology Conference on December 12, 2024 [2] Investor Relations - Live webcasts for the conferences will be available through the Investor Relations section of EverCommerce's website [3] - Contact information for investor relations is provided, including Brad Korch's phone number and email [5] Company Overview - EverCommerce is a leading service commerce platform that offers vertically-tailored, integrated SaaS solutions to over 690,000 global service-based businesses [4] - The company specializes in Home, Health, and Wellness service industries through its brands EverPro, EverHealth, and EverWell [4] - EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications [4]

Financial Data and Key Metrics Changes - The company reported GAAP revenue of $176.3 million for Q3 2024, representing a 0.9% year-over-year increase. On a pro forma basis, revenue increased by 4.3% year-over-year [10][28][31] - Adjusted EBITDA was $44.5 million, with a margin of 25.3%, reflecting a 140 basis point expansion year-over-year [11][34] - Total payment volume (TPV) reached approximately $12.4 billion, indicating an 8.4% year-over-year growth [27] Business Line Data and Key Metrics Changes - Subscription and Transaction revenue was $137.6 million, up 3.7% year-over-year, while Marketing Technology solutions revenue decreased by 6.7% year-over-year to $34.4 million [28] - Payments revenue, excluding fitness solutions, grew by 6.7% year-over-year, contributing approximately 17% of overall revenue [26][31] Market Data and Key Metrics Changes - The company ended the quarter with approximately 212,000 customers enabled for more than one solution, reflecting a 25% year-over-year growth [22] - Active utilization of more than one solution reached approximately 88,000 customers, representing a 13% year-over-year growth [23] Company Strategy and Development Direction - The company is focused on transformation and optimization initiatives, including the hiring of a new leader for the EverPro vertical to enhance decision-making and customer alignment [12][16] - The strategy emphasizes integrated sales motions and cross-selling opportunities, particularly in payments, to enhance customer value and drive revenue growth [21][56] Management's Comments on Operating Environment and Future Outlook - Management noted that the transformation initiatives are expected to set the stage for organic growth acceleration in the latter half of 2025 and into 2026 [52] - The company is optimistic about its ability to penetrate further into the payments market, which remains a significant opportunity for growth [55] Other Important Information - The company generated $27.5 million in cash flow from operations for the quarter, with levered free cash flow of $23 million [38] - The company repurchased approximately 1.4 million shares for $14.6 million during the quarter, with $39.4 million remaining in the repurchase authorization [42] Q&A Session Summary Question: Can you talk about specific initiatives for cross-sell optimization? - Management highlighted the Edge program, which has been successfully integrated into multiple solutions, driving significant uptake [46][47] Question: How do you rank the most important catalysts for organic reacceleration in 2025? - Management emphasized the importance of effective customer acquisition, integrated sales processes, and further penetration into the payments market as key catalysts [51][55] Question: Any changes in the broader SMB purchasing environment in Q3? - Management reported no significant changes, with continued ASP expansion and flat to compressed sales cycles [62][63] Question: What are the key focus areas for the new CFO? - The CFO indicated a focus on transformation and optimization, particularly in embedded functionality for 2025 [64] Question: What is driving the growth in customers enabled for more than one product? - Management attributed this growth to an integrated sales motion that emphasizes the full breadth of offerings during customer acquisition [70][71] Question: How does the new organizational structure impact R&D and sales? - The new structure aims to enhance decision-making and resource allocation, improving both R&D and sales effectiveness [102][106] Question: What is the current status of net revenue retention (NRR)? - Management noted that NRR has been impacted by a previous pricing action but is expected to stabilize as the company moves forward [110][111]

For the quarter ended September 2024, EverCommerce (EVCM) reported revenue of $176.26 million, up 0.9% over the same period last year. EPS came in at -$0.05, compared to $0.00 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $174.06 million, representing a surprise of +1.27%. The company delivered an EPS surprise of -400.00%, with the consensus EPS estimate being -$0.01.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

EverCommerce (EVCM) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -400%. A quarter ago, it was expected that this business software company would post a loss of $0.01 per share when it actually produced a loss of $0.02, delivering a surprise of -100%.Over the last four quarters, the c ...