The forward-looking statements in this presentation are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future re ...

Core Insights - Fundbox has entered into an agreement with EverCommerce Inc. to provide fast and flexible funding solutions directly integrated into the platforms used by small and medium-sized businesses (SMBs) [1][4] - The collaboration aims to enhance the financial ecosystem for contractors and home service professionals, allowing them to access capital whenever needed [3][5] Company Overview - Fundbox is a pioneer in embedded capital products for SMBs, having helped over 150,000 small businesses unlock more than $6 billion in capital since its inception in 2013 [7] - EverCommerce is a leading service commerce platform that supports over 725,000 global service-based businesses with integrated SaaS solutions [8] Integration Details - The integration will provide customers of EverPro's brands, including Joist and Invoice Simple, with seamless access to capital, supporting over 350,000 small businesses across the US, UK, Canada, and Australia [2][4] - Fundbox's embedded capital engine evaluates a business's financial profile using data from various sources, offering a more accurate assessment of business health [5]

Financial Data and Key Metrics Changes - For Q1 2025, GAAP revenue increased by 3.2% year over year, while on a pro forma basis, revenue grew by 7.4% year over year [8][17] - Adjusted EBITDA was $44.9 million, representing a margin of 31.6%, with a year-over-year margin expansion of nearly 360 basis points [9][18] - Total payment volume (TPV) for Q1 was approximately $12.7 billion, reflecting nearly 9% year-over-year growth [16] Business Line Data and Key Metrics Changes - Subscription and transaction revenue grew by 8.1% year over year, with adjusted gross profit of $111.1 million and an adjusted gross margin of 78.1% [11][19] - Payments revenue, excluding fitness solutions, grew by 8.4% year over year, accounting for approximately 21% of overall revenue [15][16] - The number of customers enabled for more than one solution grew by 20% year over year, reaching 240,000 [13] Market Data and Key Metrics Changes - The company serves over 725,000 customers across its three major verticals: EverPro, EverHealth, and EverWell, with the first two representing 95% of consolidated revenue [10] - Annualized net revenue retention (NRR) was 97%, indicating strong customer retention [15] Company Strategy and Development Direction - The company is focusing on integrating AI capabilities into its customer-facing software to enhance innovation and maintain a competitive edge [12] - Strategic investments are being made in the payments platform to drive adoption and revenue acceleration [16] - The company is prioritizing payment attachment at the point of initial SaaS sale as a core strategy [25] Management's Comments on Operating Environment and Future Outlook - Management has not observed any degradation in key metrics despite macroeconomic volatility, indicating a stable operating environment [32] - The guidance for Q2 and full year 2025 remains unchanged, reflecting confidence in the business's resilience [33][22] Other Important Information - The Board of Directors approved a $50 million increase to the share repurchase program, extending it to year-end 2026 [9][21] - Cash flow from operations for Q1 was $30.7 million, more than double the previous year's figure [20] Q&A Session Summary Question: How has prioritizing payment attachment at the point of sale impacted sales teams? - Management noted an increase in payment attachment with new customers in Q1, indicating positive results from this strategy [25][26] Question: What are the biggest upsell opportunities within EverPro, EverHealth, and EverWell? - Management highlighted payments as the largest opportunity, along with additional product integrations to enhance customer experience [27][28] Question: Any changes in pipeline activity or expansion metrics due to macroeconomic factors? - Management confirmed no degradation in key metrics, maintaining a "business as usual" stance [32] Question: Is there potential tariff exposure on the EverPro side of the business? - Management indicated that most EverPro business is break-fix, suggesting limited direct exposure to tariffs [41] Question: Any surprises or areas of improvement identified in the EverPro business? - Management expressed optimism about growth opportunities in payments and cross-selling other products [44]

Financial Data and Key Metrics Changes - In Q1 2025, GAAP revenue increased by 3.2% year over year, while on a pro forma basis, revenue grew by 7.4% year over year [7][17] - Adjusted EBITDA was $44.9 million, representing a margin of 31.6%, with a year-over-year margin expansion of nearly 360 basis points [8][18] - Total payment volume (TPV) for Q1 was approximately $12.7 billion, reflecting nearly 9% year-over-year growth [16] Business Line Data and Key Metrics Changes - Subscription and transaction revenue grew by 8.1% year over year, with adjusted gross profit of $111.1 million, resulting in an adjusted gross margin of 78.1% [10][19] - EverPro and EverHealth verticals accounted for 95% of consolidated revenue, with significant growth opportunities identified in payment integrations and additional product offerings [9][27] Market Data and Key Metrics Changes - The company reported a net revenue retention (NRR) of 97% over the trailing twelve months, indicating strong customer loyalty and revenue stability [15] - Approximately 240,000 customers were enabled for more than one solution, reflecting a 20% year-over-year growth [13] Company Strategy and Development Direction - The company is focusing on integrating AI capabilities into its products to enhance innovation and operational efficiency [11] - Strategic investments are being made in payment platforms to drive adoption and revenue growth, with a focus on optimizing go-to-market strategies [16][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of their end markets, noting no significant degradation in key metrics despite macroeconomic volatility [31][33] - Guidance for Q2 2025 remains unchanged, with expected total revenue between $144.5 million and $147.5 million, and adjusted EBITDA between $39.5 million and $41.5 million [22] Other Important Information - The Board of Directors approved a $50 million increase to the share repurchase program, extending the authorization to year-end 2026 [8][21] - The company generated significant free cash flow, with cash flow from operations for the quarter at $30.7 million, more than double the previous year [20] Q&A Session Summary Question: How has prioritizing payment attachment at the point of sale impacted sales teams? - Management noted positive results in Q1, with increased payment attachment seen with new customers, and emphasized ongoing efforts to integrate payment selling into SaaS workflows [24][26] Question: What are the biggest upsell opportunities within EverPro, EverHealth, and EverWell? - Management highlighted payments as the largest growth opportunity, along with additional product integrations to enhance customer experience and value [27][28] Question: Any changes in pipeline activity or net expansion metrics due to macroeconomic factors? - Management reported no degradation in key metrics and stated that business operations remain stable despite macroeconomic concerns [31][32] Question: Is there potential tariff exposure on the EverPro side of the business? - Management indicated that most of the EverPro business is break-fix, suggesting limited direct exposure to tariffs, although some supply costs may be affected [40] Question: Any surprises or areas of improvement identified in the EverPro business? - Management expressed optimism about growth opportunities in payments and cross-selling other products, emphasizing the potential for significant improvements [42]