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Ellington Mutual Insurance Company has implemented InvoiceCloud's online bill payment solution to enhance payment efficiency and customer satisfaction. Since adopting the service in December 2021, AutoPay adoption has surged by 7x, and the company has doubled its payment options. Additionally, paperless enrollment jumped 63%, reducing operational costs significantly. These improvements align with increased customer demands and the insurance industry's shift towards superior customer experiences, leading to higher growth and profitability potential.
EngageSmart, Inc. (NYSE: ESMT) reported a strong Q2 2022, with a 43% revenue increase year-over-year, totaling $73.9 million. Growth was fueled by a 56% rise in SMB revenue to $40.8 million and a 29% rise in Enterprise revenue to $33.0 million. Adjusted EBITDA reached $12 million, while net income was $6.9 million, a significant recovery from a loss in Q2 2021. Customer numbers rose 29% to 92.6 thousand. The company raised its revenue guidance for FY 2022 to $295.0 - $297.5 million.
EngageSmart, Inc. (NYSE: ESMT) announced participation in the KeyBanc Technology Leadership Forum in Vail, Colorado, featuring CFO Cassandra Hudson in a fireside chat on August 9, 2022, at 8:30 a.m. MT. Management will hold investor meetings that same day. An event webcast will be available here, with an on-demand replay on the investor relations site post-event. EngageSmart focuses on customer engagement software and integrated payments, serving over 84,000 SMB and 3,100 enterprise customers across multiple verticals.
EngageSmart's DonorDrive has been awarded Salesforce.org’s 2022 Nonprofit Product Partner of the Year for the Americas, recognized for its innovative digital fundraising platform. The award, presented on June 1, 2022, highlights the successful collaboration between DonorDrive and Salesforce.org that enhances fundraising efficiency for nonprofits. Notable features include data synchronization and integration capabilities with Salesforce, enabling nonprofits to effectively manage stakeholder relationships and fundraising data.
EngageSmart (NYSE: ESMT) will report its Q2 2022 financial results on August 4, 2022, before the market opens. A conference call to discuss the results will take place at 8:30 a.m. ET and will be available via webcast on the company's investor relations website. EngageSmart is a leader in customer engagement software and payment solutions, serving over 84,000 customers across various sectors, including Health & Wellness and Government. For more details, visit engagesmart.com.
InvoiceCloud, a solution from EngageSmart (NYSE: ESMT), has significantly increased electronic payment adoption in the City of Escondido by 62% since its implementation in 2018. The platform simplifies utility bill payments through digital wallets, PayPal (NASDAQ: PYPL), and other methods, enhancing customer convenience. After integration, payment-related customer service calls dropped by 69%, allowing staff to focus on other priorities. Additionally, paperless billing enrollment rose by 83%, saving the city $23,000 annually in print and mail costs.
The city of Clearwater has partnered with InvoiceCloud, a solution by EngageSmart (NYSE: ESMT), to enhance its online bill payment services, launched on May 31. This new platform allows over 118,000 residents to pay utility bills easily via various secure methods, including PayPal (NASDAQ: PYPL), Apple Pay, and Google Pay. Customers can manage bills online, set up AutoPay, and receive notifications for upcoming due dates, thus improving user experience. The move aims to simplify bill payments and bolster customer engagement.
The recent collaboration between James City County and InvoiceCloud has resulted in a remarkable 1,060% surge in electronic payments since they partnered in April 2019. Additionally, paperless enrollment has increased by 554%, significantly reducing operational costs and enhancing customer satisfaction. The County Treasurer highlighted that the platform has streamlined payment processing, preventing backlog for the first time in over two decades. InvoiceCloud’s growth is further evidenced by its expanding municipal tax department partnerships across the nation, driven by rising demand for efficient digital payment solutions.
EngageSmart (NYSE: ESMT) announced its participation at the William Blair 42nd Annual Growth Stock Conference in Chicago, Illinois, scheduled for June 9, 2022. CEO Bob Bennett will present at 10:40 am CT and conduct investor meetings throughout the day. A live webcast of the presentation will be available here, with an on-demand replay accessible post-event. EngageSmart provides tailored customer engagement software and integrated payments solutions, serving over 84,000 customers across various sectors.
