Welcome to our dedicated page for Evercommerce news (Ticker: EVCM), a resource for investors and traders seeking the latest updates and insights on Evercommerce stock.
Overview of EverCommerce Inc.
EverCommerce Inc. (NASDAQ: EVCM) is a leading service commerce platform that provides vertically-tailored, integrated Software-as-a-Service (SaaS) solutions designed to meet the unique needs of service-based small- and medium-sized businesses (SMBs). Operating across diverse industries, including home services, health services, and fitness & wellness, EverCommerce empowers businesses to streamline operations, enhance customer engagement, and drive sustainable growth. With a customer base exceeding 690,000 global businesses, the company addresses the specialized demands of its clients through its comprehensive ecosystem of business management software, marketing technology, embedded payment systems, and customer experience applications.
Core Business Model
EverCommerce's business model revolves around providing subscription-based SaaS solutions that cater to the operational and growth needs of service SMBs. By integrating multiple functionalities into a single platform, the company enables its customers to automate workflows, improve efficiency, and build customer loyalty. Its solutions are particularly effective for businesses requiring tailored tools to manage appointments, process payments, and optimize marketing efforts. Revenue generation is primarily driven by recurring subscription fees and embedded financial services, ensuring predictable income streams for the company.
Industry Context and Market Position
Operating within the rapidly growing SaaS industry, EverCommerce occupies a niche position by focusing exclusively on service-based SMBs. This vertical specialization allows the company to differentiate itself from broader SaaS providers by offering highly customized solutions that address the unique challenges of its target markets. The company's strategic segmentation into three primary verticals—EverPro (home services), EverHealth (healthcare services), and EverWell (fitness and wellness)—further strengthens its market position. By focusing on these high-growth sectors, EverCommerce is well-positioned to capitalize on the increasing digitalization of SMB operations.
Competitive Differentiation
EverCommerce sets itself apart from competitors through its vertically-integrated approach, which combines industry-specific expertise with a robust technology platform. Unlike generic SaaS providers, EverCommerce delivers end-to-end solutions tailored to the operational intricacies of its clients. This includes features such as embedded payment acceptance, advanced marketing tools, and customer relationship management systems. Additionally, the company's ecosystem approach ensures that its solutions are scalable, allowing businesses to grow without outgrowing the platform.
Strategic Focus and Portfolio Optimization
In recent years, EverCommerce has demonstrated a strategic focus on optimizing its portfolio by divesting smaller, less scalable segments, such as its fitness solutions. This allows the company to concentrate resources on its highest growth verticals, including home and healthcare services. Such strategic moves indicate a deliberate effort to streamline operations and prioritize segments with the greatest revenue potential and market opportunities.
Value Proposition
At its core, EverCommerce's value proposition lies in its ability to simplify complex business processes for service SMBs. By offering a unified platform that integrates multiple functionalities, the company enables its clients to reduce operational inefficiencies, enhance customer satisfaction, and achieve predictable revenue growth. This focus on delivering tangible business outcomes has made EverCommerce a trusted partner for thousands of service-based businesses worldwide.
EverCommerce (NASDAQ: EVCM) announced its upcoming participation in the Citizens JMP Technology Conference in San Francisco. EverHealth CEO Evan Berlin and SVP & Head of IR Brad Korch will deliver a presentation on March 3, 2025, at 11:30 a.m. PST. The presentation will be accessible via live webcast through the company's Investor Relations website section at investors.evercommerce.com.
EverCommerce (NASDAQ: EVCM), a leading SaaS solutions provider for service SMBs, has scheduled its fourth quarter 2024 earnings release and conference call for March 13, 2025. The financial results will be released after U.S. market close, followed by a conference call at 5:00 p.m. Eastern Time / 3:00 p.m. Mountain Time. During the call, management will discuss financial results and provide a business update. Investors can access both telephonic and webcast options through the company's investor relations website, where a replay will also be available.
EverCommerce (NASDAQ: EVCM) has appointed Evan Berlin as the leader of its EverHealth healthcare vertical. Berlin, who has been with the company for 17 years, transitions from his role as Chief Operating Officer, which he held since March 2023. His extensive experience includes being an early employee of EverCommerce's predecessor PaySimple and leading the company's acquisition and integration strategy when EverCommerce was incorporated in 2016.
The appointment is part of EverCommerce's transformation initiative focusing on investing in high-growth potential verticals. The company will not backfill the Chief Operating Officer position. Berlin's appointment, along with Josh McCarter's leadership of EverPro and additional key leadership roles in these verticals, marks significant progress in the company's transformation phase.
EverCommerce (NASDAQ: EVCM) has successfully repriced its $533.5 million term loan, reducing the fixed component of the interest rate from SOFR plus 3.0% to SOFR plus 2.50%. The company eliminated the credit spread adjustment, resulting in approximately $3.3 million in annualized interest cost savings on the outstanding principal as of September 30, 2024. This modification is part of EverCommerce's ongoing transformation and optimization efforts. The company had previously implemented interest rate swaps with a combined notional amount of $425 million to reduce floating rate exposure. No other material amendments were made to the term loan credit facility.
EverCommerce (NASDAQ: EVCM) announced its participation in three major investor conferences. CEO Eric Remer and CFO Ryan Siurek will present at the RBC Capital Markets Technology Conference in New York City on November 20, 2024, at 10:00 AM EST. SVP Brad Korch will attend the Raymond James TMT and Consumer Conference for 1x1 meetings on December 10, 2024. Additionally, Siurek and Korch will participate in 1x1 meetings at the Barclays Global Technology Conference on December 12, 2024. Live webcasts will be available through the company's investor relations website.
EverCommerce (NASDAQ: EVCM) has appointed Josh McCarter as the leader of its EverPro home and field services vertical. McCarter brings 25 years of technology experience, most recently serving as CEO of ShipMonk. His previous roles include CEO of Mindbody, where he led the acquisition of ClassPass in 2021, and co-founder/CEO of Booker. McCarter's extensive experience includes executive positions at Autobytel, where he helped raise $100M for international expansion and supported its IPO. He currently serves on the Board of Directors of Compass (NYSE: COMP).
EverCommerce (NASDAQ: EVCM) announced its Q3 2024 financial results. Revenue increased by 0.9% to $176.3 million compared to Q3 2023, and pro forma revenue (excluding fitness) grew by 4.3% to $169.1 million. Subscription and transaction fee revenue rose by 3.7% to $137.6 million, with pro forma figures increasing by 8.3% to $127.0 million. The company reported a net loss of $9.2 million or $(0.05) per share, compared to a net loss of $0.6 million or $(0.00) per share in Q3 2023. Adjusted EBITDA was $44.5 million, up from $41.8 million in Q3 2023. EverCommerce repurchased 1.4 million shares for $14.6 million, with $39.4 million remaining under the repurchase program. The company issued Q4 2024 guidance, expecting revenue between $168 million and $172 million and Adjusted EBITDA between $43 million and $46 million.
EverCommerce Inc. (NASDAQ: EVCM), a leading provider of SaaS solutions for service SMBs, has announced the date for its third quarter 2024 earnings call. The company will report its financial results on Tuesday, November 12, 2024, after the U.S. financial markets close. Following the release, management will host a conference call at 5:00 p.m. Eastern Time / 3:00 p.m. Mountain Time to discuss the financial results and provide a business update.
Investors and interested parties can access both telephonic and webcast options for the call by visiting the 'Investor Relations' page on the company's website. A replay of the call will also be archived on the website for future reference.
EverCommerce Inc. (Nasdaq: EVCM), a leading provider of SaaS solutions for service SMBs, has announced changes to its Board of Directors. Alexi Wellman will join the board effective September 23, 2024, serving on the Company's Audit Committee. Wellman brings extensive experience in operations, financial management, accounting, audit processes, and corporate governance from her roles as CEO and CFO of Altbaba, Inc., vice president of finance and global controller at Yahoo Inc., CFO of Nebraska Book Company, and as a CPA and audit partner at KPMG LLP.
Concurrently, Debby Soo will be leaving the Company's Board, effective October 31, 2024, after serving for three and a half years. EverCommerce CEO and Chairman of the Board Eric Remer expressed excitement about Wellman's appointment and gratitude for Soo's contributions.
EverCommerce Inc. (NASDAQ: EVCM), a leading service commerce platform, has announced its participation in three upcoming investor conferences in August 2024. The company's management will be presenting and hosting meetings at these events:
1. Canaccord Genuity 44th Annual Growth Conference in Boston on August 13, featuring CFO Marc Thompson and incoming CFO.
2. Virtual Oppenheimer 27th Annual Technology, Internet & Communications Conference on August 14, with SVP & Head of Investor Relations Brad Korch hosting one-on-one meetings.
3. Deutsche Bank 2024 Technology Conference in Dana Point on August 29, where COO Evan Berlin and Brad Korch will host one-on-one meetings.
Live webcasts for these conferences will be available through the Investor Relations section of EverCommerce's website.
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