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
EverCommerce Inc (NASDAQ: EVCM) operates as an integrated service commerce platform, delivering vertically-tailored SaaS solutions designed specifically for service-based small and medium-sized businesses (SMBs). With a comprehensive suite of digital and mobile applications, EverCommerce empowers SMBs in home services, health services, and fitness & wellness to streamline operations, engage with customers, and drive operational efficiency. Utilizing industry-specific technology such as embedded payments, marketing automation, and customer experience management, the company provides a robust solution that meets the diverse needs of its clientele.
Business Model and Operations
At its core, EverCommerce is focused on the acquisition and integration of best-in-class software solutions. The company was born from a seasoned leadership team with deep roots in successful software startups, renowned private equity firms, and Fortune 500 enterprises. Their strategy involves sourcing complementary digital tools and consolidating them into a single ecosystem that offers end-to-end business management, automating processes and fostering predictable revenue streams for service-based SMBs.
The revenue generation model relies primarily on subscription-based fees and services rendered through its integrated SaaS offerings. This recurring revenue model is coupled with a scalable platform that supports a high volume of customers across various micro-verticals, enabling the firm to maintain strong, diversified revenue while addressing the unique demands of each market segment.
Key Vertical Markets
EverCommerce provides tailored solutions in distinct service sectors:
- Home Services: The platform enables businesses in home repair, maintenance, and other related services to manage appointments, optimize workflow, and improve customer satisfaction.
- Health Services: With an emphasis on regulatory compliance and digital health records, the solutions assist health providers in ensuring smooth, efficient operations while enhancing patient care experiences.
- Fitness & Wellness: Although a smaller vertical relative to others, the company has delivered robust technology to fitness centers and wellness providers, including integrated scheduling, membership management, and digital engagement tools.
Market Position and Industry Expertise
EverCommerce distinguishes itself by leveraging a deep understanding of the service industry and technology trends. The organization has a proven expertise in combining marketing technology, embedded financial services, and software-driven automation. This integrated approach not only optimizes business processes, but also creates a unified experience between service professionals and their clients.
The company has successfully built an ecosystem where the synergy between technology and service operations ushers in new levels of efficiency and scalability for SMBs. With a disciplined acquisition strategy, EverCommerce continues to enhance its product portfolio, drawing on the experience and operational expertise of each acquired brand to offer a coherent, industry-specific software solution.
Operational Strategy and Value Proposition
The operational strategy of EverCommerce is centered on simplifying the process for service businesses to manage multiple operational facets through a single, cohesive platform. By blending multiple functionalities into one solution, the platform reduces administrative overhead and empowers businesses to focus on growth and customer retention. The company provides:
- Automation: Tools designed to automate scheduling, billing, and customer communications.
- Integration: Seamless connection between digital payment processing, marketing, and data analytics.
- Scalability: A flexible platform infrastructure capable of serving numerous micro-verticals within the broader service industry.
Corporate Heritage and Leadership
EverCommerce's heritage is built on the combined expertise of leaders from various facets of the technology and service industries. This background underpins the company’s approach in sourcing innovative technologies and integrating them within a coherent service commerce framework. The leadership team brings decades of experience managing software startups, private equity-financed ventures, and large-scale enterprise operations, thereby enhancing the company’s credibility and operational excellence.
Competitive Landscape
Within a competitive landscape that includes numerous SaaS providers, EverCommerce differentiates itself through its emphasis on vertical specialization and integrated operations. Its focus on providing customizable solutions designed for specific service niches, combined with a user-friendly digital platform, positions it as a key resource for SMBs looking to modernize their business processes. The company’s strategic acquisitions have enabled it to maintain a diverse yet integrated suite of solutions that not only meets current market demands but also scales effectively with business growth.
Customer-Centric Approach and Ecosystem Benefits
EverCommerce maintains a customer-centric focus by continuously evolving its service offerings based on the specific needs of its clients. The ecosystem provides a tailwind for market penetration, resources to build operational efficiency, and capabilities for creating revenue predictability. This holistic approach ensures that customers benefit from a single point of integration for multiple business functions, which simplifies operations and enhances overall service quality.
Conclusion
In summary, EverCommerce Inc is a pivotal organization within the service commerce domain. Its vertically-tailored SaaS solutions combine operational efficiency with integrated digital capabilities, enabling service-based SMBs to accelerate growth and achieve improved customer satisfaction. The company’s robust platform, commitment to integration, and deep expertise in managing digital transformation initiatives make it a significant entity in the realm of service commerce technology.
EverCommerce (NASDAQ: EVCM) reported its Q4 and full-year 2024 financial results, showing mixed performance. Q4 revenue reached $175.0 million, up 3.3% year-over-year, while pro forma revenue excluding fitness solutions increased 7.0%. Subscription and transaction fee revenue grew 4.2% to $139.0 million.
The company reported a Q4 net loss of $12.2 million ($0.07 per share), an improvement from the $23.3 million loss in Q4 2023. Adjusted EBITDA increased to $50.4 million from $43.1 million year-over-year.
During Q4, EVCM repurchased 0.6 million shares for approximately $7.0 million, with $32.7 million remaining in the repurchase program. The company announced plans to evaluate strategic alternatives for its marketing technology solutions, expecting a sale within 12 months. For 2025, EVCM projects revenue of $581-601 million and Adjusted EBITDA of $167.5-175.5 million from continuing operations.
EverCommerce (NASDAQ: EVCM) announced it is exploring strategic alternatives for its Marketing Technology solutions division, with expectations of a sale in 2025. The company initiated this process in late 2024 as part of its transformation strategy.
The decision aligns with EverCommerce's refined focus on vertical SaaS software with embedded payments, which management believes will optimize long-term growth and margin accretion. The Marketing Technology division, currently led by Tim Gill, provides lead generation and digital agency capabilities to service-based small businesses.
The company's upcoming Q4 2024 earnings guidance, scheduled for March 13, 2025, will exclude Marketing Technology operations. EverCommerce has engaged external financial advisors for the strategic review process and will limit further public comments until the review concludes or required disclosures arise.
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.
FAQ
What is the current stock price of Evercommerce (EVCM)?
What is the market cap of Evercommerce (EVCM)?
What is EverCommerce Inc?
What services does EverCommerce offer?
How does EverCommerce generate its revenue?
Which industry verticals does EverCommerce serve?
What makes EverCommerce unique in the competitive SaaS market?
How does EverCommerce enhance customer operations?
What is the role of acquisitions in EverCommerce's strategy?
How does EverCommerce support its customers' growth?
