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.
EverCommerce Inc. (NASDAQ: EVCM) is a dynamic service commerce platform offering vertically-tailored Software-as-a-Service (SaaS) solutions for small- and medium-sized businesses (SMBs) across the home services, health services, and fitness & wellness sectors. With a customer base of approximately 708,000, EverCommerce provides an integrated ecosystem of solutions designed to enhance business efficiency, drive revenue growth, and improve customer retention.
Founded by a team of successful software entrepreneurs and seasoned professionals from private equity firms and Fortune 500 companies, EverCommerce aims to deliver best-in-class service solutions. The company's portfolio includes the EverPro, EverHealth, and EverWell brands, which specialize in home, health, and wellness services respectively. These brands offer comprehensive business management software, embedded payment acceptance, marketing technology, and customer experience applications.
In its recent developments, EverCommerce has made strategic moves to sharpen its focus on high-growth business areas. One notable transaction involved the sale of its fitness solutions to Jonas Software, which will allow the company to concentrate on its core verticals. The fitness solutions sale is expected to close in two phases, with the North American businesses already completed and international ones expected to finalize by the third quarter of 2024.
Financially, EverCommerce has been performing robustly, with the third quarter of 2023 showing strong Adjusted EBITDA results. The company continues to drive balanced growth and profitability, recently announcing a $50 million increase to its share repurchase program, bringing the total to $200 million authorized for repurchases. This move underscores EverCommerce's commitment to maximizing shareholder value while maintaining flexibility for strategic investments.
Recent leadership changes have seen the appointment of Ellora Sengupta as Chief Information Officer and the promotion of Kayla O’Rourke to Chief People Officer, both poised to advance the company’s transformation and optimization efforts.
EverCommerce’s strategic initiatives and strong financial performance make it a noteworthy entity in the service commerce sector, continually evolving to meet the demands of its expansive customer base and adapt to market opportunities. To stay updated, visit the company's Investor Relations page.
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.
EverCommerce Inc. (Nasdaq: EVCM) has announced the appointment of Ryan Siurek as its new Chief Financial Officer (CFO), effective September 6, 2024. Siurek, who has been serving as the company's Chief Accounting Officer since July 2023, will replace current CFO Marc Thompson. With over 30 years of finance and accounting experience in public companies, Siurek brings valuable expertise to EverCommerce's leadership team.
CEO Eric Remer expressed confidence in Siurek's ability to lead the company's next growth phase. Siurek's previous roles include Chief Accounting Officer at Biodesix, Inc. and senior positions at Vail Resorts and Sprint The transition comes as Thompson, who has been CFO since 2016, departs to pursue other interests after contributing significantly to EverCommerce's growth, including its 2021 IPO and numerous M&A transactions.
EverCommerce (NASDAQ: EVCM) reported strong Q2 2024 financial results, with revenue of $177.4 million, up 4.3% year-over-year. Subscription and transaction fee revenue increased 5.2% to $137.0 million. The company posted a net loss of $3.4 million, or $(0.02) per share. Adjusted EBITDA rose to $41.2 million.
EverCommerce repurchased 2.5 million shares for $24.1 million during Q2, with $54.0 million remaining in the repurchase program. The company provided guidance for Q3 2024, expecting revenue between $172-$176 million and Adjusted EBITDA of $39-$42 million. For full-year 2024, revenue is projected at $676-$696 million with Adjusted EBITDA of $167-$176 million.
EverCommerce Inc. (NASDAQ: EVCM), a leading provider of SaaS solutions for service SMBs, has announced the date for its second quarter 2024 earnings call. The company will report its financial results on Tuesday, August 6, 2024, after the U.S. financial markets close. Management will host a conference call on the same day at 5:00 p.m. Eastern Time / 3:00 p.m. Mountain Time to discuss the results and provide a business update.
Investors can access both telephonic and webcast options for the call through the company's Investor Relations page. A replay of the call will also be archived on the website for future reference.
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