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 announced a $50 million increase in its share repurchase program, bringing the total authorization to $200 million. This program, extended through December 31, 2025, has already seen $136 million spent on repurchasing approximately 14.6 million shares. CEO Eric Remer highlighted the company's improved operational cash flow and margin expansion over the last 12-18 months as factors enabling this decision. The repurchases can occur in open market or negotiated transactions and will adhere to Rule 10b-18 and potentially Rule 10b5-1 plans. The program is funded by cash on hand and is flexible in its execution, allowing modifications or discontinuation at the company's discretion.
EverCommerce, a leading service commerce platform, announced its participation in upcoming investor conferences. Chief Financial Officer Marc Thompson will present at the JP Morgan Annual Global Technology, Media and Communications Conference in Boston on May 22, 2024, at 9:20 a.m. ET. SVP and Head of Investor Relations Brad Korch will host investor meetings at the Jefferies Software Conference in Newport, California on May 29, 2024. Marc Thompson will also present at the Stifel 2024 Cross Sector Insight Conference in Boston on June 5, 2024, at 9:10 a.m. ET. Live webcasts of these events will be available on the company's Investor Relations website.
EverCommerce Inc. (NASDAQ: EVCM) announced its first quarter 2024 financial results, reporting $170.1 million in revenue, a 5.6% increase from the previous year. The company's pro forma revenue, excluding fitness, was $164.7 million, up 5.7%. Subscription and transaction fee revenue reached $134.7 million, a rise of 8.8%. However, EverCommerce reported a net loss of $16.3 million for the quarter. Adjusted EBITDA was $40.9 million, a significant improvement from the previous year. The company's CEO highlighted the positive financial and operating metrics, exceeding guidance expectations, and discussed future growth strategies.
EverCommerce Inc. shared the results of a survey revealing that 74% of service-based small business owners are not familiar with National Small Business Week, presenting an opportunity for increased education and growth. The survey highlights the positive impact of the week on customer engagement, with personal service and convenient access to products being key benefits. Referrals and social media are the top sales drivers for service-based small businesses. EverCommerce provides tools to automate processes, generate new business, and enhance customer loyalty, helping SMB owners run their businesses efficiently.
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