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.
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