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 (EVCM) announced a public offering of 11 million shares of its common stock, with a potential 30-day option for underwriters to purchase an additional 1.65 million shares. The offering, underwritten by major firms including J.P. Morgan and Goldman Sachs, follows a filed registration statement with the SEC but is yet to become effective. This initiative aims to support EverCommerce's growth in the service commerce space, which serves over 500,000 businesses. The company's focus includes integrated SaaS solutions across various service industries.
EverCommerce Inc. (EVCM) reported a 44% revenue growth for Q3 2021, reaching $128.5 million compared to $89.2 million in Q3 2020. The adjusted EBITDA margin surpassed 20% with $29.0 million generated, slightly down from $29.1 million in the previous year. However, the company posted a net loss of $36.9 million ($0.20 per share), an increase from $5.4 million in Q3 2020. EverCommerce's cash and equivalents stood at $98.3 million, with total debt at $385.1 million. The company announced the acquisition of DrChrono and has raised its revenue guidance for Q4 and full-year 2021.
EverCommerce (Nasdaq: EVCM) has announced a definitive agreement to acquire DrChrono, a mobile-first platform for independent healthcare practices. Based in Sunnyvale, California, DrChrono offers a cloud-based solution encompassing practice management, EHR, and billing services, serving over 4,600 practices and 13,000 providers. The acquisition aims to bolster EverCommerce's suite of healthcare solutions, enhancing patient engagement and operational efficiency. Subject to regulatory review, the deal is expected to close by the end of November 2021.
Service Fusion, part of EverCommerce (NASDAQ: EVCM), has announced a new integration with Trane and American Standard, leading providers of indoor comfort solutions. This first phase allows HVAC contractors to efficiently manage leads and jobs through the platform, reducing manual entry processes. The integration aims to streamline workflow and enhance customer experience by simplifying business operations. Further phases are expected in 2022, focusing on product catalogs and inventory management.
EverCommerce, Inc. (NASDAQ:EVCM) will report its third quarter fiscal year 2021 financial results after U.S. market close on November 8, 2021. A conference call is scheduled on the same day at 5:00 p.m. ET to discuss the results and provide financial guidance. Investors can participate by calling (877) 313-2140 for domestic and (470) 495-9545 for international calls, using conference ID 8092737. EverCommerce offers SaaS solutions for over 500,000 service-based businesses, focusing on Home Services, Health Services, and Fitness & Wellness industries, driving growth and operational efficiency.
On October 12, 2021, ASF Payment Solutions and Club OS were chosen by World Gym International as designated suppliers for club management and CRM software across their North American operations. This partnership aims to enhance operational efficiency for franchisees, providing an integrated solution for member management, billing, and marketing automation. ASF's technology will enable World Gym to optimize its customer engagement strategies and drive revenue growth through data analytics. The collaboration is part of EverCommerce's EverWell solutions suite, supporting over 46,000 fitness and wellness businesses.
DynaScape, a software solution under EverCommerce (Nasdaq:EVCM), has partnered with LandscapeHub to enhance their offerings for landscaping companies. This integration will sync LandscapeHub’s marketplace with DynaScape’s Manage360, allowing users real-time access to costs and suppliers. The partnership aims to streamline the estimating, ordering, and job management processes, ultimately improving efficiency and accuracy for landscape industry professionals.
EverCommerce (Nasdaq: EVCM) has launched EverConnect, a performance marketing platform designed to connect service providers with local consumers. This initiative consolidates three existing businesses: Keyword Connects, 33 Mile Radius, and Remodeling.com, offering a unified toolset for lead generation. EverConnect features three new products: EverConnect Live for exclusive leads, EverConnect Direct for tailored campaigns, and EverConnect Marketplace for self-service lead acquisition. The platform aims to streamline marketing efforts and enhance customer experience for service-based businesses.
EverCommerce, a leading service commerce platform, announced multiple presentations at key investor conferences. The Deutsche Bank Technology Conference will occur on September 9, 2021, at 11:10 a.m. ET. The Piper Sandler Global Technology Conference will feature accessible presentations from September 9-21, 2021. Additionally, the Jefferies Virtual Software Conference is scheduled for September 15, 2021, at 1:30 p.m. ET. Investors can access live webcasts and materials on EverCommerce’s investor relations website. The firm specializes in providing SaaS solutions to over 500,000 service-based businesses across various sectors.
EverCommerce, Inc. (NASDAQ: EVCM) announced the launch of a four-part webinar series by ASF Payment Solutions titled "Making the Most of Your Fitness Tech Strategy" starting on Sept. 14. The webinars aim to assist fitness business owners in optimizing their technology investments with sessions focusing on important aspects like Mindset, User Experience, New Economics, and Execution Engines. Each one-hour session will provide insights to enhance decision-making and ensure the strategic deployment of tech in fitness operations.
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