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Jun 30, 2023
EverCommerce Q2 2023 Earnings Report
EverCommerce's Q2 2023 financial results were announced, demonstrating revenue growth and significant adjusted EBITDA performance.
Key Takeaways
EverCommerce reported an 8.1% increase in revenue year-over-year, reaching $170.1 million. Subscription and transaction fee revenue grew by 12.7%. Adjusted EBITDA was $38.8 million, exceeding the high end of the company's guidance. Net loss was $0.9 million, a significant improvement compared to the previous year.
Revenue increased by 8.1% year-over-year to $170.1 million.
Subscription and transaction fee revenue grew by 12.7% year-over-year.
Adjusted EBITDA reached $38.8 million, surpassing the upper range of guidance.
The Company repurchased 904,000 shares of common stock for approximately $10.0 million.
Revenue by Segment
Forward Guidance
The Company is issuing the following financial guidance for the third quarter and full year 2023.
Positive Outlook
- Third quarter revenue is expected to be in the range of $174 million to $178 million.
- Third quarter Adjusted EBITDA is expected to be in the range of $34.5 million to $37.5 million.
- Full year revenue is expected to be in the range of $680 million to $700 million.
- Full year Adjusted EBITDA is expected to be in the range of $142 million to $148 million.
- Company expects to fund repurchases with cash on hand.
Challenges Ahead
- A reconciliation of Adjusted EBITDA to net income is not available without unreasonable efforts on a forward-looking basis.
- The measures and efforts of stock-based compensation expense are directly impacted by unpredictable fluctuations in our stock price.
- Charges excluded from Adjusted EBITDA could be material to EverCommerce's results computed in accordance with GAAP.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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