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EverCommerce
🇺🇸 NASDAQ:EVCM
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Jun 30, 2024

EverCommerce Q2 2024 Earnings Report

Reported revenue exceeded guidance, with Adjusted EBITDA surpassing expectations, highlighting strong quarterly performance.

Key Takeaways

EverCommerce reported strong second-quarter results, with revenue exceeding the top end of guidance and Adjusted EBITDA surpassing the midpoint. The company is balancing growth with profitability while investing in transformation initiatives for future benefits.

Revenue reached $177.4 million, a 4.3% increase compared to Q2 2023.

Subscription and transaction fee revenue grew by 5.2% to $137.0 million.

Net loss was $3.4 million, or $(0.02) per share.

Adjusted EBITDA was $41.2 million, compared to $38.8 million in the prior year.

Total Revenue
$177M
Previous year: $170M
+4.3%
EPS
-$0.02
Previous year: $0.03
-166.7%
Adjusted EBITDA
$41.2M
Previous year: $38.8M
+6.2%
Gross Profit
$116M
Cash and Equivalents
$86.7M
Previous year: $83.1M
+4.4%
Free Cash Flow
$23.3M
Total Assets
$1.47B

EverCommerce

EverCommerce

EverCommerce Revenue by Segment

Forward Guidance

For Q3 2024, EverCommerce expects revenue between $172 million and $176 million and Adjusted EBITDA between $39 million and $42 million. For the full year 2024, revenue is projected to be between $676 million and $696 million, with Adjusted EBITDA between $167 million and $176 million.

Positive Outlook

  • Revenue is expected to be in the range of $172 million to $176 million for Q3 2024.
  • Adjusted EBITDA is expected to be in the range of $39 million to $42 million for Q3 2024.
  • Revenue is expected to be in the range of $676 million to $696 million for full year 2024.
  • Adjusted EBITDA is expected to be in the range of $167 million to $176 million for full year 2024.
  • The revenue guidance excludes now-divested fitness assets.

Challenges Ahead

  • A reconciliation of Adjusted EBITDA to net income is not available without unreasonable efforts on a forward-looking basis.
  • The high variability, complexity, and low visibility with respect to certain charges excluded from this non-GAAP measure.
  • Stock-based compensation expense specific to equity compensation awards are directly impacted by unpredictable fluctuations in our stock price.
  • These charges could be material to EverCommerce's results computed in accordance with GAAP.
  • Forward-looking statements are subject to risks, uncertainties, and other important factors that may cause actual results to differ materially.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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