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EverCommerce
🇺🇸 NASDAQ:EVCM
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Sep 30, 2022

EverCommerce Q3 2022 Earnings Report

EverCommerce's financial performance in Q3 2022 reflected revenue growth and improved net loss compared to the previous year.

Key Takeaways

EverCommerce reported a 23.0% increase in revenue to $158.1 million compared to the same quarter last year. The net loss decreased from $36.9 million to $15.9 million. Adjusted EBITDA increased by 3.8% to $30.2 million.

Revenue increased by 23.0% year-over-year, reaching $158.1 million.

Net loss improved to $15.9 million, compared to $36.9 million in the same quarter last year.

Adjusted EBITDA increased by 3.8% year-over-year, totaling $30.2 million.

Share repurchase authorization increased by $50.0 million, bringing the total to $100.0 million, and the program was extended through December 31, 2023.

Total Revenue
$158M
Previous year: $129M
+23.0%
EPS
-$0.08
Previous year: -$0.04
+100.0%
Gross Profit
$100M
Previous year: $85.6M
+17.4%
Cash and Equivalents
$91.5M
Previous year: $95.6M
-4.3%
Free Cash Flow
$13M
Previous year: $9.05M
+43.9%
Total Assets
$1.59B
Previous year: $1.49B
+6.6%

EverCommerce

EverCommerce

EverCommerce Revenue by Segment

Forward Guidance

For Q4 2022, EverCommerce expects revenue between $157 million and $159 million, and adjusted EBITDA between $32 million and $33 million. For the full year 2022, revenue is expected to be in the range of $616 million to $618 million, and adjusted EBITDA is expected to be in the range of $116 million to $117 million.

Positive Outlook

  • Revenue is expected to be in the range of $157 million to $159 million for Q4 2022.
  • Adjusted EBITDA is expected to be in the range of $32 million to $33 million for Q4 2022.
  • Full year 2022 revenue is expected to be in the range of $616 million to $618 million.
  • Full year 2022 Adjusted EBITDA is expected to be in the range of $116 million to $117 million.
  • Core SaaS and payments businesses are expected to continue to perform well.

Challenges Ahead

  • Increased macroeconomic headwinds are particularly affecting marketing services solutions.
  • The company fell short of expectations for the third quarter.
  • There are persistent pressures in isolated pockets of the business.
  • A reconciliation of Adjusted EBITDA to net income is not available without unreasonable efforts on a forward-looking basis.
  • Stock-based compensation expense is specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View EverCommerce