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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.
EverCommerce
EverCommerce
EverCommerce Revenue by Segment
Revenue by Segment
Subscription and transaction fees Revenue
CapyFin.comOther Revenue
CapyFin.com 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