EverCommerce Q4 2023 Earnings Report
Key Takeaways
EverCommerce reported a 4.7% increase in revenue to $169.4 million compared to the previous year. The company's Adjusted EBITDA was above the top end of guidance, representing a 22% increase and 370 basis points of YoY margin expansion. However, net loss increased to $23.3 million, or ($0.12) per basic and diluted share.
Revenue increased by 4.7% to $169.4 million compared to Q4 2022.
YoY Pro forma revenue growth rate of approximately 4.3% for the quarter ended December 31, 2023.
Net loss was $23.3 million, or ($0.12) per basic and diluted share, compared to a net loss of $17.8 million, or ($0.09) per basic and diluted share, in Q4 2022.
Adjusted EBITDA increased to $43.1 million, compared to $35.2 million in the same quarter last year.
EverCommerce
EverCommerce
EverCommerce Revenue by Segment
Forward Guidance
The Company is issuing financial guidance for the first quarter and full year 2024, excluding EverCommerce’s fitness assets.
Positive Outlook
- First Quarter 2024 Revenue is expected to be in the range of $160.5 million to $163.5 million.
- First Quarter 2024 Adjusted EBITDA is expected to be in the range of $36 million to $38 million.
- Full Year 2024 Revenue is expected to be in the range of $676 million to $696 million.
- Full Year 2024 Adjusted EBITDA is expected to be in the range of $167 million to $176 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income