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EverCommerce Inc. (EVCM) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements, showing total revenues of $698.8 million, an increase from $675.4 million in the previous year. The growth was primarily driven by an increase in subscription and transaction fees, which rose by 5.4% to $548.3 million.
The company reported a net loss of $41.1 million for the year, compared to a net loss of $45.6 million in the previous year. The decrease in net loss is attributed to a reduction in interest and other expenses, which fell by 23.4%.
EverCommerce's cost of revenues decreased by 1.1% to $228.4 million, while sales and marketing expenses declined by 0.9% to $122.5 million. Product development expenses increased by 5.4% to $79.7 million, reflecting continued investment in technology.
General and administrative expenses rose by 5.4% to $139.4 million, driven by increased personnel costs and software expenses. Depreciation and amortization expenses decreased by 14.8% to $88.8 million due to a slowdown in business acquisitions.
The company recorded a goodwill impairment charge of $28.1 million related to its marketing technology solutions, in addition to a $6.4 million impairment charge for its fitness solutions, which were divested in 2024.
EverCommerce's cash flow from operating activities was $113.2 million, an increase from $104.6 million in the prior year. The increase was primarily due to higher cash collections from subscription and transaction fees.
As of December 31, 2024, EverCommerce had cash and cash equivalents of $135.8 million and $532.1 million outstanding under its term loan. The company believes its existing cash resources and cash flows from operations will be sufficient to meet its obligations for at least the next twelve months.
The company is evaluating strategic alternatives for its marketing technology solutions and expects to reflect these as discontinued operations beginning with its first quarter 2025 financial reporting.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the EverCommerce Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.