Welcome to our dedicated page for Evercommerce news (Ticker: EVCM), a resource for investors and traders seeking the latest updates and insights on Evercommerce stock.
EverCommerce Inc. (NASDAQ: EVCM) is described as a service commerce platform and a provider of vertically tailored, integrated SaaS solutions for service-based small- and medium-sized businesses. The EVCM news page on Stock Titan aggregates company announcements, press releases, and other coverage so readers can follow how EverCommerce communicates its strategy and performance over time.
News about EverCommerce frequently includes quarterly financial results, which the company furnishes in press releases and related Form 8-K filings. These updates typically discuss revenue from continuing operations, subscription and transaction fees revenue, net income or loss from continuing operations, and Adjusted EBITDA, along with commentary on cost optimization efforts and transformation initiatives.
Investors can also find capital markets and balance sheet updates, such as announcements about share repurchase authorizations and activity and changes to the company’s credit facilities. For example, EverCommerce has reported repricing and extending the maturities of its term loan and revolving credit facilities through amendments to its credit agreement.
Strategic and operational developments are another recurring theme in EVCM news. The company has announced the acquisition of ZyraTalk, an AI-powered customer engagement solution, describing it as a way to expand and accelerate AI capabilities across its SaaS solutions. EverCommerce has also disclosed the sale of its Marketing Technology solutions, collectively known as EverConnect, to Ignite Visibility as part of its transformation and optimization program.
In addition, EverCommerce issues releases about investor conference participation, earnings call schedules, and events within its verticals, such as activities in the EverPro division for home and field services. Readers who follow EVCM news can track how the company describes its progress in Home, Health, and Wellness service industries, its use of AI, and its financial and capital allocation decisions.
ClubWise, a solution from EverCommerce (NASDAQ: EVCM), is launching a free virtual Fitness Business Bootcamp starting on August 16, 2021. This six-week program is designed to aid gym owners by providing networking opportunities and educational sessions focused on key areas for fitness club success, including member onboarding and utilizing technology to enhance the club experience. ClubWise supports over 1,000 fitness clubs across the U.S., U.K., Ireland, and Australia, offering services that improve member engagement and club management.
EverCommerce (NASDAQ: EVCM) reported a remarkable 53% revenue growth for Q2 2021, totaling $121.1 million, compared to $79.3 million in Q2 2020. Despite a net loss of $24.3 million ($0.56 per share), adjusted EBITDA improved to $27.6 million. The company raised $303.9 million from its IPO, selling 19.1 million shares at $17 each. With cash reserves of $202.6 million, EverCommerce aims to leverage its position in the underpenetrated service SMB market through acquisitions, including Timely and MDTech, while expecting future revenues between $471 million and $474 million for 2021.
EverCommerce, Inc. (NASDAQ:EVCM) will release its second quarter fiscal year 2021 financial results on August 9, 2021, after market close. The company will hold a conference call at 5:00 p.m. Eastern Time on the same day to discuss these results, along with financial guidance and business updates. EverCommerce serves over 500,000 service-based businesses with SaaS solutions across Home Services, Health Services, and Fitness & Wellness, facilitating growth and operational efficiency.
EverCommerce (Nasdaq: EVCM) has acquired Medical Design Technologies (MDTech), a provider of mobile charge capture solutions. This acquisition, which integrates MDTech into EverHealth's suite, aims to enhance efficiency in healthcare operations, particularly for small- to medium-sized practices. Founded in 2015, MDTech focuses on reducing claim denials and increasing revenues through innovative solutions. Although the financial terms remain undisclosed, the acquisition is expected to bolster EverCommerce's offerings, serving over 72,000 customers and enhancing patient engagement.
EverCommerce (EVCM) has successfully acquired Timely, a global appointment booking and business management software company. This acquisition enhances EverCommerce's offerings in the salon and spa industry across the UK, Australia, and New Zealand. Timely serves over 50,000 beauty professionals worldwide, facilitating more than 30 million appointments annually. The integration aims to streamline operations and improve customer engagement within EverCommerce’s Fitness and Wellness portfolio, reflecting the company's growth strategy in the service commerce sector.
EverCommerce has priced its initial public offering (IPO) of 19,117,648 shares at $17.00 each, set to begin trading on NASDAQ under the ticker symbol EVCM on July 1, 2021. The IPO is anticipated to close on July 6, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to purchase up to 2,867,647 extra shares. EverCommerce will also engage in a private placement for 4,411,764 shares with Silver Lake at the IPO price. The closing of the IPO isn't reliant on this private placement.
EverCommerce has filed a registration statement on Form S-1 for a proposed initial public offering (IPO) of its common stock. The share count and price range are not yet determined. The stock will be listed on NASDAQ under the symbol 'EVCM.' Leading the offering are Goldman Sachs, J.P. Morgan, and RBC Capital Markets, among others. The registration has been submitted to the SEC but is not yet effective. This move aims to enhance EverCommerce's growth and operational capabilities in the service commerce sector, which serves over 500,000 businesses.