EverCommerce Inc. reports developments for a service commerce software platform serving small and medium-sized businesses in home services, health services, and wellness services. Its EverPro, EverHealth, and EverWell brands provide vertically tailored SaaS, AI-driven workflows, business management software, embedded payment acceptance, marketing technology, and customer experience applications.
Recurring company news includes quarterly financial results and guidance, subscription and transaction fee trends, Adjusted EBITDA commentary, share repurchase authorization updates, product launches such as EverHealth Scribe within DrChrono, strategic AI partnerships, investor conference appearances, and portfolio changes involving service-industry marketing capabilities.
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.