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01/11 11:05
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Despite missing EPS expectations, EverCommerce demonstrated solid financial performance with revenue growth, improved margins, and strong cash flow. The company's strategic initiatives, including partnerships and channel optimization, are expected to drive future growth. The share repurchase program and positive guidance further support a positive outlook. However, risks such as market competition and regulatory challenges exist. Given the company's market cap, the stock price is likely to experience a positive movement of 2% to 8% over the next two weeks.
Reported EPS $-0.07, down from expectations of $0.02.
Total Revenue $175 million, up 3.3% year-over-year.
Pro Forma Revenue Growth 7% year-over-year, adjusted for the sale of fitness solutions.
Adjusted EBITDA $50.4 million, representing a 28.8% margin, up from 25.4% in Q4 2023.
Adjusted EBITDA Margin Expanded by nearly 340 basis points year-over-year.
Payments Revenue Growth 8.9% year-over-year, driven by 9% growth in TPV.
Subscription and Transaction Revenue $139 million, up 4.2% year-over-year.
Marketing Technology Solutions Revenue $29.6 million, down 1.6% year-over-year.
Adjusted Gross Profit $124 million, with an adjusted gross margin of 70.9%, up from 67.3% in Q4 2023.
Cash Flow from Operations $48.4 million, up from $36 million in Q4 2023.
Levered Free Cash Flow $43.8 million for the quarter.
Adjusted Unlevered Free Cash Flow $39.1 million for the quarter, representing 31.5% year-over-year growth.
Total Net Leverage Approximately 2.2 times.
Debt Outstanding $532 million, maturing in July 2028.
Share Repurchase Approximately 623,000 shares repurchased for $7 million at an average price of $10.88 per share.
Customer Growth: EverCommerce Inc. grew its customer count by more than 7% over the past year, serving over 740,000 customers across its three major verticals.
Revenue Growth: For Q4 2024, GAAP revenue increased 3.3% year over year, with pro forma revenue growth of 7%.
Payments Revenue Growth: Payments revenue, excluding fitness solutions, grew 8.9% year over year, driven by 9% growth in total payment volume (TPV).
Adjusted EBITDA Margin: Adjusted EBITDA margin expanded nearly 340 basis points year over year to 28.8%.
Cost Optimization: Margins improved due to cost optimization initiatives and a mix shift to higher margin products.
Free Cash Flow: Generated $48.4 million in cash flow from operations for Q4 2024, compared to $36 million in Q4 2023.
Strategic Alternatives: EverCommerce Inc. is actively seeking strategic alternatives for its marketing technology solutions, with a planned sale expected in 2025.
Leadership Changes: Josh McCarter was appointed CEO of EverPro, and Evan Berlin was appointed CEO of EverHealth, enhancing leadership for growth.
Focus Shift: The company is shifting focus to core vertical SaaS and embedded payments, moving away from lower-margin marketing technology.
Earnings Expectations: EverCommerce Inc. reported an EPS of $-0.07, missing expectations of $0.02.
Strategic Alternatives: The company is actively seeking strategic alternatives for its marketing technology solutions, which may impact future revenue streams.
Market Competition: EverPro faces competitive pressures in a fragmented market, which could affect customer acquisition and retention.
Regulatory Issues: Potential regulatory challenges could arise as the company navigates its transformation and focuses on vertical SaaS solutions.
Supply Chain Challenges: The company may encounter supply chain challenges as it continues to optimize its product offerings and enhance customer value.
Economic Factors: Economic fluctuations could impact the performance of small and medium-sized businesses, which are the primary customers of EverCommerce Inc.
Debt Management: The company has $532 million of debt outstanding, which could pose risks if cash flow generation does not meet expectations.
Interest Rate Risks: The company has exposure to interest rate fluctuations, with a weighted average rate of 3.91% on its floating rate component.
Strategic Alternatives for Marketing Technology Solutions: EverCommerce Inc. is actively seeking strategic alternatives for its marketing technology solutions, with the sale expected to occur in 2025.
Focus on Core SaaS and Payments: The company is positioning for future growth as a pure-play SaaS and embedded payments platform, emphasizing best-in-class vertical SaaS software.
Leadership Changes: Appointment of Josh McCarter as CEO of EverPro and Evan Berlin as CEO of EverHealth to drive transformation and growth.
Customer Growth: EverCommerce Inc. grew its customer count by more than 7% over the past year, reaching over 740,000 customers.
Investment in Product Development: The company is investing in product capabilities and go-to-market strategies to enhance customer acquisition and retention.
Q1 2025 Revenue Guidance: Expected total revenue of $138 to $141 million.
Q1 2025 Adjusted EBITDA Guidance: Expected adjusted EBITDA of $39 million to $41 million.
Full Year 2025 Revenue Guidance: Expected total revenue of $581 million to $601 million.
Full Year 2025 Adjusted EBITDA Guidance: Expected adjusted EBITDA of $167.5 million to $175.5 million.
Share Repurchase: In the fourth quarter, EverCommerce repurchased approximately 623,000 shares for $7 million at an average price of $10.88 per share. As of December 31, 2024, there was approximately $32.7 million remaining in the share repurchase authorization, which runs through year-end 2025.
The earnings call highlights a positive financial performance with revenue and EBITDA growth, cost optimization, and margin expansion. The share repurchase program increase is a positive catalyst. Despite some macroeconomic impacts, guidance remains strong. The Q&A session provided clarity on strategic acquisitions and pricing models, with management showing confidence in future growth. Given the company's market cap, these factors suggest a positive stock price movement of 2% to 8% over the next two weeks.
The earnings call summary shows strong financial performance, with stable gross margins and improved cash flows. AI initiatives and payment strategies are promising, and the shareholder return plan is favorable. The Q&A section reveals cautious yet optimistic guidance, with management focusing on efficiency and growth. The market cap suggests a moderate reaction, resulting in a positive stock price movement prediction.
The earnings call highlights strong financial performance with a 3.2% revenue increase and 16.3% EBITDA growth. Positive guidance for 2025 and a $50 million share repurchase program further bolster sentiment. Despite competitive pressures and debt concerns, the company's strategic transformation and focus on payments integration provide growth potential. The Q&A session reassures on macroeconomic impacts and emphasizes upsell opportunities, supporting a positive outlook. Given the market cap of approximately $2 billion, the stock price is likely to experience a moderate positive reaction, estimated between 2% to 8%.
Despite missing EPS expectations, EverCommerce demonstrated solid financial performance with revenue growth, improved margins, and strong cash flow. The company's strategic initiatives, including partnerships and channel optimization, are expected to drive future growth. The share repurchase program and positive guidance further support a positive outlook. However, risks such as market competition and regulatory challenges exist. Given the company's market cap, the stock price is likely to experience a positive movement of 2% to 8% over the next two weeks.
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