EverCommerce Inc. (EVCM) Market Cap
EverCommerce Inc. has a market capitalization of $2.15B.
Financials based on reported quarter end 2025-12-31
Price: $12.00
▼ -0.01 (-0.08%)
Market Cap: 2.15B
NASDAQ · time unavailable
CEO: Eric Richard Remer
Sector: Technology
Industry: Software - Infrastructure
IPO Date: 2021-07-01
Website: https://www.evercommerce.com
EverCommerce Inc. (EVCM) - Company Information
Market Cap: 2.15B · Sector: Technology
EverCommerce Inc., together with its subsidiaries, engages in providing integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation. It also provides EverPro suite of solutions in home services; EverHealth suite of solutions within health services; and EverWell suite of solutions in fitness and wellness services. In addition, the company offers professional services, including implementation, configuration, installation, or training services. It serves home service professionals, such as home improvement contractors and home maintenance technicians; physician practices and therapists in the health services industry; and personal trainers and salon owners in the fitness and wellness sectors. The company was formerly known as PaySimple Holdings, Inc. and changed its name to EverCommerce Inc. in December 2020. The company was incorporated in 2016 and is headquartered in Denver, Colorado.
Analyst Sentiment
Based on 15 ratings
Analyst 1Y Forecast: $11.00
Average target (based on 3 sources)
Consensus Price Target
Low
$8
Median
$12
High
$17
Average
$12
Potential Upside: 2.1%
Price & Moving Averages
Fundamentals Overview
Management sounded constructive about 2026—citing AI as an “accelerator” and emphasizing durable growth/FCF—backed by +470 bps operating margin expansion since 2023 and a Q4 beat (revenue $151.2M; adj. EBITDA $44.2M at 29.2% margin). However, the Q&A exposed investor pressure around growth quality: payments were slightly down overall (Q4 payments declined modestly; non-top-six payments down ~6.5% YoY), and management did not provide a direct causal link to the Martech divestiture, instead reframing it as expected portfolio mix between a mature cash engine and a growth top-six funnel. For EverHealth Scribe, demand is supported by hundreds of providers on a waitlist and clear operational metrics, but monetization is indirect (ASP via updated packages), with no quantified per-customer lift disclosed for the no-show tool. The key near-term “hurdle” is the Q1 step-down guidance and continued AI/payments investments before reacceleration in Q2–Q3.
Growth Catalysts
- EverHealth Scribe (AI documentation) rolled out; avg documentation time savings of 8 minutes per patient; received 99.1% satisfaction rate
- EverHealth no-show prediction rolled out to 675+ providers; 60% reduction in patient no-show rate; ~$1,000/month revenue capture per provider
- EverHealth beta progressing to general availability by end of Q1 2026 (end of the first quarter)
- EverPro ZyraTalk (voice interaction layer) early integrations “earlier than expected” and strong early sales uptake
- Shared agentic platform for EverPro positioned as back-half of H2 2026, monetized via premium feature add-ons/increased packaging/pricing/stronger retention
Business Development
- ZyraTalk acquisition (closed Q3 2025) integrated into EverPro AI voice layer
- No named external customers/partners disclosed; evidence of demand via “waitlist with hundreds of providers” for EverHealth Scribe prior to GA
Financial Highlights
- Q4 2025 revenue: $151.2M (+5.2% YoY), above midpoint of guidance
- Q4 2025 adjusted EBITDA: $44.2M; beat top end of guidance; adjusted EBITDA margin 29.2%
- Margin expansion: +470 bps since 2023 (management comment)
- Q4 2025 adjusted gross margin: 77.5% (adjusted gross profit $117M)
- Adjusted operating expenses: 48.3% of revenue (from 47.6% YoY); LTM Opex ratio improved to 46.9% (from 48.6%)
- LTM revenue (pro forma ZyraTalk): $591.7M (+6.4% YoY)
- LTM adjusted EBITDA margin: 30.7%
- TPV expanded to $13B LTM; top-six TPV grew 17.4% YoY and is 36% of total TPV (up from 32% in 2024)
- Payments revenue mix: Comp solution payment revenue +5.9% YoY and is >45% of total payment revenue
Capital Funding
- Capital deployed: nearly $85M total in 2025 to repurchase 8.2M shares (management prepared remarks)
- Q4 repurchase: ~2.5M shares for $24.8M at avg price $9.91/share
- Remaining authorization: ~$47.7M left out of $300M repurchase authorization through 2026
- Liquidity: $130M cash & cash equivalents; $155M undrawn revolver capacity (steps down to $125M in July 2026)
- Debt: $527M outstanding
- Net leverage: ~2.2x on credit facility
- Interest hedges: $425M notional swaps at 3.91% weighted average rate, hedging floating-rate interest through Oct 2027
Strategy & Ops
- Marketing Technology Solutions business sold on 10/31/2025; management states it was a detractor to growth/predictability (impact mentioned in cash flow comparisons)
- Multi-solution enablement: 286,000 customers enabled for >1 solution (+26% YoY); 121,000 active multi-solution customers (+32% YoY)
- Net revenue retention: 96% LTM; multi-solution customers generate NRR >100%
- Onboarding automation and customer success investments highlighted as drivers for activation/utilization
Market Outlook
- Q1 2026 guidance: revenue $145.5M–$148.5M; adjusted EBITDA $39M–$41M
- FY 2026 guidance: revenue $612M–$632M; adjusted EBITDA $183M–$191M
- Guidance assumptions: “typical seasonal performance” with stronger Q2/Q3; first quarter historically higher cash outflows
- Confidence points: management ties 2026 growth cadence to (1) exiting 2025 with strong quarterly performance vs consensus and (2) continued AI investment in 2H25 feeding reacceleration in 2026
Risks & Headwinds
- Q4 free cash flow impacted by removal of Marketing Technology Solutions business (sale on 10/31/2025)
- Payments revenue decline in “other solutions” (-~6.5% YoY implied by Q&A) attributed to portfolio mix dynamics (mature cash-flow portfolio vs growth top-six solutions), not to Martech divestiture
- No-show predictor monetization is via packaged ASP uplift rather than standalone pricing; near-term incremental revenue per customer not quantified in call (Hedberg asked about incremental revenue per customer for 600+ users; answer redirected to GA + package pricing changes)
- Sequential step-down implied: Q4 $151M to lower Q1 guidance range; cited as seasonality plus deliberate investment/execution decisions in payments and go-to-market strategy
Sentiment: MIXED
Note: This summary was synthesized by AI from the EVCM Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.