EverCommerce Announces First Quarter 2022 Financial Results

About this update from Evercommerce Inc.

[{"type":"text","content":"DENVER, May 09, 2022 (GLOBE NEWSWIRE) -- EverCommerce Inc. (NASDAQ: EVCM), a leading service commerce platform, today announced financial results for the quarter ended March 31, 2022. First Quarter 2022 Financial Highlights Revenue of $143.6 million, compared to previously issued guidance of $140 million to $141 million, an increase of 36.9% compared to $104.9 million for the quarter ended March 31, 2021.YoY Pro forma revenue growth rate of 20.2% for the quarter ended March 31, 2022.Net loss was $13.3 million, or ($0.07) per basic and diluted share, for the quarter ended March 31, 2022. This compares to a net loss of $16.0 million, or ($0.72) per basic and diluted share, for the quarter ended March 31, 2021.Adjusted EBITDA was $23.0 million, compared to previously issued guidance of $21.5 million to $22.0 million, an increase of 7.8% compared to $21.3 million for the quarter ended March 31, 2021.Management raised its financial guidance for full-year 2022 Revenue and Adjusted EBITDA. “EverCommerce’s first quarter results were very strong,” said Eric Remer, EverCommerce’s Founder and CEO. “We reported Revenue and Adjusted EBITDA results that were above the previously announced guidance ranges, while also reporting greater than 20% Pro forma growth and maintaining healthy margins and cash flow generation. These results are underpinned by a massive opportunity we have with the digitization of the service economy still in the early innings, which we expect to fuel growth for years to come.” A reconciliation of GAAP to Non-GAAP measures has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.” Business Outlook Based on information as of today, May 9, 2022, the Company is issuing the following financial guidance for the second quarter and full year 2022. Second Quarter 2022: Revenue is expected to be in the range of $152 million to $154 million.Adjusted EBITDA is expected to be in the range of $28 million to $29 million. Full Year 2022: Revenue is expected to be in the range of $623 million to $629 million.Adjusted EBITDA is expected to be in the range of $122.5 million to $124.5 million. A reconciliation of Adjusted EBITDA to net income, the most directly comparable GAAP measure, is not availabl...

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