Slide 1: Earnings Call Presentation
Earnings Call Presentation Q2 2022 – August 8, 2022
Slide 2: Safe Harbor
SAFE HARBOR This presentation contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Se
Slide 3: Eric Remer, Chairman and Chief Executive Officer
Eric Remer Chairman and Chief Executive Officer 3
Slide 4: Q2 2022 Highlights
Q2 2022 Highlights > Exceeded the top end of guidance for both Revenue and Adjusted EBITDA Robust 2Q22 YoY growth: 30% reported Revenue growth; 16% Pro Forma > Revenue growth; 20% LTM YoY Pro Forma Revenue growth Balanced investing in growth while driving profitability and free cash flow > generatio
Slide 5: 600,000+ Global Customers and Key Metrics
600,000+ Global Customers $565M 2,100+ Global Employees LTM REVENUE 39% LTM YoY REVENUE GROWTH 20% LTM YoY PRO FORMA REVENUE GROWTH 20% LTM Adj. EBITDA MARGIN $10.1B EST. ANNUALIZED TPV Simplifying and empowering the lives of business owners whose services support us every day 5
Slide 6: Diverse Customer Base Across Key Verticals
Diverse Customer Base Across Key Verticals Other Services Home Services Health Services Fitness & Wellness Services NORTH AMERICA TAM $59B $84B $21B $356B HVAC Primary Care Big Box Gyms Nonprofit Plumbing Behavioral Health Health Clubs Professional Services Electrical Cardiology Boutique Studios Edu
Slide 7: Continued Growth in Customers Utilizing Multiple Solutions
Continued Growth in Customers Utilizing Multiple Solutions Customers Utilizing More Than One Solution (000s)1 65 60 >65k customers currently utilize more 54 55 than one solution 35% YoY growth 48 Increased adoption drives Annualized Net Revenue Retention, greater than 100% in 2Q22 2Q21 3Q21 4Q21 1Q2
Slide 8: Consistent TPV Growth
Consistent TPV Growth Total Payment Volume (TPV, B) Embedded payments a key lever to drive $9.5 $10.1 customer expansion $9.1 $8.6 $8.0 Customers who take embedded payments not only yield higher ARPU, but also improved retention TPV growth is driven by both increased customer adoption and increased
Slide 9: Marc Thompson, Chief Financial Officer
Marc Thompson Chief Financial Officer
Slide 10: Revenue Beat Driven by Steady Organic Growth
Revenue Beat Driven by Steady Organic Growth Revenue (M) Pro Forma Revenue Growth Rate1 $157.2 $143.6 2Q22 LTM 2Q222 $135.6 $128.5 $121.1 PF Growth % 16.1% 19.8% 30% reported 2Q22 YoY Revenue growth includes M&A; 16% Pro forma YoY growth normalizing for acquisitions 2Q21 3Q21 4Q21 1Q22 2Q22 Recurrin
Slide 11: Adjusted EBITDA Margins expand to 20%
Adjusted EBITDA Margins expand to 20% Adjusted EBITDA (M) 2Q21 3Q21 4Q21 1Q22 2Q22 $30.7 $29.0 $29.3 $27.6 Adj. Gross 66.2% 66.6% 68.5% 64.7% 65.0% Profit Margin1 $23.0 Adj. EBITDA 22.8% 22.6% 21.6% 16.0% 19.6% Margin1 2Q22 adjusted Gross Profit Margin of 65% reflects inclusion of DrChrono and mix o
Slide 12: FCF Generation Provides Flexibility…
FCF Generation Provides Flexibility… Levered Free Cash Flow Adjusted Unlevered Free Cash Flow1 (LFCF, M) (aUFCF, M) $21.7 $22.2 $22.3 $20.0 $19.7 $14.9 $8.5 $5.5 $5.7 $6.5 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 2Q22 LFCF of $6.5M 13% YoY growth in aUFCF yields a healthy 14.2% margin $40.6
Slide 13: To Maintain an Optimal Capital Structure and Efficiently Allocate Capital
… To Maintain an Optimal Capital Structure and Efficiently Allocate Capital $50M, 6-month share repurchase ($mm) Q2 2022 program authorized on June 14 BALANCE SHEET Cash and cash equivalents $105 Repurchased 296k shares through June 30 Debt, gross $552 for $2.7M Debt, net of cash and cash equivalent
Slide 14: Outlook
Outlook Q3 2022 FY 2022 Total Revenue $159 – 161M $626 – 630M Adjusted EBITDA $31.5 – 32.5M $123 – 125M 14
Slide 15: Q&A
Evercommerce Q&A
Slide 16: Appendix
Appendix
Slide 17: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Adjusted EBITDA LTM ($ in 000s) Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 2Q21 2Q22 Net Loss $(24,334) $(36,906) $(4,731) $(13,309) $(12,881) $(66,695) $(67,828) Adjusted to Exclude the Following: Interest and Other Expense, Net 13,165 5,148 4,849 5,478 6,702 46,761 22,
Slide 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Adjusted Gross Profit LTM ($ in 000s) Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 2Q21 2Q22 Gross Profit1 $75,521 $80,327 $87,808 $87,278 $96,542 $255,278 $351,955 Adjusted to Exclude the Following: Depreciation and Amortization 4,673 5,249 5,099 5,553 5,601 17,175 21,502
Slide 19: aUFCF and LFCF Reconciliations
aUFCF and LFCF Reconciliations Levered and Adjusted Unlevered Free Cash Flow LTM ($ in 000s) Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 2Q21 2Q22 Cash Flow from Operations $9,232 $9,841 $23,809 $12,854 $11,150 $70,176 $57,652 Adjusted for the Following: Purchase of PP&E (874) (796) (1,171) (889) (676)
Slide 20: GAAP to Non-GAAP OpEx Reconciliation
GAAP to Non-GAAP OpEx Reconciliation Adjusted Operating Expenses LTM ($ in 000s) Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 2Q21 2Q22 Sales and Marketing $22,802 $25,156 $26,142 $30,145 $29,946 $68,504 $111,389 Adjusted for the Following: Stock-based Compensation (113) (157) (207) (328) (419) (142) (1,
Slide 21: Definitions
Definitions Adjusted Gross Profit: Adjusted Gross Profit is calculated as gross profit adjusted to exclude depreciation and amortization allocated to cost of revenues. Gross profit is calculated as total revenues less cost of revenues (exclusive of depreciation and amortization), amortization of dev
Slide 22: Definitions
Definitions Levered Free Cash Flow: Levered Free Cash Flow (LFCF) is calculated as Cash Flow from Operations, adjusted for purchases of PP&E and capitalized software costs. Purchases of PP&E and capitalized software costs are cash expenses unrelated to financing activities and as such are included i