EverCommerce Inc. (EVCM) Bundle
A Brief History of EverCommerce Inc. (EVCM)
Company Formation and Early Years
EverCommerce Inc. was founded in 1998 and became publicly traded under the ticker symbol EVCM on the NASDAQ exchange in 2021.
The company initially focused on providing software solutions for various service-based industries, including health and wellness, home services, and professional services.
Acquisitions and Growth Strategy
EverCommerce has pursued a strategic acquisition strategy to enhance its service offerings and expand its market presence.
- In 2018, EverCommerce acquired WellnessLiving, a cloud-based business management software for the wellness industry.
- In 2020, it acquired Gains In Health, enhancing its offerings in the health and wellness sector.
- In 2021, EverCommerce completed the acquisition of MDTech to expand its healthcare sector services.
Financial Information
As of Q2 2023, EverCommerce reported revenue growth of 23% year-over-year, reaching approximately $257 million.
The company’s market capitalization as of October 2023 was approximately $1.2 billion.
| Year | Revenue (in millions) | Net Income (in millions) | Market Capitalization (in billions) |
|---|---|---|---|
| 2021 | $140 | ($30) | $1.1 |
| 2022 | $210 | ($10) | $1.3 |
| 2023 (Q2) | $257 | $5 | $1.2 |
Recent Developments
In 2023, EverCommerce launched new features for its existing platforms, aiming to enhance user experience and improve operational efficiency for clients.
The company has focused on integrating Artificial Intelligence into its software solutions to automate processes and provide better insights and analytics for business users.
Market Position and Competitive Landscape
EverCommerce operates in a competitive landscape with notable players such as:
- Mindbody
- Rainmaker
- ServiceTitan
As of 2023, EverCommerce holds a significant share in the service-based software sector, emphasizing its commitment to innovation and customer-centric solutions.
A Who Owns EverCommerce Inc. (EVCM)
Current Shareholdings
Current Shareholdings
As of the latest filings, the ownership structure of EverCommerce Inc. (EVCM) is distributed among various institutional and individual investors. Below is a detailed breakdown of the major shareholders:
| Shareholder Type | Ownership Percentage | Number of Shares | Value (approx.) |
|---|---|---|---|
| Institutional Investors | 65.3% | 25,000,000 | $365,000,000 |
| Insider Holdings | 9.7% | 3,880,000 | $56,000,000 |
| Retail Investors | 25.0% | 10,000,000 | $145,000,000 |
Top Institutional Holders
The following table indicates the top institutional holders of EVCM stock along with their respective holdings:
| Institution | Ownership Percentage | Number of Shares | Value (approx.) |
|---|---|---|---|
| The Vanguard Group | 12.8% | 5,120,000 | $74,000,000 |
| BlackRock Inc. | 10.5% | 4,200,000 | $61,000,000 |
| Goldman Sachs Group | 8.3% | 3,320,000 | $48,000,000 |
| Susan G. Komen Foundation | 3.6% | 1,440,000 | $21,000,000 |
Insider Ownership
The insider ownership includes members of the executive team and the board of directors. The following are the key insiders and their respective stakes:
| Name | Position | Ownership Percentage | Number of Shares |
|---|---|---|---|
| Eric Remer | CEO | 3.2% | 1,280,000 |
| Katherine D. Smith | CFO | 1.0% | 400,000 |
| John Cardon | Chairman | 0.5% | 200,000 |
Recent Transactions
Recent transactions in EVCM stock have displayed significant activity. In the past quarter, the following notable transactions were recorded:
- Institutional purchases: 1,500,000 shares
- Insider sales: 500,000 shares
- Retail trades: 2,000,000 shares
Market Capitalization
As of the latest market close, EverCommerce Inc. has a market capitalization of approximately $560 million.
Stock Performance
Over the past year, the stock has experienced fluctuations with the following metrics:
| Metric | Value |
|---|---|
| 52-Week High | $18.50 |
| 52-Week Low | $11.00 |
| Current Price | $14.20 |
Conclusion of Ownership Structure
Understanding the ownership structure of EverCommerce Inc. provides insights into the company’s governance and potential future performance. The balance between institutional, insider, and retail investors shapes the strategic directions and decisions made within the company.
EverCommerce Inc. (EVCM) Mission Statement
Overview of EverCommerce Inc.
EverCommerce Inc. (EVCM) is a service commerce platform primarily focused on healthcare and fitness industries. The company operates with the intent of delivering innovative solutions and transforming the way service businesses interact with their customers.
Mission Statement
The mission of EverCommerce Inc. is to empower service-based businesses by providing a robust technology platform that enhances operational efficiency, customer engagement, and revenue growth. This mission underpins their strategic objectives and forms the core of their business operations.
Core Values
- Innovation: Continually pursuing advancements in technology.
- Customer Commitment: Focusing on client success and satisfaction.
- Integrity: Upholding ethical standards in all dealings.
- Collaboration: Working together to achieve shared goals.
Strategic Goals
EverCommerce aims to achieve the following strategic goals:
- Maximize customer retention rates through exceptional service delivery.
- Expand into new markets for diversified revenue streams.
- Increase operational efficiencies by leveraging advanced technology solutions.
Financial Overview
As of the end of 2022, EverCommerce reported key financial metrics:
| Metric | Value |
|---|---|
| Total Revenue | $410 million |
| Net Income | $20 million |
| EBITDA | $100 million |
| Market Capitalization | $1.2 billion |
| Total Assets | $750 million |
| Total Liabilities | $300 million |
Customer Segments
EverCommerce serves various customer segments, including:
- Healthcare Providers
- Fitness and Wellness Centers
- Home Services
- Education and Training Services
Technological Innovations
EverCommerce has made notable advancements in technology, including:
- Development of a cloud-based service platform.
- Implementation of AI-driven analytics for customer insights.
- Integration capabilities with third-party applications.
Recent Acquisitions
In line with its growth strategy, EverCommerce has acquired several companies:
| Acquisition | Year | Purpose |
|---|---|---|
| MDTech | 2023 | Expand healthcare software solutions. |
| Fitness Business Systems | 2022 | Enhance fitness management offerings. |
| Homebase | 2021 | Broaden service capabilities in home services. |
Conclusion on Mission Statement
The mission statement of EverCommerce Inc. reflects its commitment to driving value and growth for service-based businesses across multiple verticals, leveraging technology and customer-centric strategies.
How EverCommerce Inc. (EVCM) Works
Company Overview
EverCommerce Inc. (EVCM) is a service commerce platform focusing on vertical specific software solutions for service-based businesses across various sectors, including health and wellness, home services, and veterinary services.
Business Model
EverCommerce operates primarily on a SaaS (Software as a Service) model, providing cloud-based software solutions. This model enables recurring revenue streams through subscription-based services.
Financial Performance
As of the end of Q2 2023, EverCommerce reported total revenues of $468 million, representing an increase of 20% year-over-year. The adjusted EBITDA was $105 million, yielding an EBITDA margin of 22.4%.
| Financial Metric | Q2 2023 | Q2 2022 | Year-over-Year Growth |
|---|---|---|---|
| Total Revenue | $468 million | $390 million | 20% |
| Adjusted EBITDA | $105 million | $84 million | 25% |
| EBITDA Margin | 22.4% | 21.5% | 4.2% |
Key Acquisitions
EverCommerce has strategically acquired several companies to expand its service offerings. Notable acquisitions include:
- In 2022, acquired MDTech, enhancing its health services software portfolio.
- In 2021, acquired VitusVet, which enriches veterinary service management.
- In 2020, acquired Fresha, a beauty and wellness appointment platform.
Market Presence
EverCommerce operates in over 10 verticals, facilitating services to more than 15,000 customers globally.
Employee Count
As of 2023, EverCommerce employs approximately 1,500 staff members across various departments including technology, sales, and customer support.
Stock Performance
As of October 2023, the stock price of EverCommerce Inc. (EVCM) is trading at approximately $10.25 per share, with a market capitalization of around $1.2 billion.
| Stock Performance Metric | Value |
|---|---|
| Current Share Price | $10.25 |
| Market Capitalization | $1.2 billion |
| 52-Week High | $12.60 |
| 52-Week Low | $7.90 |
Customer Segments
EverCommerce caters to multiple customer segments, including:
- Health and Wellness: Solutions for fitness, beauty, and health professionals.
- Home Services: Platforms for contractors and service providers in home improvement.
- Veterinary Services: Software solutions for pet care and veterinary clinics.
Future Outlook
For fiscal year 2023, EverCommerce expects to achieve total revenues between $950 million and $1 billion, with continued focus on expansion through technology and strategic acquisitions.
How EverCommerce Inc. (EVCM) Makes Money
Overview of Revenue Streams
Overview of Revenue Streams
EverCommerce Inc. (EVCM) primarily generates revenue through several key segments which include:
- Subscription Services
- Transaction Fees
- Professional Services
- Advertising and Marketing Services
Subscription Services
Subscription services form a significant portion of EverCommerce's revenue. In Q2 of 2023, EverCommerce reported:
| Quarter | Subscription Revenue (in millions) | Year-over-Year Growth (%) |
|---|---|---|
| Q2 2023 | $59.2 | 25% |
| Q1 2023 | $56.5 | 24% |
| Q4 2022 | $54.1 | 22% |
Transaction Fees
Transaction fees are earned from payment processing services integrated within their platforms. In FY 2022, transaction fees contributed approximately:
| Year | Transaction Fees Revenue (in millions) | Growth Rate (%) |
|---|---|---|
| 2022 | $37.5 | 30% |
| 2021 | $28.9 | 28% |
Professional Services
Professional services include consulting, training, and support. As of Q2 2023, the revenue from professional services was:
| Quarter | Professional Services Revenue (in millions) | Year-over-Year Growth (%) |
|---|---|---|
| Q2 2023 | $25.3 | 15% |
| Q1 2023 | $23.8 | 13% |
Advertising and Marketing Services
Advertising and marketing services provide an additional revenue stream through their platforms. In FY 2022, this segment saw revenues of:
| Year | Advertising Revenue (in millions) | Growth Rate (%) |
|---|---|---|
| 2022 | $15.4 | 20% |
| 2021 | $12.8 | 18% |
Geographical Revenue Distribution
The geographical distribution of EverCommerce’s revenue is broad, with significant contributions from multiple regions. Here is a breakdown based on the 2022 financial reports:
| Region | Revenue (in millions) | Percentage of Total Revenue (%) |
|---|---|---|
| North America | $120.0 | 75% |
| Europe | $25.0 | 15% |
| Asia-Pacific | $10.0 | 10% |
Future Growth Projections
EverCommerce's revenue growth projections for the upcoming year are promising. Analysts have estimated the following:
| Year | Projected Revenue (in millions) | Projected Growth Rate (%) |
|---|---|---|
| 2023 | $210.0 | 20% |
| 2024 | $250.0 | 19% |
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