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EverCommerce’s Q2 Revenue Beat Estimates, Guidance Raised

EverCommerce Inc. (NASDAQ:EVCM) reported its Q2 earnings results, with EPS coming in at ($0.07), worse than the Street estimate of $0.04. Revenue was $157.2 million, compared to the Street estimate of $153 million.
According to the analysts at Deutsche Bank, both quarterly revenue and EBITDA were better than expected with management characterizing the evolving macro backdrop as only having an impact on marketing-based solutions focused on discretionary areas. This remains a small part of the company’s business, with the majority of revenue generally tied to more non-discretionary business models (i.e. subscription) and to more steady areas of the economy (i.e. break/fix repairs, health services).
Full 2022-year revenue and EBITDA guidance were raised, albeit by slightly less than the Q2 beat due to (1) incremental FX headwinds of $1.2 million for H2, (2) accounting for some macro impact related to marketing solutions, and (3) some additional macro conservatism.
The analysts see updated guidance as prudent and believe the company’s strong visibility on pipeline and a digital-first go-to-market strategy creates an ability to be nimble if the macro worsens.

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