Company: EVCM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001853145-25-000037
Chunk: 54

Company: EverCommerce Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 54
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 the goodwill balance for impairment as of March 31, 2024 (see Note 4. Fitness Solutions Disposition). During the six months ended June 30, 2024, we recognized a $6.4 million goodwill impairment charge representing the allocated goodwill to Fitness Solutions, which is included in loss on held for sale and impairments on the unaudited condensed consolidated statements of operations and comprehensive loss.

Note 7. Intangible AssetsIntangible assets consisted of the following as of:June 30, 2025UsefulLifeGross CarryingValueAccumulatedAmortizationNet BookValue(in thousands)Customer relationships5-20 years$511,583 $348,495 $163,088 Developed technology5-12 years93,899 80,559 13,340 Trade name3-10 years33,894 26,283 7,611 Non-compete agreements5 years1,940 1,935 5 Total$641,316 $457,272 $184,044 

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EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

December 31, 2024UsefulLifeGross CarryingValueAccumulatedAmortizationNet BookValue(in thousands)Customer relationships5-20 years$511,374 $327,038 $184,336 Developed technology5-12 years93,855 76,430 17,425 Trade name3-10 years33,881 24,477 9,404 Non-compete agreements5 years1,936 1,929 7 Total$641,046 $429,874 $211,172 

Amortization expense was $13.5 million and $16.8 million for the three months ended June 30, 2025 and 2024, respectively, and $27.2 million and $34.3 million for the six months ended June 30, 2025 and 2024, respectively.  

Note 8. Property and EquipmentProperty and equipment consisted of the following as of:June 30,December 31,20252024(in thousands)Computer equipment and software$10,782 $9,873 Furniture and fixtures3,074 3,058 Leasehold improvements9,988 9,988 Total property and equipment23,844 22,919 Less accumulated depreciation(18,054)(16