Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 65

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 65
---
 an impairment charge of $9.4 million, comprised of a goodwill impairment charge of $6.9 million and a valuation allowance of $2.6 million to adjust the carrying value of the marketing technology disposal group to estimated fair value less cost to sell, which is included in loss on held for sale and impairments within discontinued operations on our unaudited condensed consolidated statements of operations and comprehensive loss.The following table summarizes the results of operations of marketing technology solutions reported as discontinued operations:Three months ended March 31,20252024(in thousands)Total revenues$28,632 $32,261 Operating expenses:Cost of revenues (exclusive of depreciation and amortization presented separately below)20,661 25,292 Sales and marketing2,702 2,204 Product development1,086 894 General and administrative2,283 2,149 Depreciation and amortization1,191 2,047 Loss on held for sale and impairments9,433 (11)Total operating expenses37,356 32,575 Operating loss(8,724)(314)Other income, net3 — Net loss before income tax benefit(8,721)(314)Income tax benefit74 — Loss from discontinued operations, net of income tax$(8,647)$(314)The components of assets and liabilities classified as held for sale on our condensed consolidated balance sheets were as follows:March 31,December 31,20252024(in thousands)Assets:Accounts receivable, net9,302 9,065 Contract assets462 474 Prepaid expenses and other current assets2,104 1,883 Property and equipment, net504 529 Capitalized software, net2,274 2,071 Other non-current assets3,399 3,359 Intangible assets, net14,670 15,668 Goodwill16,288 23,152 Total assets49,003 56,201 Valuation allowance(2,568)— Assets held for sale$46,435 $56,201 Liabilities:Accounts payable$978 $1,442 Accrued expenses and other9,187 7,659 Deferred revenue4,592 3,009 Customer deposits261 2,188 Other long-term liabilities608 973 Liabilities held for sale15,626 15,271 Assets held for sale, net$30,809 $40,