Company: EVCM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001853145-25-000037
Chunk: 82

Company: EverCommerce Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 82
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 and $0.4 million for the six months ended June 30, 2025 and 2024, respectively, related to capitalized costs associated with abandoned projects, which are included in general and administrative expense on the unaudited condensed consolidated statements of operations and comprehensive loss.

12

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

Note 10. LeasesThe Company leases real estate from unrelated parties under operating lease agreements that have initial terms ranging from one year to 9 years. Some leases include one or more options to renew, generally at our sole discretion, of five additional years each. The components of lease expense are as follows:Three months ended June 30,Six months ended June 30,2025202420252024(in thousands)Operating lease cost$827 $900 $1,681 $2,069 Variable lease cost621 828 1,127 1,276 Short-term lease cost85 138 162 244 Total lease cost$1,533 $1,866 $2,970 $3,589 The Company ceased use of certain leased premises and subleased certain facilities resulting in impairment charges of $0.4 million during the six months ended June 30, 2024 to impair the right-of-use lease assets to their fair value, which are included in loss on held for sale and impairments on our unaudited condensed consolidated statement of operations and comprehensive loss.Supplemental cash flow information related to leases is as follows:Three months ended June 30,Six months ended June 30,2025202420252024(in thousands)Cash paid for operating lease liabilities$977 $1,358 $2,017 $2,479 Operating lease assets obtained in exchange for operating lease liabilities$135 $763 $334 $940 Supplemental balance sheet information, included in other non-current assets, accrued expenses and other and other non-current liabilities on the unaudited condensed consolidated balance sheets, related to leases is as follows:June 30,December 31,20252024(in thousands)Operating lease right-of-use assets$9,459 $10,464 Current operating lease liabilities3,485 3,084 Long-term operating lease liabilities11,632 13,212 Total operating lease liabilities$15,117 $16,296 At June 30, 2025 and December 31, 2024, the weighted average