Company: EVCM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001853145-25-000047
Chunk: 17

Company: EverCommerce Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 17
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0%, for the three and nine months ended September 30, 2025, respectively, as compared to the same periods in 2024. Product developments expenses were relatively consistent in the three-month period as compared to the prior year period and declined as a percentage of revenue by 50 basis points. The increase in the nine-month period was driven primarily by an additional $2.7 million in outsourced services and $0.8 million in software and tools, partially offset by a $2.3 million reduction in personnel and compensation expenses.

General and Administrative

 Three months ended September 30,ChangeNine months ended September 30,Change 20242023$20252024$ (dollars in thousands)General and administrative$35,362$31,625$3,737 $98,764$95,978$2,786 

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General and administrative expenses increased by $3.7 million, or 11.8%, and $2.8 million, or 2.9%, for the three and nine months ended September 30, 2025, respectively, as compared to the same periods in 2024. The increase for the three-month period was driven primarily by an additional $4.7 million in professional and legal fees, $1.4 million in outsourced services, $0.7 million in bad debt expense, and $0.2 million in software and tools. These increases were partially offset by a $2.3 million decrease in personnel and compensation expense and a $1.6 million decrease in stock-based compensation expense. The increase for the nine-month period was driven primarily by an additional $1.8 million in professional and legal fees, $2.5 million in outsourced services, $1.5 million in stock-based compensation expense, $0.9 million in bad debt expense, $0.7 million in software and tools, and $0.6 million in capitalized software abandonment expenses. These increases were partially offset by an additional $4.5 million decrease in personnel and compensation expense, a $1.6 million decrease in insurance expense, and a $0.9 million decrease in facility expense. The increases in professional and legal fees for the three and the nine-month periods is primarily associated with transaction-related activity from acquisition and divestitures during 2025 as well as debt modification costs, while the increase in outsourced services is driven by cost optimization efforts utilizing third-party services enabling the reduction in personnel and compensation