Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 48

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 48
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,595 Amortization expense was $2.4 million for the three months ended March 31, 2025 and 2024. During the ordinary course of business, the Company may determine that certain capitalized features of its software will no longer be used either internally or to deliver value to its customers. The Company recorded a charge of $0.4 million for the three months ended March 31, 2025 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. The Company did not have similar charges for the three months ended March 31, 2024.

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. 

11

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

The components of lease expense are as follows:Three months ended March 31,20252024(in thousands)Operating lease cost$854 $1,169 Variable lease cost506 448 Short-term lease cost77 106 Total lease cost$1,437 $1,723 The Company ceased use of certain leased premises and subleased certain facilities resulting in impairment charges of $0.4 million during the three months ended March 31, 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 March 31,20252024(in thousands)Cash paid for operating lease liabilities$1,130 $1,145 Operating lease assets obtained in exchange for operating lease liabilities$199 $177 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:March 31,December 31,20252024(in thousands)Operating lease right-of-use assets$9,992 $10,464 Current operating lease liabilities3,238 3,084 Long-term operating lease liabilities12,465 13,212 Total operating lease liabilities$15,703 $16,296 At March