Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 97

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 97
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 driven primarily by an additional $1.5 million in outsourced services, partially offset by a $0.5 million reduction in personnel and compensation expenses and a $0.2 million decrease in professional fees.

General and Administrative

 Three months ended March 31,Change 20252024$ (dollars in thousands)General and administrative$31,281$31,641$(360)

General and administrative expenses decreased by $0.4 million, or 1.1%, for the three months ended March 31, 2025 as compared to the same period in 2024. As a percentage of revenue, general and administrative expenses decreased slightly in the three-month period from 23.0% to 22.0%, an improvement of 100 basis points, due to cost discipline through ongoing transformation initiatives.

Depreciation and Amortization

 Three months ended March 31,Change 20252024$ (dollars in thousands)Depreciation and amortization$16,768$20,904$(4,136)

Depreciation and amortization expenses decreased by $4.1 million, or 19.8%, for the three months ended March 31, 2025 as compared to the same period in 2024. The reduction in depreciation and amortization was driven primarily by the reduced rate of replacement assets resulting from a slowdown in business acquisitions. The decrease for the three-month period was driven primarily by $3.8 million in lower intangible assets’ amortization and $0.3 million of property and equipment depreciation.

28

Loss on Held for Sale and Impairments

 Three months ended March 31,Change 20252024$ (dollars in thousands)Loss on held for sale and impairments$85$11,232$(11,147)

During the three months ended March 31, 2025, we recorded a $0.1 million working capital adjustment related to the disposal of Fitness Solutions. In March 2024, we entered into definitive sale and purchase agreements to sell our Fitness Solutions (see Note 4. Fitness Solutions Disposition in this Quarterly Report on Form 10-Q). During the three months ended March 31, 2024, the North American Fitness transaction resulted in a loss on disposal of $4.8 million and a goodwill impairment charge of $6.4 million representing the allocated goodwill to Fitness Solutions. The three months ended March 31, 2024 included right-of-use lease asset