Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 78

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 78
---
 the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The Company utilizes a three-tier hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:•Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access. •Level 2: Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.•Level 3: Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying value of cash and cash equivalents, accounts receivable, contract assets and accounts payable approximate their fair value because of the short-term nature of these instruments. Our interest rate swaps are valued based upon interest yield curves, interest rate volatility and credit spreads. Our interest rate swaps are classified within Level 2 of the fair value hierarchy as all significant inputs are corroborated by observable data.There were no transfers between fair value measurement levels during the three months ended March 31, 2025 and 2024. 

16

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

The following table presents information about the Company's financial assets and liabilities measured at fair value on a recurring basis as of:March 31, 2025Balance Sheet ClassificationLevel 1Level 2Level 3Total(in thousands)Assets:Money market$1,444 $— $— $1,444 Cash equivalentsInterest rate swaps— 926 — 926 Other non-current assetsLiability:Interest rate swaps$— $3,286 $— $3,286 Other non-current liabilitiesDecember 31, 2024Balance Sheet ClassificationLevel 1Level 2Level 3Total(in thousands)Asset:Money market$9,324 $— $— $9,324 Cash equivalentsInterest rate swaps— 2,443 — 2,443 Other non-current assetsLiability:Interest rate swap$— $947 $— $947 Other non-current liabilities

Note 16. Income Taxes Our provision for income taxes in interim periods is based on our estimated annual effective tax