Company: EVCM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001853145-25-000037
Chunk: 19

Company: EverCommerce Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 19
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 on the Company’s Credit Facilities (as defined below), the amendment to the Term Loan (as defined below) in the fourth quarter 2024 resulting in a reduction in margin and the removal of the credit spread adjustment, and the swap executed in the third quarter 2024 to covert $125 million of the floating rate component of our Term Loan to a fixed rate (see Note 11. Long-Term Debt in this Quarterly report on Form 10-Q).

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Income Tax Expense

 Three months ended June 30,ChangeSix months ended June 30,Change 20252024$20252024$ (dollars in thousands)Income tax expense$(1,243)$(703)$(540)$(1,755)$(6,626)$4,871 

Income tax expense increased by $0.5 million and decreased by $4.9 million for the three and six months ended June 30, 2025, respectively, as compared to the corresponding periods in 2024, with the change driven primarily by an increase in net income from continuing operations and discrete items, including the sale of North American Fitness during the six months ended June 30, 2024.

Income (Loss) from Discontinued Operations, Net of Income Tax

 Three months ended June 30,ChangeSix months ended June 30,Change 20252024$20252024$ (dollars in thousands)Income (loss) from discontinued operations, net of income tax$2,392$(824)$3,216 $(6,255)$(1,138)$(5,117)

Income from discontinued operations, net of income tax was income of $2.4 million during the three months ended June 30, 2025 compared to a loss of $0.8 million during the three months ended June 30, 2024. Loss from discontinued operations increased $5.2 million during the six months ended June 30, 2025, as compared to the same period in 2024. Discontinued operations for all periods presented consists of the operating results of marketing technology solutions. The increase in income from discontinued operations in the three-month period was due primarily to the discontinuation of depreciation and amortization upon classification of assets as held for sale. The increase in loss from discontinued operations during the six-month period was due to an impairment charge of $9.0 million, comprised of a goodwill impairment charge of $6.9 million and a valuation allowance of $2.2