Company: EVCM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001853145-25-000047
Chunk: 19

Company: EverCommerce Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 19
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9.6%, for the three and nine months ended September 30, 2025, respectively, as compared to the same periods in 2024, with the changes primarily driven by volatility of interest rates and foreign currency. The decrease for the three-month period was driven primarily by a decrease in unrealized loss on interest rate swaps of $8.1 million and a $2.1 million decrease in interest expense, partially offset by a $0.6 million unfavorable change in unrealized foreign currency gain (loss). The decrease for the nine-month period was driven primarily by a $5.7 million decrease in interest expense, a $0.7 million increase in interest income and a $0.5 million increase in unrealized foreign currency gain, partially offset by an increase in unrealized loss on interest rate swaps of $3.8 million. The decline in interest expense in both the three and nine-month periods is a result of lower variable base interest rates on the Company’s Credit Facilities (as defined below), the amendment to the Term Loan (as defined below) in the fourth quarter 2024 and third quarter 2025 resulting in a reduction 

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in margin and the removal of the credit spread adjustment, and the swap executed in the third quarter 2024 to covert $125.0 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).

Income Tax Expense

 Three months ended September 30,ChangeNine months ended September 30,Change 20252024$20252024$ (dollars in thousands)Income tax expense$(1,247)$(938)$(309)$(3,002)$(7,564)$4,562

Income tax expense increased by $0.3 million and decreased by $4.6 million for the three and nine months ended September 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 before tax and discrete items, including the sale of Fitness Solutions during the nine months ended September 30, 2024.

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

 Three months ended September 30,ChangeNine months ended September 30,Change 20252024$20252024$ (dollars in thousands)Income (loss) from discontinued operations, net of income tax$5,312