Company: EVCM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001853145-25-000037
Chunk: 50

Company: EverCommerce Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 50
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 operations that are included in the accompanying statements of cash flows:Three months ended June 30,Six months ended June 30,2025202420252024(in thousands)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization$— $2,037 $1,191 $4,084 Share-based compensation200 207 382 373 (Gain) loss on assets held for sale and impairments(412)— 9,021 (11)

Note 4. Fitness Solutions DispositionOn March 13, 2024, the Company entered into definitive sale and purchase agreements to sell its fitness solutions to Jonas Fitness Portfolio Holdco Inc. (“Jonas Software”). The sale of American Service Finance LLC., ASF Payment Solutions ULC and Technique Fitness Inc. (collectively, “North American Fitness”), closed simultaneously with signing. The sale of EverCommerce UK, including wholly-owned subsidiaries Fitii UK (MyPTHub and MyPTHub LLC) and ClubWise UK and its wholly-owned subsidiary ClubWise Australia (collectively, “UK Fitness” and together with North American Fitness, “Fitness Solutions”), closed July 1, 2024. The divestiture did not qualify for discontinued operations. As a result, our unaudited condensed consolidated financial statements include the results of North American Fitness and UK Fitness for all periods through the applicable date of sale. During the three and six months ended June 30, 2024, the Company recognized losses of $0.2 million and $5.0 million, respectively, related to the sale of Fitness Solutions, which are included in loss on held for sale and impairments on our unaudited condensed consolidated statements of operations and comprehensive loss. Additionally, the Company recognized a $6.4 million goodwill impairment charge representing the allocated goodwill to Fitness Solutions, which is included in loss on held for sale and impairments on the unaudited condensed consolidated statements of operations and comprehensive loss. During the three and six months ended June 30, 2024, we measured the assets and liabilities held for sale at fair value less cost to sell and recognized losses of $0.3 million and $2.9 million, respectively, which are included in loss on held for sale and impairments on our unaudited condensed consolidated statements of operations and comprehensive loss. The loss during the three months ended June 30, 2024 was primarily due to an increase in our accrual