Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 43

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 43
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Total assets49,003 56,201 Valuation allowance(2,568)— Assets held for sale$46,435 $56,201 Liabilities:Accounts payable$978 $1,442 Accrued expenses and other9,187 7,659 Deferred revenue4,592 3,009 Customer deposits261 2,188 Other long-term liabilities608 973 Liabilities held for sale15,626 15,271 Assets held for sale, net$30,809 $40,930 

7

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

The amount identified as valuation allowance in the above table is the amount necessary to reduce the carrying value of the marketing technology disposal group to estimated fair value less cost to sell as required by applicable accounting standards for discontinued operations measurement.The following table presents the significant non-cash items related to discontinued operations that are included in the accompanying statements of cash flows:Three months ended March 31,20252024(in thousands)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization$1,191 $2,047 Share-based compensation182 166 Loss on assets held for sale and impairments9,433 (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 months ended March 31, 2024, the Company recognized a loss of $4.8 million, related to the sale of Fitness Solutions, which is included in loss on held for sale and impairments on our unaudited condensed consolidated statements of operations and comprehensive loss