Company: EVCM
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001853145-25-000009
Chunk: 160

Company: EverCommerce Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 160
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765 Trade names (1)3-10 years38,627 24,293 14,334 Non-compete agreements2-5 years2,408 2,338 70 Total$753,425 $437,906 $315,519 (1)During the quarter ended December 31, 2023, we recognized an impairment charge including $2.7 million of customer relationships, $0.3 million of developed technology and $0.1 million of trade names included in impairment expense on the consolidated statements of operations and comprehensive loss (see Note 2. Summary of Significant Accounting Policies).Amortization expense was $74.9 million, $91.2 million and $101.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.The weighted average remaining useful life of intangible assets acquired is 7.2 years, 8.6 years and 9.6 years for the years ended December 31, 2024, 2023 and 2022, respectively.In determining the useful life for each category of intangible asset, the Company considered the following: the expected use of the intangible, the longevity of the brand and considerations for obsolescence, demand, competition and other economic factors.Amortization expense for the Company’s intangible assets are as follows (in thousands):Year Ended December 31,2024$59,206 202546,094 202635,372 202728,082 202819,651 Thereafter38,435 Total amortization expense for the Company’s intangible assets$226,840 

Note 7. Property and EquipmentProperty and equipment consisted of the following as of:December 31,20242023(in thousands)Computer equipment and software$12,002 $11,628 Furniture and fixtures3,332 3,794 Leasehold improvements10,565 11,756 Total property and equipment25,899 27,178 Less accumulated depreciation(19,241)(17,444)Property and equipment, net$6,658 $9,734 Depreciation expense was $3.6 million, $4.6 million and $4.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. During the three months ended December 31, 2023, we recorded an impairment charge of