Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 42

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 42
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 Policies). As such, the assets and liabilities of the disposal group are classified as held for sale on our unaudited condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024. The results of operations of marketing technology solutions are presented as loss from discontinued operations, net of income tax in the unaudited condensed consolidated statements of operations and comprehensive loss. During the three months ended March 31, 

6

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

2025, we recognized an impairment charge of $9.4 million, comprised of a goodwill impairment charge of $6.9 million and a valuation allowance of $2.6 million to adjust the carrying value of the marketing technology disposal group to estimated fair value less cost to sell, which is included in loss on held for sale and impairments within discontinued operations on our unaudited condensed consolidated statements of operations and comprehensive loss.The following table summarizes the results of operations of marketing technology solutions reported as discontinued operations:Three months ended March 31,20252024(in thousands)Total revenues$28,632 $32,261 Operating expenses:Cost of revenues (exclusive of depreciation and amortization presented separately below)20,661 25,292 Sales and marketing2,702 2,204 Product development1,086 894 General and administrative2,283 2,149 Depreciation and amortization1,191 2,047 Loss on held for sale and impairments9,433 (11)Total operating expenses37,356 32,575 Operating loss(8,724)(314)Other income, net3 — Net loss before income tax benefit(8,721)(314)Income tax benefit74 — Loss from discontinued operations, net of income tax$(8,647)$(314)The components of assets and liabilities classified as held for sale on our condensed consolidated balance sheets were as follows:March 31,December 31,20252024(in thousands)Assets:Accounts receivable, net9,302 9,065 Contract assets462 474 Prepaid expenses and other current assets2,104 1,883 Property and equipment, net504 529 Capitalized software, net2,274 2,071 Other non-current assets3,399 3,359 Intangible assets, net14,670 15,668 Goodwill16,288 23,152