Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 17

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 17
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 Three months ended March 31, 20252024 (in thousands)Net cash provided by operating activities$30,678 $13,297 Net cash used in investing activities(5,643)(3,606)Net cash used in financing activities(12,267)(12,371)Effect of foreign currency exchange rate changes on cash(142)(593)Net increase (decrease) in cash, cash equivalents and restricted cash$12,626 $(3,273)

Cash Flow from Operating Activities

Net cash provided by operating activities was $30.7 million for the three months ended March 31, 2025, compared to $13.3 million for the three months ended March 31, 2024. Changes in net cash provided by operating activities resulted primarily from cash received from net sales within our subscription and transaction fees and marketing technology solutions. Other drivers of the changes in net cash provided by operating activities include payments for personnel expenses for our employees, costs related to delivering our services and products, partner commissions, advertising and interest on our long-term debt.

The increase in cash provided by operating activities for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was primarily due to lower costs as a result of our transformation and optimization initiatives comprised of a reduction in general overhead expenses, including personnel expenses, to support our business of $6.8 million, lower costs directly related to the delivery of our services and products of $6.1 million, lower interest payments of $2.0 million, higher cash collections from our subscription and transaction fees, which includes revenues from payment processing, of approximately $3.0 million and higher interest income of $0.4 million. These increases were partially offset by higher taxes of $0.9 million.

Cash Flow from Investing Activities

During the three months ended March 31, 2025, net cash used in investing activities of $5.6 million related primarily to costs to develop software of $5.1 million and $0.5 million for purchases of property and equipment.

During the three months ended March 31, 2024, net cash used in investing activities of $3.6 million was related primarily to costs to develop software of $4.4 million and $0.4 million for purchases of property and equipment, partially offset by proceeds from the sale of North American Fitness, net of transaction costs, cash and restricted cash sold for approximately $1.2 million.