Company: EVCM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001853145-25-000047
Chunk: 56

Company: EverCommerce Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 56
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 30, 2025 and 2024, respectively, and $2.8 million and $2.2 million for the nine months ended September 30, 2025 and 2024, respectively. 

Note 6. GoodwillGoodwill activity consisted of the following for the nine months ended September 30, 2025 (in thousands):Balance at December 31, 2024$863,152 Acquired goodwill29,118 Effect of foreign currency exchange rate changes1,700 Balance at September 30, 2025$893,970 Accumulated impairment losses at September 30, 2025$(41,332)Goodwill totaling $16.3 million relating to marketing technology solutions was reclassified to assets held for sale as of September 30, 2025. The marketing technology solutions goodwill amount was included in the determination of the impairment charge recorded during the three and nine months ended September 30, 2025 to adjust the carrying amount of the disposal group’s assets to its estimated fair value less selling costs, which is included in accumulated impairment losses. Refer to Note 3. Discontinued Operations for additional information.

12

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

During the fourth quarter of 2024, in conjunction with our review of strategic alternatives for our marketing technology solutions, the Company evaluated the recoverability of our marketing technology reporting unit and determined that the estimated fair value was insufficient to recover the net carrying value of the reporting unit resulting in an impairment charge of approximately $28.1 million during the year ended December 31, 2024, which is included in accumulated impairment losses.In connection with the definitive sale and purchase agreements to sell our fitness solutions, we tested the goodwill balance for impairment as of March 31, 2024 (see Note 4. Acquisitions and Dispositions). During the nine months ended September 30, 2024, we 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.

Note 7. Intangible AssetsIntangible assets consisted of the following as of:September 30, 2025UsefulLifeGross CarryingValueAccumulatedAmortizationNet BookValue(in thousands)Customer relationships5-20 years$515,810 $358,995 $156,815 Develop