Company: EVCM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001853145-25-000037
Chunk: 91

Company: EverCommerce Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 91
---
June 30, 2025Balance Sheet ClassificationLevel 1Level 2Level 3Total(in thousands)Assets:Money market$1,681 $— $— $1,681 Cash equivalentsInterest rate swaps— 165 — 165 Other non-current assetsLiability:Interest rate swaps$— $4,676 $— $4,676 Other non-current liabilitiesDecember 31, 2024Balance Sheet ClassificationLevel 1Level 2Level 3Total(in thousands)Asset:Money market$9,324 $— $— $9,324 Cash equivalentsInterest rate swaps— 2,443 — 2,443 Other non-current assetsLiability:Interest rate swap$— $947 $— $947 Other non-current liabilities

Note 16. Income Taxes Our provision for income taxes in interim periods is based on our estimated annual effective tax rate plus the impact, if any, of discrete items recognized in the interim period. We record cumulative adjustments in the quarter in which a change in the estimated annual effective rate is determined.The income tax expense was $1.2 million and $0.7 million for the three months ended June 30, 2025 and 2024, respectively, and $1.8 million and $6.6 million for the six months ended June 30, 2025 and 2024, respectively. The difference in income tax expense for the three and six months ended June 30, 2025 as compared to the corresponding periods in 2024 was driven primarily by an increase in net income from continuing operations and discrete items before tax, including the sale of North American Fitness during the six months ended June 30, 2024. On July 4, 2025, President Trump signed H.R. 1, the “One Big Beautiful Bill Act,” into law. The legislation includes several changes to federal tax law that generally allow for more favorable deductibility of certain business expenses beginning in 2025, including the restoration of immediate expensing of domestic R&D expenditures, reinstatement of 100% bonus depreciation, and more favorable rules for determining the limitation on business interest expense. The act also includes certain changes to the US taxation of foreign activity, including changes to foreign tax credits, global intangible low-taxed income, foreign-derived intangible income, and base erosion and anti-abuse tax, amongst other changes. These changes are generally effective for tax years