Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 47

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 47
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angible assets consisted of the following as of:March 31, 2025UsefulLifeGross CarryingValueAccumulatedAmortizationNet BookValue(in thousands)Customer relationships5-20 years$511,381 $337,701 $173,680 Developed technology5-12 years93,856 78,553 15,303 Trade name3-10 years33,882 25,394 8,488 Non-compete agreements5 years1,937 1,931 6 Total$641,056 $443,579 $197,477 

10

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

December 31, 2024UsefulLifeGross CarryingValueAccumulatedAmortizationNet BookValue(in thousands)Customer relationships5-20 years$511,374 $327,038 $184,336 Developed technology5-12 years93,855 76,430 17,425 Trade name3-10 years33,881 24,477 9,404 Non-compete agreements5 years1,936 1,929 7 Total$641,046 $429,874 $211,172 

Amortization expense was $13.7 million and $17.5 million for the three months ended March 31, 2025 and 2024, respectively.  

Note 8. Property and EquipmentProperty and equipment consisted of the following as of:March 31,December 31,20252024(in thousands)Computer equipment and software$10,265 $9,873 Furniture and fixtures3,059 3,058 Leasehold improvements9,988 9,988 Total property and equipment23,312 22,919 Less accumulated depreciation(17,405)(16,790)Property and equipment, net$5,907 $6,129 Depreciation expense was $0.7 million and $1.0 million for the three months ended March 31, 2025 and 2024, respectively.

Note 9. Capitalized SoftwareCapitalized software consisted of the following as of:March 31,December 31,20252024(in thousands)Capitalized software$72,476 $68,057 Less: accumulated amortization(28,903)(26,462)Capitalized software, net$43,573 $41