Company: EVCM
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001853145-25-000037
Chunk: 80

Company: EverCommerce Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 80
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 losses at June 30, 2025$(41,332)Goodwill totaling $16.3 million relating to marketing technology solutions was reclassified to assets held for sale as of June 30, 2025. The marketing technology solutions goodwill amount was included in the determination of the impairment charge recorded during the three and six months ended June 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.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. Fitness Solutions Disposition). During the six months ended June 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:June 30, 2025UsefulLifeGross CarryingValueAccumulatedAmortizationNet BookValue(in thousands)Customer relationships5-20 years$511,583 $348,495 $163,088 Developed technology5-12 years93,899 80,559 13,340 Trade name3-10 years33,894 26,283 7,611 Non-compete agreements5 years1,940 1,935 5 Total$641,316 $457,272 $184,044 

11

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