Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 67

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 67
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 $3,128 Over time139,665 134,724 Total$142,273 $137,852 By geographical market:United States$127,130 $118,861 International15,143 18,991 Total$142,273 $137,852 

8

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

Contract Balances Supplemental balance sheet information related to contracts from customers as of:March 31,December 31,20252024(in thousands)Accounts receivable, net$32,356 $31,090 Contract assets$11,115 $12,839 Deferred revenue$22,122 $22,107 Customer deposits$11,857 $11,382 Long-term deferred revenue$423 $512 Accounts receivable, net: Accounts receivable, net of allowance for expected credit losses, represent rights to consideration in exchange for products or services that have been transferred by us, when payment is unconditional and only the passage of time is required before payment is due. Contract assets: Contract assets represent rights to consideration in exchange for products or services that have been transferred (i.e., the performance obligation or portion of the performance obligation has been satisfied), but payment is conditional on something other than the passage of time. These amounts typically relate to contracts with the suppliers within our group purchasing programs for which payment is received at least one quarter in arrears from the service period. They also relate to contracts that include on-premise licenses and professional services where the right to payment is not present until completion of the contract or achievement of specified milestones and the fair value of products or services transferred exceed this constraint.Contract liabilities: Contract liabilities, or deferred revenue, represent our obligation to transfer products or services to a customer for which consideration has been received in advance of the satisfaction of performance obligations. Long-term deferred revenue is included within other non-current liabilities on the unaudited condensed consolidated balance sheets. Revenue recognized from the contract liability balance at December 31, 2024 was $16.3 million for the three months ended March 31, 2025. Customer deposits: Customer deposits relate to payments received in advance for contracts, which allow the customer to terminate a contract and receive a pro rata refund for the unused portion of payments received to date.Accounts ReceivableActivity in our allowance for expected credit losses is as follows as of:March 31,20242023(in thousands)Allowance for expected credit