EverCommerce evaluates strategic options for its Marketing Technology solutions, focusing on core vertical SaaS offerings for growth.
Quiver AI Summary
EverCommerce Inc. has announced that it is exploring strategic alternatives for its Marketing Technology solutions, which are designed to assist service-based small businesses in promoting their offerings and acquiring customers. Chairman and CEO Eric Remer emphasized the need to focus the company’s resources on its core vertical SaaS software and embedded payment solutions to enhance long-term growth and shareholder value. Tim Gill, Head of the Marketing Technology business, acknowledged the strong reputation of their current offerings and the opportunity to provide ongoing value to existing clients. The company began this review process in late 2024 and anticipates a sale in 2025. Financial forecasts for 2025 will exclude the Marketing Technology segment, and EverCommerce plans no further public comments on the matter until the review is complete or disclosures necessary.
Potential Positives
- The company is strategically evaluating alternatives for its Marketing Technology solutions, indicating a focus on optimizing its product offerings.
- This shift allows EverCommerce to concentrate resources on its core vertical SaaS software and embedded payments, which may lead to enhanced growth and profitability.
- The well-regarded status of its Marketing Technology solutions suggests potential value in a sale, which could generate capital for further investment in primary business areas.
Potential Negatives
- The company's decision to evaluate strategic alternatives for its Marketing Technology solutions may signal challenges or underperformance in that segment, which could concern investors about its overall business health.
- Management's financial guidance will exclude Marketing Technology, potentially indicating a significant impact on overall revenue projections and creating uncertainty for stakeholders.
- The involvement of outside financial advisors for the review suggests a critical situation that may require external expertise, raising questions about the company's internal capabilities to manage this segment effectively.
FAQ
What is EverCommerce planning for its Marketing Technology solutions?
EverCommerce is evaluating strategic alternatives, including a potential sale of its Marketing Technology solutions.
Why is EverCommerce focusing on vertical SaaS software?
The company believes that concentrating on vertical SaaS software will maximize long-term growth and enhance shareholder value.
When does EverCommerce expect to sell its Marketing Technology solutions?
The company anticipates that a sale will occur in 2025 following a review process that began in late 2024.
What financial information will EverCommerce provide in March 2025?
Financial guidance provided on March 13, 2025, will exclude Marketing Technology from its earnings projections.
Who can I contact for more information about EverCommerce?
For investor inquiries, contact Brad Korch at ir@evercommerce.com. For press inquiries, reach Jeanne Trogan at press@evercommerce.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EVCM Insider Trading Activity
$EVCM insiders have traded $EVCM stock on the open market 65 times in the past 6 months. Of those trades, 0 have been purchases and 65 have been sales.
Here’s a breakdown of recent trading of $EVCM stock by insiders over the last 6 months:
- ERIC RICHARD REMER (Chief Executive Officer) has made 0 purchases and 56 sales selling 432,033 shares for an estimated $4,663,099.
- MATTHEW DAVID FEIERSTEIN (President) has made 0 purchases and 8 sales selling 75,200 shares for an estimated $823,094.
- LISA E STOREY (Chief Legal Officer) sold 9,232 shares for an estimated $102,577
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EVCM Hedge Fund Activity
We have seen 46 institutional investors add shares of $EVCM stock to their portfolio, and 38 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JANUS HENDERSON GROUP PLC added 110,183 shares (+34.6%) to their portfolio in Q4 2024, for an estimated $1,213,114
- WOODLINE PARTNERS LP added 106,359 shares (+24.8%) to their portfolio in Q4 2024, for an estimated $1,171,012
- DIMENSIONAL FUND ADVISORS LP removed 100,997 shares (-25.4%) from their portfolio in Q4 2024, for an estimated $1,111,976
- BANK OF NEW YORK MELLON CORP removed 92,521 shares (-63.7%) from their portfolio in Q4 2024, for an estimated $1,018,656
- HRT FINANCIAL LP removed 68,656 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $755,902
- UBS GROUP AG added 66,141 shares (+655.9%) to their portfolio in Q4 2024, for an estimated $728,212
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 61,144 shares (+84.7%) to their portfolio in Q4 2024, for an estimated $673,195
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DENVER, March 11, 2025 (GLOBE NEWSWIRE) --
EverCommerce Inc
. (NASDAQ: EVCM) (“EverCommerce” or the “Company”), a leading provider of SaaS solutions for service SMBs, announced today that it is evaluating strategic alternatives for its Marketing Technology set of solutions.
“Our Marketing Technology solutions are valuable products to our customers, fueled by the fact that service-based small businesses need various digital channels to promote their businesses and acquire customers,” said Chairman and CEO Eric Remer. “What has become clearer to us as we’ve been on our transformation and optimization journey, however, is that our primary focus, energy and investments need to be on providing best in class vertical SaaS software with embedded payments. We believe that focusing on these areas will allow us to maximize long-term growth, margin accretion and ultimately shareholder value.”
“Our Marketing Technology solutions are well-regarded in the industry, providing robust lead generation and digital agency capabilities to our customers,” said Tim Gill, Head of Marketing Technology business. “We have a tremendous opportunity to continue to provide exceptional value and service to service-based small businesses, including our existing EverCommerce customers, while investing in and growing the business with a more targeted focus.”
The Company began a process in late 2024 and expects a sale to occur in 2025. Accordingly, management’s financial guidance provided in conjunction with the Company’s fourth quarter 2024 earnings scheduled for March 13, 2025 will not include Marketing Technology. EverCommerce does not intend to make any further public comment regarding the review of strategic alternatives for the Marketing Technology solutions until it has been completed or the Company determines that a disclosure is required by law or otherwise deemed appropriate.
EverCommerce has retained outside financial advisors to assist in the review.
About EverCommerce
EverCommerce (Nasdaq: EVCM) is a leading service commerce platform, providing vertically-tailored, integrated SaaS solutions that help more than 690,000 global service-based businesses accelerate growth, streamline operations, and increase retention. Its modern digital and mobile applications create predictable, informed, and convenient experiences between customers and their service professionals. With its EverPro, EverHealth, and EverWell brands specializing in Home, Health, and Wellness service industries, EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications. Learn more at EverCommerce.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding a potential strategic transaction involving the Company's Marketing Technology solutions, including anticipated timelines, the Company's strategy, future operations and future financial results. There can be no assurance that this process will result in a sale of the Marketing Technology solutions or any other outcome. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, our ability to consummate a transaction of the Marketing Technology set of solutions, diversion of management's attention in connection with the strategic review and any resulting transaction, our limited operating history and evolving business; our recent growth rates may not be sustainable or indicative of future growth; as well as the other factors described in our Annual Report on Form 10-K for the year ended December 31, 2023 and updated by our other filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 once filed. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
Investor Contact:
Brad Korch
SVP and Head of Investor Relations
720-796-7664
ir@evercommerce.com
Press Contact:
Jeanne Trogan
VP of Corporate Communications
737-465-2897
press@evercommerce.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
