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EverCommerce Shares Soar 20% Following Q4 Results
Mar 16, 2023 9:50 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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EverCommerce Inc. (NASDAQ:EVCM) shares jumped nearly 20% on Thursday after the company released its Q4 earnings, with revenue of $161.8 million coming in better than the Street estimate of $157.9 million. EPS was ($0.09), compared to the Street estimate of $0.05.
The revenue beat was because the demand environment has started to normalize though still remains a headwind, particularly to the company's Marketing business. Subscription revenue growth along with management commentary suggests the overall health of the company's SMB customer base remains fine, particularly within EverPro and EverHealth, highlighting the mission-critical nature of Evercommerce's core business solutions.
Management expects Q1/23 revenue in the range of $157-$160 million, compared to the Street estimate of $160.4 million. For the full year, the company expects revenue in the range of $680-$700 million, compared to the Street estimate of $689.5 million.
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