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Evercommerce EverCommerce Announces Financial Results for Third Quarter Fiscal Year 2021 November 8 , 2021 DENVER , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) -- EverCommerce Inc. ( NASDAQ : EVCM ) , a leading service commerce platform , today announced financial results for the third quarter ended September 30 , 2021 . " EverCommerce's third quarter results were highlighted by 44 % revenue growth and adjusted EBITDA margins that exceeded 20 % . Our strong results are driven by the value we bring to our SMB services providers as they continue to digitize their businesses . Following our strong quarter , we also recently announced our acquisition of DrChrono , which expands our presence in the health services vertical with another robust system of action , " said Eric Remer , EverCommerce's Founder and CEO . Third Quarter 2021 Financial Highlights • Revenue for the third quarter of 2021 was $ 128.5 million , an increase of 44 % compared to $ 89.2 million for the third quarter of 2020 . • Pro forma revenue growth rate was 20 % year - over - year in Q3 2021 and 21 % year - over - year for the first nine months . • Net loss was $ 36.9 million , or $ ( 0.20 ) per diluted share , for the third quarter of 2021. This compares to a net loss of $ 5.4 million , or $ ( 0.46 ) per diluted share , for the third quarter of 2020 . • Adjusted EBITDA was $ 29.0 million for the third quarter of 2021 , compared to Adjusted EBITDA of $ 29.1 million for the third quarter of 2020 . • Cash flow provided by operations was $ 13.7 million for the nine months ended September 30 , 2021 compared to cash flow provided by operations of $ 32.1 million for the nine months ended September 30 , 2020 . • Cash , cash equivalents and restricted cash was $ 98.3 million as of September 30 , 2021 compared to $ 98.3 million at December 31 , 2020. Total debt was $ 385.1 million at September 30 , 2021 , implying net leverage of 2.2x using Credit Agreement Defined Adjusted EBITDA . A reconciliation of GAAP to Non - GAAP measures has been provided in the financial statement tables included at the end of this press release . An explanation of these measures is also included below under the heading " Non - GAAP Financial Measures . " Other Third Quarter and Recent Highlights • Announced the acquisition of DrChrono , a leading provider of mobile - first , cloud - based electronic health record ( EHR ) , practice management , medical billing , and revenue cycle management solutions . Based in Sunnyvale , California , DrChrono develops the essential platforms and services for modern medical practices to make healthcare more informed , more interactive , and more personalized , and adds an important system of action to our EverHealth suite of solutions . • Announced the launch of EverConnect , a performance marketing and lead generation platform . EverConnect consolidates three industry - leading lead generation products to create a one - stop shop for marketers and service professionals to connect with consumers . • Announced ASF Payment Solutions and Club OS , two solutions of the EverWell solutions group , were selected by World Gym International as their designated software solutions . Business Outlook Based on information as of today , November 8 , 2021 , the Company is increasing its outlook for revenue for the fourth quarter and full year 2021 and is issuing the following financial guidance . Please note that the Q4 and full year 2021 outlook includes contributions from our recently announced acquisitions . Fourth Quarter Fiscal 2021 : • Revenue is expected to be in the range of $ 129.5 million to $ 131 million . ● Adjusted EBITDA is expected to be in the range of $ 27 million to $ 28 million . Full Year 2021 : • Revenue is expected to be in the range of $ 484.0 million to $ 485.5 million . ● Adjusted EBITDA is expected to be in the range of $ 105.0 million to $ 106.0 million . A reconciliation of Adjusted EBITDA to net income , the most directly comparable GAAP measure , is not available without unreasonable efforts on a forward - looking basis due to the high variability , complexity and low visibility with respect to certain charges excluded from this non - GAAP measure ; in particular , the measures and efforts of stock - based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price . It is important to note that these charges could be material to EverCommerce's results computed in accordance with GAAP .