Welcome. I appreciate everyone who's dialed in today to hear this webinar with EverCommerce. I'm thrilled we've got the CEO and founder with us, Eric Remer. Eric's a regular here. Thank you very much, Eric, for coming back. Not only is he a regular, he is one of the great entrepreneurs of our time. I feel very honored to have him for this discussion. Eric, maybe for the new people who are listening in today, take maybe to start the discussion and share with the audience from a 20,000 feet view a brief background on the company and the problems that EverCommerce are solving for your customers. Brian, thanks for having me. It's great to see you again and appreciate the opportunity to be here today. You know the story, but as kind of a little bit of a background, the focus and the core of everything we've done has always been focused on how do we simplify and empower the lives of these service-based small business owners. The predecessor organization to EverCommerce was, as you know, a company I started in 2006, called PaySimple. SaaS platform focused on helping service-based small businesses build, collect, manage, and ultimately grow their business. Really nice business, continued to scale. About eight plus years ago, what I realized was the needs of these service-based businesses were becoming more verticalized, even more micro-verticalized. If we had a thousand field service contractors, think about an electrician, a plumber, an HVAC, and we wanted 10,000, 50,000, or today we have over 300,000. We just didn't have the workflows. That could be dispatching, inventory management of the truck. Because PaySimple was a horizontal platform, you just couldn't be all things to all people. As I looked at the verticals that we were serving, what I saw was a bunch of fragmentation, a bunch of point solutions, and nobody was really bringing that all together. That's really what EverCommerce set out to do. Focus on three main core verticals, provide end-to-end SaaS solutions, and really that core system of action that these service-based small businesses need to run their business and be more successful. That's really what we are doing today, the leading provider of software and solutions to that service-based SaaS marketplace. Thank you very much for that opening. Let's get into the results. The first half for the business, this is a transformational year for the business, but your 2Q as well as your first half results, they look good. You exceeded your guidance in both quarters. Tell us what's working well for the business in 2025. Feel free to talk about what you're seeing in terms of your market segments or the geographies that you serve. What's working so well? Yeah, no, we feel really great about where we are right now. We feel great about the first half of the year, as you said, exceeded both, top end of guidance on both, you know, EBITDA as well as revenue. If you think about, you know, we've been talking now for, you know, three plus years, almost four years actually. About 18 months ago, we kicked off this transformation optimization kind of program within EverCommerce. It was really focused on two main things: transforming the way we serve our customers by providing more of our talent, more of our resources in the actual verticals closer to the customer. From an optimization standpoint, what do we need to do to be more efficient with that process to provide better services, better value to our customers, but also, you know, increase the value of our organization. Since we've, you know, over the last three and a half years, you know, since we went public, our EBITDA margins have grown from 20% to this quarter, over 30%. Over a thousand basis point improvement in our profitability as we've been transforming the organization really real time and really setting ourselves up for long-term sustainable success. Let's dive into a little bit of what the future could look like for the business here once you're through your business transformation. If successful with this strategy, what does a new and improved EverCommerce look like in the coming years? That's a great question. I actually think we are successful. I think the success we've had already is shown in our numbers and is shown in our operational efficiency and the things we're trying to accomplish. When we look at the world going forward, the transformation really focuses in on, we have three main verticals: EverPro, with its home field services; EverHealth, which is our health service; and EverWell, which is our kind of salon and spa. 95% of our business today is in that EverPro and EverHealth areas. We've really focused a ton of energy in that space. You think about what that looks like going forward. I brought on two new leaders, CEOs, really not GMs, like legitimate CEOs to run those organizations so they can build teams around them to be as focused as they need to be to provide the most value to the customer. Josh McCarter, who runs our EverPro division, comes back with running public companies. He was CEO of Mindbody. He's on the board of Compass. He's run several private equity-backed growth companies, doing a phenomenal job building out his core team of people fully focused on providing the most value within that vertical. Similar in the EverHealth group, Evan Berlin, who was with us as CEO of EverCommerce, took over as CEO of EverHealth and very similar, rebuilt that team fully focused on that end-to-end customer experience, which we could talk more about. What EverHealth is creating from an end-to-end experience is actually truly unique to the marketplace. The last thing I'll say, which every company probably talks about, that transformation of our organization also includes our ability to integrate every aspect of our business with AI. AI is something that people talk about today as something you're doing to transform your organization. In reality, a year from now, it just is. It's no longer a what are you doing. It just is part of every aspect of how we run our company and how we run our operations, how we provide value to our customers, and how we integrate AI into every product we have in the marketplace. Eric, I wanted to just follow up a little bit about the leadership and the bench that you've built around you. I think the strength of the bench may be one of the most underappreciated aspects of the business. I just wanted to ask you what, if anything, has surprised you about what these new leaders have done to contribute to the success of the business? It's a great question. Brian, you're closer to the story, so you kind of get it. There's been over 10 executives within EverPro and EverHealth added or replaced in the last really six to nine months. When you think about the impact that that is going to have on our organization over the next six to 12 months going forward, it's pretty monumental. We believe it's hard to model the value that new talent brings to the table. When you think about building specific teams, senior specific teams focused on the success of each of those verticals, which didn't exist before. Remember, we were a centralized platform, kind of peanut butter spreading all of our talent across the ecosystem. Now, each of these great leaders I just touched upon, Evan and Josh, have their own dedicated teams, CTOs, CROs, head of marketing, head of sales, specifically focused on their vertical. What we think we're already seeing, and we think it's going to happen in the future, is better efficiencies on go-to-market, better sales execution, more focused marketing spend. While we've invested a lot of dollars in this senior management, over that same period, we've increased our EBITDA margins by almost 250 basis points. Utilizing that optimization part of our business to be more cost-effective across the organization so we can reinvest that into great talent that's going to drive us forward. Our focus is how do we re-accelerate growth to the levels we want to be at while continuing to expand our margin, you know, where it is today. We went public four years ago. People asked, what is the mid to long-term EBITDA goals of the company? We said, look, we think within the mid to long term, we could be in between 25% and 30% EBITDA margins. This quarter, we exceeded 30%, and we think there's plenty of room to grow from that point going forward. We feel really good about where we are today from an infrastructure profitability standpoint and now the opportunity for us to bring the talent integrated throughout the organization so we can reinvest those dollars to re-accelerate growth. Sounds good. Sounds like there's a clear path here to a rule of 40 business over the next. I mean, we're almost there as we sit here today. We're really darn close, and we're in the early innings of where we're going to be. We're literally a point or two away from a rule of 40 company. Yeah. Let's talk a little bit about the moat. You know, you've got ServiceTitan that's competing in your market. They've been doing very well recently. You've got payment suppliers like Bill. You know, what gives EverCommerce the right to win in the markets that you compete in? Our focus has always been first and foremost to provide that software that we call the system of action software to these service-based small businesses that help them be more successful, and then utilize that as the entry point to provide more additional services, payments, marketing technologies, customer engagement solutions that really create that full moat around that customer. When you think about, at the end of the day, no matter what organization you are, what allows you to win is providing the best software. We provide most of our software because it's down market, is in a PLG motion. Really good software, really easy to use, really cost-effective, really easy to onboard. You bring up companies like ServiceTitan, who's doing an amazing job, and we know them well and really great company. They're in an amazing vertical. Our EverPro division is our largest area of our organization, and we think that is just a massive runway to continue to grow it. The biggest contrast between what we're doing and what ServiceTitan is doing, although we're focused on the same vertical, we're focused more on that down market, really expansive marketplace. As a point of reference, they have, I think they announced, just under 10,000 customers in that space. We have over 350,000 contractors utilizing our solutions. Much more enterprise focused, we're much more down market in terms of the solutions we're providing. We think there's a massive, massive, not only domestic but global marketplace within that vertical. At the end of the day, providing great solutions, great products, easy to use. In EverHealth, we didn't really touch upon it, but our differentiator in EverHealth is pretty strong. We are really the only kind of solution for small practices out there that provides a native integrated end-to-end solution from practice management to EMR to patient pay to claims processing and the patient engagement, all under one EverHealth ecosystem. That provides a seamless experience for our customers who are utilizing our solution. It's really exciting. We are literally at the early stages of launching that full EverHealth end-to-end brand, and it is a true differentiator in the marketplace. As I think you mentioned, you do have one of the most comprehensive platforms in the markets that you're competing in today. I wanted to touch upon a little bit about the cross-selling initiatives. You also highlighted you have one of the largest customer bases in the market segments that you're competing in. I've followed the company for a while, so I do know there's a long runway for product penetration within the install base. Share with us some of the initiatives going on to improve the product penetration, raise customer values, and maybe you can talk a little bit about how payments is the tip of the spear for the cross-selling initiatives. Yeah, that's a great question. I think it gets underappreciated, the amount of customers, payment opportunity, and runway we have in front of us. We have over 700,000, really over 720,000 customers utilizing our platform. The first step in getting customers on that cross-sell process is getting them integrated into one of our solutions so they can take it. We currently have over 260,000 customers that are ready to take more than one solution, which means they've signed up for a payment solution, a marketing service solution, or customer engagement. The vast majority of those 260,000 customers that are utilizing more than one solution, it's really on the payment side. The next step in the funnel is really utilization. The first step is getting them attached. We call it the attach process, getting them attached to payments or other solutions, primarily payments, and then really working and really focused on down funnel to make sure that these attached customers that are utilizing a software and now also a potential integrated payments, how do we get them to utilize it? How do we get them to take that first transaction? How do we get them to process all their customers on an ongoing basis? We announced just under $13 billion of TPV that we're processing right now. That is a small, small fraction of the marketplace we have to go after, probably in the 10% range of we think the go-get that we have within the payment opportunity. It's something that we focus on on a daily basis. Again, attach them up front, which we've started to do a really good job on the go-to-market, integrating our payment attachment with our SaaS sales process, which is why we've been growing so well in that attach phase. That next stage of utilization, it's like every other funnel that exists in every organization. It's just testing, providing more value, integrating them more effectively to get more of those customers utilizing the solution, which gives us more wallet share of that go-get that we think we can go get over time. Very good. We talked about the back to the base motion with the install base. Let's talk a little bit about new customer acquisition and new logos. Can you talk about, describe the product-led growth initiatives that are happening inside the company to improve the lead generation and the conversions? How far along is the business in the optimization process of the PLG motion? No, it's a great question. We've been fortunate that the vast majority of our customers come through PLG motion. 80% of new customers are actually coming through that PLG motion. Our focus has always been, if you're going to be focused on PLG, you have to be really good at your go-to-market, your digital marketing, bringing people to your front door. It's equally, if not more important, on that PLG motion to have really easy-to-use products, really easy-to-use onboarding, really easy and intuitive to get going and be able to utilize that product from the time you see it to the time you buy it. A lot of resources. We talked about the transformation. One of the main reasons we actually did that was if you think about a centralized organization that's focused on multi-verticals, let's say you had a senior tech executive focus his energy or her energy across the entire ecosystem. Now we have Head of Products, Head of Technology, Head of Revenue Generation, Head of Sales, Head of Marketing that are specifically just focused within the verticals they're going after. That provides us more opportunity to provide more value, more focus, more resources to each of our individual customers within each of the end verticals that we serve. Great. Let's dive into a couple of your business segments. Let's start first with EverPro. Why is this market so underpenetrated? What are you seeing in terms of demand trends within the EverPro business? If you think about just the end market, we've been focused on this market for many years. Plumbers, electricians, HVAC, landscapers, anyone who's on the truck—in general, these aren't the most tech-forward organizations, especially as you go down market. The reason why the market is so big, number one, these businesses are thriving. These are successful entrepreneurial small businesses that are thriving in their communities. Go back to the COVID year, that home service division—your HVAC guys, your landscapers, your plumbers, your electricians—they didn't take a breath. They might have slowed down in April of 2020. By May of 2020, they were out there in your houses serving you and providing you value. It is so critical to our entire ecosystem in each of our communities. These businesses serve us on a daily basis, and there are a lot of them, and they're providing tons of value. When you think about our focus, how do we serve those customers that serve us every single day? How do we provide them more value so they can be more successful? If you look down market, you look at a ServiceTitan who's providing really great software for enterprise clients, and they clearly knew they need that kind of need. Down market, where there's literally millions of these customers, a lot of them have been kind of still old school. They answer the phone, they leave a little piece of paper at your front door. We all get those pieces of paper still, and you have to write a check. If they want to compete, and they're recognizing the value in having this integrated solution, it not only makes them look more professional, it's not only a better customer experience. They get paid quicker. They integrate their payments and their service and their project management all within one system on a really easy-to-use down market platform. It is just the natural evolution of this market that for years, Brian, and still today, inertia is our biggest competitor down market. There are several other organizations providing a lot of value, but the market is still very greenfield and still a lot of opportunity to go get new customers. Sounds good. Let's switch to EverHealth. Yes. I think you did a good job laying out the moat and the differentiation in terms of EverHealth. What are you most excited about in terms of the EverHealth business and the future? Yeah, I think the three main things, it starts with the transformation process with Evan now in charge and built out an amazing team focused specifically on EverHealth. We're going to start seeing that value, which we're already seeing in the sales execution, go even further. It goes to the integrated product offering, which we've been working on for several years. In 2026, we're going to be launching a full end-to-end EverHealth branded product, which just is going to provide more value to our customers. The last piece is how AI is going to really make the lives of our customers better. From integrated note-taking in the doctor's office to prescription fills to RCM reimbursement at a higher level, all of those kind of solutions that we are integrating into our products are going to provide, again, more value, more integration, and allow our customers to be more successful. Sounds good. How do you, as a leader, you've got these two strong business segments. You've got your EverPro, you've got your EverHealth business. Maybe two questions along the line. How do you decide where to lean in in terms of your investment, your growth investments between these two businesses? In terms of inorganic, that would be certainly the organic investments. From an inorganic perspective, which seems like more interesting from an M&A perspective, the EverPro or the EverHealth divisions? We just saw you recently and it would have been asking you which kid you like better, right? We love both our kids and the reality is they're both great businesses. We've made a conscious effort as a Board, as a management team, as an organization to make pretty significant investments in both of those verticals. We think they both have really long runways, really big opportunities to grow. I think our focus to continue to invest in those so we can maximize the potential in those areas is where you're going to see EverCommerce putting most of its energy over the next 6, 12, 24 months going forward. In terms of M&A and inorganic growth, we are always looking for opportunities to increase the value of our offerings. Whether that's in product, whether that's in customers, whether that's in more value we can provide to our customers, to our product offering, we are looking at opportunities literally on a weekly, monthly basis and trying to find those things that we think are going to be able to be best integrated into our solution, fill a product gap, or fill something that our customers want. We'll continue to talk about those as they come to fruition, both in EverPro and in EverHealth. We think there's opportunities to accelerate some of the things we're doing for a product, from an AI, from a customer standpoint within each of those verticals. If we find an opportunity and we feel the value is the right value in terms of what we need to pay to create that within our ecosystem, we'll definitely pursue it. I mean, we just discussed our leverage is down to two times. We have over $150 million on our balance sheet from a cash perspective. We're really well positioned from a capitalization and a balance sheet perspective to be able to do things and accelerate growth utilizing M&A if and when we see that opportunity. Eric, I want to thank you very much for your time. I think this is going to be one of my top ideas over the next 12 months in 2026. I got to keep you on schedule here because he's got meetings later today. It was great to see you again, and thank you for sharing an update on EverCommerce. I appreciate, Brian, you having me. Thank you for all your support over the years. I look forward to continuing the conversation.