EverCommerce (EVCM) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached $151.2 million, up 5.2% year-over-year and above guidance midpoint, with adjusted EBITDA of $44.2 million at a 29.2% margin, exceeding guidance.

• Achieved or exceeded 2025 financial targets, driven by organizational transformation and an AI-first strategy across all business verticals.

• Sold the Marketing Technology Solutions business and acquired ZyraTalk to accelerate AI initiatives and included ZyraTalk in pro forma metrics.

• Repurchased 2.5 million shares for $24.8 million in Q4, with $47.7 million remaining under authorization, and reduced net leverage to 2.2x.

• Embedded AI features are driving workflow automation and efficiency for over 745,000 customers, primarily in EverPro and EverHealth.

Financial highlights

• Full-year 2025 revenue was $588.9 million, up from $562.2 million in 2024; Q4 2025 revenue was $151.2 million, up 5.2% year-over-year.

• Adjusted EBITDA for Q4 2025 was $44.2 million (29.2% margin), and for the full year was $180.5 million (30.7% margin).

• Cash flow from operations for 2025 was $111.5 million; levered free cash flow was $79.6 million.

• Ended Q4 with $130 million in cash, $155 million undrawn revolver, and $527 million debt outstanding.

• Payments revenue for top six solutions grew 5.9% year-over-year, supported by 17.4% TPV growth, now 36% of total TPV.

Outlook and guidance

• Q1 2026 revenue guidance: $145.5–$148.5 million; Adjusted EBITDA: $39–$41 million.

• Full year 2026 revenue guidance: $612–$632 million; Adjusted EBITDA: $183–$191 million.

• Expect stronger growth in Q2 and Q3 due to seasonality and continued investment in AI and payments.

• Anticipate less seasonal variability in cash flow post-MarTech divestiture.