EverCommerce at Global Technology Conference: Strategic Growth Focus

On Tuesday, 18 November 2025, EverCommerce (NASDAQ:EVCM) presented its strategic vision at the Global Technology, Internet, Media & Telecommunications Conference 2025. The company highlighted its recent transformation efforts, current stabilization, and ambitious growth plans. While improvements in EBITDA margins and leadership investments were positively noted, challenges such as market penetration and integration work remain.

Key Takeaways

• EverCommerce has improved its EBITDA margin by 500 basis points from 2022 to 2025.
• The company's main revenue streams, EverPro and EverHealth, account for approximately 95% of total revenue.
• New leadership roles have been filled, with a focus on scaling operations and enhancing AI integration.
• The company aims to return to mid-double-digit growth rates, akin to pre-transformation levels.
• EverCommerce continues to pursue share buybacks, believing its stock is undervalued.

Financial Results

• EBITDA Margin: Improved by 500 basis points from 2022 to 2025, and nearly 1,000 basis points since the IPO.
• Revenue Breakdown: EverPro and EverHealth together make up about 95% of the company's revenue.
• Market Penetration: EverPro has less than 2% market penetration, indicating significant growth potential.
• Payment Adoption: New customer payment attach rate is around 60%, with total payment volume penetration at less than 10%.

Operational Updates

• Reorganization: Shifted to vertical-specific teams for sales, marketing, and technology within EverPro and EverHealth.
• Leadership: New CEOs for EverPro and EverHealth were appointed, with 50 leadership positions filled since the start of 2025.
• AI Integration: Acquired ZyraTok for AI-driven solutions, including the AI Receptionist, to enhance customer engagement.

Future Outlook

• Growth Strategy: Focus on customer acquisition, cross-selling, and retention improvements.
• Product Development: Continued integration of AI solutions across EverPro and EverHealth.
• Market Expansion: Aiming for mid-double-digit growth rates, similar to historical performance before the transformation.
• Capital Allocation: Plans include strategic acquisitions and share buybacks, supported by major shareholders.

Q&A Highlights

• Growth Levers: Emphasis on talent, customer acquisition, and cross-selling in EverPro and EverHealth.
• Market Penetration: Acknowledged as underpenetrated in the home services sector.
• AI Opportunities: Excitement around AI-driven solutions, particularly those from ZyraTok, to drive growth.

In conclusion, EverCommerce remains optimistic about its growth trajectory, driven by strategic reinvestments and AI integration. For a deeper dive into their strategies, refer to the full conference call transcript.

Full transcript - Global Technology, Internet, Media & Telecommunications Conference 2025:

Unidentified speaker, Analyst at RBC, RBC: We're, this is—what do we got here? Two, two left. We're down the home stretch, and then it's cocktail hour. Looking forward to that. Thanks for joining us this afternoon. We have EverCommerce. See, we've got Eric, who—we, we, when did you guys IPO? 2021?

Unidentified speaker, Analyst: '21.

Yeah. So we've known each other now for, I don't know, almost four or five years, something like that. Yeah. It's been fun to watch the evolution of the company. I think, you know, just kind of seeing the journey over the years and the service that you guys are providing to SMBs, it's an exciting growth opportunity.

Yeah.

I think, you know, in probably a lot of regards, you probably feel like the best days are still in front of the company in terms of kind of that opportunity. You know, maybe, when we look at 2026, or excuse me, count 2025. I don't wanna get outta myself. You know, it's been a relatively stable year. There was some noise this last quarter on some elements that your business was talking about, but just maybe just at a high level, kind of the state of the union, some of the broader trends that you're seeing. It feels like the new normal is uncertainty these days, and some of your end markets are certainly, you know, they can be volatile at times.

Can you give us kind of a level set on what, how we think about 2025 as kind of a transition year and sort of what does that mean when we think about the future?

You know, you said a key word, you know, it's stabilization.

Yeah.

You know, as we've been talking the last couple years, as we've had these conversations.

Yeah.

We went through really 2023 and 2024 were transition, transformation, optimization years for the organization.

Yep.

Where we went from many, many verticals to really kind of bringing it in and what are the core focus of EverCommerce going forward.

Yes.

We are in three main verticals with EverPro and EverHealth representing about 95% of our revenue. The biggest shift that happened over that period of time was kind of the centralized, you know, workforce helping the verticals succeed. 2023 and 2024, part of that transformation optimization was really putting all the sales, marketing, technology, service into the verticals, getting closer to the customers.

Mm-hmm.

We could ultimately scale those more effectively.

Yeah.

If you think about the stabilization of 2025, during the start of that to today, probably almost 500 basis points of EBITDA margin that has been achieved during that process.

Since from when to?

2022 to 2025.

2022 to 2025.

500 basis points of margin improvement.

Go back to IPO, it's almost 1,000 basis points.

Yeah.

We have really spent a lot of time focused on, first and foremost, how do we get more efficient as an organization? How do we provide more value closer to the customer so we can make quicker, faster, more value-added decisions? A lot of that was done over the last couple years. 2025 was a year of beginning to reinvest specifically in the verticals so we can begin to scale. As you said, the positive days are really in front of us in 2026, 2027, and 2028. As we end this year, and I'll probably say this several times, you know, our infrastructure, our teams, our talent in those verticals, the key verticals, EverPro, EverHealth are deeply in place. Now we can begin putting more dollars into growth and begin to accelerate the top line.

Let's talk about that, yeah, 'cause it always strikes me that there's a tremendous opportunity in sort of these two businesses that you have. What are some of the big levers that could unlock value in Pro and Health?

Yeah. And I, I didn't touch it on that question, but you did ask about end markets. First off, we're very fortunate. Our two end markets are, you know, home service.

Yeah, they are.

Health service.

Yep.

We are in the really break fix of the home service market. Like the vast, vast majority of our customers, we're not in new construction, we're not in new builds, really in break fix. I will tell you, going back to really even, you know, COVID, you know, April of 2020, the business has stopped. By May of 2020, it was as of the home service process.

Yeah.

Nothing had stopped.

Yeah.

When you think about essential services, these are things that are almost anti-cyclical because if you're not gonna be buying a new home, you're not gonna be doing new construction, you're gonna be fixing.

Yeah.

The water heater assembly.

Yeah.

That is a very, not only very consistent end market, but it's a massive end market.

Yeah.

Similar with EverHealth or health service market, essential services. We're dealing with, you know, small doctors, you know, essential services that they're providing, not, you know, services that you, you know, wanna have but really need to have.

Yeah.

When you think of it from that perspective, you know, the core business and the business they're going after are actually really stable. As we think of, you know, to answer your question, where do we go from here? It starts first and foremost with having the right talent on the right seat so we could actually begin to execute. Every part of the business, like any other business out there, acquire customers at good cost of, you know, acquisition.

Yeah.

You sell them additional products and services we can talk about, and then you reduce your retention.

Yep.

All three of those metrics within the organization are improving. We're beginning to acquire more customers. We're growing the top customer funnel. We are generating more revenue per customer and ultimately reducing retention. As that starts getting more scale, you're gonna see that pull into growth and higher retention rates into, you know, 2026 and beyond.

When we think about, let's think about Pro, it's always struck me as, you know, like everybody, a homeowner, we have services being done in our house all the time. I actually kind of ask a lot of folks, like, what do they use for kind of some of the backend stuff? You guys are sort of all over the place in that element in terms of, like, I see your services a lot. How do you think about the elements of growth on Pro? Like you said, it's certainly the new business acquisition. I mean, is there a way to think about how penetrated you are in the North America market from a Pro perspective?

Yeah.

Just from a, like a customer, not a, I mean, wallet share.

We have more service-based small business contractors than any company in the world. We have that many customers. We're in the hundreds to hundreds of thousands. You think of some businesses doing a really great job in this space, like ServiceTitan.

Yeah.

I mean, there's sub 10,000 customers.

Yeah.

We're in the, you know, 300,000-400,000 range in terms of contractors utilizing our service, and we're still under 2% of the marketplace. It's just a massive, massive market. When you think of the trucks in the field, which are continually growing, by the way.

Yeah.

There is not enough of them out there right now.

Yeah.

It's very fortunate end market that we have to work with, and that's continually growing. We're incredibly underpenetrated relative to where the market is, but even with that said, have a massive penetration that exists relative to competitors.

The 2%, was that, that's like of a TAM perspective, you think you're 2%?

There's, I mean.

Yeah.

There's over, when we look at the world, let's use, you know, the number we publish is 350,000.

Yeah.

You know, that we have. There's over, you know, our TAM, 'cause we have businesses that are, we're providing services globally. So we're 30 million contractors that were utilizing our services.

Yeah.

It's, you know, you are literally sub 1%.

The cross, I, I've asked you this before, but I think, you know, with your business, it's like a, it's a family of brands. One of the things that I've often wondered is, like, as an end customer, are they fully aware of all the services that you guys offer them? Because maybe it's different name products. You know, like from a go-to-market perspective, what are you doing to reduce some of the friction and make some of these other products? It could be payments, it could certainly be other things, but talk about some of that cross-sell. What are you doing to improve the cross-sell motion within your existing base?

A lot of that, it's a great question. A lot of that, we've done in the last two years, simplifying, consolidating those markets where I talked about what we've done from the vertical standpoint.

Yeah.

Having a CEO of specifically EverPro, having a full management team fully focused end-to-end on those products and services. They're being consolidated more and more from a go-to-market, from a product development, from a service standpoint. We are not fully there yet, but we're getting to more of a unified, go-to-market process in some of the key brands within EverPro. Biggest things we've done specifically on payments, bringing that sales process to the top of the funnel.

Yeah.

We've seen massive increases from, you know, mid-forties to plus 60% of new, new customers to on-.

Taking payments?

Taking payments for.

Oh, really?

On a basis.

Was it in your, what, what, I should know this off the top of my head, but what, what is the overall penetration of payments just across the?

It, it's, across the board, yeah, I don't know if I, I have that on the, on the total. In terms, for in terms of, we look at it a couple ways. We look at total invoice volume.

Yeah.

If total invoice volume, we're still sub 10% penetrated. We have, of the invoice volume that run through our system, we're getting less than 10% of that on a TPV basis. In terms of customer utilization, it's probably about 30% penetrated in terms of customers we're going after. They've been signed up and have ability enabled for payments. We're not getting all of their, you know, obviously all of their payments at this point.

Yeah.

The biggest opportunity is still in front of us, but it starts with the funnel. The biggest shift we made over the last six months is making sure we sell them at the time they're buying our software, they're also buying payments. From the next table is great. Now they've bought payments, we enable them from payments, then we get the utilization of payments. All those steps are different things we do. Some of them are sales, some of them are product, and then some of them are just how we execute more effectively in the field.

What's great to hear is that attach of payments from a new customer perspective is quite a bit, it almost seems like 2X what your kind of base is right now.

From the new customers.

From the new customers, yeah. What are the other, like, exciting cross-sell opportunities within Pro right now?

The three main ones we have, payments is always number one.

Yeah.

You know, for many reasons.

Yeah.

Not only is it necessary for the customer, we have incredibly high margins on it, creates a very sticky customer and a higher RPM.

Yep.

We'll keep focusing on that one. Second, we have several customer engagement solutions that really provide value to our customers. They range from, you know, reputation management, they range for, you know, we have a lot of remarketing products that our customers have. We've done a much better job of connecting those products, integrating them into our Service Fusion and other products we have. When the customer's utilizing them, they can be buying them even without touch from our customers. The third one that I'm actually probably, I'll say I'm still most excited about payments, but the thing I'm most excited about going forward that we haven't done yet, was the acquisition of ZyraTok.

Oh yeah. Yeah.

We have several AI products that we're already selling into our base. One of the biggest things, you know, one of the things we talked about earlier was, you know, how do we know what our customers want? One of the biggest gaps that we didn't have in our portfolio was in AI receptionists and really AI customer engagement solutions. Buying ZyraTok provides us a really great opportunity for a needed product in the marketplace. When you think about what this does, number one, as a customer AI kind of driven customer engagement solution, the first product to market is this AI Receptionist. We also have several different, you know, AI agentic agents that integrate in and within all of our softwares, which I'll explain more about that in a second.

Think about, from the customer, the receptionist standpoint, why it's so important. Most of our businesses are small businesses. They don't have, you know, big back offices. They may have no back office and/or maybe one person in the back.

Yeah.

When they buy a lead or generate a new, new business opportunity, if you don't answer the phone call, you know this, you call somebody else.

Yeah.

The AI Receptionist, why it's so powerful that we bought this specific company, they have focused for years specifically in the home service space, over 2 million minutes of talk time in these conversations. When you're talking to this AI agent, you actually don't know. It is pretty impressive. They could take you from answering the call, understanding your problem, scheduling, integrate into our software, and then ultimately the dispatch from the software will send out the agent, will send out the actual, you know, plumber, electrician, HVAC guy. It is a really powerful tool for our customers to have that. The ROI on that is, I mean, it's through the roof because once they have that, you're talking about, you know, you made one call that you would've missed becomes an active.

Yeah.

Customer. You know, it pays for itself, you know, three times over. So that product is now already integrated into one of our softwares. We're beginning beta customers already on the platform. Going into 2026, we expect to start seeing that ramp up a little bit.

You mentioned some other AI products, but I guess specifically on this one, what, I mean, is there any sort of, like, view of what this could do to, like, customer spend? Is it, is it a X% uplift to, you know, how you think about from the monetization?

Yeah.

ZyraTek?

A lot of it depends on the product, and it depends on the utilization 'cause this is, the way the, you know, AI Receptionist works. It's a, you know, SaaS fee plus utilization. It really will depend. We'll have a better feel for that going into 2026 based on the beta customers we have on now, what is the utilization, part of that. Of that, part of the puzzle. It's a multiple that we will get on an existing customer in terms of utilizing that product plus the core software will be a multiple, you know, RPU on that business.

Is it margin accretive then too? Would.

Oh, completely.

Yeah.

Yeah. It's a very high margin business as well.

Yeah. Yeah. So there, like, even, like, will there be a consumption element to that too?

There is. It's a utilization based.

Okay.

On how many minutes they're ultimately.

Okay.

You pay an ongoing SaaS fee plus a, you know, a minute per fee. As I said, literally one customer pays for your, you know, your monthly software fee.

Yeah.

It's a pretty powerful tool.

Yeah.

The cool thing is, as you run these demos, and you know, we're not the only company that provides these, but a lot of them down market haven't integrated these solutions. Now that we have this service that we can integrate seamlessly through our software, it's a real value add. Everything we do is focused on, first and foremost, how do we provide more value to those end customers? How do we provide more services that either, A, they're asking for, or B, we know they need because their competitors in the little market are already utilizing them.

Yeah.

It is a pretty powerful tool that, like I said, our core focus is how do we empower that customer to be more successful? We are pretty confident this is gonna be one of them.

It's probably not as relevant for EverPro, EverHealth. Is it, or is it?

It is.

Okay.

It is. I think we, because of the history of this organization and because of the background of all the, you know, the utilization minutes, and so that it's got trained pretty strongly.

Yeah.

We're launching it in EverPro, but it's got very similar applications.

Oh, really?

To healthcare.

Okay. I was gonna mention there's a lot, like somebody working a front desk of a healthcare organization.

A hundred percent. That, it's not only inbound but outbound as well to verify.

Oh, okay.

Appointments and things of that nature. We're, it's already in, you know, in beta in EverPro. We've already integrated into our core software.

Okay.

We already have customers on the platform working through our system. Remember, these guys already have thousands of customers outside of our system.

Yeah.

It's an ongoing proven platform. We've now put it into our ecosystem probably by sometime in 2026. I don't wanna put a specific timeframe on it, but sometime next year for sure, we'll integrate that into EverHealth as well.

Okay. And then from what else from an AI perspective are you excited about? More on the, like the EverPro side?

I mean, you know, we have, you know, every part of our business that we're working on right now. This product, part of what was exciting, it wasn't just the AI Receptionist, which is very valuable, but there's other AI receptionists out there. What was really interesting, what they have created, really these agentic agents throughout the workflows in the home service space. We have invoicing agents, we have payment agents, we have scheduling agents, we have agents that will eventually be allowed, allow us to help people be coached, based on their industry and what they're doing. Several of those are already built. We're integrating those into our software.

For example, you send that invoice and there may be a reminder in the software, but this AI agent is a proactive integrated follow-up for you to, you know, for your invoice that got sent out. It actually reminds the customer for what the invoice was, how to, what the payment should be. And it does it on an automated basis. You as the user don't have to do that kind of thing. Very similar scheduling. The AI scheduler will create best logistics, best workflows. Where should the, what individual rep in the field should go where? What we bought was more than a, you know, just an AI Receptionist. We bought this fully integrated, really AI solution that has not only been tested in the market, but it's been fully focused in the home service space for several years.

Really excited to get those out there. Some of those products will just be integrated to make our softwares better. Some of those products will end up being upsells and cross-sells, based on what bundles we ultimately put together.

That's really part of this year, is this all about sort of stabilization, but that seems like a big part of what gets you excited about.

Yeah. I mean, we think the, you know, the receptionist will be an upsell because it's an additional product. Some of these other solutions, again, will bundle into higher levels of our, you know, our SaaS platforms. It goes from being, you know, we're working on AI and have really good products in the market to becoming a real product leader, and really being, you know, in front of the market utilizing the AI tools to just really provide better value to that down market.

Yeah.

SMB customer.

Yeah. What about EverHealth now? What, what, what's exciting about, about that side of the business when we look towards next year?

Yeah. I mean, the biggest opportunity with EverHealth has been the biggest challenge over the last three years, and we're finally coming out of it. When you think about making a lot of acquisitions in EverHealth between, you know, having a really good EMR, a really good practice management, really good customer engagement solution, a really good patient pay, a claims processor, all of those pieces existed so we can provide value to our customers. Those pieces were not altogether. It was the seamless experience we were looking to provide, was really great in theory, but in practicality, it was a little more hard to kind of connect the dots. We spent several years on the backend ecosystem connecting those dots.

EverHealth as a, you know, go-to-market providing, you know, practice management, EMR, patient pay, patient engagement, claims processing, all under one workflow is, is not only exciting, it's actually, you know, doesn't exist in the marketplace. It is a real differentiator what we have in that, in that platform with tens of thousands of customers utilizing that platform. Again, we have scale in all the markets we're in. Now we're able to provide a product that really for that, that one to ten doctor's office, and we have a lot of one to three, they don't have to go get a PM to connect with the EMR. They don't have to go get a separate claims processor or an RCM platform. All those services are seamlessly integrated into our platform right now, which again, going forward is a huge differentiator in the market.

It seems, I mean, it feels like there was even more integration work that you had to kind of tackle on this side.

It's not, we're still doing it.

Yeah.

It's been a lot, it's been a lot of work done. That is probably a, you know, a couple year or two ahead of where EverPro's gonna be. We've seen the light because we've done it now for the last several years with EverHealth.

Ever, you said EverHealth, what, what?

No, with EverHealth.

Yeah. Yeah.

They're a few years ahead of where EverPro's gonna be.

EverPro is.

Exactly.

Okay.

When you connect the dots and you run the business as one business, which we've done now at EverHealth, where we have a go-to-market team, we have a product development team, we have a customer service team all integrated under one organization, you start seeing not only the optimization from a cost standpoint, which is why our margins continue to grow, but you're able to see efficiency in product development, providing more value to the customer and ultimately, you know, be able to grow those businesses more effectively.

In addition to eventually integrating ZyraTok into EverHealth, are there additional AI opportunities there that maybe don't exist in the pro side? Or the.

Yeah. I mean, we're doing things on a, you know, on a daily basis. We're launching, you know, ambient voice in the background. When the doctor's taking the notes, it's just being, you know, AI generated.

Yeah.

Notes into things similar with when we send our, you know, scripts to, or the billing through RCM, you know, AI's, you know, it could become integrated into that process. Within EverHealth, there's several different tools that A, already exist and B, that we're working on, via AI to make those softwares, you know, even more. Again, our focus is always how do we make a better user experience? How do we simplify that workflow for that customer?

Yeah.

That small doctor's office, utilizing AI to make that a more seamless process. Many things are already in market and many things will be in market in the next six to twelve months as well.

When you think about where you're at today and kind of continuing this trend of maybe, you know, the best days of EverCommerce are still in front of you guys, how do you think about, like, you know, you're not offering 2026 guidance yet, but how do you think about some of the building blocks? You know, when you think about how, what's that growth algorithm look like when you start to see some of these synergies?

You know, similar to what we talked about in the first question, I mean, the building blocks of our business aren't so unique. You know, we acquire more customers, we sell them more products and service of value, and we do a really good job on the backend retention. The core building blocks are really every piece of the funnel, making sure that we are maximizing the value of each part of the funnel, so we can acquire more effectively, more cost-effectively, provide more value to the customer, and ultimately retain the customers more efficiently. When you think about what I get most excited about as we go into 2026 and then even in 2027 and beyond, when I talk about stabilization in 2025 and really breaking up those verticals.

Yep.

Specifically EverPro and EverHealth, since the beginning of this year, since January 1, we have 50 new leadership positions either new to that role or new to the company within EverPro and EverHealth, and it's probably 30, 20. When you think about that massive influx of talent that has been put into those organizations really over the last, you know, six months or so, really three to six months as we've gotten the momentum with them, you're gonna start seeing the value of those individuals that are now fully focused within the EverPro, EverHealth ecosystem, starting to come to fruition. During that transition period, as we broke up the organization from the centralized standpoint, the roles and responsibilities that we needed going forward were just different.

We turned over a lot of, you know, key talent over those two years, still grew, still got more profitable, but really 2025 was the time where we had the stabilization in, in play. We had the CEO, you know, Evan Berlin, you know, joined up. He was already at the organization, but took over as CEO of EverHealth literally January 5th. Josh McCarter took over as EverPro's CEO late in 2024. Having those two people in seat allowed us to begin investing and building out their teams. As we leave 2025 into 2026, those teams are there, those teams are stable, those teams are solid. Now you can begin really, truly reinvesting in all the key things from product development, go-to-market, engineering, to provide more, more growth to the organization.

I mean, this market is finicky for sure, but what it certainly is doing is rewarding acceleration.

Correct.

You know, how do you, like, what is, what is the, like, a longer-term growth rate of this business? I mean, it feels like with the algorithm in place with AI and payments and, you know, more focus here. I mean, is this, could this, I mean, I, you know, I don't know if you, if you think about, like, what this growth could look like on a cumulative basis, looking further out.

Yeah. Each business is different. They all have their own growth algorithms. I mean, this should be a, you know, mid-double-digit growth business. We're definitely a double-digit growth business. We always were historically until we kind of went into our transformation optimization, which we knew as you grow your, you put the margins by 1,100 basis points.

Yeah. Yeah.

You are aggregating growth.

Yeah.

Like, we knew that 100%. Now that that is, that is done, that is, it's like done, you're never done optimizing. You're gonna continue to optimize. Now that the base work is completed and these businesses are separated, now you can begin reinvesting the business for growth. There's no reason we can't get to growth rates we were historically prior to that happening. We went public. We were a high teens grower.

Yeah.

business scale. It's not a lot of large numbers at this point. It's really just a focus and an opportunity. We think we can maintain really healthy EBITDA margins while getting our growth rates up to numbers that I think we've been at historically.

Did you learn anything, you know, through that trend, through that journey of trying to optimize margins? Like, we, you know, or said differently, you know, with hindsight now, do you think you approached that with sort of the correct view of like trying to optimize margins and then re-accelerate growth? I mean, was this the right strategy in this?

It was for long term. The short term, it sucked.

Yeah.

Honestly, it wasn't very much fun.

Yeah.

For long-term sustainable growth, having the people, especially as, you know, we knew we were focusing very strongly on two main verticals. There was no reason for, when you're gonna be in four, five, six verticals, four years ago, your question to me was, what's next in terms of what vertical you went after, right?

Yeah. Yeah.

If that's where you're gonna go, you better make sure that you have a centralized platform to help all those grow. When you're gonna really go all in on two really great end market verticals, getting your product people closer to the pro, the product, the customers, your salespeople, your, you know, your go-to-market teams, all that is incredibly important for long-term sustainable growth, and be able to focus on that when you wake up in the morning and you go to bed at night. Think of the alternative. Your go-to-market team was centralized. They're part of the team's focused on EverPro, part of EverHealth, part of EverWell. You're being pulled apart from a focus standpoint. Now the blinders are on, and the blinders are on in a really good way. We've proven we can get very, very profitable.

We've been, we've had really good growth historically. Now it's just a matter of putting that back there.

Putting that back there and making that happen. You sort of preempted my question, but now that you have this new sort of focus in place with the two main businesses, you know, does it open up an opportunity? Now you're like, well, now we have the platform in place that we could add a third, you know, that question that I asked you three or four years ago. I mean, or is it no, like, this is probably the structure that, you know, you guys look like five years from now?

We'll always be opportunistic if something comes up. I think right now we're in three main verticals right now. We're EverWell, EverPro, and EverHealth. The reason I keep talking about EverPro and EverHealth, it is 95% of the business.

Yeah.

The end markets for those businesses are so large. Both the TAM and the SAM are absolutely huge. Our focus right now is we've put the little blinders on. We've said, listen, we're gonna crush these markets. We're gonna own these markets.

Yeah.

We're gonna be leaders if we're not already, which I believe we are in the, in the core markets we go after. How do we scale these businesses more effectively? How do we use our resources and our focus and our energy, make sure that we are, you know, scaling these businesses in a way that makes sense and not be diverted from a, you know, vertical standpoint?

Yeah. In terms of capital allocation at this point, obviously you've done a lot on the margin side. You've had a buyback. You know, how do you think about deploying that cap, that, that, these EBITDA dollars that you're generating?

Yeah. I mean, it's something we at the board level, we talk about all the time. You know, we generated significant cash flow and we'll continue to generate significant cash flow. And we're able to kind of use that for acquisitions that make sense.

Yep.

We bought ZyraTok off a balance sheet, which was great. The reason we continue the buyback is if I could buy a company right now as cheap as we believe our company is, we would buy it all day long. I mean, it's, I mean.

High, high or off.

We go into multiples, but it's, you know, it's a fraction of what, you know, a company that we believe the value should be. It's a really good utilization of capital for our business. We'll continue to allocate capital in areas that we think are the best return for our shareholders.

Yeah. It feels like a very creative endeavor at this point.

We believe so.

If we're sitting here in two, three, four years from now and we look back and we're like, wow, like this business in flight, like what, you know, what is that thing that you're sort of most excited about that puts you guys to maybe grow high teens again? Like what?

Yeah. It's a lot of the things that we talked about. It's the laser focus on the markets we're in. It's providing the best products, with fully AI integrated from not only internal but external, which we're doing as we speak. It's providing all the value from soup to nuts that our customers need in those end verticals. When the customer's utilizing our core solution, they're utilizing our, you know, system of action, our payments integration, you know, our, you know, our AI, you know, bundles that are gonna make the software even more effective. When you put that all together, it really provides a very sticky, you know, high RPU platform that is, you know, we're incredibly excited about.

Yeah. Maybe just one last one. In terms of sort of the sponsor that's been involved with you guys for years, I mean, how, what does this look like longer? I mean, could there be some additional shares and floats and whatnot? I mean, how do you kind of think about the sponsor right now?

Yeah. I mean, you know, we have two great partners, Silver Lake and Providence Strategic Growth. They own a very large portion of our, you know, overall float as an organization. It's, you know, right around 80%. You know, I don't speak for them. So, you know, they're gonna do what's best for their organization, the best for the firms, but their big belief is in our business. And they're not sellers at these prices. I could promise you that because they could do the math and understand the value of this business is certainly greater than the market's given us right now. As that value begins to, you know, expand, I think there's a lot of different ways we can go with the organization. Right now they're just big supporters of the business.

Yeah.

Continue to help us, you know, maximize the value that we have.

Yeah. It feels like, I mean, a lot of work that was behind the scenes that we did not see, but it feels like it was quite a bit of rolling up the sleeves and positioning this business for what could be a very, very, not only healthy growth, but very profitable growth story in the future. We are, with that, out of time. That was a quick 30 minutes. Eric, Brad, from all of us at RBC, thanks again for the support.

I appreciate it.

For coming and best of luck.

Have fun.

Cool.

Thanks, Eric.

Cheers.

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