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EverQuote, Inc. (NASDAQ: EVER) is a leading online insurance marketplace based in Cambridge, Massachusetts. The company provides a platform that connects consumers seeking insurance with a network of insurance providers. EverQuote focuses primarily on auto, home, and life insurance, helping consumers find relevant insurance quotes that meet their needs.
The company leverages data science and advanced technology to optimize its marketplace, ensuring high-quality, scalable connections between consumers and insurance providers. EverQuote's proprietary platform uses sophisticated mathematics and enterprise-class technology to drive its multi-channel campaign management and optimization, delivering high-quality traffic and referrals at optimal costs for its partners.
Founded as a quantitative internet marketing firm, EverQuote has deep roots in proprietary search engine marketing (SEM), analytics, email, and display technologies. This allows the company to efficiently source, scale, and deliver high-quality traffic and referrals. The EverQuote team uses a range of technologies, including comprehensive reporting and bidding engines, to maximize the effectiveness of its platform.
Recently, EverQuote has made several strategic moves to strengthen its position in the marketplace. The company reported a revenue of $68.0 million for the second quarter of 2023 and a Variable Marketing Margin (VMM) of $24.7 million, a record high as a percentage of revenue. In response to a prolonged downturn in the auto insurance market, EverQuote restructured its operations, eliminating approximately 30% of positions company-wide and exiting its health insurance vertical. This restructuring aims to position the company as a leader in the auto and home insurance markets.
EverQuote's financial condition has been bolstered by the sale of certain assets in its health insurance vertical for $13.2 million, providing additional liquidity. The company continues to focus on judicious expense management and strengthening its balance sheet, adopting a more asset-light model to capitalize on market opportunities with the normalization of the auto insurance industry.
EverQuote's mission is to empower insurance shoppers to protect their most important assets—their family, property, and future. The company's vision is to become the largest online source of insurance policies, using data, technology, and knowledgeable advisors to make insurance simpler, more affordable, and personalized.
For more information, visit everquote.com and follow the company on LinkedIn.
EverQuote (Nasdaq: EVER), an online insurance marketplace, has announced its participation in four upcoming investor conferences in late 2024. The company will attend the RBC Capital Markets Global Technology Conference in New York on November 20th with a presentation at 10:00 AM ET, the Stephens Investment Conference in Nashville on November 21st, the Wolfe Research Small and Mid-Cap Conference in New York on December 4th, and the Raymond James TMT & Consumer Conference in New York on December 10th with a presentation at 2:20 PM ET. All conference fireside chats will be accessible via live audio webcast and archived on EverQuote's investor relations website.
EverQuote (EVER) reported outstanding third quarter 2024 financial results, with total revenue reaching $144.5 million, up 163% year-over-year. The company's automotive insurance vertical generated $130.0 million in revenue, a 202% increase, while home and renters insurance revenue grew 30% to $14.1 million. Variable Marketing Margin increased to $43.9 million, and the company achieved a GAAP net income of $11.6 million. Cash and cash equivalents stood at $82.8 million, up 36% from Q2 2024. For Q4 2024, EverQuote projects revenue between $131.0-$136.0 million and Adjusted EBITDA of $14.0-$16.0 million.
EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, has announced that it will release its third quarter 2024 financial results after the market closes on Monday, November 4, 2024. The company's management will host a conference call and webcast to discuss the financial results, recent developments, and business outlook at 4:30 p.m. ET on the same day.
Interested parties can access the live call via the following options:
- US Toll Free: (800) 715-9871
- All Other: +1 (646) 307-1963
- Conference ID: 4210704
A live webcast and replay of the call will be available at http://investors.everquote.com/.
EverQuote (Nasdaq: EVER), a leading online insurance marketplace, announced participation in four upcoming investor conferences.
The conferences include Oppenheimer’s 27th Technology, Internet & Communications Conference on August 12, 2024 (virtual, 2:05 PM ET), Canaccord Genuity 44th Annual Growth Conference on August 14, 2024 (Boston, MA, 2:00 PM ET), Needham FinTech & Digital Transformation Conference on August 15, 2024 (virtual), and B. Riley Securities' 7th Annual Consumer & TMT Conference on September 12, 2024 (New York, NY).
Presentations and fireside chats will be accessible via live audio webcast and archived replay at EverQuote’s investor relations website.
EverQuote (Nasdaq: EVER) reported record second quarter 2024 financial results, with total revenue increasing 72% year-over-year to $117.1 million. The company's automotive insurance vertical revenue grew over 106% to $102.6 million, representing 88% of total revenue. Variable Marketing Margin (VMM) increased 48% to $36.5 million, while net income improved to $6.4 million from a loss of $13.2 million in Q2 2023. Adjusted EBITDA rose to $12.9 million, compared to a loss of $2.1 million in the prior year period.
EverQuote ended the quarter with $60.9 million in cash and cash equivalents, a 25% increase from Q1 2024. For Q3 2024, the company projects revenue between $137.0 - $143.0 million and Adjusted EBITDA of $14.0 - $17.0 million.
EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, has announced that it will release its second quarter 2024 financial results on Monday, August 5, 2024, after the market close. The company will host a conference call and webcast at 4:30 p.m. ET to discuss the results, recent developments, and business outlook.
Interested parties can access the live call via US Toll Free: (800) 715-9871 or +1 (646) 307-1963 for all other locations, using Conference ID: 4210704. A live webcast and replay will be available at http://investors.everquote.com/.
EverQuote's mission is to empower insurance shoppers by connecting them with providers and simplifying the process of protecting important assets. The company aims to become the largest online source of insurance policies through data-driven, personalized solutions.
EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, will participate in several upcoming investor conferences. The company's management will present at key events throughout May and June 2024, including the 9th Annual Oppenheimer Emerging Growth Conference, the 19th Annual Needham Technology, Media, & Consumer Conference, the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference, and more. The presentations aim to provide insight into EverQuote's business and strategy, with live webcasts and replays available on the investor relations website.
EverQuote, Inc. (Nasdaq: EVER) announced its first quarter 2024 financial results, highlighting revenue of $91.1 million, Variable Marketing Margin of $30.8 million, and record GAAP Net Income of $1.9 million. The company exceeded guidance ranges for revenue, VMM, and Adjusted EBITDA. Strong results in the automotive insurance vertical, net income, and cash flow from operations were key highlights. EverQuote remains optimistic about the auto insurance industry recovery, investing in growth opportunities. The second quarter 2024 outlook includes revenue of $100.0 - $105.0 million, VMM of $31.0 - $33.0 million, and Adjusted EBITDA of $7.0 - $9.0 million.
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