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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, a prominent online insurance marketplace, announced its participation in major investment conferences. The company will host one-on-one investor meetings at the Credit Suisse 24th Annual Financial Services Forum on February 13-14, 2023, with a fireside chat scheduled for February 13 at 2:40 p.m. ET in Miami, FL. Additionally, EverQuote will present at the Raymond James 44th Annual Institutional Investors Conference on March 7, 2023, at 2:50 p.m. ET in Orlando, FL. Interested investors can access live webcasts and replays on EverQuote’s investor relations website. EverQuote aims to simplify and personalize insurance shopping for consumers.
EverQuote, Inc. (Nasdaq: EVER) has appointed Julia Brncic as General Counsel and Corporate Secretary. With extensive experience in the insurance sector, Brncic aims to enhance the company’s legal and compliance strategies. CEO Jayme Mendal expressed confidence in her leadership and industry knowledge, highlighting their commitment to improving services for consumers and insurance providers. Brncic previously held key legal roles at Cigna and Express Scripts, and carries a JD and MBA from Washington University. EverQuote continues to focus on expanding its online insurance marketplace amid a growing digital shopping trend.
EverQuote, a top online insurance marketplace, announced its participation in the 25th Annual Needham Growth Conference on January 10, 2023. The management will host one-on-one investor meetings, with a fireside chat scheduled for 10:15 a.m. ET in New York, NY. The session will be available for live audio webcast and archived replay on EverQuote's investor relations website. This participation reflects EverQuote's commitment to engaging with investors and its strategy for future growth.
EverQuote, a leading online insurance marketplace, announced participation in several investor conferences. The RBC Global Technology Conference is set for November 16, 2022, with a fireside chat at 12:50 p.m. ET in New York. The Stephens Annual Investment Conference follows on November 17, 2022, at 10:00 a.m. ET in Nashville. Lastly, the Raymond James Technology Investors Conference will take place on December 6, 2022, at 8:35 a.m. ET in New York. These events will be available via live audio webcast on EverQuote's investor relations website.
EverQuote, Inc. announced its Q3 2022 financial results, reporting total revenue of $103.2 million, a decline of 4% year-over-year. The automotive insurance vertical generated $88.2 million, down 2%, while other insurance verticals saw a more significant drop of 16%, totaling $15.1 million. The variable marketing margin stood at $31.8 million, decreasing 2%, while an Adjusted EBITDA of $2.0 million was reported, down from $2.7 million in the prior year. The company anticipates a challenging Q4 with expected revenue between $87 million and $92 million.
Semrush (NYSE: SEMR) has appointed David Mason as General Counsel and Secretary, bringing over 20 years of legal and entrepreneurial experience. Mason previously served as General Counsel at EverQuote and Deputy General Counsel at KAYAK, where he managed corporate governance and played a key role in KAYAK’s $1.8 billion acquisition by Booking Holdings (NASDAQ: BKNG). CEO Oleg Shchegolev expressed confidence in Mason's ability to support the company's growth strategy. Semrush has over 91,000 paying customers and offers a robust online visibility management platform.
EverQuote, a leader in the online insurance marketplace, will release its third quarter 2022 financial results on November 1, 2022, after market close. The company will hold a conference call at 4:30 p.m. ET to discuss its financial performance, recent developments, and future outlook. Investors can join the call using designated toll-free numbers or via a live webcast available on the company's investor relations website.
EverQuote, a leading online insurance marketplace, announced its participation in investor conferences this August 2022. Key events include the Oppenheimer 25th Annual Technology Conference on August 9 at 11:35 a.m. ET, the Canaccord Genuity 42nd Annual Growth Conference on August 10 at 9:30 a.m. ET in Boston, and the William Blair 5th Annual Insurance & Banking Technology Conference on the same day at 11:45 a.m. ET. Additionally, they will attend the Needham 4th Annual Virtual FinTech Conference on August 18. All conference details can be accessed on EverQuote’s investor relations website.
EverQuote, Inc. reported second-quarter 2022 earnings, with total revenue of $101.9 million, a 3% decline year-over-year. The company's Variable Marketing Margin (VMM) rose to $33.1 million, an increase of 1%. Meanwhile, GAAP net loss widened to $3.8 million compared to $1.9 million last year. Adjusted EBITDA fell to $1.4 million from $6.6 million. Looking ahead, for Q3 2022, EverQuote predicts revenues between $90 - $95 million and an Adjusted EBITDA range of ($6) - ($3) million.
EverQuote, Inc. (Nasdaq: EVER) announced the upcoming release of its second quarter 2022 financial results on August 1, 2022, after market close. A conference call will follow at 4:30 p.m. ET, where management will discuss financial performance, recent developments, and future business outlook. EverQuote operates as an online insurance marketplace, aiming to simplify, personalize, and reduce costs for insurance shoppers, ultimately striving to become the largest online source of insurance policies.
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