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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, 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.
EverQuote, a prominent online insurance marketplace, is set to participate in two key investor conferences. The Needham Technology & Media Conference will take place on May 17, 2022, with a fireside chat at 3:00 p.m. ET in New York. Following that, the J.P. Morgan Global Technology, Media and Communications Conference is scheduled for May 24, 2022, at 4:50 p.m. ET in Boston. Investors can access live audio webcasts and recordings on EverQuote's investor relations website. The company aims to simplify insurance through data and technology.
EverQuote, a leading online insurance marketplace, reported a 7% increase in first quarter revenue to $110.7 million for the quarter ending March 31, 2022. Revenue from non-auto insurance verticals rose 19% year-over-year, contributing to the performance despite challenges in the auto insurance market. The company generated a Variable Marketing Margin of $34.3 million, up 9%, and positive Adjusted EBITDA of $2.4 million. However, the GAAP net loss widened to $5.7 million from $3.8 million in the prior year. Guidance for Q2 anticipates revenue of $92 - $97 million.
Savano Capital Partners has successfully closed its third fund, Fund III, with $157 million in committed capital, nearly double the amount of its previous fund. This brings the firm's total assets under management (AUM) to over $300 million. The fund attracted both existing and new limited partners, enhancing Savano's capacity to provide liquidity and growth equity to expansion-stage companies. To date, Fund III has invested in 13 companies spanning sectors such as cybersecurity and fintech. Savano's team has also expanded with two new Vice Presidents to support its growth initiatives.
EverQuote, Inc. (Nasdaq: EVER) announced its first quarter 2022 financial results will be released on May 2, 2022, after market close. A conference call with management will follow at 4:30 p.m. ET to discuss the results and future outlook. EverQuote operates a leading online insurance marketplace aimed at connecting consumers with insurance providers. The company focuses on making insurance simpler and more affordable, using technology and data to enhance the customer experience.
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