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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.
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.
EverQuote, Inc. (Nasdaq: EVER) has secured a $15 million private placement investment from Recognition Capital, led by Chairman David Blundin. This investment supports EverQuote's strategy to enhance growth in the online insurance marketplace. Under the agreement, 1,004,016 shares of Class A Common Stock will be purchased at $14.94 each, matching the closing price before the announcement. Proceeds will be utilized for working capital and corporate purposes. The securities sold are not registered under federal securities laws, indicating potential investment risks.
EverQuote, a prominent online insurance marketplace, announced participation in several upcoming investor conferences in February and March 2022. Key events include:
- Credit Suisse 23rd Annual Financial Services Forum on February 17-18, 2022, with a fireside chat at 3:30 p.m. ET in Miami, FL.
- JMP Technology Conference on March 7, 2022, at 5:30 p.m. ET in San Francisco, CA.
- Raymond James 43rd Annual Institutional Investors Conference on March 8, 2022, at 11:35 a.m. ET in Orlando, FL.
Live webcasts will be available on EverQuote's investor relations website.
EverQuote reported a 5% year-over-year revenue increase for Q4 2021, totaling $102.1 million. Revenue from non-auto insurance verticals surged 50%, with health DTCA revenue rising 281% to $14.5 million. Full-year revenue reached $418.5 million, marking a 21% growth. However, GAAP net loss widened to $19.4 million, and Adjusted EBITDA decreased to $14.6 million. For Q1 2022, the company projects revenue between $101-$103 million and full-year revenue guidance of $420-$430 million.
EverQuote, Inc. (Nasdaq: EVER) is set to release its fourth quarter and full year 2021 financial results on February 16, 2022, after the market closes. The company will also host a conference call at 4:30 p.m. ET to discuss these results, along with recent developments and future business outlook. EverQuote, a leading online insurance marketplace, aims to simplify insurance shopping by connecting consumers with providers, enhancing affordability, and personalizing policies.
EverQuote, a leading online insurance marketplace, will present at three upcoming investor conferences. The Wolfe Research Inaugural Insurance Forum is scheduled for December 2, 2021, at 9:30 a.m. ET. The Raymond James Technology Investors Conference will take place on December 8, 2021, at 10:30 a.m. ET, followed by the 24th Annual Needham Growth Conference on January 10, 2022, at 10:00 a.m. ET. All presentations will be available via live audio webcast and archived on EverQuote's investor relations website.
EverQuote, a top online insurance marketplace, will present and have one-on-one investor meetings at the RBC Technology, Internet, Media and Telecom Conference.
Event Details:
Date: Wednesday, November 17, 2021
Fireside Chat Time: 10:15 a.m. ET
The event will be available via live audio webcast and replay on EverQuote’s investor relations website.
EverQuote aims to simplify and personalize insurance, empowering consumers to protect their most vital assets.
EverQuote reported a 20% year-over-year increase in revenue for Q3 2021, totaling $107.6 million. The company successfully integrated the acquisition of PolicyFuel, enhancing its DTC Agency operations. However, the GAAP net loss increased to $5.3 million, compared to a loss of $3.2 million a year earlier. Adjusted EBITDA decreased to $2.7 million from $5.2 million. For Q4, EverQuote anticipates revenue between $93.5 - $98.5 million and adjusted EBITDA ranging from ($1.5) - $1.5 million.
EverQuote (Nasdaq: EVER) announced preliminary financial results for Q3 2021, estimating total revenue between $106.5 million and $107.5 million, below its previous guidance of $109 million to $111 million. The variable marketing margin is also expected to fall short, forecasted at $32 million to $32.5 million, compared to prior guidance of $33 million to $34 million. A GAAP net loss is anticipated between $6.0 million and $5.5 million, with adjusted EBITDA estimated at $2.0 million to $2.5 million, significantly lower than earlier guidance of $4.5 million to $5.5 million.
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