Welcome to our dedicated page for EverQuote news (Ticker: EVER), a resource for investors and traders seeking the latest updates and insights on EverQuote stock.
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 reported a 34% increase in revenue year-over-year, reaching $105.1 million for Q2 2021, alongside a 40% rise in Variable Marketing Margin to $32.8 million. The company's GAAP net loss decreased to $1.9 million, while Adjusted EBITDA grew to $6.6 million. The acquisition of PolicyFuel expands EverQuote's strategy into the property and casualty sectors. The company forecasts Q3 2021 revenue of $109-$111 million and full-year revenue of $440-$446 million, with adjusted EBITDA expectations noted in the guidance.
EverQuote, Inc. (Nasdaq: EVER) has announced its agreement to acquire PolicyFuel, LLC for approximately $16 million in cash. This strategic acquisition aims to enhance EverQuote's product offerings in the property and casualty (P&C) insurance market, allowing access to a $135 billion commission market. PolicyFuel's expertise in policy-sales-as-a-service (PSaaS) will support EverQuote's growth strategy and improve consumer shopping experiences. The deal, expected to close by Q3 2021, includes potential additional stock consideration based on growth targets.
EverQuote, Inc. (Nasdaq: EVER) will report its second quarter 2021 financial results after the market closes on August 2, 2021. A conference call and webcast are scheduled for 4:30 p.m. ET to discuss the financial outcomes and business outlook. The event will be accessible via US/Canada toll-free call and international dial-in options. EverQuote connects consumers with insurance providers, aiming to simplify and personalize insurance shopping.
EverQuote, Inc. (Nasdaq: EVER) has announced the appointment of Garett Kitch as Senior Vice President of Health and Life Agency Sales. Kitch, a seasoned sales leader, brings extensive experience in scaling teams and driving sales growth. His previous roles include leading Medicare sales at eHealth, and he aims to enhance EverQuote's health and life insurance segments. The company emphasizes a culture of collaboration and innovation, focusing on providing a superior insurance shopping experience as market trends shift online.
EverQuote, a leading online insurance marketplace, announced its participation in multiple investor conferences for May and June 2021. The company will host one-on-one meetings and virtual fireside chats, which include:
- Needham Virtual Technology & Media Conference: May 19, 2021, at 8:45 a.m. ET
- J.P. Morgan Global Technology Conference: May 24, 2021, at 2:45 p.m. ET
- William Blair Growth Stock Conference: June 2, 2021, at 9:40 a.m. ET
- Baird Global Consumer Conference: June 8, 2021, at 3:45 p.m. ET
These events will be available via live audio webcast on EverQuote’s investor relations website.
EverQuote, Inc. (Nasdaq: EVER) reported a 28% revenue increase year-over-year to $103.8 million for Q1 2021. Non-auto insurance revenue jumped 41% to $19.3 million, while Variable Marketing Margin rose 32% to $31.4 million. Despite a GAAP net loss of $3.8 million, Adjusted EBITDA improved to $4.8 million. The company forecasted Q2 revenue between $101-$103 million and full-year revenue of $434-$442 million, reflecting a strong growth outlook.
EverQuote, Inc. (Nasdaq: EVER) will report its first quarter 2021 financial results on May 3, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results, recent developments, and the company's outlook. Investors can join the live call or access a replay later. EverQuote aims to connect consumers with insurance providers, striving to simplify and personalize insurance services using data and technology.
EverQuote, a leading online insurance marketplace, reported strong financial results for Q4 and the full year of 2020. Total revenue increased by 32% year-over-year to $97.3 million for Q4 and by 39% to $346.9 million for the full year. The Variable Marketing Margin also rose, showing a 46% increase to $31.9 million in Q4 and a 48% increase to $108.6 million yearly. Despite a GAAP net loss of $11.2 million for 2020, EverQuote achieved an Adjusted EBITDA of $18.4 million. Q1 2021 guidance suggests revenues of $100 - $102 million.
EverQuote, a leading online insurance marketplace, announces participation in upcoming investor conferences. Management will host one-on-one meetings at notable events, including the 22nd Annual Credit Suisse Financial Services Forum on February 25, 2021, with a virtual fireside chat at 2:40 p.m. ET. The company will also present at the JMP Securities Technology Conference on March 1, 2021, at 1:00 p.m. ET, and the Raymond James Institutional Investors Conference on March 3, 2021, at 9:10 a.m. ET. Webcasts will be available on their investor relations website.
EverQuote, Inc. (Nasdaq: EVER) will announce its fourth quarter and full year 2020 financial results on February 22, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET for management to discuss financial results and business outlook. The call can be accessed toll-free in the U.S. and Canada at (877) 273-5005 and internationally at (647) 689-5410, with a conference ID of 8772399. A replay will be available until February 28, 2021. EverQuote is an online insurance marketplace aiming to simplify and personalize insurance for consumers.
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