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, Inc. (Nasdaq: EVER) has announced the promotion of David Brainard to Chief Technology Officer, effective January 12, 2021. Co-founder Tomas Revesz praised Brainard's transformative impact on the engineering organization since joining in 2019. As CTO, Brainard will oversee all engineering teams, including Security Operations and IT. Revesz transitions to the new role of Chief Architect, where he will guide technical strategy and corporate development. Brainard brings over 25 years of experience from notable companies such as Wayfair and Bank of America.
EverQuote, Inc. (Nasdaq: EVER) announces the appointment of Craig Lister as Chief Marketing Officer. Lister brings extensive experience in consumer marketing and growth strategies, previously leading global consumer acquisition at NortonLifeLock. CEO Jayme Mendal expressed confidence in Lister's ability to enhance EverQuote's marketing channels and expand its reach in the insurance market. Lister aims to grow EverQuote's digital presence while also investing in traditional media channels like TV and radio. The company operates an online insurance marketplace connecting consumers with providers.
EverQuote, a top online insurance marketplace, announced CEO Jayme Mendal will engage in two fireside chats. CFO John Wagner and SVP Joseph Sanborn will also conduct 1X1 investor meetings at the upcoming 23rd Annual Needham Virtual Growth Conference.
Event Details:
- Canaccord Genuity Fireside Chat: December 21, 2020, at 2:00 p.m. ET
- Needham Conference: January 11, 2021, at 10:00 a.m. ET
Both events will be available via live audio webcast on EverQuote's investor relations website.
EverQuote, Inc. (Nasdaq: EVER) announces the unexpected passing of Co-Founder and CEO Seth Birnbaum. The company deeply mourns his loss, acknowledging his leadership and impact on its success. Following this, the Board of Directors appointed President Jayme Mendal as the new CEO. Mendal, who joined EverQuote in 2017 and previously served as Chief Operating Officer, will lead the company moving forward. EverQuote remains committed to its mission of connecting consumers with insurance providers and using technology to simplify insurance.
EverQuote Announces Promotion of Jayme Mendal
EverQuote, Inc. (Nasdaq: EVER) has promoted Jayme Mendal to President, effective Nov. 10, 2020. CEO Seth Birnbaum highlighted Mendal's leadership over the past three years, emphasizing his contributions to the company’s growth strategy and team development. Mendal joined EverQuote in 2017, previously serving as Chief Operating Officer and Chief Revenue Officer. His extensive background includes roles at PowerAdvocate and Monitor Deloitte, along with an MBA from Harvard Business School, reinforcing his strategic direction at EverQuote.
EverQuote (Nasdaq: EVER) has announced the promotion of Nick Graham to Marketplace Chief Revenue Officer as of November 10, 2020. Over the past two years, Graham has proven to be a strong leader, enhancing revenue growth and reducing agent churn in the Agency business. In his new role, he will oversee all Agency and Enterprise distribution. Graham previously served as General Manager of EverQuote’s Agency business, joining the company in 2018 after working at Bain & Company. He holds degrees from MIT and Georgia Tech.
EverQuote, Inc. (Nasdaq: EVER) has announced the promotion of Jayme Mendal to President. CEO Seth Birnbaum praised Mendal's leadership over the past three years, highlighting his strategic direction in traffic, product, distribution, and innovation. Mendal, who joined EverQuote in 2017 as COO and CRO, has a background in finance and economics from Washington University and an MBA from Harvard Business School. EverQuote operates a leading online insurance marketplace, aiming to simplify and personalize insurance for consumers.
EverQuote, a leader in online insurance marketplaces, will participate in multiple investor conferences, featuring management-hosted presentations and one-on-one meetings.
The events include:
- RBC Global Technology Conference on November 17, 2020, at 10:40 a.m. ET.
- Raymond James Technology Investors Conference on December 7, 2020, at 5:00 p.m. ET.
- UBS Technology Conference on December 8, 2020, at 8:25 a.m. ET.
Live audio webcasts will be available on their investor relations website.
EverQuote reported a strong Q3 2020 with revenue increasing by 34% year-over-year to $90.0 million. Non-auto insurance revenue surged 55% to $15.2 million, marking significant growth across key verticals. The Variable Marketing Margin grew 41% to $29.4 million. Despite a GAAP net loss of $3.2 million, the company raised its full-year guidance for 2020, anticipating revenues of $340.0 - $342.0 million. The company successfully integrated with 72% of its carrier partners, enhancing customer experience.
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