EverQuote Inc
NASDAQ:EVER
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EverQuote Inc
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EverQuote Inc
EverQuote runs an online marketplace that helps people shop for auto, home, and other personal insurance. Consumers fill out quote forms on its websites, and the company matches them with insurance carriers or agents that want those leads. It is basically a lead-generation and customer-acquisition business for the insurance industry. The company makes money mainly by selling customer leads and quote opportunities to insurers and agents. Those buyers pay EverQuote when they receive a prospect or when a consumer is connected into their sales process. That means EverQuote sits in the middle of the insurance shopping process rather than acting as an insurer itself. What makes the business different is that it depends on digital marketing, data, and matching consumers with the right insurance buyer. Its customers are insurance carriers, agencies, and other distribution partners that need a steady flow of shoppers. For investors, the key idea is that EverQuote is a marketplace and marketing platform for insurance demand, not a traditional insurance company.
EverQuote runs an online marketplace that helps people shop for auto, home, and other personal insurance. Consumers fill out quote forms on its websites, and the company matches them with insurance carriers or agents that want those leads. It is basically a lead-generation and customer-acquisition business for the insurance industry.
The company makes money mainly by selling customer leads and quote opportunities to insurers and agents. Those buyers pay EverQuote when they receive a prospect or when a consumer is connected into their sales process. That means EverQuote sits in the middle of the insurance shopping process rather than acting as an insurer itself.
What makes the business different is that it depends on digital marketing, data, and matching consumers with the right insurance buyer. Its customers are insurance carriers, agencies, and other distribution partners that need a steady flow of shoppers. For investors, the key idea is that EverQuote is a marketplace and marketing platform for insurance demand, not a traditional insurance company.
Beat: EverQuote said Q1 results came in above the high end of guidance for revenue, variable marketing dollars, and adjusted EBITDA, with adjusted EBITDA reaching a record $29.3 million.
Growth: Revenue rose 15% year over year to $190.9 million, led by 13% growth in auto insurance revenue and 33% growth in home insurance revenue.
Outlook: Management guided Q2 revenue to $185 million-$195 million, VMD to $55 million-$57 million, and adjusted EBITDA to $28 million-$30 million, all pointing to continued growth.
Demand: Executives said carriers are broadly back in growth mode, with strong demand across auto and home and more carriers now participating in the marketplace auction.
AI Push: The company is accelerating investment in Agentic AI, saying it is already improving productivity internally and will increasingly support new products, traffic acquisition, and customer performance.
Capital: EverQuote ended Q1 with $178.5 million in cash and no debt, after repurchasing about 19.9 million shares in the quarter.