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Mar 31, 2020
EverQuote Q1 2020 Earnings Report
Reported a strong first quarter with revenue growth and increased quote request volume.
Key Takeaways
EverQuote reported a 56% increase in revenue to $81.4 million, driven by an 80% increase in quote request volume. The company's variable marketing margin increased by 72% year-over-year, and they raised their full-year 2020 guidance.
Total revenue increased by 56% year-over-year to $81.4 million.
Automotive insurance vertical revenue increased by 50% to $67.6 million.
Revenue from other insurance verticals increased by 90% to $13.7 million.
Variable Marketing Margin increased by 72% to $23.8 million.
Revenue by Segment
Forward Guidance
EverQuote anticipates Revenue, Variable Marketing Margin and Adjusted EBITDA to be in the following ranges:
Positive Outlook
- Second quarter 2020 Revenue of $77.0 - $80.0 million.
- Second quarter 2020 Variable Marketing Margin of $23.5 - $25.0 million.
- Second quarter 2020 Adjusted EBITDA in the range of $3.0 - $4.3 million.
- Full year 2020 Revenue of $318.0 - $327.0 million, an increase from our previous range of $315.0 - $325.0 million.
- Full year 2020 Variable Marketing Margin of $96.0 - $102.0 million, an increase from our previous range of $92.0 - $98.0 million.
Challenges Ahead
- Full year 2020 Adjusted EBITDA in the range of $12.5 - $17.5 million, an improvement from our previous range of $10.0 - $15.0 million.
- The Company has not reconciled the non-GAAP measure adjusted EBITDA to the GAAP measure net loss in this press release.
- The Company does not provide guidance for stock-based compensation expense, depreciation and amortization expense, interest income and expense, and the provision for (benefit from) income taxes on a consistent basis
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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