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Mar 31, 2022
EverQuote Q1 2022 Earnings Report
EverQuote's first quarter performance validated its strategy, achieving revenue of $110.7 million, VMM of $34.3 million, and positive Adjusted EBITDA amidst auto insurance industry headwinds.
Key Takeaways
EverQuote reported a 7% increase in total revenue to $110.7 million for Q1 2022. The company's DTCA operations grew significantly, contributing $14.8 million to the total revenue. Despite headwinds in the auto insurance industry, EverQuote achieved positive Adjusted EBITDA.
Total revenue increased by 7% year-over-year to $110.7 million.
Non-auto insurance verticals revenue grew by 19% year-over-year.
DTCA operations generated $14.8 million in revenue, representing 13% of total revenue.
GAAP net loss increased to $5.7 million, compared to a net loss of $3.8 million in the same period last year.
Forward Guidance
EverQuote anticipates for the second quarter of 2022 revenue between $92 - $97 million, Variable Marketing Margin between $24 - $27 million, and Adjusted EBITDA between ($7) - ($4) million. For the full year 2022, the company anticipates revenue between $400 - $420 million, Variable Marketing Margin between $110 - $120 million, and Adjusted EBITDA between ($15) - ($5) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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