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Jun 30, 2024
EverQuote Q2 2024 Earnings Report
Achieved record results driven by revenue growth and improved profitability.
Key Takeaways
EverQuote reported record second-quarter results, with revenue growing 72% year-over-year to $117.1 million. The company delivered net income of $6.4 million and Adjusted EBITDA of $12.9 million, driven by the auto insurance recovery and disciplined expense management.
Total revenue increased by 72% year-over-year to $117.1 million.
Automotive insurance vertical revenue grew by over 106%, representing 88% of total revenue.
Net income improved to $6.4 million, compared to a net loss of $13.2 million in the same quarter last year.
Cash and cash equivalents ended the quarter at $60.9 million, a 25% increase from the previous quarter.
Revenue by Segment
Forward Guidance
EverQuote anticipates continued growth and profitability in the third quarter of 2024.
Positive Outlook
- Revenue is projected to be between $137.0 - $143.0 million.
- Variable Marketing Margin is expected to be $38.5 - $41.5 million.
- Adjusted EBITDA is forecasted to be $14.0 - $17.0 million.
- Company plans to judiciously invest in opportunities to position the company for long-term success.
- The auto insurance recovery continues to progress.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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