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Sep 30, 2020
EverQuote Q3 2020 Earnings Report
EverQuote reported a strong third quarter, marked by significant revenue growth and margin expansion.
Key Takeaways
EverQuote announced a 34% year-over-year increase in total revenue, reaching $90.0 million, and a 55% increase in non-auto insurance revenue. The company's Variable Market Margin expanded to a record 33% of total revenue, and they raised their full-year 2020 guidance.
Total revenue increased by 34% year-over-year to $90.0 million.
Non-auto insurance revenue grew by 55% year-over-year to $15.2 million.
Variable Marketing Margin (VMM) expanded to 33% of total revenue.
The company completed the acquisition of Crosspointe Insurance & Financial Services, LLC on September 1, 2020.
Revenue by Segment
Forward Guidance
EverQuote anticipates revenue between $90.4 - $92.4 million, Variable Marketing Margin of $29.3 - $30.3 million, and Adjusted EBITDA in the range of $4.0 - $5.0 million for Q4 2020.
Positive Outlook
- Revenue of $90.4 - $92.4 million is expected.
- Variable Marketing Margin of $29.3 - $30.3 million is anticipated.
- Adjusted EBITDA is projected to be in the range of $4.0 - $5.0 million.
- Full year revenue is expected to be $340.0 - $342.0 million.
- Full year Variable Marketing Margin is expected to be $106.0 - $107.0 million.
Challenges Ahead
- The company has not reconciled the non-GAAP measure Adjusted EBITDA to the GAAP measure net loss.
- Guidance does not include stock-based compensation expense.
- Guidance does not include depreciation and amortization expense.
- Guidance does not include acquisition-related costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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