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EverQuote, Inc. reports developments for an AI-powered growth solutions business serving regulated property and casualty insurance providers. The company operates an online insurance marketplace that connects consumers shopping for insurance with carrier and agent customers, using proprietary data assets, a technology platform and an AI traffic engine to support digital customer acquisition.
Recurring updates include quarterly and annual financial results, revenue and profitability metrics, operating cash flow, business outlook, investor conference presentations and commentary on automation, AI capabilities, new products and data science within its insurance-provider marketplace.
EverQuote, Inc. (Nasdaq: EVER) announces the appointment of Mike Connolly as Senior Vice President of Agency Sales and Customer Success. Connolly, a seasoned sales leader with experience at CarGurus, Experian, and Windstream, aims to enhance support for insurance agents as online shopping for insurance grows. COO Jayme Mendal emphasized Connolly's data-driven approach, which aligns with EverQuote's culture and objectives. The press release highlights the company's forward-looking plans, acknowledging the potential risks involved, including competition and market dynamics.
EverQuote announced a strong first quarter for 2020, reporting revenue of $81.4 million, a 56% increase year-over-year, and a variable marketing margin of $23.8 million, up 72%. The company raised its full-year guidance, anticipating revenue between $318.0 - $327.0 million. Adjusted EBITDA improved to $3.8 million from a prior loss, while quote requests surged 80%. Despite a net loss of $1.4 million, EverQuote remains confident in its growth trajectory, citing the shift to online insurance amid the COVID-19 pandemic.