STOCK TITAN

EverQuote (NASDAQ: EVER) Q1 revenue climbs 15% to $190.9M

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

EverQuote, Inc. reported strong first-quarter 2026 results with revenue of $190.9 million, a 15% year-over-year increase. Automotive insurance revenue was $172.4 million and home and renters revenue was $18.5 million, up 13% and 33% respectively.

Net income rose to $18.7 million from $8.0 million, while Adjusted EBITDA grew 30% to a record $29.3 million. Operating cash flow increased to $29.6 million, and the company ended the quarter with $178.5 million in cash and cash equivalents and no debt after repurchasing 1.1 million shares for $19.9 million.

For the second quarter of 2026, EverQuote guides revenue between $185.0 million and $195.0 million, representing 21% year-over-year growth at the midpoint, with expected Adjusted EBITDA of $28.0 million to $30.0 million.

Positive

  • Strong top-line growth and mix improvement: Q1 2026 revenue rose 15% year-over-year to $190.9 million, with automotive revenue up 13% to $172.4 million and home and renters revenue up 33% to $18.5 million, indicating broad-based momentum across key insurance verticals.
  • Profitability and cash flow inflection: Net income increased to $18.7 million from $8.0 million and Adjusted EBITDA grew 30% to a record $29.3 million, while operating cash flow rose to $29.6 million, demonstrating expanding margins and robust cash generation.
  • Fortified balance sheet and capital returns: Cash and cash equivalents reached $178.5 million with no outstanding debt as of March 31, 2026, and the company repurchased 1.1 million shares for approximately $19.9 million, returning capital while maintaining significant liquidity.
  • Confident forward outlook: Second quarter 2026 guidance calls for revenue of $185.0–$195.0 million and Adjusted EBITDA of $28.0–$30.0 million, implying 21% and 32% year-over-year growth at the respective midpoints and supporting management’s stated goal of $1 billion in annual revenue in 2–3 years.

Negative

  • None.

Insights

EverQuote delivers double-digit growth, margin expansion, and strong cash generation with upbeat Q2 guidance.

EverQuote grew Q1 2026 revenue to $190.9M, up 15% year-over-year, with automotive at $172.4M and home and renters at $18.5M, growing 13% and 33%. Income from operations nearly tripled to $23.4M, signaling improved unit economics and operating leverage.

GAAP net income climbed to $18.7M from $8.0M, while Adjusted EBITDA reached a record $29.3M, up 30%. Operating cash flow increased to $29.6M, and cash and cash equivalents stood at $178.5M with no debt as of March 31, 2026, even after $19.9M of share repurchases.

Management reiterates its goal of reaching $1B in annual revenue in 2–3 years and provides Q2 2026 guidance for revenue of $185.0M–$195.0M (midpoint 21% growth) and Adjusted EBITDA of $28.0M–$30.0M. Future company filings may detail progress toward this revenue target and the performance of AI-driven growth initiatives.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q1 2026 Revenue $190.9M Total revenue, 15% year-over-year growth for quarter ended March 31, 2026
Automotive revenue $172.4M Q1 2026 automotive insurance vertical revenue, up 13% year-over-year
Home and renters revenue $18.5M Q1 2026 home and renters vertical revenue, up 33% year-over-year
Q1 2026 Net income $18.7M GAAP net income for quarter ended March 31, 2026 vs $8.0M in 2025
Q1 2026 Adjusted EBITDA $29.3M Adjusted EBITDA, up 30.3% year-over-year in Q1 2026
Operating cash flow $29.6M Net cash provided by operating activities in Q1 2026
Cash balance $178.5M Cash and cash equivalents as of March 31, 2026; company has no debt
Q2 2026 revenue guidance $185.0M–$195.0M Second quarter 2026 revenue outlook, 21% year-over-year growth at midpoint
Adjusted EBITDA financial
"Drives record Adjusted EBITDA of $29.3 million, marking growth of 30% year-over-year"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Variable Marketing Dollars financial
"Variable Marketing Dollars were $55.9 million, compared to $46.9 million."
Variable marketing dollars are advertising and promotion funds that rise or fall with business activity—for example, spending that is tied to sales, customer acquisition results, or seasonal needs rather than a fixed budget. Investors care because this flexibility affects profit margins and cash flow predictability: like a thermostat that turns up heating only when it’s cold, variable marketing can help a company scale growth efficiently but can also make short-term results more volatile.
non-GAAP financial measure financial
"Adjusted EBITDA is a non-GAAP measure. Please see “EverQuote, Inc. Reconciliation of Non-GAAP Measures to GAAP” below"
A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.
Property and Casualty (P&C) insurance financial
"a leading provider of growth solutions for property and casualty, or P&C, insurance providers"
Property and casualty insurance covers losses from damage to physical assets (property) — like homes, cars or buildings — and legal liabilities for accidents or injuries (casualty). Investors care because the amount insurers collect in premiums versus the claims and legal costs they pay determines profitability and the money set aside for future losses; think of it as a household emergency fund and risk-check that affects an insurer’s earnings and stability.
forward-looking statements regulatory
"This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Revenue $190.9M +15% YoY
Net income $18.7M +133.7% YoY
Adjusted EBITDA $29.3M +30.3% YoY
Operating cash flow $29.6M increase vs. $23.3M prior year quarter
Guidance

For Q2 2026, EverQuote guides revenue of $185.0–$195.0 million (21% year-over-year growth at midpoint), Variable Marketing Dollars of $55.0–$57.0 million (23% growth at midpoint), and Adjusted EBITDA of $28.0–$30.0 million (32% growth at midpoint).

false000164042800016404282026-05-042026-05-04

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 04, 2026

 

 

EverQuote, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-38549

26-3101161

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

141 Portland Street

 

Cambridge, Massachusetts

 

02139

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (855) 522-3444

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Class A Common Stock, $0.001 par value per share

 

EVER

 

The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


Item 2.02 Results of Operations and Financial Condition.

On May 4, 2026, EverQuote, Inc. (the “Company”) issued a press release reporting financial results for the fiscal quarter ended March 31, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in Item 2.02 in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 7.01 Regulation FD Disclosure.

On May 4, 2026, the Company posted an investor presentation to its website (investors.everquote.com). A copy of the investor presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

The information contained in Item 7.01 in this Current Report on Form 8-K (including Exhibit 99.2) shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

EXHIBIT INDEX

Exhibit No.

Description

99.1

Press release dated May 4, 2026

99.2

Investor Presentation dated May 4, 2026

 104

Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

EVERQUOTE, INC.

 

 

 

 

Date:

May 4, 2026

By:

/s/ Jon Ayotte

 

 

 

Jon Ayotte
Chief Accounting Officer

 


Exhibit 99.1

EverQuote Announces First Quarter 2026 Financial Results

Grows Q1 revenue 15% year-over-year to $190.9 million
Delivers net income of $18.7 million
Drives record Adjusted EBITDA of $29.3 million, marking growth of 30% year-over-year
Exceeds guidance across all metrics
Provides Q2 outlook reflecting 21% revenue growth at the midpoint

 

CAMBRIDGE, Mass., May 4, 2026 -- EverQuote, Inc. (Nasdaq: EVER), a leading provider of growth solutions for property and casualty, or P&C, insurance providers, today announced financial results for the first quarter ended March 31, 2026.

 

“Our first quarter results demonstrate our strong performance and favorable sector demand as we execute our mission to empower P&C insurance providers to grow market share by maximizing customer acquisition across digital channels,” said Jayme Mendal, CEO of EverQuote. “As we look to the remainder of the year, we see significant opportunities to build on our AI heritage to bring new, incremental value to customers and expand our long-term growth opportunities.”

 

First Quarter 2026 Highlights:

(Unless otherwise noted, all comparisons are relative to the first quarter of 2025).

Total revenue grew 15% to $190.9 million. Revenue from the Company’s automotive insurance vertical was $172.4 million and revenue from the home and renters insurance vertical was $18.5 million, marking growth of 13% and 33%, respectively.
Variable Marketing Dollars were $55.9 million, compared to $46.9 million.
GAAP net income increased to $18.7 million, compared to $8.0 million.
Adjusted EBITDA grew 30% to $29.3 million, compared to $22.5 million.
Operating cash flow increased to $29.6 million, compared to $23.3 million.
The Company ended the first quarter 2026 with $178.5 million in cash and cash equivalents and no outstanding debt.
During the quarter, the Company repurchased 1.1 million shares of its common stock for approximately $19.9 million.

 

“We reported an impressive first quarter with strong revenue growth, record levels of Adjusted EBITDA and record operating cash flow. Our AI-powered solutions are enabling us to continue to drive greater value for carriers and agents while delivering operational leverage and efficiency,” said Joseph Sanborn, CFO and Chief Administrative Officer of EverQuote. “We remain committed to our previously-stated goal of achieving $1 billion in annual revenues in 2-3 years with ongoing strong cash flow generation and year-on-year Adjusted EBITDA growth. At the same time, we are investing in our AI and growth initiatives to propel the business long-term.”

 

Second Quarter 2026 Outlook:

Revenue of $185.0 – $195.0 million, representing 21% year-over-year growth at the midpoint.
Variable Marketing Dollars of $55.0 – $57.0 million, representing 23% year-over-year growth at the midpoint.
Adjusted EBITDA of $28.0 – $30.0 million, representing 32% year-over-year growth at the midpoint.

 

With respect to the Company’s expectations under “Second Quarter 2026 Outlook” above, the Company has not reconciled the non-GAAP measure Adjusted EBITDA to the GAAP measure net income (loss) in this press release because the Company does not provide guidance for stock-based compensation expense, depreciation and amortization expense, legal settlement expense, interest income, and income taxes on a consistent basis as the Company is unable to quantify these amounts without unreasonable efforts, which would be required to include a


 

reconciliation of Adjusted EBITDA to GAAP net income (loss). In addition, the Company believes such a reconciliation would imply a degree of precision that could be confusing or misleading to investors.

Conference Call and Webcast Information

EverQuote will host a conference call and live webcast to discuss its first quarter 2026 financial results at 4:30 p.m. Eastern Time today, May 4, 2026 and supporting slides will be available at https://investors.everquote.com. To access the conference call, dial Toll Free: +1 (800) 715-9871 for the US, or +1 (646) 307-1963 for international callers, and provide conference ID 161347139. The live webcast and replay will be available on the Investors section of the Company’s website at https://investors.everquote.com.

Safe Harbor Statement

This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, including our plans to invest in new artificial intelligence, or AI, products and platforms both internally and externally, and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “aim,” “may,” “should,” “expects,” “might,” “plans,” “anticipates,” “could,” “intends,” “goals,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “seek,” “will,” “would” or “continues,” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, liquidity and results of operations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. These forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ include, without limitation, the following: (1) our dependence on revenue from the property and casualty, or P&C, insurance industries, and specifically automotive insurance, and exposure to risks related to those industries; (2) our dependence on our relationships with insurance providers with no long-term minimum financial commitments and furthermore, our reliance on a small number of insurance providers for a significant portion of our revenue; (3) adverse conditions in the insurance markets, as well as the general economy; (4) our dependence on third-party media sources for a significant portion of visitors to our websites and marketplace; (5) our ability to attract consumers to our websites and marketplace; (6) our ability to market to consumers or collect, share and use data derived from consumer activities; (7) risks related to cybersecurity incidents or other network disruptions; (8) risks related to the use of AI; (9) our ability to develop new and enhanced products and services and to successfully monetize them; (10) the impact of competition in our industry and innovation by our competitors; (11) our ability to stay abreast of and comply with new or modified laws and regulations that currently apply or become applicable to our business, including with respect to the insurance industry, telemarketing restrictions and data privacy requirements; and (12) our ability to protect our intellectual property rights and maintain and build our brand. A further list and description of risks, uncertainties and assumptions that could cause or contribute to differences in our future results include the cautionary statements described in Part I,


 

Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025 and in our subsequent periodic filings with the Securities and Exchange Commission. We qualify all of our forward-looking statements by these cautionary statements.

 

About EverQuote

EverQuote (Nasdaq: EVER) is a leading AI-powered growth solutions partner for regulated property and casualty insurance entities, enabling the largest insurance carriers and thousands of agents to maximize customer acquisition across digital channels. Fueled by our proprietary data assets and our AI traffic engine, EverQuote is transforming the way providers attract and engage consumers to grow market share. To learn more visit investors.everquote.com.

Investor Relations Contact

 

Sara Buda

EverQuote

sara.buda@everquote.com

 


 

EVERQUOTE, INC.

STATEMENTS OF OPERATIONS

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands except per share)

 

Revenue

 

$

190,852

 

 

$

166,632

 

Cost and operating expenses(1):

 

 

 

 

 

 

Cost of revenue

 

 

4,265

 

 

 

5,380

 

Sales and marketing

 

 

145,412

 

 

 

129,430

 

Research and development

 

 

8,548

 

 

 

7,485

 

General and administrative

 

 

9,211

 

 

 

8,440

 

Legal settlement

 

 

 

 

 

7,900

 

Total cost and operating expenses

 

 

167,436

 

 

 

158,635

 

Income from operations

 

 

23,416

 

 

 

7,997

 

Other income (expense):

 

 

 

 

 

 

Interest income

 

 

961

 

 

 

708

 

Other income (expense), net

 

 

(13

)

 

 

(31

)

Total other income, net

 

 

948

 

 

 

677

 

Income before income taxes

 

 

24,364

 

 

 

8,674

 

Income tax expense

 

 

(5,691

)

 

 

(684

)

Net income

 

$

18,673

 

 

$

7,990

 

Net income per share:

 

 

 

 

 

 

Basic

 

$

0.52

 

 

$

0.22

 

Diluted

 

$

0.51

 

 

$

0.21

 

Weighted average common shares outstanding, basic and diluted:

 

 

 

 

 

 

Basic

 

 

35,947

 

 

 

35,879

 

Diluted

 

 

36,942

 

 

 

37,667

 

 

 

 

 

 

 

 

(1) Amounts include stock-based compensation expense, as follows:

 

 

 

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Cost of revenue

 

$

30

 

 

$

9

 

Sales and marketing

 

 

1,280

 

 

 

1,565

 

Research and development

 

 

1,434

 

 

 

1,370

 

General and administrative

 

 

2,397

 

 

 

2,476

 

 

$

5,141

 

 

$

5,420

 

 

EVERQUOTE, INC.

BALANCE SHEET DATA

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Cash and cash equivalents

 

$

178,492

 

 

$

171,379

 

Working capital

 

 

175,211

 

 

 

169,067

 

Total assets

 

 

323,972

 

 

 

326,913

 

Total liabilities

 

 

83,105

 

 

 

88,873

 

Total stockholders' equity

 

 

240,867

 

 

 

238,040

 

 


 

EVERQUOTE, INC.

STATEMENTS OF CASH FLOWS

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Cash flows from operating activities:

 

 

 

 

 

 

Net income

 

$

18,673

 

 

$

7,990

 

Adjustments to reconcile net income to net cash
   provided by operating activities:

 

 

 

 

 

 

Depreciation and amortization expense

 

 

785

 

 

 

1,221

 

Stock-based compensation expense

 

 

5,141

 

 

 

5,420

 

Deferred taxes

 

 

4,084

 

 

 

 

Unrealized foreign currency transaction (gains) losses

 

 

(34

)

 

 

35

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable

 

 

3,366

 

 

 

(457

)

Prepaid expenses and other current assets

 

 

2,966

 

 

 

496

 

Commissions receivable, current and non-current

 

 

 

 

 

1,014

 

Operating lease right-of-use assets

 

 

298

 

 

 

267

 

Accounts payable

 

 

(8,598

)

 

 

(2,765

)

Accrued expenses and other current liabilities

 

 

3,111

 

 

 

10,018

 

Deferred revenue

 

 

111

 

 

 

335

 

Operating lease liabilities

 

 

(305

)

 

 

(268

)

Net cash provided by operating activities

 

 

29,598

 

 

 

23,306

 

Cash flows from investing activities:

 

 

 

 

 

 

Acquisition of property and equipment, including costs capitalized
   for development of internal-use software

 

 

(1,535

)

 

 

(1,133

)

Net cash used in investing activities

 

 

(1,535

)

 

 

(1,133

)

Cash flows from financing activities:

 

 

 

 

 

 

Proceeds from exercise of stock options

 

 

63

 

 

 

1,962

 

Repurchase of common stock

 

 

(19,851

)

 

 

 

Tax withholding payments related to net share settlement

 

 

(1,147

)

 

 

(1,293

)

Net cash provided by (used in) financing activities

 

 

(20,935

)

 

 

669

 

Effect of exchange rate changes on cash, cash equivalents
   and restricted cash

 

 

(15

)

 

 

10

 

Net increase in cash, cash equivalents and restricted cash

 

 

7,113

 

 

 

22,852

 

Cash, cash equivalents and restricted cash at beginning
   of period

 

 

171,379

 

 

 

102,116

 

Cash, cash equivalents and restricted cash at end
   of period

 

$

178,492

 

 

$

124,968

 

 


 

EVERQUOTE, INC.

FINANCIAL AND OPERATING METRICS

Revenue by vertical:

 

 

Three Months Ended March 31,

 

 

Change

 

 

 

2026

 

 

2025

 

 

%

 

 

 

(in thousands)

 

 

 

 

Automotive

 

$

172,386

 

 

$

152,715

 

 

 

12.9

%

Home and renters

 

 

18,466

 

 

 

13,904

 

 

 

32.8

%

Other

 

 

 

 

 

13

 

 

 

-100.0

%

Total revenue

 

$

190,852

 

 

$

166,632

 

 

 

14.5

%

Other financial and non-financial metrics:

 

 

Three Months Ended March 31,

 

 

Change

 

 

 

2026

 

 

2025

 

 

%

 

 

 

(in thousands)

 

 

 

 

Income from operations

 

$

23,416

 

 

$

7,997

 

 

 

192.8

%

Net income

 

$

18,673

 

 

$

7,990

 

 

 

133.7

%

Variable marketing dollars

 

$

55,898

 

 

$

46,860

 

 

 

19.3

%

Adjusted EBITDA(1)

 

$

29,329

 

 

$

22,507

 

 

 

30.3

%

(1) Adjusted EBITDA is a non-GAAP measure. Please see “EverQuote, Inc. Reconciliation of Non-GAAP Measures to GAAP” below for more information.

To supplement the Company’s financial statements presented in accordance with GAAP and to provide investors with additional information regarding EverQuote’s financial results, the Company has presented Adjusted EBITDA as a non-GAAP financial measure. This non-GAAP financial measure is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similarly titled measures presented by other companies.

The Company defines Adjusted EBITDA as net income (loss), excluding the impact of stock-based compensation expense; depreciation and amortization expense; legal settlement expense; interest income; and income taxes. The most directly comparable GAAP measure is net income (loss). The Company monitors and presents Adjusted EBITDA because it is a key measure used by management and the board of directors to understand and evaluate operating performance, to establish budgets and to develop operational goals for managing EverQuote’s business. In particular, the Company believes that excluding the impact of these items in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of EverQuote’s core operating performance.

The Company uses Adjusted EBITDA to evaluate EverQuote’s operating performance and trends and make planning decisions. The Company believes that this non-GAAP financial measure helps identify underlying trends in EverQuote’s business that could otherwise be masked by the effect of the items that the Company excludes in the calculations of Adjusted EBITDA. Accordingly, the Company believes that this financial measure provides useful information to investors and others in understanding and evaluating EverQuote’s operating results, enhancing the overall understanding of the Company’s past performance and future prospects.

The Company’s non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA rather than net income (loss), which is the most directly comparable financial measure calculated and presented in accordance with GAAP. In addition, other companies may use other measures to evaluate their performance, which could reduce the usefulness of the Company’s non-GAAP financial measures as tools for comparison.


 

The following table reconciles Adjusted EBITDA to net income (loss), the most directly comparable financial measure calculated and presented in accordance with GAAP:

EVERQUOTE, INC.

RECONCILIATION OF NON-GAAP MEASURES TO GAAP

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Net income

 

$

18,673

 

 

$

7,990

 

Stock-based compensation

 

 

5,141

 

 

 

5,420

 

Depreciation and amortization

 

 

785

 

 

 

1,221

 

Legal settlement

 

 

 

 

 

7,900

 

Interest income

 

 

(961

)

 

 

(708

)

Income taxes

 

 

5,691

 

 

 

684

 

Adjusted EBITDA

 

$

29,329

 

 

$

22,507

 

 


Slide 1

Investor Presentation May 2026 Exhibit 99.2


Slide 2

Safe Harbor This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans, and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “aim,” “may,” “should,” “expects,” “might,” “plans,” “anticipates,” “could,” “intends,” “goals,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “seek,” “will,” “would” or “continues,” or the negative of these terms or other similar expressions. The forward-looking statements in this presentation are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, liquidity and results of operations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. These forward-looking statements speak only as of the date of this presentation, and except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, or otherwise. We are subject to a number of risks, uncertainties and assumptions as described in our annual report on Form 10-K and our subsequent filings with the Securities and Exchange Commission. We qualify all of our forward-looking statements by these cautionary statements. The Company’s presentation also contains estimates, projections, & other information concerning the Company’s industry, the Company’s business & the markets for certain of the Company’s products & services, including data regarding the estimated size of those markets. The information concerning our industry contained in this presentation is based on our general knowledge of and expectations concerning the industry. The Company’s market position, market share and industry market size are based on estimates using our internal data and estimates, data from various industry analyses, our internal research and adjustments and assumptions that we believe to be reasonable. Information that is based on estimates, forecasts, projections, market research, or similar methodologies is inherently subject to uncertainties & actual events or circumstances may differ materially from events & circumstances reflected in this information. Unless otherwise expressly stated, the Company obtained this industry, business, market & other data from reports, research surveys, studies & similar data prepared by market research firms & other third parties, from industry, general publications, & from government data & similar sources. We have not independently verified data from these sources and cannot guarantee their accuracy or completeness.


Slide 3

We empower the largest Property & Casualty (P&C) insurance carriers and thousands of agents to grow market share by maximizing customer acquisition across digital channels. Our Mission


Slide 4

Source: S&P CapIQ, 2025 Also referred to as 3rd party agent network Source: estimated using Company data as of December 31, 2025 EverQuote Snapshot Market leader serving a large, growing sector A trusted partner for Property and Casualty insurance providers seeking to grow policies in force Differentiated proprietary data and AI A foundational AI delivery model that enables highly precise, hyper-targeted customer acquisition across digital channels Deep, long-standing customer relationships Differentiated distribution network of regulated national and regional carriers and local agents $693M 13.7% $95M $171M 7 of the top 10(1) 5,000+ 4.5B+ 2025 Revenue 38% Growth 2025 Adjusted EBITDA 200+bps Increase 2025 Operating Cash Flow 57% Growth YE 2025 Cash Balance No Debt Largest P&C insurance carriers in the US Local agents nationwide (2) Proprietary consumer submitted data points since inception(3)


Slide 5

Our TAM: Large and Growing CURRENT GROWTH DRIVERS Increased carrier focus on growing policies in force Shift of advertising spend to online customer acquisition channels Consumer adoption of AI adds new sources of high-intent traffic $129B P&C Distribution and Advertising Spend Market(1) $8B P&C Digital Advertising Spend(1) U.S. P&C Insurance Market: Distribution and Advertising Spend Sources: S&P Global Market Intelligence, Insider Intelligence, and Company’s own estimates - includes commissions and advertising spend


Slide 6

ORIGINATION “Right-target, right-price bids for desired shoppers CONVERSION & DISTRIBUTION TARGETING & BIDDING What we do: Drive High-Intent Consumers to P&C Insurers Consumer history Location Demographics Insurance history Underwriting preferences Profitability targets State regulatory variations LTV analysis Predictive modeling Carriers & Agents Filter out “non-target” shoppers Facebook Instagram TikTok Criteo Taboola Media Go YouTube MSN google AI Traffic Engine Proprietary Data


Slide 7

Regulated Carrier and agent models are governed by regulations that vary greatly across each of the 50 states The Market We Serve: Regulated and Complex Opaque Major carriers invest heavily in their brand and seek to avoid “race to the bottom” transparent pricing models Targeted Carriers are highly specific in their target customer profile based on each carrier’s LTV/CAC methodology Dynamic Carriers adapt their preferences over time based on changing underwriting preferences


Slide 8

Our Tailwinds: Carriers are Focused on Growth as Combined Ratios Decline “We have continued to leverage our scale in identifying new opportunities to refine where and how we invest our marketing spend to drive profitable growth”…“We’ll always try to grow as fast as we can at a 96% [combined ratio].” “Our auto book of business is now broadly profitable, including in previously profit-challenged markets like California, New York, and New Jersey, and we are focused on investing profitably growing auto market share.” Recent Carrier Commentary “Since the end of 2024, we have continued to ramp up marketing spend, particularly in targeted geographies to be more focused and aggressive. While negatively impacting our expense ratio, this approach has led to nearly double the personal lines new business volume produced in the prior year quarter.” P&C Combined Ratio(1) Source: S&P CapIQ


Slide 9

Marketplace Our AI Opportunity Today: Unlocking Value in our Marketplace Transforming online acquisition while preserving carriers’ rate opacity, brand integrity and underwriting preferences More traffic As LLMs become a new channel of high-intent buyers Higher conversion rates As personalization drives better matching Greater bind performance As precise targeting improves consumer-carrier alignment Larger budget share As intelligent bidding optimizes clients’ cost per acquisition


Slide 10

Our Growth Strategy: Path to $1B+ of Annual Revenue Proprietary data, applied AI, and consultative partnerships to optimize each step of the EverQuote funnel Bidding SmartCampaigns Deep Partnership Better Performing 1 Higher performance relative to other partners and channels yielding higher bids & budgets, fueling more traffic scale Provider Budget Growth Existing Traffic Growth New Channel Expansion Bigger Scale 2 Marketplace performance and scale earns opportunity to expand into more digital products and services AI-Enabled Solutions New Products P&C Adjacent Verticals Broader Services 3 Efficiently 4 Investing in automation and intentional design to sustainably scale our teams and systems with increasing leverage Platform Simplification and Alignment Automation and AI * As stated in the Company’s Q3 earnings call on November 3, 2025


Slide 11

Summary: Why Invest Market leader serving a high-growth sector Deep, long-standing customer relationships Growing, profitable business model with strong cash generation Differentiated, proprietary data and AI AI opportunity for ongoing revenue growth and profit expansion


Slide 12

Q1 Summary and Financial Highlights


Slide 13

Grew revenue 15% year-over-year Increased net income to $18.7 million Drove 30% Adjusted EBITDA growth year-over-year Generated record operating cash flow of $29.6 million Exceeded guidance across all metrics Q1 Summary $191M Revenue $29.3M Adjusted EBITDA $178M Cash No Outstanding Debt See Appendix for Non-GAAP definitions and reconciliations


Slide 14

Q1 2026 Results $m Q1 2025 Q1 2026 YoY Growth % Revenue $166.6 $190.9 15% Variable Marketing Dollars $46.9 $55.9 19% Adjusted EBITDA $22.5 $29.3 30% Adjusted EBITDA Margin % 13.5% 15.4% 1.9% pts. YoY Comparison Quarterly Revenue ($m) Quarterly Variable Marketing Dollars ($m) Quarterly Adjusted EBITDA ($m) See Appendix for Non-GAAP definitions and reconciliations


Slide 15

Driving Growth and Expanding Profitability Since IPO Revenue ($m) Variable Marketing Dollars ($m) Adjusted EBITDA ($m) Operating Cash Flow ($m) *Note: 2022 and 2023 were impacted by the auto insurance market downturn which began in the late summer of 2021. In June 2023 the Company also exited the heath insurance vertical. The health insurance vertical revenue was: $29.7m in 2021, $38.7m in 2022, and $15.0m in 2023. See Appendix for Non-GAAP definitions and reconciliations CAGR 2018 - 2025: ~23% CAGR 2018 - 2025: ~23% * *


Slide 16

NASDAQ: EVER investors.everquote.com


Slide 17

Appendix


Slide 18

Key Metrics Definitions Variable Marketing Dollars & Margin We define variable marketing dollars, or VMD, as revenue, as reported in our consolidated statements of operations and comprehensive income (loss), less advertising costs (a component of sales and marketing expense, as reported in our consolidated statements of operations and comprehensive income (loss)). We define variable marketing margin, or VMM, as VMD divided by revenue. We use VMD and VMM to measure the efficiency of individual advertising and consumer acquisition sources and to make trade-off decisions to manage our return on advertising. We do not use VMD or VMM as a measure of profitability. Adjusted EBITDA We define Adjusted EBITDA as net income (loss), adjusted to exclude: stock-based compensation expense, depreciation and amortization expense, restructuring and other charges, acquisition-related costs, legal settlement expense, one-time severance charges, interest income and the provision for (benefit from) income taxes. We monitor & present Adjusted EBITDA because it is a key measure used by our management & board of directors to understand & evaluate our operating performance, to establish budgets & to develop operational goals for managing our business. In particular, the Company believes that excluding the impact of these items in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of EverQuote’s core operating performance. The Company uses Adjusted EBITDA to evaluate EverQuote’s operating performance and trends and make planning decisions. The Company believes that this non-GAAP financial measure helps identify underlying trends in EverQuote’s business that could otherwise be masked by the effect of the items that the Company excludes in the calculations of Adjusted EBITDA. Accordingly, the Company believes that this financial measure provides useful information to investors and others in understanding and evaluating EverQuote’s operating results, enhancing the overall understanding of the Company’s past performance and future prospects To supplement our consolidated financial statements presented in accordance with generally accepted accounting principles (“GAAP”), this presentation contains certain non-GAAP financial measures, including Variable Marketing Dollars and Margin and Adjusted EBITDA. We use these measures to provide investors with additional information regarding our financial results.


Slide 19

Reconciliation of Adjusted EBITDA - 12 Months Ended 12 Months Ended December 31, 2025 December 31, 2024 December 31, 2023 December 31, 2022 December 31, 2021 December 31, 2020 Net Income (Loss) $99,311 $32,169 ($51,287) ($24,416) ($19,434) ($11,202) Stock-based compensation $24,299 $20,614 $22,808 $28,986 $30,020 $24,179 Depreciation & amortization $3,811 $5,672 $6,196 $5,848 $5,072 $3,350 Legal settlement $8,232 - - - - - Acquisition-related costs/earnout - - ($150) ($4,135) $1,065 $2,258 Restructuring and Other Charges - - $23,568 - $440 - Interest (income) expense, net ($3,574) ($2,079) ($1,251) ($349) ($37) ($189) Provision for (benefit from) income taxes ($37,488) $1,839 $577 - ($2,510) - Adjusted EBITDA $94,591 $58,215 $461 $5,934 $14,616 $18,396


Slide 20

Reconciliation of Adjusted EBITDA - 3 Months Ended 3 Months Ended March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Net Income (Loss) $18,673 $57,755 $18,865 $14,701 $7,990 Stock-based compensation $5,141 $5,591 $6,728 $6,560 $5,420 Depreciation & amortization $785 $861 $811 $918 $1,221 Legal settlement - - - $332 $7,900 Acquisition-related costs/earnout - - - - - Restructuring and Other Charges - - - - - Interest (income) expense, net ($961) ($956) ($992) ($918) ($708) Provision for (benefit from) income taxes $5,691 ($38,190) ($345) $363 $684 Adjusted EBITDA $29,329 $25,061 $25,067 $21,956 $22,507

FAQ

How did EverQuote (EVER) perform financially in Q1 2026?

EverQuote delivered strong Q1 2026 results, with revenue of $190.9 million, up 15% year-over-year. Net income increased to $18.7 million from $8.0 million, and Adjusted EBITDA reached a record $29.3 million, reflecting improved profitability and operating leverage.

How profitable was EverQuote (EVER) in Q1 2026?

EverQuote’s income from operations rose to $23.4 million in Q1 2026, up from $8.0 million a year earlier. Net income reached $18.7 million, and Adjusted EBITDA increased to $29.3 million, a 30.3% year-over-year gain, highlighting significant margin expansion.

What is EverQuote (EVER) guiding for Q2 2026 revenue and EBITDA?

For Q2 2026, EverQuote expects revenue of $185.0–$195.0 million, implying 21% year-over-year growth at the midpoint. The company also projects Adjusted EBITDA of $28.0–$30.0 million, representing 32% year-over-year growth at the midpoint, indicating continued profitable expansion.

What does EverQuote’s (EVER) balance sheet look like after Q1 2026?

As of March 31, 2026, EverQuote held $178.5 million in cash and cash equivalents and reported no outstanding debt. Total stockholders’ equity was $240.9 million, providing a solid financial foundation alongside strong operating cash flow generation during the quarter.

Did EverQuote (EVER) return capital to shareholders in Q1 2026?

Yes. During Q1 2026, EverQuote repurchased 1.1 million shares of its common stock for approximately $19.9 million. This capital return occurred while the company maintained $178.5 million in cash and cash equivalents and continued to produce strong operating cash flow.

What long-term revenue target has EverQuote (EVER) reiterated?

EverQuote’s management reiterated a goal of achieving $1 billion in annual revenue within 2–3 years. They aim to reach this through AI-powered growth solutions, expanding customer acquisition across digital channels, and sustaining strong cash flow and year-over-year Adjusted EBITDA growth.

Filing Exhibits & Attachments

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