Everquote ( (EVER) ) has released its Q1 earnings. Here is a breakdown of the information Everquote presented to its investors.
EverQuote, Inc. operates as a leading online marketplace for insurance shopping, connecting consumers with insurance providers, including carriers and agents, primarily in the property and casualty insurance sector. The company leverages its proprietary data and technology platform to enhance the insurance shopping experience.
In its first quarter of 2025, EverQuote reported significant financial growth, highlighted by an 83% increase in revenue year-over-year, reaching $166.6 million. The company also achieved a net income of $8.0 million and a record adjusted EBITDA of $22.5 million, marking its fourth consecutive quarter of record performance.
Key financial metrics for the quarter include a 97% increase in automotive insurance vertical revenue to $152.7 million and a 10% rise in home and renters insurance vertical revenue to $13.9 million. The company’s variable marketing dollars grew by 52% to $46.9 million, and it ended the quarter with $125.0 million in cash and cash equivalents, a 22% increase from the previous quarter.
Looking ahead, EverQuote projects continued growth in the second quarter of 2025, with expected revenue between $155.0 million and $160.0 million and adjusted EBITDA between $20.0 million and $22.0 million. The company remains optimistic about the shift in insurance advertising spend towards digital channels, positioning itself as a key growth partner for insurance providers.
With a strong cash position and no debt, EverQuote is well-positioned to capitalize on favorable market conditions and continue its trajectory of growth, driven by its scale, technology, and strategic focus on expanding its competitive edge in the insurance marketplace.