Strong P&C Insurance Vertical Growth
Transaction value in the P&C insurance vertical grew 71% year-over-year, driven by increased marketing investments from leading auto insurance carriers.
Record Transaction Value Expectations
For Q3, the company expects transaction value to be between $545 million and $570 million, representing a year-over-year increase of 23% at the midpoint.
Positive Financial Guidance
Revenue for Q3 is expected to be between $270 million and $290 million, representing a year-over-year increase of 8% at the midpoint. Adjusted EBITDA is expected to increase by 1% year-over-year at the midpoint.
Cash Flow and Financial Flexibility
The company generated $22 million of cash in Q2, ending the quarter with $85 million of cash and a net debt to adjusted EBITDA ratio of 0.6x.
Extension of Credit Facility Maturity
The company extended the maturity of $142.6 million of debt by 1 year through July 2027, with the remaining $14 million maturing in July 2026.