Business
EverQuote Announces First Quarter 2025 Financial Results
First Quarter Revenue Growth of 83% Year-Over-Year to $166.6 millionFirst Quarter Variable Marketing Dollars Increase of 52% Year-Over-Year to $46.9
About this update from Everquote, Inc.
[{"type":"text","content":"First Quarter Revenue Growth of 83% Year-Over-Year to $166.6 millionFirst Quarter Variable Marketing Dollars Increase of 52% Year-Over-Year to $46.9 millionDelivers First Quarter Net Income of $8.0 million and Record Adjusted EBITDA of $22.5 million CAMBRIDGE, Mass., May 05, 2025 (GLOBE NEWSWIRE) -- EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced financial results for the first quarter ended March 31, 2025. “2025 is off to a strong start, building on our momentum from last year, and we once again achieved record financial performance across our key financial metrics of revenue, Variable Marketing Dollars or VMD and Adjusted EBITDA,” said Jayme Mendal, CEO of EverQuote. “Our scale and technology are enabling us to build a competitive moat and leverage a data advantage as we extend AI throughout our traffic and distribution systems. We are delivering strong performance to carriers and agents, and they are rewarding us with increased budgets, which supports continued traffic growth. We remain steadfast in our focus to become the leading growth partner for P&C insurance providers.” “The first quarter marks our fourth consecutive quarter of record revenue and Adjusted EBITDA performance, and we ended the quarter with a strong cash position and no debt outstanding,” said Joseph Sanborn, CFO of EverQuote. “EverQuote remains resilient to macro conditions and is well positioned for continued success as a broad number of carriers are benefiting from healthy combined ratios and are focusing on driving policy growth. Given this favorable environment, we believe that the long-term thesis of insurance advertising spend shifting to digital channels remains firmly intact.” First Quarter 2025 Highlights:(Unless otherwise noted, all comparisons are relative to the first quarter of 2024). Total revenue grew 83% to $166.6 million.Automotive insurance vertical revenue of $152.7 million, an increase of 97%.Home and renters insurance vertical revenue of $13.9 million, an increase of 10%.VMD grew to $46.9 million, compared to $30.8 million, an increase of 52%.GAAP net income of $8.0 million, compared to a GAAP net income of $1.9 million. GAAP net income in Q1 2025 included a non-cash charge of $7.9 million related to divesting the remaining P&C direct-to-consumer agency assets to settle an existing legal matter w...