Business
EverQuote Announces Fourth Quarter and Full Year 2019 Financial Results
Fourth Quarter Revenue Increased 86% Year-Over-Year to $73.8 MillionFourth Quarter Variable Marketing Margin Increased 113% Year-Over-Year to $21.8
About this update from Everquote, Inc.
[{"type":"text","content":"Fourth Quarter Revenue Increased 86% Year-Over-Year to $73.8 MillionFourth Quarter Variable Marketing Margin Increased 113% Year-Over-Year to $21.8 MillionFull Year 2019 Revenue Increased 52% Year-Over-Year to $248.8 MillionFull Year 2019 Variable Marketing Margin Increased 59% Year-Over-Year to $73.3 Million Full Year 2019 Net Loss of $7.1 million Exceeded Full Year 2019 Adjusted EBITDA Guidance with Adjusted EBITDA of $8.3 Million CAMBRIDGE, Mass., Feb. 24, 2020 (GLOBE NEWSWIRE) -- EverQuote, Inc. (NASDAQ: EVER)(“EverQuote” or “the Company”), a leading online insurance marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2019.\n “We are pleased to report strong fourth quarter results across all of our key financial metrics - delivering year-over-year revenue growth of 86% in the fourth quarter, and 52% for the full year,” said Seth Birnbaum, CEO and Co-Founder of EverQuote. “We delivered growth across all of our verticals, and we continue to scale the business with fourth quarter variable marketing margin up 113% year-over-year. We are executing across our key growth levers and investing in the business to capitalize on our large and expanding market opportunity. “2019 was a record year that exceeded our expectations across the board, and I am extremely proud of the strong results generated by our talented and dedicated team. During the year, we launched our commercial, health, and renters insurance verticals. We continue to make excellent progress on our mission to be the largest source of online insurance policies in the world and are bullish on the long-term prospects for our business. We achieved adjusted EBITDA profitability for the full year 2019 and believe we have set the stage for continued growth in 2020 and beyond,” concluded Mr. Birnbaum. Fourth Quarter 2019 Financial Highlights:(All comparisons are relative to the fourth quarter of 2018): Total revenue of $73.8 million, an increase of 86% driven by strength in consumer quote request volume and more favorable monetization.Automotive insurance vertical revenue of $60.2 million, an increase of 78%.Revenue from our other insurance verticals, which includes home and renters, life, commercial and health insurance, increased 130% to $13.6 million.Variable Marketing Margin of $21.8 million, an increase of 113%.GAAP net los...