Business
EverQuote Announces Fourth Quarter and Full Year 2024 Financial Results
Fourth Quarter Revenue Growth of 165% Year-Over-Year to $147.5 millionFourth Quarter Variable Marketing Dollars Increases Over 110% Year-Over-Year to $44.0
About this update from Everquote, Inc.
[{"type":"text","content":"Fourth Quarter Revenue Growth of 165% Year-Over-Year to $147.5 millionFourth Quarter Variable Marketing Dollars Increases Over 110% Year-Over-Year to $44.0 millionDelivers Fourth Quarter Net Income of $12.3 million and Adjusted EBITDA of $18.9 millionFull Year Revenue Grows 74% and Variable Marketing Dollars Increases 55%, Year-Over-YearFull Year Net Income Increases to $32.2 million and Generates Operating Cash Flow of $66.6 million CAMBRIDGE, Mass., Feb. 24, 2025 (GLOBE NEWSWIRE) -- EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2024. “I am proud of our remarkable team and our financial accomplishments in 2024. We grew revenue by 74% year-over-year to cross the $500 million mark for the first time, increased Adjusted EBITDA to almost $60 million, and finished the year with over $100 million of cash on the balance sheet, and no debt,” said Jayme Mendal, CEO of EverQuote. “Over the last year, we have refocused and clarified our vision to become the leading growth partner for P&C insurance providers by efficiently delivering better performing referrals, bigger traffic scale and a broader suite of products and services. We are emerging from the auto insurance downturn with record performance, and expect to carry forward our positive momentum and profitable growth into 2025 and beyond.” “Our strong momentum continued through the fourth quarter, as we again exceeded guidance across all three of our primary financial metrics: total revenue, Variable Marketing Dollars or VMD, and Adjusted EBITDA. We produced a record-level of revenue and net income, as well as a record-level of Adjusted EBITDA and operating cash flow for the full year 2024,” said Joseph Sanborn, CFO of EverQuote. “As we progress through 2025, we plan to make continued strategic investments to accelerate the advancement of our technology platform to enable faster development of product enhancements and new offerings for our customers. We are excited about our ability to continue to leverage our traffic expertise, data assets and technology to support our insurance provider customers in successfully expanding their business; and in turn enable EverQuote to further scale and drive growing profitability.” Fourth Quarter 2024 Highlights:(Unless otherwise noted...