Slide 1: Investor Presentation August 2024
Investor Presentation August 2024
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this presentation, i
Slide 3: Our vision
Our vision Become the largest online source of insurance policies by using data, technology and knowledgeable advisors to make insurance simpler, more affordable and personalized. 3
Slide 4: Key Investment Highlights
Key Investment Highlights Leading Property and Casualty1 (”P&C”) online insurance marketplace Insurance Marketplace Leader providing compelling benefits for consumers and insurance providers $100b+ in annual P&C insurance distribution and advertising spend in the Massive Market Opportunity early pha
Slide 5: Company Overview
Company Overview Company Snapshot Compelling Value Proposition • One of the insurance industry’s largest online customer Providers: efficiently acquire consumers acquisition and distribution platforms • Large volume of high intent consumers • Highly scalable, data proprietary platform leveraging • H
Slide 6: Large & Expanding TAM
Large & Expanding TAM U.S. Insurance Market: Highlights2 Growth Drivers Distribution and Advertising Spend1 $171b <1% Continued shift of U.S. Insurance Market Estimated share of P&C consumer time spent online Distribution and Advertising Distribution and Advertising Spend Spend Market $100b P&C Dist
Slide 7: The Customer Journey
The Customer Journey Customer Acquisition Consumer Routing Distribution Traffic Consumer Provider Provider Representative Channels Arrival Matching Engagement Carriers3 SEM Enterprise Distribution Alignment Bidding Performance Media Carriers Calls Clicks Agent Distribution Performance Partnerships O
Slide 8: Proprietary Platforms Strengthen Competitive Moat
Proprietary Platforms Strengthen Competitive Moat Highly integrated AI, machine learning and data assets to support growth of all verticals Marketing Consumer Distribution B2B Omni-channel Personalized User Consumer Alignment Enterprise & Agency Automated Bidding Experiences Algorithms Campaign Mana
Slide 9: 2024 Strategic Priorities
2024 Strategic Priorities Focus on EVER’s core vertical markets of Auto and Focus on P&C Markets Home / Renters after exit of Health vertical in 2023 Streamline our business around the most capital Asset-Light Model efficient parts of EVER’s operations; employee headcount down ~37% YoY1 Drive greate
Slide 10: Quarterly Financial Overview Q3 2023 – Q2 2024
Quarterly Financial Overview Q3 2023 – Q2 2024 Summary Revenue ($m) Beginning of Auto • Auto carrier recovery is driving significant growth in both Carrier Recovery $117.1 Revenue and VMM $91.1 • VMM % decreasing (as expected with recovery) due to more competitive advertising environment $55.0 $55.7
Slide 11: Revenues by Verticals
Revenues by Verticals EVER exits Health Q2 Summary Quarterly Revenue ($m) Insurance Vertical • EVER’s Q2 2024 total revenue was a Total: $103.2 $88.3 $109.2 $68.0 $55.0 $55.7 $91.1 $117.1 record of $117.1m Auto $0.6 $10.1 $7.9 Home/Renters $13.9 • Auto Q2 2024 revenue increased 106% $7.2 $14.5 $9.5
Slide 12: Multiple Levers to Drive Future Growth
Multiple Levers to Drive Future Growth Explore Acquisition Opportunities Grow Core Verticals Strengthen Deepen Technology Increase Consumer Platform Attract Provider and Provider More Coverage Engagement Consumers and Budget 12
Slide 13: NASDAQ: EVER
NASDAQ: EVER
Slide 14: Appendix
Appendix
Slide 15: Key Metrics Definitions
Key Metrics Definitions Variable We define variable marketing margin, or VMM, as revenue, as reported in our consolidated statements of operations and comprehensive income (loss), less advertising costs (a component of sales and marketing expense, as reported in our statements of Marketing operation
Slide 16: Reconciliation of Adjusted EBITDA - 12 Months Ended
Reconciliation of Adjusted EBITDA - 12 Months Ended 12 Months Ended ($ in Thousands) December 31, December 31, December 31, December 31, December 31, December 31, 2023 2022 2021 2020 2019 2018 Net Income (Loss) ($51,287) ($24,416) ($19,434) ($11,202) ($7,117) ($13,791) Stock-based $22,808 $28,986 $3
Slide 17: Reconciliation of Adjusted EBITDA - 3 Months Ended
Reconciliation of Adjusted EBITDA - 3 Months Ended 3 Months Ended ($ in Thousands) June 30, March 31, December 31, September 30, June 30, 2024 2024 2023 2023 2023 Net Income (Loss) $6,402 $1,907 ($6,348) ($29,217) ($13,193) Stock-based $5,340 $4,518 $4,813 $5,479 $6,007 compensation Depreciation & $