Slide 1: Investor Presentation February 2025
Investor Presentation February 2025
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: leading growth partner for P&C insurance providers
Our vision: To be the leading growth partner for P&C insurance providers 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 $117b in annual P&C insurance distribution and advertising spend continuing Massive Market Opportunity to shi
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. P&C Insurance Market: Highlights2 Growth Drivers Distribution and Advertising Spend1 $117b <1% Continued shift of P&C Distribution Estimated share of P&C consumer time spent online and Advertising Distribution and Advertising Spend Market Spend Market ~7% Continued shift o
Slide 7: The Consumer Journey
The Consumer Journey Consumer Acquisition Consumer Routing Distribution Traffic Consumer Provider Provider Representative Channels Arrival Matching Engagement Carriers2 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: Multiple Levers to Drive Future Growth
Multiple Levers to Drive Future Growth Explore Acquisition Opportunities Expand Product Offerings Grow Non-Auto Strengthen Attract Increase Verticals Technology More Provider Advantage High-Intent Coverage Consumers and Budget 9
Slide 10: Financial Highlights
Financial Highlights
Slide 11: 2024 Financial Highlights
2024 Financial Highlights $500m $155m $58m Record Revenue, Record VMD, Record adjusted EBITDA, 74% YoY Growth 31.0% VMM adjusted EBITDA margin of 11.6% $102m 115% Cash Balance and no debt Cash Conversion2 on Balance Sheet1 1. As of 12/31/24 2. Cash Conversion is defined as Operating Cash Flow divide
Slide 12: Financial Overview 2024
Financial Overview 2024 Year-over-Year Comparison 2024 Revenue ($m) Beginning of Auto $144.5 $147.5 Carrier Recovery $m 2023 2024 YoY Growth (%) $117.1 $91.1 Revenue $288 $500 74% VMD $100 $155 55% Adjusted EBITDA $0.5 $58.2 NM Q1 2024 Q2 2024 Q3 2024 Q4 2024 2024 Variable Marketing Dollars ($m) 202
Slide 13: Financial Overview (2018-2024)
Financial Overview (2018 -2024) Auto Downturn Begins in Revenue ($m) Late Summer 2021 Variable Marketing Dollars ($m) CAGR 2018 - 2024: ~21% $500 CAGR 2018 - 2024: ~22% $155 $180 40.0% $419 $404 $160 $130 $128 38.0% $140 $347 $109 36.0% $120 $100 $288 $100 34.0% $249 $73 31.3% 34.8% $80 31.0% 31.0%
Slide 14: Revenues by Verticals
Revenues by Verticals Commentary Quarterly Revenue (2023 -2024) ($m) Total: $109.2 $68.0 $55.0 $55.7 $91.1 $117.1 $144.5 $147.5 • Following our exit of the Health $0.4 $0.2 insurance vertical at the end of Q2 2023, EVER exits Health $14.1 $11.3 Insurance Vertical $0.6 revenue from our Other 1 vertic
Slide 15: NASDAQ: EVER
NASDAQ: EVER
Slide 16: Appendix
Appendix
Slide 17: Key Metrics Definitions
Key Metrics Definitions Variable We define variable marketing dollars, or VMD, as revenue, as reported in our consolidated statements of operations and comprehensive income (loss), less advertising costs (a component of sales and marketing expense, as reported in our consolidated Marketing statement
Slide 18: Reconciliation of Adjusted EBITDA - 12 Months Ended
Reconciliation of Adjusted EBITDA - 12 Months Ended 12 Months Ended ($ in Thousands) December 31, December 31, December 31, December 31, December 31, December 31, 2024 2023 2022 2021 2020 2019 Net Income (Loss) $32,169 ($51,287) ($24,416) ($19,434) ($11,202) ($7,117) Stock-based $20,614 $22,808 $28,
Slide 19: Reconciliation of Adjusted EBITDA - 3 Months Ended
Reconciliation of Adjusted EBITDA - 3 Months Ended 3 Months Ended ($ in Thousands) December 31, September 30, June 30, March 31, December 31, 2024 2024 2024 2024 2023 Net Income (Loss) $12,306 $11,554 $6,402 $1,907 ($6,348) Stock-based $5,310 $5,446 $5,340 $4,518 $4,813 compensation Depreciation & $