Slide 1: Investor Presentation November 2023
Investor Presentation November 2023 1
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, ultimately reducing cost and risk. 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 $171b in annual insurance distribution spend in the early phases of shifting Massive Market Opportunity onlin
Slide 5: Company Overview
Company Overview Company Snapshot Compelling Value Proposition ▪ One of the insurance industry’s largest online Providers: efficiently acquire consumers customer acquisition and distribution platforms ▪ Large volume of high intent consumers ▪ Higher ROI from target-based consumer attributes ▪ Highly
Slide 6: Large & Expanding TAM
Large & Expanding TAM U.S. Insurance Market: Highlights2 Growth Drivers Distribution Spend1 $171b <1% Total Market Continued shift of Estimated share of Total consumer time spent online Distribution Spend Market ~4% Continued shift of Estimated share of Digital acquisition spend online Advertising S
Slide 7: The Customer Journey
The Customer Journey Customer Acquisition Marketplace 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 Pa
Slide 8: Proprietary Platforms Strengthen Competitive Moat
Proprietary Platforms Strengthen Competitive Moat Highly integrated 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 Manageme
Slide 9: The State of the Auto Insurance Market
The State of the Auto Insurance Market Late Summer 2021 Current Outlook Auto Insurance Downturn Begins Cost of claims rises rapidly due to Auto carriers continue raising rates to higher used car values, increased restore adequate profitability; cost to repair and overall accident progress varies con
Slide 10: Exit of Health Insurance Vertical in 2023 Restructuring
Exit of Health Insurance Vertical in 2023 Restructuring Significant capital and scale would have been required to effectively compete Strategic Exit of Health1 in a highly regulated and increasingly unpredictable health insurance market2 Completed sale of health insurance vertical assets, including
Slide 11: Strategic Focus Following 2023 Restructuring
Strategic Focus Following 2023 Restructuring1 Streamlining business around the most capital Asset-Light Model efficient and high ROI parts of EVER’s operations Drive greater value for carriers and agents by Traffic Scale and Technology leveraging proprietary data, machine learning capabilities and e
Slide 12: Financial Overview
Financial Overview Summary Revenue ($m) $419 $404 ▪ Auto carrier recovery is expected to drive a significant $450 $347 $400 rebound to revenue growth $350 $249 $300 ▪ Potential for incremental improvement in VMM % from $250 traffic optimization and product expansion $200 $163 $150 $126 ▪ Adjusted EB
Slide 13: Revenues by Vertical Q1 2022 – Q3 2023
Revenues by Vertical Q1 2022 – Q3 2023 Summary Revenue ($m) ▪ Following our exit of the Health Total: $110.7 $101.9 $103.2 $88.3 $109.2 $68.0 $55.0 insurance vertical, our revenue from $14.0 Other1 vertical significantly declined $10.1 $11.5 $7.9 ▪ Starting in Q3 2023, EVER is reporting EVER exits H
Slide 14: Multiple Levers to Drive Future Growth
Multiple Levers to Drive Future Growth Explore Acquisition Opportunities Grow Core Verticals Deepen Consumer & Provider Increase Engagement Attract Provider Coverage More & Budget Consumers 14
Slide 15: NASDAQ: EVER
NASDAQ: EVER EVERQUOTE
Slide 16: Appendix
Appendix EVERQUOTE
Slide 17: Key Metrics Definitions
Key Metrics Definitions Variable We define variable marketing margin, or VMM, as revenue, as reported in our consolidated statements of operations and comprehensive income (loss), less advertising costs (a component of sales and marketing expense, as reported in our statements of Marketing operation
Slide 18: Reconciliation of Adjusted EBITDA - 12 Months Ended
Reconciliation of Adjusted EBITDA - 12 Months Ended 12 Months Ended December 31, December 31, December 31, December 31, December 31, December 31, ($ in Thousands) 2022 2021 2020 2019 2018 2017 Net loss ($24,416) ($19,434) ($11,202) ($7,117) ($13,791) ($5,070) Stock-based $28,986 $30,020 $12,721 $7,1
Slide 19: Reconciliation of Adjusted EBITDA - 3 Months Ended
Reconciliation of Adjusted EBITDA - 3 Months Ended 3 Months Ended ($ in Thousands) September 30, June 30, March 31, December 31, September 30, 2023 2023 2023 2022 2022 Net loss ($29,217) ($13,193) ($2,529) ($8,494) ($6,451) Stock-based $5,479 $6,007 $6,509 $6,623 $7,233 compensation Depreciation & $