Slide 1: Investor Presentation August 2023
Investor Presentation August 2023 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding possible or assumed future results of operations, business strategies, development plans, regulatory activities, c
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 co
Slide 10: Exiting Health Vertical in 2023 Restructuring
Exiting Health 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 market2 Sale of Health Vertical Assets3 Completed sale of select assets, including commissions re
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 $ 4 5 0 $347 $ 4 0 0 rebound to revenue growth $ 3 5 0 $249 ▪ Potential for incremental improvement in VMM % from $ 3 0 0 $ 2 5 0 traffic optimization and product expansion $ 2 0 0 $163 $ 1 5
Slide 13: 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 13
Slide 14: EverQuote NASDAQ: EVER
NASDAQ: EVER EVERQUOTE
Slide 15: Appendix
Appendix EVERQUOTE
Slide 16: 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 17: 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 $7,1
Slide 18: Reconciliation of Adjusted EBITDA - 3 Months Ended
Reconciliation of Adjusted EBITDA - 3 Months Ended 3 Months Ended ($ in Thousands) June 30, March 31, December 31, September 30, June 30, 2023 2023 2022 2022 2022 Net loss ($13,193) ($2,529) ($8,494) ($6,451) ($3,756) Stock-based $6,007 $6,509 $6,623 $7,233 $7,600 compensation Depreciation & $1,463