Everquote, Inc. · NASDAQ:EVER
Everquote — Q2 2021 Earnings Presentation
22 slides from Everquote's earnings presentation, Aug 2, 2021
Slide 1: Investor Presentation August 2021
Exhibit 99.2 Investor Presentation August 2021 Proprietary Information Proprietary Information 1Exhibit 99.2 Investor Presentation August 2021 Proprietary Information Proprietary Information 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 and technology to make insurance simpler, more affordable and personalized, ultimately reducing cost and risk. Proprietary Information 3Our vision Become the largest online source of insurance policies by using data and
Slide 4: Key Investment Highlights
Key Investment Highlights Leading online insurance marketplace providing compelling benefits for Insurance Marketplace consumers and insurance providers $154bn in annual distribution and advertising spend in the early phases of Massive Market Opportunity shifting online provides multi-year secular t
Slide 5: EverQuote Company Snapshot
EverQuote Company Snapshot Founded* IPO 2011 June 28, 2018 * First year of revenue LTM LTM Variable Marketing LTM Adjusted Revenue Growth Margin Growth EBITDA Growth 32% 40% 38% Headquarters Employees Cambridge, MA 450+ Insurance Verticals Commercial Auto Home & Renters Life Health Proprietary Infor
Slide 6: Large & Expanding TAM
Large & Expanding TAM U.S. Insurance Market: Projected Annual Growth Drivers Distribution & Ad Spend Growth to 2024 Continued shift of Total Market Growth: ~4% $154bn consumer time spent EVER Share: <1% Total Market online Continued shift of $16.7bn acquisition spend Total Advertising online Spend T
Slide 7: Compelling Model Benefits Both Consumers & Providers
Compelling Model Benefits Both Consumers & Providers Consumers Insurance Providers Consumers Save Time & Money More Efficient Acquisition for Providers Match & connect for multiple quotes Large volume of high intent consumers 1 Average Savings ~$600 per year Target based consumer attributes tied to
Slide 8: Marketplace Arrival to Policy Sale Journey
Marketplace Arrival to Policy Sale Journey Customer Acquisition Marketplace Distribution Traffic Arrives at the Marketplace Matched with EverQuote Channels Marketplace Workflows Providers Monetization 3rd Party (All Verticals) Monetize Display “Per Referral” SEM Bidding Carriers Local Agents Email S
Slide 9: Distribution Strength of our Marketplace
Distribution Strength of our Marketplace 100+ carriers available via the 1 marketplace 19 of 20 1 top auto insurance carriers 8,500+ rd 3 party local agents 1. Based on Company data & representative of the insurance provider partners on the platform as of December 31, 2020 Proprietary Information 9D
Slide 10: Growing Data & Tech Assets Strengthen Competitive Moat
Growing Data & Tech Assets Strengthen Competitive Moat Traffic Sources Multi-Vertical Marketplace Property & Casualty Marketing Consumer Distribution B2B Display (Auto, Home, Commercial) Platforms Platforms Platforms Platforms SEM Email Multi-Channel Personalized User Consumer Enterprise & Automated
Slide 11: Multiple Levers Driving Future Growth
Multiple Levers Driving Future Growth Expand Non-Auto Verticals Deepen Consumer & Provider Engagement Increase Provider Coverage & Attract Budget More Leverage Consumers Secular Shift Online Proprietary Information 11Multiple Levers Driving Future Growth Expand Non-Auto Verticals Deepen Consumer & P
Slide 12: EverQuote to Acquire PolicyFuel
EverQuote to Acquire PolicyFuel Our Acquisition Rationale • PolicyFuel provides policy-sales-as-a- Expands EverQuote’s range of products Supports Growth 1 service (“PSaaS”) to its P&C carrier clients offered to support the growth of its Property of Carrier 1 Partners & Casualty (P&C) carrier partner
Slide 13: Financial Overview
Financial Overview Proprietary Information 13Financial Overview Proprietary Information 13
Slide 14: Highlights on Second Quarter 2021
Highlights on Second Quarter 2021 34% 40% Revenue increased 34% YoY VMM increased 40% YoY Adjusted EBITDA expanded to $105.1 mm to $32.8 mm to record $6.6 mm +120 34% bps VMM as a percentage 0f Revenue per Quote Request Revenue increased by 120 basis increased 34% YoY points YoY, to 31.2% Note: Adju
Slide 15: Track Record of Strong Growth
Track Record of Strong Growth Track Record of Strong Growth Revenue ($mm) 34% 29% Q2’21 YoY Growth CAGR 2015-2020 $346.9 $105.1 $103.8 $97.3 $90.0 $78.3 $248.8 $163.3 $126.2 $122.8 $96.8 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 2015 2016 2017 2018 2019 2020 Proprietary Information 15Track Record of S
Slide 16: Delivering Incremental Variable Marketing Margin
Delivering Incremental Variable Marketing Margin 40% Variable Marketing Margin ($mm) Q2’21 YoY Growth Variable Marketing Margin % $32.8 31.3% $31.9 29.5% $31.4 $120 28.3% 28.2% 27.4% $29.4 $108.6 24.2% $100 36% $23.5 $80 CAGR 2015-2020 $73.3 $60 $40 $46.1 $35.8 $33.6 $20 $23.4 $0 Q2 2020 Q3 2020 Q4
Slide 17: Rapid Expansion into New Verticals with Scalable Model
Rapid Expansion into New Verticals with Scalable Model Traffic leverage: Target advertising Sales leverage: Ability to cross-sell Non-Auto Verticals opportunities leveraging expertise traffic to existing customers & technology Home & Renters Revenue from Non-Auto Verticals ($mm) 36% YoY Growth $63.7
Slide 18: Driving Growth & Profitability
Driving Growth & Profitability 65% Adjusted EBITDA ($mm) Q2’21 YoY Growth $6.6 $18.4 $5.4 $5.2 $4.8 $4.0 $8.3 2018 2018 2018 2019 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 -$5.5 Note: Adjusted EBITDA is a non-GAAP metric, refer to financial reconciliation for additional detail. Proprietary Inform
Slide 19: NASDAQ: EVER
NASDAQ: EVER Proprietary Information 19NASDAQ: EVER Proprietary Information 19
Slide 20: Appendix
Appendix Proprietary Information 20Appendix Proprietary Information 20
Slide 21: Key Metrics Definitions
Key Metrics Definitions Quote requests are consumer-initiated requests for an insurance quote that result from a website form, telephones calls with a consumer, or other interactions we have with consumers through third-party websites that result in a revenue generating transaction. Quote As we attr
Slide 22: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Three Months Ended 12 Months Ended ($ in June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 June 30, 2020 December 31, 2020 December 31, 2019 December 31, 2018 Thousands) Net income (loss) ($1,881) ($3,801) ($3,768) ($3,184) ($2,808) ($11,202) ($7,117