Slide 1: Investor Presentation November 2025
Investor Presentation November 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 largest online insurance customer Providers: efficiently acquire consumers acquisition and distribution platforms • Large volume of high intent consumers • Highly scalable, data and AI proprietary platform • Higher ROI from
Slide 6: Large & Expanding TAM
Large & Expanding TAM U.S. P&C Insurance Market: Highlights2 Growth Drivers Distribution and Advertising Spend1 <1% Increased carrier focus on $117b Estimated share of P&C growing policies in force P&C Distribution Distribution and Advertising and Advertising Spend Market Spend Market ~7% Continued
Slide 7: Proprietary Platforms Strengthen Competitive Moat
Proprietary Platforms Strengthen Competitive Moat Highly integrated AI, machine learning and data assets to support growth of all verticals Marketing Consumer Distribution B2B Omni-channel Personalized User Consumer Alignment Enterprise & Agency Automated Bidding Experiences Algorithms Campaign Mana
Slide 8: The Consumer Journey
The Consumer Journey Consumer Acquisition Consumer Routing Distribution Traffic Consumer Provider Provider Representative Channels Arrival Matching Engagement Carriers2 SEM Enterprise Distribution Alignment Bidding Performance Media Carriers Calls Clicks Agent Distribution Performance Partnerships O
Slide 9: Multiple Levers to Drive Future Growth
Multiple Levers to Drive Future Growth Explore Acquisition Opportunities Expand Product Offerings Grow Non-Auto Leverage Attract Increase Verticals Technology More Provider Advantage High-Intent Coverage Consumers and Budget 9
Slide 10: Financial Highlights
Financial Highlights
Slide 11: Q3 2025 Results
Q3 2025 Results Year-over-Year Comparison Quarterly Revenue ($m) $173.9 $m Q3 2024 Q3 2025 YoY Growth % $166.6 $156.6 $144.5 $147.5 Revenue $144.5 $173.9 20% $117.1 Variable $91.1 $43.9 $50.1 14% Marketing Dollars Adjusted EBITDA $18.8 $25.1 33% Adjusted EBITDA 13.0% 14.4% 1.4% pts. Margin % Q1 2024
Slide 12: Financial Highlights
Financial Highlights Q3 Highlights Quarterly Revenue (Q1 ‘24 – Q3 ‘25) ($m) Total: $91.1 $117.1 $144.5 $147.5 $166.6 $156.6 $173.9 • EVER’s Q3 2025 total revenue grew 20% YoY to $173.9m $20 0. 0 $18 0. 0 Auto Home/Renters Other $0.4 $0.2 $13.9 $16.3 • Auto Q3 2025 revenue increased 21% $16 0. 0 $11.
Slide 13: Financial Overview Since 2018
Financial Overview Since 2018 Auto Downturn Begins in Revenue ($m) Late Summer 2021 Variable Marketing Dollars ($m) CAGR 2018 - 2024: ~21% $645 $200 CAGR 2018 - 2024: ~22% $187 $155 39.0% $500 $180 $130 $128 $160 37.0% $419 $404 $109 $140 35.0% $347 $120 $100 $288 33.0% $73 $100 $249 $80 34.8% 31.0%
Slide 14: NASDAQ: EVER
NASDAQ: EVER
Slide 15: Appendix
Appendix
Slide 16: Key Metrics Definitions
Key Metrics Definitions Variable We define variable marketing dollars, or VMD, as revenue, as reported in our consolidated statements of operations and comprehensive income (loss), less advertising costs (a component of sales and marketing expense, as reported in our consolidated Marketing statement
Slide 17: Reconciliation of Adjusted EBITDA - 12 Months Ended
Reconciliation of Adjusted EBITDA - 12 Months Ended 12 Months Ended ($ 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 $28,
Slide 18: Reconciliation of Adjusted EBITDA - 3 Months Ended
Reconciliation of Adjusted EBITDA - 3 Months Ended 3 Months Ended ($ in Thousands) September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 Net Income (Loss) $18,865 $14,701 $7,990 $12,306 $11,554 Stock-based $6,728 $6,560 $5,420 $5,310 $5,446 compensation Depreciation &