EverQuote (EVER) investor relations material

Executive summary

• Q1 2026 revenue grew 15% year-over-year to $190.9 million, exceeding the high end of guidance across all key metrics.

• Adjusted EBITDA reached a record $29.3 million, up 30% year-over-year.

• Net income increased to $18.7 million, up from $8 million in the prior year period.

• Operating cash flow hit a record $29.6 million, with a strong cash balance of $178.5 million and no debt.

• Repurchased $19.9 million in shares during Q1, offsetting dilution.

Financial highlights

• Automotive insurance revenue was $172.4 million (+13% year-over-year); home and renters insurance revenue was $18.5 million (+33% year-over-year).

• Variable Marketing Dollars reached $55.9 million, up 19% year-over-year; Variable Marketing Margin was 29.3%.

• Adjusted EBITDA margin improved to 15.4% for Q1 2026.

• GAAP net income margin for Q1 2026 was about 9.8%.

• Operating expenses remained nearly flat over two years despite doubling revenues.

Outlook and guidance

• Q2 2026 revenue expected between $185 million and $195 million, representing 21% year-over-year growth at midpoint.

• Q2 Variable Marketing Dollars projected at $55–$57 million (+23% year-over-year at midpoint); Adjusted EBITDA guidance is $28–$30 million (+32% year-over-year at midpoint).

• Management reiterates goal of reaching $1 billion in annual revenues within 2–3 years, driven by proprietary data, AI, and expanded digital services.

• Focus on automation, platform simplification, and scaling AI-driven marketplace.