EverQuote (EVER) Q1 2026 earnings summary

Executive summary

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

• Adjusted EBITDA reached a record $29.3 million, up 30% year-over-year, with net income rising to $18.7 million from $8.0 million.

• Operating cash flow was 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 2026, offsetting dilution and supporting capital allocation priorities.

• Continued to scale AI-driven marketplace, deepening provider relationships and driving productivity gains.

Financial highlights

• Total revenue grew 15% year-over-year to $190.9 million in Q1 2026, with auto insurance revenue at $172.4 million (+13%) and home insurance at $18.5 million (+33%).

• Adjusted EBITDA margin improved to 15.4%, and Variable Marketing Dollars reached $55.9 million, up 19% year-over-year.

• GAAP net income was $18.7 million, with net income margin improving to 9.8%.

• Variable Marketing Margin (VMM) was 29.3%, up year-over-year.

• Operating cash flow margin was 15.5%.

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 million to $57 million, up 23% year-over-year at midpoint.

• Q2 Adjusted EBITDA expected between $28 million and $30 million, up 32% year-over-year at midpoint.

• Management reiterates commitment to achieving $1 billion in annual revenue within 2–3 years, driven by AI and digital expansion.

• Anticipates increased sales and marketing, R&D, and G&A expenses in 2026 due to higher personnel and advertising costs.