EverQuote (EVER) Q2 2025 earnings summary

Executive summary

• Achieved 34% year-over-year revenue growth in Q2 2025, reaching $156.6 million, with record net income of $14.7 million and adjusted EBITDA of $22.0 million, driven by strong carrier and agent demand, operational efficiency, and AI adoption.

• Automotive insurance revenue rose 36% to $139.6 million; home and renters insurance revenue increased 23% to $17.0 million.

• Multi-product adoption among agents increased, supporting the transition from leads vendor to strategic growth partner.

• AI and machine learning accelerated across operations, improving spend efficiency and productivity.

• Announced a $50 million share repurchase program and secured a three-year $60 million credit facility, ending Q2 with $148.2 million in cash and no debt.

Financial highlights

• Q2 2025 revenue grew 34% year-over-year to $156.6 million, led by a 61% increase in enterprise carrier spend.

• Adjusted EBITDA increased to $22.0 million (up from $12.9 million), with a record 14% margin; net income hit a record $14.7 million.

• Variable Marketing Dollars (VMD) reached $45.5 million, up 25% year-over-year; Variable Marketing Margin (VMM) was 29.1%.

• Operating cash flow reached a record $25.3 million; cash and equivalents rose to $148.2 million.

• Six-month revenue reached $323.3 million, up 55% year-over-year.

Outlook and guidance

• Q3 2025 revenue expected between $163 million and $169 million, representing 15% year-over-year growth at the midpoint.

• Q3 VMD guidance is $47–$50 million (10% year-over-year growth at midpoint); adjusted EBITDA expected at $22–$24 million (22% year-over-year growth at midpoint).

• Long-term targets reaffirmed: ~20% annual revenue growth and 20% EBITDA margins.

• Q3 to Q4 seasonality expected to be a low single-digit percent decline; incremental investments in technology and AI planned for the back half of the year.

• Management expects overall revenue growth in 2025, led by automotive and home/renters verticals.