EverQuote (EVER) Q2 2026 earnings summary

Executive summary

• Revenue grew 25% year-over-year to $195.1 million in Q2 2026, with adjusted EBITDA up 37% to a record $30.1 million and net income rising to $19.2 million.

• Both carrier and agent revenue reached record highs, with strong demand from major carriers and local agents, and a major carrier returning to the marketplace.

• Home insurance vertical grew 35% year-over-year to $23 million, outpacing auto growth.

• AI-driven Smart Campaigns adoption expanded, now used by seven of the top 10 carriers, with agent-facing versions launched and engineering efficiency up 25%.

• The company is investing in new AI-native products and digital solutions for both consumers and providers to drive future growth.

Financial highlights

• Q2 2026 revenue: $195.1 million, up 25% year-over-year.

• Auto insurance revenue: $172.1 million, up 23% year-over-year; home insurance revenue: $23 million, up 35% year-over-year.

• GAAP net income: $19.2 million, up from $14.7 million in the prior-year period.

• Adjusted EBITDA: $30.1 million, 15.4% margin, up 37% year-over-year.

• Variable marketing dollars (VMD): $56.9 million, up 25% year-over-year; Variable marketing margin (VMM): 29.2% for the quarter.

• Operating cash flow: $24.3 million in Q2; cash and cash equivalents at quarter end: $192.3 million, with no debt.

Outlook and guidance

• Q3 2026 revenue expected between $198 million and $208 million, 17% year-over-year growth at midpoint.

• Q3 VMD expected between $56 million and $59 million, 15% year-over-year growth at midpoint.

• Q3 adjusted EBITDA expected between $28 million and $31 million, 18% year-over-year growth at midpoint.

• Confident in achieving $1 billion annual revenue target within the originally communicated timeline.

• Targeted investments and strategic partnerships in AI-first solutions planned for the second half of the year.