EverQuote Inc · Q3 2022 earnings

Briefing

EverQuote's Q3 2022 performance saw a revenue of $103.2 million, exceeding guidance expectations and demonstrating agility in adapting to a changing environment.

EverQuote reported Q3 2022 financial results with a total revenue of $103.2 million, a variable marketing margin of $31.8 million, and an Adjusted EBITDA of $2.0 million, exceeding guidance expectations. The company focused on disciplined expense management and continued investing in key strategic initiatives.

• Total revenue reached $103.2 million, a 4% decrease year-over-year.
• Automotive insurance vertical revenue was $88.2 million, a 2% decrease year-over-year.
• Other insurance verticals revenue decreased by 16% to $15.1 million.
• GAAP net loss increased to $6.5 million, compared to a net loss of $5.3 million in the same quarter of the previous year.

Headline financials

Revenue & EPS history

EverQuote anticipates for Q4 2022 revenue of $87 - $92 million, variable marketing margin of $27 - $30 million, and Adjusted EBITDA of $(1.5) - $1.5 million. For the full year 2022, revenue is expected to be $403 - $408 million, variable marketing margin of $126 - $129 million, and Adjusted EBITDA of $4 - $7 million.