EverQuote(EVER) - 2024 Q4 - Annual Results

Revenue Growth - Total revenue for 2024 reached $500.2 million, representing a 74% increase year-over-year[6] - Fourth quarter revenue grew by 165% year-over-year to $147.5 million, with automotive insurance vertical revenue increasing over 200% to $135.9 million[7][8] - Total revenue for Q4 2024 reached $55,705, a 164.7% increase from $147,455 in Q4 2023[24] - Total revenue for the year 2024 was $500,190, a 73.7% increase from $287,921 in 2023[24] Profitability - Full year net income increased to $32.2 million, compared to a net loss of $51.3 million in 2023[12] - Net income for Q4 2024 was $12,306, compared to a net loss of $6,348 in Q4 2023, representing a significant turnaround[24] - Year-to-date net income for 2024 was $32,169, compared to a net loss of $51,287 for the entire year of 2023[24] Adjusted EBITDA - Adjusted EBITDA for the fourth quarter was $18.9 million, compared to a loss of $0.9 million in the same quarter of 2023[8] - Adjusted EBITDA for Q4 2024 was $18,916, compared to a loss of $886 in Q4 2023, indicating strong operational performance[30] Cash Flow and Liquidity - Operating cash flow for the full year was $66.6 million, compared to a cash outflow of $2.8 million in 2023[12] - The company ended the fourth quarter with $102.1 million in cash and cash equivalents, a 23% increase from $82.8 million at the end of Q3 2024[8] - Cash provided by operating activities for Q4 2024 was $20,134, a significant improvement from cash used of $792 in Q4 2023[22] - Cash, cash equivalents, and restricted cash at the end of Q4 2024 totaled $102,116, up from $37,956 at the end of Q4 2023[22] Marketing and Investment - Variable Marketing Dollars (VMD) for the fourth quarter increased over 110% year-over-year to $44.0 million, and full year VMD grew by 55% to $155.2 million[7][12] - Variable marketing dollars increased to $44,023 in Q4 2024, up 113.0% from $20,668 in Q4 2023[24] - The company plans to continue strategic investments in technology to enhance product offerings and support insurance provider customers[4] - EverQuote aims to leverage its traffic expertise and data assets to drive profitable growth into 2025 and beyond[4] Future Guidance - The first quarter 2025 revenue guidance is projected to be between $155.0 million and $160.0 million, representing approximately 73% year-over-year growth at the midpoint[12] Accounts Payable - The company reported a significant increase in accounts payable, which rose to $12,961 in Q4 2024 from a decrease of $3,382 in Q4 2023[22]