EverQuote(EVER) - 2025 Q3 - Quarterly Results

Financial Performance - Third quarter revenue grew 20% year-over-year to $173.9 million[6] - Record net income increased 63% year-over-year to $18.9 million[6] - Adjusted EBITDA rose 33% year-over-year to $25.1 million, with an adjusted EBITDA margin of 14.4%[7] - Total revenue for Q3 2025 reached $173,940,000, a 20.3% increase from $144,530,000 in Q3 2024[22] - Net income for Q3 2025 was $18,865,000, representing a 63.3% increase from $11,554,000 in Q3 2024[22] - Adjusted EBITDA for Q3 2025 was $25,067,000, up 33.5% from $18,783,000 in Q3 2024[22] - For the nine months ended September 30, 2025, total revenue was $497,201,000, a 41.0% increase from $352,735,000 in the same period of 2024[22] - Income from operations for the nine months ended September 30, 2025, was $39,705,000, a 101.3% increase from $19,724,000 in 2024[22] Revenue Breakdown - Automotive insurance vertical revenue increased 21% to $157.6 million, while home and renters insurance vertical revenue grew 15% to $16.3 million[7] - Automotive revenue grew by 21.3% to $157,641,000 in Q3 2025, compared to $130,005,000 in Q3 2024[22] Marketing Expenses - Variable Marketing Dollars grew 14% to $50.1 million compared to $43.9 million[7] - Variable marketing dollars for Q3 2025 totaled $50,140,000, a 14.1% increase from $43,931,000 in Q3 2024[22] - Variable Marketing Dollars for the fourth quarter are expected to be between $46.0 million and $48.0 million, indicating 7% year-over-year growth at the midpoint[7] Cash Position - Cash and cash equivalents at the end of the quarter totaled $145.8 million[7] - Cash, cash equivalents, and restricted cash at the end of Q3 2025 were $145,766,000, down from $148,188,000 at the beginning of the period[20] - Cash provided by operating activities for Q3 2025 was $19,768,000, compared to $23,614,000 in Q3 2024[20] Shareholder Returns - The company executed a $21 million share buyback program, repurchasing 900,000 shares[7] - The company repurchased common stock amounting to $21,024,000 during Q3 2025[20] Future Guidance - Fourth quarter revenue guidance is projected between $174.0 million and $180.0 million, representing 20% year-over-year growth at the midpoint[7] - Adjusted EBITDA guidance for the fourth quarter is projected between $21.0 million and $23.0 million, representing 16% year-over-year growth at the midpoint[7]