EverQuote Announces First Quarter 2025 Financial Results

Core Viewpoint - EverQuote, Inc. reported strong financial performance in Q1 2025, achieving record revenue and Adjusted EBITDA, driven by increased marketing budgets from carriers and agents, and a focus on digital advertising in the insurance sector [2][6][7]. Financial Performance - Total revenue for Q1 2025 grew by 83% year-over-year to $166.6 million [6][7]. - Variable Marketing Dollars (VMD) increased by 52% year-over-year to $46.9 million [6][7]. - Net income for Q1 2025 was $8.0 million, compared to $1.9 million in Q1 2024 [6][7]. - Adjusted EBITDA reached a record $22.5 million, up from $7.6 million in the previous year [6][7]. - Operating cash flow improved to $23.3 million from $10.4 million year-over-year [6][7]. Segment Performance - Revenue from the automotive insurance vertical was $152.7 million, a 97% increase year-over-year [7][18]. - Revenue from home and renters insurance grew by 10% to $13.9 million [7][18]. Cash Position - The company ended Q1 2025 with $125.0 million in cash and cash equivalents, a 22% increase from $102.1 million at the end of Q4 2024 [6][14]. Future Outlook - For Q2 2025, the company expects revenue between $155.0 million and $160.0 million, representing a 34% year-over-year growth at the midpoint [6][7]. - VMD is projected to be between $45.0 million and $47.0 million, indicating a 26% year-over-year growth at the midpoint [6][7]. - Adjusted EBITDA is anticipated to be between $20.0 million and $22.0 million, reflecting a 62% year-over-year growth at the midpoint [6][7].