- G ows eve ue 25% yea -ove -yea to $218.1 millio
- Delive s et i come of $18.2 millio a d g ows Adjusted EBITDA 41% yea -ove -yea
- Exceeds Q3 guida ce a d delive s eco d esults o all key met ics
- Issues st o g Q4 outlook i dicati g o goi g positive mome tum a d dema d
CAMBRIDGE, Mass., Nov. 02, 2026 (GLOBE NEWSWIRE) — Eve Quote, I c. (Nasdaq: EVER), a leadi g p ovide of g owth solutio s fo p ope ty a d casualty, o P&C, i su a ce p ovide s, today a ou ced fi a cial esults fo the thi d qua te e ded Septembe 30, 2026.
“We a e ge e ati g eco d esults ac oss ou key fi a cial met ics as we successfully g ow a d deepe ou elatio ships with ou ca ie a d age t custome s,” said Jayme Me dal, Chief Executive Office of Eve Quote. “Ca ie s co ti ue to mai tai st o g u de w iti g p ofitability a d a appetite fo g owth, a d ou team is executi g seamlessly to meet this dema d. As we build o ou st o g fou datio to accele ate ew p oduct i ovatio a d developme t, we believe Eve Quote is u iquely positio ed to help stewa d P&C i su a ce i to the age tic AI e a.”
- Total eve ue g ew 25% to $218.1 millio , compa ed to $173.9 millio .
- Reve ue f om the Compa y’s automotive i su a ce ve tical was $190.4 millio a d eve ue f om the home a d e te s i su a ce ve tical was $27.7 millio , ma ki g g owth of 21% a d 70%, espectively.
- Va iable Ma keti g Dolla s was $62.6 millio , compa ed to $50.1 millio .
- GAAP et i come was $18.2 millio , compa ed to $18.9 millio , which eflects highe i come taxes a d the impact of a o e-time item i the qua te .
- Adjusted EBITDA g ew 41% to $35.5 millio , compa ed to $25.1 millio .
- Ope ati g cash flow was $40.5 millio , compa ed to $19.8 millio .
- The Compa y e ded the thi d qua te of 2026 with $229.1 millio i cash a d cash equivale ts a d o outsta di g debt.
The Compa y also ece tly a ou ced that its Boa d of Di ecto s app oved a $50 millio sha e epu chase p og am.
“We epo ted a eco d thi d qua te , delive i g eve ue g owth of 25% yea -ove -yea , highlighti g the st e gth of ou ma ket positio as a t usted g owth pa t e fo ou custome s,” said Joseph Sa bo , Chief Fi a cial Office a d Chief Admi ist ative Office of Eve Quote. “We a e focused o accele ati g p oduct i ovatio a d u locki g ew possibilities to capitalize o the oppo tu ities ahead. Ou co ti ued st o g g owth a d executio a e e abli g us to i vest i AI i itiatives, while simulta eously ge e ati g st o g cash flow, mai tai i g a fo t ess bala ce sheet a d etu i g capital to sha eholde s.”
- Reve ue of $213.0 – $223.0 millio .
- Va iable Ma keti g Dolla s of $57.0 – $60.0 millio .
- Adjusted EBITDA of $29.0 – $32.0 millio .
Adjusted EBITDA is a o -GAAP fi a cial measu e. Please see “No -GAAP Fi a cial Measu es” below fo mo ei fo matio . With espect to the Compa y’s expectatio s u de “Fou th Qua te 2026 Outlook” above, the Compa y has ot eco ciled Adjusted EBITDA to the most di ectly compa able GAAP measu e, et i come (loss), i this p ess elease because the Compa y does ot p ovide guida ce o a co siste t basis fo stock-based compe satio expe se, dep eciatio a d amo tizatio expe se, i te est i come, i come taxes a d othe items the Compa y believes a e o – ecu i g o ot i dicative of its co e ope ati g pe fo ma ce, because the Compa y is u able to qua tify these amou ts without u easo able effo ts, which would be equi ed to eco cile Adjusted EBITDA to GAAP et i come (loss). I additio , the Compa y believes such a eco ciliatio would imply a deg ee of p ecisio that could be co fusi g o misleadi g to i vesto s.
Eve Quote will host a co fe e ce call a d live webcast to discuss its thi d qua te 2026 fi a cial esults a d othe matte s at 4:30 p.m. Easte Time today, Novembe 2, 2026 a d suppo ti g slides will be available at https://i vesto s.eve quote.com. To access the co fe e ce call, dial Toll F ee: +1 (833) 461-5787 fo the US, o +1 (585) 542-9983 fo i te atio al calle s, a d p ovide co fe e ce ID 867228452. The live webcast a d eplay will be available o the I vesto s sectio of the Compa y’s website at https://i vesto s.eve quote.com.
This p ess elease co tai s fo wa d-looki g stateme ts, withi the mea i g of Sectio 27A of the Secu ities Act of 1933, as ame ded, a d Sectio 21E of the Secu ities Excha ge Act of 1934, as ame ded. All stateme ts othe tha stateme ts of histo ical fact co tai ed i this p ess elease, i cludi g stateme ts ega di g ou futu e esults of ope atio s, fi a cial positio , liquidity a d capital esou ces; ou busi ess st ategy a d pla s, i cludi g ou developme t, deployme t a d mo etizatio of ew a d e ha ced p oducts a d se vices; ou g owth pla s a d i ovatio st ategies; ou expectatio s ega di g i c eased i vestme ts to d ive ou a tificial i tellige ce, o AI, capabilities, i cludi g the costs associated the ewith, the pote tial impact of such i vestme ts o ou fi a cial stateme ts a d esults of ope atio s, i cludi g ope ati g i come, va iable ma keti g dolla s, va iable ma keti g ma gi s a d Adjusted EBITDA, a d the a ticipated be efits of such i vestme ts; t e ds i co sume t affic a d dema d fo ou p oducts a d se vices; ou elatio ships with, a d expected spe di g by, ca ie s a d age ts, i cludi g futu e ca ie dema d a d g owth; objectives of ma ageme t fo futu e ope atio s; a d ou capital allocatio p io ities, a e fo wa d-looki g stateme ts. These stateme ts i volve k ow a d u k ow isks, u ce tai ties, a d othe impo ta t facto s that may cause ou actual esults, pe fo ma ce o achieveme ts to be mate ially diffe e t f om a y futu e esults, pe fo ma ce, o achieveme ts exp essed o implied by the fo wa d-looki g stateme ts. I some cases, you ca ide tify fo wa d-looki g stateme ts by te ms such as “aim,” “may,” “should,” “expects,” “might,” “pla s,” “a ticipates,” “could,” “i te ds,” “goals,” “ta get,” “p ojects,” “co templates,” “believes,” “estimates,” “p edicts,” “pote tial,” “seek,” “will,” “would” o “co ti ues,” o the egative of these te ms o othe simila exp essio s. The fo wa d-looki g stateme ts i this p ess elease a e o ly p edictio s. We have based these fo wa d-looki g stateme ts la gely o ou cu e t expectatio s a d p ojectio s about futu e eve ts a d fi a cial t e ds that we believe may affect ou busi ess, fi a cial co ditio , liquidity a d esults of ope atio s. Although we believe that the expectatio s eflected i the fo wa d-looki g stateme ts a e easo able, we ca ot gua a tee that the futu e esults, levels of activity, pe fo ma ce o eve ts a d ci cumsta ces eflected i the fo wa d-looki g stateme ts will be achieved o occu . These fo wa d-looki g stateme ts speak o ly as of the date of this p ess elease a d, except as equi ed by applicable law, we u de take o obligatio to publicly update o evise a y fo wa d-looki g stateme ts, whethe as a esult of a y ew i fo matio , futu e eve ts o othe wise. Because fo wa d-looki g stateme ts a e i he e tly subject to isks a d u ce tai ties, some of which ca ot be p edicted o qua tified, you should ot ely o these fo wa d-looki g stateme ts as p edictio s of futu e eve ts. The eve ts a d ci cumsta ces eflected i ou fo wa d-looki g stateme ts may ot be achieved o occu a d actual esults could diffe mate ially f om those p ojected i the fo wa d-looki g stateme ts. Facto s that could cause actual esults to diffe mate ially f om ou fo wa d-looki g stateme ts i clude, without limitatio , the followi g: ou depe de ce o eve ue f om the p ope ty a d casualty, o P&C, i su a ce i dust ies, a d specifically automotive i su a ce, a d exposu e to isks elated to those i dust ies; ou depe de ce o ou elatio ships with i su a ce p ovide custome s with o lo g-te m mi imum fi a cial commitme ts a d fu the mo e, ou elia ce o a small umbe of i su a ce p ovide custome s fo a sig ifica t po tio of ou eve ue; adve se co ditio s i the i su a ce ma kets, as well as the ge e al eco omy; ou depe de ce o thi d-pa ty media sou ces fo a sig ifica t po tio of visito s to ou websites a d ma ketplace; ou ability to att act co sume s to ou websites a d ma ketplace; ou ability to ma ket to co sume s o collect, sha e a d use data de ived f om co sume activities; isks elated to AI, i cludi g ou expected i c eased use of a d i vestme t i AI capabilities, a d the costs associated the ewith; isks elated to cybe secu ity i cide ts o othe etwo k dis uptio s; ou ability to develop ew a d e ha ced p oducts a d se vices a d to successfully mo etize them; the impact of competitio i ou i dust y a d i ovatio by ou competito s; ou ability to stay ab east of a d comply with ew o modified laws a d egulatio s that cu e tly apply o become applicable to ou busi ess, i cludi g with espect to the i su a ce i dust y, telema keti g est ictio s a d data p ivacy equi eme ts; a d ou ability to p otect ou i tellectual p ope ty ights a d mai tai a d build ou b a d. A fu the list a d desc iptio of isks, u ce tai ties a d assumptio s that could cause o co t ibute to diffe e ces i ou futu e esults i clude the cautio a y stateme ts desc ibed i Pa t I, Item 1A. Risk Facto s i ou A ual Repo t o Fo m 10-K fo the yea e ded Decembe 31, 2025 a d i ou subseque t pe iodic fili gs with the Secu ities a d Excha ge Commissio . We qualify all of ou fo wa d-looki g stateme ts by these cautio a y stateme ts.
Eve Quote (Nasdaq: EVER) is a leadi g AI-powe ed g owth solutio s pa t e fo egulated p ope ty a d casualty i su a ce e tities, e abli g the la gest i su a ce ca ie s a d thousa ds of age ts to maximize custome acquisitio ac oss digital cha els. Fueled by ou p op ieta y data assets a d ou AI t affic e gi e, Eve Quote is t a sfo mi g the way p ovide s att act a d e gage co sume s to g ow ma ket sha e. To lea mo e visit i vesto s.eve quote.com.
Sa a BudaEve Quotesa a.buda@eve quote.com
| EVERQUOTE, INC.STATEMENTS OF OPERATIONS | (i thousa ds except pe sha e) | Reve ue | $ | 218,077 | $ | 173,940 | $ | 604,015 | $ | 497,201 | Cost a d ope ati g expe ses(1): | Cost of eve ue | 4,632 | 4,712 | 13,256 | 14,934 | Sales a d ma keti g | 164,951 | 135,362 | 457,976 | 385,847 | Resea ch a d developme t | 9,027 | 7,944 | 27,004 | 23,201 | Ge e al a d admi ist ative | 15,533 | 8,382 | 34,944 | 25,282 | Legal settleme t | — | — | — | 8,232 | Total cost a d ope ati g expe ses | 194,143 | 156,400 | 533,180 | 457,496 | I come f om ope atio s | 23,934 | 17,540 | 70,835 | 39,705 | Othe i come (expe se): | I te est i come | 1,224 | 992 | 3,235 | 2,618 | Othe i come (expe se), et | (41 | ) | (12 | ) | (79 | ) | (65 | ) | Total othe i come, et | 1,183 | 980 | 3,156 | 2,553 | I come befo e i come taxes | 25,117 | 18,520 | 73,991 | 42,258 | I come tax be efit (expe se) | (6,965 | ) | 345 | (17,980 | ) | (702 | ) | Net i come | $ | 18,152 | $ | 18,865 | $ | 56,011 | $ | 41,556 | Net i come pe sha e: | Basic | $ | 0.51 | $ | 0.52 | $ | 1.58 | $ | 1.15 | Diluted | $ | 0.49 | $ | 0.50 | $ | 1.53 | $ | 1.10 | Weighted ave age commo sha es outsta di g, basic a d diluted: | Basic | 35,379 | 36,218 | 35,499 | 36,143 | Diluted | 36,928 | 37,731 | 36,676 | 37,804 | (1) Amou ts i clude stock-based compe satio expe se, as follows: | (i thousa ds) | Cost of eve ue | $ | 34 | $ | 39 | $ | 97 | $ | 87 | Sales a d ma keti g | 984 | 2,289 | 3,328 | 5,860 | Resea ch a d developme t | 1,887 | 1,778 | 5,032 | 4,706 | Ge e al a d admi ist ative | 3,665 | 2,622 | 8,926 | 8,055 | $ | 6,570 | $ | 6,728 | $ | 17,383 | $ | 18,708 |
| EVERQUOTE, INC.BALANCE SHEET DATA | (i thousa ds) | Cash a d cash equivale ts | $ | 229,070 | $ | 171,379 | Wo ki g capital | 221,328 | 169,067 | Total assets | 378,677 | 326,913 | Total liabilities | 97,815 | 88,873 | Total stockholde s’ equity | 280,862 | 238,040 |
| EVERQUOTE, INC.STATEMENTS OF CASH FLOWS | (i thousa ds) | Net i come | $ | 18,152 | $ | 18,865 | $ | 56,011 | $ | 41,556 | Adjustme ts to eco cile et i come to et cash p ovided by ope ati g activities: | Dep eciatio a d amo tizatio expe se | 988 | 811 | 2,744 | 2,950 | Stock-based compe satio expe se | 6,570 | 6,728 | 17,383 | 18,708 | Defe ed taxes | 4,931 | — | 12,949 | — | P ovisio fo bad debt | — | 10 | — | 10 | U ealized fo eig cu e cy t a sactio (gai s) losses | 6 | (14 | ) | (31 | ) | 96 | Litigatio acc ual settled with sale of assets | — | — | — | 7,841 | Cha ges i ope ati g assets a d liabilities: | Accou ts eceivable | (3,921 | ) | (13,229 | ) | (4,796 | ) | (6,843 | ) | P epaid expe ses a d othe cu e t assets | (225 | ) | (3,693 | ) | 185 | (4,688 | ) | Commissio s eceivable, cu e t a d o -cu e t | — | — | — | 1,873 | Ope ati g lease ight-of-use assets | 312 | 285 | 916 | 833 | Accou ts payable | 13,388 | 8,955 | 6,808 | 7,937 | Acc ued expe ses a d othe cu e t liabilities | 617 | 1,599 | 3,026 | (689 | ) | Defe ed eve ue | (15 | ) | (257 | ) | 148 | (376 | ) | Ope ati g lease liabilities | (321 | ) | (292 | ) | (939 | ) | (837 | ) | Net cash p ovided by ope ati g activities | 40,482 | 19,768 | 94,404 | 68,371 | Acquisitio of p ope ty a d equipme t, i cludi g costs capitalized fo developme t of i te al-use softwa e | (1,830 | ) | (1,302 | ) | (4,932 | ) | (3,896 | ) | Pu chase of st ategic i vestme t | (1,250 | ) | — | (1,250 | ) | — | Net cash used i i vesti g activities | (3,080 | ) | (1,302 | ) | (6,182 | ) | (3,896 | ) | P oceeds f om exe cise of stock optio s | 525 | 1,059 | 1,510 | 3,394 | Repu chase of commo stock | — | (21,024 | ) | (29,000 | ) | (21,024 | ) | Tax withholdi g payme ts elated to et sha e settleme t | (1,171 | ) | (918 | ) | (3,038 | ) | (3,197 | ) | Net cash used i fi a ci g activities | (646 | ) | (20,883 | ) | (30,528 | ) | (20,827 | ) | Effect of excha ge ate cha ges o cash, cash equivale ts a d est icted cash | (4 | ) | (5 | ) | (3 | ) | 2 | 36,752 | (2,422 | ) | 57,691 | 43,650 | Cash, cash equivale ts a d est icted cash at begi i g of pe iod | 192,318 | 148,188 | 171,379 | 102,116 | Cash, cash equivale ts a d est icted cash at e d of pe iod | $ | 229,070 | $ | 145,766 | $ | 229,070 | $ | 145,766 |
| EVERQUOTE, INC.FINANCIAL AND OPERATING METRICS |
Reve ue by ve tical:
| (i thousa ds) | Automotive | $ | 190,389 | $ | 157,641 | 20.8 | % | Home a d e te s | 27,688 | 16,290 | 70.0 | % | Othe | — | 9 | -100.0 | % | Total eve ue | $ | 218,077 | $ | 173,940 | 25.4 | % |
| (i thousa ds) | Automotive | $ | 534,826 | $ | 449,940 | 18.9 | % | Home a d e te s | 69,189 | 47,228 | 46.5 | % | Othe | — | 33 | -100.0 | % | Total eve ue | $ | 604,015 | $ | 497,201 | 21.5 | % |
Othe fi a cial a d o -fi a cial met ics:
| (i thousa ds) | I come f om ope atio s | $ | 23,934 | $ | 17,540 | 36.5 | % | Net i come | $ | 18,152 | $ | 18,865 | -3.8 | % | Va iable ma keti g dolla s | $ | 62,633 | $ | 50,140 | 24.9 | % | Adjusted EBITDA(1) | $ | 35,451 | $ | 25,067 | 41.4 | % |
| (i thousa ds) | I come f om ope atio s | $ | 70,835 | $ | 39,705 | 78.4 | % | Net i come | $ | 56,011 | $ | 41,556 | 34.8 | % | Va iable ma keti g dolla s | $ | 175,428 | $ | 142,520 | 23.1 | % | Adjusted EBITDA(1) | $ | 94,883 | $ | 69,530 | 36.5 | % |
(1) Adjusted EBITDA is a o -GAAP measu e. Please see “No -GAAP Fi a cial Measu es” below fo mo e i fo matio .
No -GAAP Fi a cial Measu es
To suppleme t the Compa y’s fi a cial stateme ts p ese ted i acco da ce with GAAP a d to p ovide i vesto s with additio al i fo matio ega di g Eve Quote’s fi a cial esults, the Compa y has p ese ted Adjusted EBITDA as a o -GAAP fi a cial measu e. Adjusted EBITDA is ot based o a y sta da dized methodology p esc ibed by GAAP a d is ot ecessa ily compa able to simila ly titled measu es p ese ted by othe compa ies.
The Compa y defi es Adjusted EBITDA as et i come (loss), excludi g the impact of stock-based compe satio expe se; dep eciatio a d amo tizatio expe se; i te est i come; i come taxes; a d othe items that we believe a e o – ecu i g o ot i dicative of ou co e ope ati g pe fo ma ce. The most di ectly compa able GAAP fi a cial measu e is et i come (loss). The Compa y mo ito s a d p ese ts Adjusted EBITDA because it is a key measu e used by ma ageme t a d the boa d of di ecto s to u de sta d a d evaluate ope ati g pe fo ma ce, to establish budgets a d to develop ope atio al goals fo ma agi g Eve Quote’s busi ess. I pa ticula , the Compa y believes that excludi g the impact of these items i calculati g Adjusted EBITDA ca p ovide a useful measu e fo pe iod-to-pe iod compa iso s of Eve Quote’s co e ope ati g pe fo ma ce.
The Compa y uses Adjusted EBITDA to evaluate Eve Quote’s ope ati g pe fo ma ce a d t e ds a d make pla i g decisio s. The Compa y believes that this o -GAAP fi a cial measu e helps ide tify u de lyi g t e ds i Eve Quote’s busi ess that could othe wise be masked by the effect of the items that the Compa y excludes i the calculatio s of Adjusted EBITDA. Acco di gly, the Compa y believes that this fi a cial measu e p ovides useful i fo matio to i vesto s a d othe s i u de sta di g a d evaluati g Eve Quote’s ope ati g esults, e ha ci g the ove all u de sta di g of the Compa y’s past pe fo ma ce a d futu e p ospects.
Adjusted EBITDA is ot p epa ed i acco da ce with GAAP a d should ot be co side ed i isolatio of, o as a alte ative to, measu es p epa ed i acco da ce with GAAP. Adjusted EBITDA should be co side ed togethe with othe ope ati g a d fi a cial pe fo ma ce measu es p ese ted i acco da ce with GAAP. The e a e a umbe of limitatio s elated to the use of Adjusted EBITDA athe tha et i come (loss). I additio , othe compa ies may use othe measu es to evaluate thei pe fo ma ce, which may educe the useful ess of the Compa y’s o -GAAP fi a cial measu es as tools fo compa iso .
The followi g table eco ciles Adjusted EBITDA to et i come (loss), the most di ectly compa able fi a cial measu e calculated a d p ese ted i acco da ce with GAAP:
| EVERQUOTE, INC.RECONCILIATION OF NON-GAAP MEASURES TO GAAP | (i thousa ds) | Net i come | $ | 18,152 | $ | 18,865 | $ | 56,011 | $ | 41,556 | Stock-based compe satio | 6,570 | 6,728 | 17,383 | 18,708 | Dep eciatio a d amo tizatio | 988 | 811 | 2,744 | 2,950 | I te est i come | (1,224 | ) | (992 | ) | (3,235 | ) | (2,618 | ) | I come taxes | 6,965 | (345 | ) | 17,980 | 702 | Othe : | Ve do co t act te mi atio (1) | 4,000 | — | 4,000 | — | Legal settleme t(2) | — | — | — | 8,232 | Adjusted EBITDA | $ | 35,451 | $ | 25,067 | $ | 94,883 | $ | 69,530 |
(1) Du i g the th ee a d i e mo ths e ded Septembe 30, 2026, we te mi ated a multi-yea ve do co t act fo adve tisi g se vices with a $15.5 millio emai i g commitme t i excha ge fo a payme t of $4.0 millio .
(2) Du i g the i e mo ths e ded Septembe 30, 2025, we eco ded legal settleme t costs elated to the settleme t of ou litigatio with the fo me ow e s of ce tai e tities acqui ed i 2021.
