EverQuote (EVER) Earnings Date & Reports

Key Takeaways

• Revenue rose 25% year over year to $218.1 million, beating the roughly $203.2 million consensus estimate and clearing management's own guidance range of $198 million to $208 million.
• GAAP net income was $18.2 million, with diluted earnings per share of $0.49, essentially in line with analyst expectations.
• Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 41% to $35.5 million, above guidance, at a 16.3% margin.
• The home and renters vertical surged 70% to $27.7 million, while auto insurance grew 21% to $190.4 million.
• Fourth-quarter guidance calls for revenue of $213 million to $223 million and adjusted EBITDA of $29 million to $32 million.
• The company ended the quarter with $229.1 million in cash, no debt, and a newly authorized $50 million share repurchase program.
• For more context on EverQuote's Major News, Today's Price Move, Price Targets, and Forecast, explore Tickeron's dedicated EverQuote pages.
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Earnings Context and Why It Matters

EverQuote operates an online marketplace that connects consumers with property and casualty (P&C) insurance providers, generating revenue by selling referrals to carriers and agents. Its third-quarter 2026 report matters because it tests whether the company can sustain rapid growth while insurers continue spending on customer acquisition during a prolonged "soft market" cycle. EverQuote has now delivered two consecutive quarters of 25% revenue growth, and management has publicly targeted $1 billion in annual revenue within the next one to two years. Investors are also watching how aggressively the company invests in artificial intelligence and agentic commerce, which could reshape its long-term economics even as it pressures near-term margins.

Reported Results

EverQuote reported third-quarter 2026 revenue of $218.1 million, up 25% from $173.9 million a year earlier and above the $203.2 million consensus estimate. The result also exceeded the company's own guidance range of $198 million to $208 million. GAAP net income was $18.2 million, down from $18.9 million in the prior-year period, while diluted earnings per share came in at $0.49 versus $0.50 a year ago. The year-over-year decline in GAAP net income primarily reflected higher income tax expense and a one-time $4 million vendor-contract termination fee.

Adjusted EBITDA rose 41% year over year to $35.5 million, exceeding management's $28 million to $31 million outlook. Variable marketing dollars (VMD), a key measure of total ad spend managed for partners, increased 25% to $62.6 million, while variable marketing margin (VMM) was 28.7%. By segment, auto insurance revenue grew 21% to $190.4 million, and home and renters revenue climbed 70% to $27.7 million. Operating cash flow reached $40.5 million, and the company held $229.1 million in cash with no debt.

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Market Reaction and Investor Sentiment

EverQuote shares rose in after-hours trading following the release, reflecting a strong beat-and-raise quarter. The stock had closed at $24.27 on November 2, 2026, up about 8% over the prior twelve months. Investor sentiment was buoyed by broad-based demand, with eight of the company's top ten carrier customers growing sequentially, and by management's commentary that insurer combined ratios remain low and the industry is still in the early stages of a prolonged soft market cycle. At the same time, the market weighed the company's deliberate near-term margin investment in agentic AI channels, which management signaled would reduce variable marketing margin sequentially in the fourth quarter.

Forward Outlook and Key Factors to Monitor

EverQuote guided fourth-quarter 2026 revenue to between $213 million and $223 million, implying roughly 12% year-over-year growth at the midpoint. It expects adjusted EBITDA of $29 million to $32 million, or about 22% growth at the midpoint, and variable marketing dollars of $57 million to $60 million. Management cautioned that variable marketing margin should decline sequentially as the company invests in new agentic and large-language-model channels.

Several catalysts are worth watching in the coming quarters. First, the October 2026 launch of Luva, a conversational insurance shopping platform built for AI-first consumers, represents EverQuote's entry into "agentic commerce," where shopping is facilitated by AI assistants rather than traditional web search. Its adoption and monetization remain early-stage and uncertain.

Second, investors should monitor whether the home and renters vertical can sustain elevated growth as carriers lean into that opportunity, while recognizing that management does not expect the 70% growth rate to continue indefinitely. Finally, the company's path toward its $1 billion annual revenue goal, margin trends amid AI investment, and any shift in carrier demand during the soft market cycle will be key signals to track in upcoming reports.

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