Everquote ( (EVER) ) has released its Q4 earnings. Here is a breakdown of the information Everquote presented to its investors.
EverQuote, Inc. operates a leading online marketplace for insurance shopping, connecting consumers with insurance providers, primarily in the property and casualty insurance sector. The company is known for its data-driven approach to enhancing consumer-provider connections.
EverQuote has reported a robust financial performance for the fourth quarter and full year 2024, with significant revenue growth and profitability. The company’s revenue for the fourth quarter reached $147.5 million, marking a 165% increase year-over-year, while the full year revenue grew by 74% to surpass $500 million for the first time.
Key financial highlights include a fourth-quarter net income of $12.3 million and an adjusted EBITDA of $18.9 million. For the full year, EverQuote achieved a net income of $32.2 million and an operating cash flow of $66.6 million. The automotive insurance vertical was a major contributor, with revenue increasing by over 200% in the fourth quarter and 96% for the year.
Looking ahead, EverQuote plans to continue strategic investments in its technology platform to enhance product offerings and support its insurance provider customers. The company aims to maintain its growth momentum and profitability into 2025, leveraging its expertise in traffic, data, and technology.