EverQuote Revenue Growth Reaccelerates After a Slow First Quarter

The Tip Desk · August 4, 2026 · 3 min read

Second-quarter revenue reached $195.1 million, up 25% from a year earlier, after 15% growth in the first quarter, and Adjusted EBITDA hit a record $30.1 million.

EverQuote, Inc. (EVER) reported second-quarter revenue of $195.1 million, up 25% from a year earlier, after 15% growth in the first quarter. The AI-powered growth-solutions provider for property and casualty insurers said the rebound in the pace of sales growth coincided with record Adjusted EBITDA of $30.1 million, up 37% from $22.0 million a year earlier, after 30% growth in the prior quarter.

Automotive insurance, the core of the marketplace, generated $172.1 million, up 23% from a year earlier, after 13% growth in the first quarter. Home and renters insurance contributed $23.0 million, up 35%. Variable Marketing Dollars, which the company defines as revenue less advertising costs, were $56.9 million, up 25% from $45.5 million a year earlier.

GAAP net income was $19.2 million, or $0.53 a share on a diluted basis, compared with $14.7 million, or $0.39 a share, a year earlier. Income from operations was $23.5 million. Adjusted EBITDA margin expanded to 15.4% from 14.0% a year earlier. Operating cash flow was $24.3 million.

Chief Executive Jayme Mendal said the quarter marked another period of execution as the company helps P&C providers maximize customer acquisition across digital channels. Chief Financial Officer Joseph Sanborn said positive results demonstrated a strong market position, a healthy demand environment, and relationships with carriers and agents seeking to grow their businesses. The company ended June 30 with $192.3 million in cash and cash equivalents and no outstanding debt.

During the quarter, EverQuote repurchased 578,000 shares for approximately $9.1 million. Sanborn said ongoing momentum reinforces confidence in a previously stated path to $1 billion in revenue and allows the company to continue investing in AI innovation and new product development. Mendal said the company will introduce new solutions that harness data, intelligence, and AI in the second half of the year.

For the third quarter of 2026, EverQuote expects revenue of $198.0 million to $208.0 million, Variable Marketing Dollars of $56.0 million to $59.0 million, and Adjusted EBITDA of $28.0 million to $31.0 million. The outlook indicates healthy demand as carriers continue to target growth across digital channels.

The first-quarter print had already exceeded guidance across all metrics, with revenue of $190.9 million and Adjusted EBITDA of $29.3 million. Automotive revenue in that quarter was $172.4 million, and home and renters revenue was $18.5 million. Variable Marketing Dollars were $55.9 million. Operating cash flow in the first quarter was $29.6 million. Cash at the end of the first quarter was $178.5 million. The company then repurchased 1.1 million shares for approximately $19.9 million during that period.

Sales and marketing expense in the second quarter was $147.6 million. Research and development expense was $9.4 million, and general and administrative expense was $10.2 million. Cost of revenue was $4.4 million. Stock-based compensation totaled $5.7 million. Interest income was $1.1 million. Income tax expense was $5.3 million.

The company describes itself as a leading AI-powered growth-solutions partner for regulated P&C insurance entities, enabling the largest carriers and thousands of agents to maximize customer acquisition across digital channels. Mendal’s comments framed the quarter as building on a commitment to help P&C providers grow market share, while Sanborn pointed to demand from carriers and agents. The third-quarter ranges sit above the second-quarter actuals for revenue and Variable Marketing Dollars, with Adjusted EBITDA guidance overlapping the record just reported.