EverQuote has recently released its latest 10-Q report. EverQuote, Inc. runs an online insurance-shopping marketplace in the U.S., focused on auto, home and renters coverage, and it also offers campaign management tools for insurers and agents. The company, incorporated in 2008 and based in Cambridge, Massachusetts, was formerly known as AdHarmonics, Inc. before changing its name in November 2014.
In Item 2, Management’s Discussion and Analysis, EverQuote said revenue rose 14.5% year over year to $190.9 million in the three months ended March 31, 2026, from $166.6 million a year earlier. Net income increased to $18.7 million from $8.0 million, while adjusted EBITDA rose to $29.3 million from $22.5 million. The company said 90% of first-quarter 2026 revenue came from auto insurance providers, down from 92% a year earlier, and that revenue from its largest auto insurance carrier customer accounted for 40% of revenue in the quarter. Revenue from automotive insurance was $172.4 million, up from $152.7 million, and home and renters revenue increased to $18.5 million from $13.9 million.
EverQuote said its business depends heavily on auto insurance industry spending, noting that carrier demand was hurt in 2022 and 2023 by claims inflation and inadequate premiums. It also said growth depends on expanding consumer traffic and increasing the number of insurance providers and their spend in its marketplace. The company described revenue as coming mainly from consumer inquiries sold as referrals, recognized when delivered, through clicks, data submissions and calls.
On expenses, EverQuote said cost of revenue is driven mainly by technology services, data services, third-party call center costs, depreciation and personnel costs. Sales and marketing expense is tied largely to advertising and consumer acquisition, while research and development is concentrated on software development and product management. General and administrative expense includes executive, finance, legal, human resources and other support costs. The company also said it expects revenue, sales and marketing expense, R&D expense and G&A expense to increase in 2026, and that its tax rate should rise after the release of its valuation allowance in the fourth quarter of 2025. Today the company's shares have moved 60.78% to a price of $23.49. Check out the company's full 10-Q submission here.
