Everquote Inc is a technology-driven insurance marketplace that connects consumers with insurance providers
The company offers a platform where individuals can compare quotes for various types of insurance, including auto, home, and life insurance, allowing them to make informed decisions based on their needs and preferences. By leveraging data analytics and advanced technology, Everquote aims to simplify the insurance shopping process, enhancing customer experience while helping insurance companies reach a broader audience.
Growth is a hallmark of all great companies, but the laws of gravity eventually take hold.
Those who rode the COVID boom and ensuing tech selloff in 2022 will surely remember that the market’s punishment can be swift and severe when trajectories fall.
Shares of online insurance comparison site EverQuote (NASDAQEVER) jumped 31.5% in the pre-market session after the company reported a standout Q4 2024 result, with revenue and EBITDA significantly crushing Wall Street's estimates. Sales soared 165% compared to the previous year, fueled by a considerable rebound in the automotive insurance segment, which more than tripled. This sharp recovery highlights improving industry conditions and the company's ability to capitalize.
On the profitability side, things looked even better. Adjusted EBITDA hit $18.9 million, flipping from a loss last year, thanks to strong margin expansion.
Looking ahead, the company's first-quarter EBITDA guidance significantly exceeds analyst expectations, with a projected midpoint growth of 163% relative to the previous year.
Zooming out, this was a solid quarter, marked by rapid growth, improved profitability, and strong guidance.
Online insurance comparison site EverQuote (NASDAQEVER) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 165% year on year to $147.5 million. On top of that, next quarter’s revenue guidance ($157.5 million at the midpoint) was surprisingly good and 14.3% above what analysts were expecting. Its GAAP profit of $0.33 per share was 67.9% above analysts’ consensus estimates.
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