Powerpack

Unlock full stockrow access for only $9.90/month and boost yourself as an investor.

  • Full quarterly history

    Every quarter and TTM period we hold, not just the last 12.

  • Analyst estimates

    Three years of forward estimates and dividend forecasts.

  • Unlimited screener

    All results, unlimited saved screens, email when a screen changes.

  • Unlimited Excel

    Full workbooks and screener exports.

  • Unlimited follows

See Powerpack
Screener Weekly Summary Pricing

EverQuote, Inc. EVER

Communication Services  —  Internet Content & Information
18.64 0.58 3.21% as of 25 Sep
Market cap
$636.4M
P/E
5.8×
Dividend Champion (5y) Cash Flow Champion (3y)
Growth Flags show if company had growth for consecutive years
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

EverQuote, Inc. (EVER) Business Profile

Updated before January 2025

Company Overview

EverQuote, Inc. (NASDAQ: EVER) is a leading online marketplace for insurance shopping, connecting consumers with insurance providers. Founded in 2011 by Seth Birnbaum, Tomas Revesz, and David Blundin, the company is headquartered in Cambridge, Massachusetts. EverQuote was established with the mission of simplifying the insurance shopping process by leveraging data and technology to match consumers with personalized insurance options.

The company went public in June 2018, raising significant capital to expand its operations and enhance its technology platform. EverQuote’s leadership team includes key executives such as Jayme Mendal, who serves as the Chief Executive Officer, and John Wagner, the Chief Financial Officer. Together, they have steered the company toward becoming a dominant player in the insurtech space.

Core Business Segments

EverQuote operates primarily as an online insurance marketplace, offering a range of products and services that cater to both consumers and insurance providers. The company’s core business segments include:

1. Auto Insurance

Auto insurance is EverQuote’s largest and most prominent segment. The platform allows consumers to compare quotes from multiple auto insurance providers, helping them find the best coverage at competitive rates. This segment accounts for a significant portion of the company’s revenue.

2. Home and Renters Insurance

EverQuote also provides a marketplace for home and renters insurance. Consumers can compare policies that protect their homes, belongings, and liabilities. This segment has been growing steadily as the company expands its offerings beyond auto insurance.

3. Life Insurance

The life insurance segment enables consumers to explore various life insurance policies, including term life, whole life, and universal life insurance. EverQuote partners with leading life insurance providers to offer a wide range of options.

4. Health Insurance

EverQuote’s health insurance marketplace helps consumers find coverage that suits their medical needs and budgets. This includes individual health plans, family plans, and Medicare options.

5. Commercial Insurance

The company also caters to small businesses by offering commercial insurance products such as general liability, workers’ compensation, and commercial auto insurance.

6. Other Insurance Products

In addition to the major categories, EverQuote provides access to niche insurance products, including pet insurance, travel insurance, and specialty coverage.

Business Model

EverQuote operates as a performance-based marketing platform, generating revenue by connecting insurance providers with high-intent consumers. The company’s business model revolves around:

  • Lead Generation: EverQuote collects consumer data through its website and mobile app, where users input their insurance needs. This data is then used to generate leads for insurance providers.
  • Marketplace Revenue: Insurance providers pay EverQuote for access to these leads, either on a cost-per-click (CPC) or cost-per-lead (CPL) basis.
  • Data-Driven Insights: EverQuote leverages advanced algorithms and machine learning to analyze consumer behavior and optimize the matching process between consumers and insurers.
  • Advertising Revenue: The platform also generates revenue through targeted advertising, allowing insurance providers to promote their products to a highly relevant audience.

Strategic Direction

EverQuote’s strategic direction focuses on growth, innovation, and diversification. Key initiatives include:

  • Expansion of Product Offerings: The company aims to broaden its portfolio by adding new insurance categories and enhancing existing ones.
  • Technology Investments: EverQuote continues to invest in artificial intelligence and machine learning to improve its matching algorithms and user experience.
  • Geographic Expansion: While primarily focused on the U.S. market, EverQuote is exploring opportunities to expand its services internationally.
  • Sustainability Goals: The company is committed to reducing its environmental footprint by adopting sustainable business practices and promoting digital insurance solutions.
  • Partnerships and Acquisitions: EverQuote seeks to strengthen its market position through strategic partnerships and acquisitions that complement its core business.

Competitive Landscape

EverQuote operates in a highly competitive market, facing competition from both traditional and digital players. Key competitors include:

  • Insurtech Companies: Competitors like Policygenius, The Zebra, and Compare.com offer similar online insurance marketplaces.
  • Traditional Insurance Providers: Large insurance companies such as GEICO, Progressive, and State Farm have robust online platforms that compete with EverQuote.
  • Search Engines and Aggregators: Platforms like Google and NerdWallet also provide insurance comparison tools, posing indirect competition.

Risk Factors

EverQuote faces several risks that could impact its business operations and financial performance:

  • Market Dependence: The company relies heavily on the insurance industry, making it vulnerable to fluctuations in demand for insurance products.
  • Regulatory Challenges: Changes in insurance regulations or data privacy laws could affect EverQuote’s operations.
  • Competition: Intense competition from both established players and new entrants could erode market share.
  • Economic Conditions: Economic downturns may reduce consumer spending on insurance, impacting lead generation and revenue.
  • Technology Risks: As a technology-driven company, EverQuote is exposed to risks such as cybersecurity threats and system failures.

Recent Developments

EverQuote has made significant strides in recent years, including:

  • Product Innovations: The company has introduced new tools and features to enhance the user experience, such as personalized recommendations and real-time quote comparisons.
  • Partnerships: EverQuote has formed partnerships with leading insurance providers to expand its network and improve service offerings.
  • Financial Performance: Despite challenges posed by the COVID-19 pandemic, EverQuote has demonstrated resilience, reporting steady revenue growth.
  • Technological Advancements: The company continues to refine its AI-driven algorithms to improve lead quality and conversion rates.

Investment Considerations

Investors considering EverQuote should weigh the following factors:

Strengths

  • Market Leadership: EverQuote is a well-established player in the insurtech space with a strong brand presence.
  • Scalable Business Model: The company’s performance-based revenue model offers significant growth potential.
  • Technological Edge: EverQuote’s use of AI and data analytics provides a competitive advantage.

Risks

  • Dependence on Insurance Providers: The company’s revenue is closely tied to its relationships with insurance providers.
  • Regulatory Risks: Compliance with evolving regulations could increase operational costs.
  • Market Volatility: Economic and industry-specific challenges could impact financial performance.

Conclusion

EverQuote, Inc. is a leading player in the insurtech industry, offering a comprehensive online marketplace for insurance shopping. With a strong focus on technology and innovation, the company is well-positioned to capitalize on the growing demand for digital insurance solutions. While challenges such as competition and regulatory risks persist, EverQuote’s scalable business model and strategic initiatives provide a solid foundation for future growth. As the company continues to expand its offerings and enhance its technology platform, it remains an attractive option for both consumers and investors.