EverQuote Announces Third Quarter 2026 Financial Results
EverQuote, Inc. (EVER) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 EverQuote Announces Third Quarter 2026 Financial Results ● Grows revenue 25% year-over-year to $218.1 million ● Delivers net income of $18.2 million and grows Adjusted EBITDA 41% year-over-year ● Exceeds Q3 guidance and delivers record results on all key metrics ● Is
How this was made
The 30-second read
Why it matters
The earnings beat and guidance suggest continued momentum, but higher marketing expenses and AI investment may temper enthusiasm.
Market read
The release provides fresh earnings data and guidance, offering a clear catalyst for short‑term trading decisions.
What to watch
Potential headwinds from rising marketing spend and AI investment costs could pressure margins.
EverQuote Announces Third Quarter 2026 Financial Results
Third-quarter revenue grew 25.4%, income from operations grew 36.5%, Adjusted EBITDA grew 41.4%, and operating cash flow was $40,482 (in thousands). The company also issued fourth-quarter revenue guidance of $213.0 – $223.0 million and Adjusted EBITDA guidance of $29.0 – $32.0 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenue, three months ended September 30, 2026GAAP | $218.1M | – | 25.4% |
| Total revenue, nine months ended September 30, 2026GAAP | $604.0M | – | 21.5% |
| Cost of revenue, three months ended September 30, 2026GAAP | $4.63M | – | – |
| Cost of revenue, nine months ended September 30, 2026GAAP | $13.26M | – | – |
| Sales and marketing expense, three months ended September 30, 2026GAAP | $165.0M | – | – |
| Sales and marketing expense, nine months ended September 30, 2026GAAP | $458.0M | – | – |
| Research and development expense, three months ended September 30, 2026GAAP | $9.03M | – | – |
| Research and development expense, nine months ended September 30, 2026GAAP | $27.00M | – | – |
| General and administrative expense, three months ended September 30, 2026GAAP | $15.53M | – | – |
| General and administrative expense, nine months ended September 30, 2026GAAP | $34.94M | – | – |
| Legal settlement, nine months ended September 30, 2026GAAP | — | – | – |
| Total cost and operating expenses, three months ended September 30, 2026GAAP | $194.1M | – | – |
| Total cost and operating expenses, nine months ended September 30, 2026GAAP | $533.2M | – | – |
| Income from operations, three months ended September 30, 2026GAAP | $23.93M | – | 36.5% |
| Income from operations, nine months ended September 30, 2026GAAP | $70.83M | – | 78.4% |
| Interest income, three months ended September 30, 2026GAAP | $1.22M | – | – |
| Interest income, nine months ended September 30, 2026GAAP | $3.23M | – | – |
| Income before income taxes, three months ended September 30, 2026GAAP | $25.12M | – | – |
| Income before income taxes, nine months ended September 30, 2026GAAP | $73.99M | – | – |
| Income tax benefit (expense), three months ended September 30, 2026GAAP | −$6.96M | – | – |
| Income tax benefit (expense), nine months ended September 30, 2026GAAP | −$17.98M | – | – |
| Net income, three months ended September 30, 2026GAAP | $18.15M | – | -3.8% |
| Net income, nine months ended September 30, 2026GAAP | $56.01M | – | 34.8% |
| Basic net income per share, three months ended September 30, 2026GAAP | $0.51 | – | – |
| Diluted net income per share, three months ended September 30, 2026GAAP | $0.49 | – | – |
| Basic net income per share, nine months ended September 30, 2026GAAP | $1.58 | – | – |
| Diluted net income per share, nine months ended September 30, 2026GAAP | $1.53 | – | – |
| Variable marketing dollars, three months ended September 30, 2026other | $62.63M | – | 24.9% |
| Variable marketing dollars, nine months ended September 30, 2026other | $175.4M | – | 23.1% |
| Adjusted EBITDA, three months ended September 30, 2026non-GAAP | $35.45M | – | 41.4% |
| Adjusted EBITDA, nine months ended September 30, 2026non-GAAP | $94.88M | – | 36.5% |
| Stock-based compensation expense, three months ended September 30, 2026GAAP | $6.57M | – | – |
| Stock-based compensation expense, nine months ended September 30, 2026GAAP | $17.38M | – | – |
| Depreciation and amortization expense, three months ended September 30, 2026GAAP | $988K | – | – |
| Depreciation and amortization expense, nine months ended September 30, 2026GAAP | $2.74M | – | – |
| Net cash provided by operating activities, three months ended September 30, 2026GAAP | $40.48M | – | – |
| Net cash provided by operating activities, nine months ended September 30, 2026GAAP | $94.40M | – | – |
| Acquisition of property and equipment, including costs capitalized for development of internal-use software, three months ended September 30, 2026GAAP | −$1.83M | – | – |
| Acquisition of property and equipment, including costs capitalized for development of internal-use software, nine months ended September 30, 2026GAAP | −$4.93M | – | – |
| Cash and cash equivalents, September 30, 2026GAAP | $229.1M | – | – |
| Working capital, September 30, 2026GAAP | $221.3M | – | – |
| Total assets, September 30, 2026GAAP | $378.7M | – | – |
| Total liabilities, September 30, 2026GAAP | $97.81M | – | – |
| Total stockholders' equity, September 30, 2026GAAP | $280.9M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Automotive, three months ended September 30, 2026Carrier and agent customer demand; carriers maintained strong underwriting profitability and an appetite for growth. | $190.4M | – | 20.8% |
| Home and renters, three months ended September 30, 2026Not separately stated. | $27.69M | – | 70.0% |
| Other, three months ended September 30, 2026Not separately stated. | — | – | -100.0% |
| Automotive, nine months ended September 30, 2026Not separately stated. | $534.8M | – | 18.9% |
| Home and renters, nine months ended September 30, 2026Not separately stated. | $69.19M | – | 46.5% |
| Other, nine months ended September 30, 2026Not separately stated. | — | – | -100.0% |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Fourth Quarter 2026 outlook
- Revenue$213.0 – $223.0 million
- NoteVariable Marketing Dollars of $57.0 – $60.0 million.
- NoteAdjusted EBITDA of $29.0 – $32.0 million.
Capital returns
- The Board of Directors approved a $50 million share repurchase program.
- Repurchase of common stock, nine months ended September 30, 2026: $(29,000) (in thousands).
- Repurchase of common stock, three months ended September 30, 2026: —.
What drove it
- Total revenue growth was led by automotive revenue of $190,389 (in thousands), up 20.8%, and home and renters revenue of $27,688 (in thousands), up 70.0%.
- Management said carriers continue to maintain strong underwriting profitability and an appetite for growth.
- Income from operations increased 36.5% to $23,934 (in thousands), while Adjusted EBITDA increased 41.4% to $35,451 (in thousands).
- The Adjusted EBITDA reconciliation includes a $4,000 (in thousands) vendor contract termination item. The company terminated a multi-year vendor contract for advertising services with a $15.5 million remaining commitment in exchange for a payment of $4.0 million.
- The company cited continued strong growth and execution as enabling investment in AI initiatives while generating cash flow and returning capital to shareholders.
Concerns
- GAAP net income declined 3.8% to $18,152 (in thousands), and the company said the result reflects higher income taxes and the impact of a one-time item in the quarter.
- Income tax benefit (expense) was $(6,965) (in thousands) in the third quarter of 2026, compared with $345 (in thousands) in the third quarter of 2025.
- The company depends on revenue from P&C insurance industries, specifically automotive insurance, and on relationships with insurance-provider customers that have no long-term minimum financial commitments.
- The company disclosed expected increased investment in AI capabilities and associated costs, which may affect operating income, Variable Marketing Dollars, variable marketing margins and Adjusted EBITDA.
What to watch
- Fourth-quarter revenue performance against guidance of $213.0 – $223.0 million.
- Fourth-quarter Variable Marketing Dollars against guidance of $57.0 – $60.0 million.
- Fourth-quarter Adjusted EBITDA against guidance of $29.0 – $32.0 million.
- The pace of home and renters revenue growth, which was 70.0% in the third quarter.
- The effect of AI investments on operating income, Variable Marketing Dollars, variable marketing margins and Adjusted EBITDA.
- Execution of the $50 million share repurchase program.
Balance sheet and cash flow
- Cash and cash equivalents were $229,070 (in thousands) at September 30, 2026, compared to $171,379 (in thousands) at December 31, 2025.
- The company reported no outstanding debt.
- Working capital was $221,328 (in thousands) at September 30, 2026, compared to $169,067 (in thousands) at December 31, 2025.
- Net cash provided by operating activities was $40,482 (in thousands) for the three months ended September 30, 2026, compared to $19,768 (in thousands).
- Net cash provided by operating activities was $94,404 (in thousands) for the nine months ended September 30, 2026, compared to $68,371 (in thousands).
- Net cash used in investing activities was $(3,080) (in thousands) for the three months ended September 30, 2026 and $(6,182) (in thousands) for the nine months ended September 30, 2026.
- Net cash used in financing activities was $(646) (in thousands) for the three months ended September 30, 2026 and $(30,528) (in thousands) for the nine months ended September 30, 2026.
Analysis
EverQuote reported a record third quarter marked by broad top-line growth and faster expansion in operating profitability. Revenue was $218,077 (in thousands), up 25.4% from $173,940 (in thousands). Automotive remained the primary revenue vertical at $190,389 (in thousands), up 20.8%, while home and renters revenue rose 70.0% to $27,688 (in thousands). Variable marketing dollars increased 24.9% to $62,633 (in thousands), broadly tracking revenue growth.
Operating results strengthened. Income from operations increased 36.5% to $23,934 (in thousands), while Adjusted EBITDA increased 41.4% to $35,451 (in thousands). GAAP net income was $18,152 (in thousands), down 3.8% from $18,865 (in thousands). The company attributed the net-income comparison to higher income taxes and the impact of a one-time item. The Adjusted EBITDA reconciliation included a $4,000 (in thousands) vendor contract termination item related to a multi-year advertising-services contract.
Cash generation and liquidity were notable. Operating cash flow was $40,482 (in thousands) in the quarter, compared with $19,768 (in thousands) in the prior-year period. Cash and cash equivalents were $229,070 (in thousands) at September 30, 2026, and the company reported no outstanding debt. The board approved a $50 million share repurchase program, while repurchases during the first nine months of 2026 totaled $(29,000) (in thousands).
The fourth-quarter outlook calls for revenue of $213.0 – $223.0 million, Variable Marketing Dollars of $57.0 – $60.0 million, and Adjusted EBITDA of $29.0 – $32.0 million. Management linked demand to carriers' underwriting profitability and appetite for growth, while also stating that the company plans increased AI investment. The principal reported watchpoints are whether automotive demand remains durable, whether high home and renters growth persists, and how AI investment affects operating income, Variable Marketing Dollars, variable marketing margins and Adjusted EBITDA.
For the first nine months, revenue was $604,015 (in thousands), up 21.5%, income from operations was $70,835 (in thousands), up 78.4%, net income was $56,011 (in thousands), up 34.8%, and Adjusted EBITDA was $94,883 (in thousands), up 36.5%. The year-to-date comparison also includes $8,232 (in thousands) of legal settlement expense in the first nine months of 2025 that did not recur in the first nine months of 2026.
Management, verbatim
We are generating record results across our key financial metrics as we successfully grow and deepen our relationships with our carrier and agent customers.
Jayme Mendal, Chief Executive Officer of EverQuote
Carriers continue to maintain strong underwriting profitability and an appetite for growth, and our team is executing seamlessly to meet this demand.
Jayme Mendal, Chief Executive Officer of EverQuote
Our continued strong growth and execution are enabling us to invest in AI initiatives, while simultaneously generating strong cash flow, maintaining a fortress balance sheet and returning capital to shareholders.
Joseph Sanborn, Chief Financial Officer and Chief Administrative Officer of EverQuote
Not in the filing
stated, not guessed- Gross margin and gross-margin comparisons were not reported.
- Free cash flow was not reported.
- A dividend amount was not reported.
- Prior-quarter comparisons were not reported for the presented operating metrics.
- Previous-quarter outlook was not provided, so actual results cannot be compared with prior guidance.
- A GAAP reconciliation for fourth-quarter Adjusted EBITDA guidance was not provided because the company said it could not quantify the reconciling items without unreasonable efforts.
- Detailed balance-sheet prior-year comparisons as of September 30, 2025 were not reported; the balance sheet instead presents December 31, 2025 comparative figures.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
EverQuote filed a Form 8‑K announcing its Q3 2026 results and Q4 outlook.
Ticker impact
EverQuote reported Q3 2026 revenue up 25% to $218.1M, GAAP net income $18.2M and issued Q4 guidance.
likely upward pressure as the market prices in the revenue beat and positive outlook
The company beat prior-year revenue, posted profit and provided a solid Q4 outlook, which typically drives buying interest.
Market effects
The P&C insurance technology segment may see increased investor interest as EverQuote demonstrates growth.
U.S. fintech and insurtech stocks could benefit from the positive earnings signal.
Limited to U.S. markets; no direct global macro effect.
Counterpoint
If the market has already priced in the growth story, the stock may face limited upside.
Key entities
- companyEverQuote, Inc.
U.S. listed insurtech firm (NASDAQ: EVER) reporting Q3 2026 results.
