Q1 2025 EverQuote Inc Earnings Call Transcript
Key Points
- EverQuote Inc (EVER) achieved record performance across key financial metrics in Q1 2025, continuing the momentum from the previous year.
- Total revenue for Q1 2025 grew to $166.6 million, marking an 83% increase from the prior-year period and a 13% sequential rise.
- The company's machine-learning traffic bidding platform and Smart Campaigns product have significantly improved customer campaign performance, with some seeing over 40% improvement.
- EverQuote Inc (EVER) reported strong operating cash flow of $23.3 million for Q1 2025, ending the quarter with no debt and cash and cash equivalents of $125 million.
- The company is focused on expanding relationships with customers into adjacent growth areas, achieving a 25% year-over-year increase in paid products per agency in March 2025.
- Variable marketing margin (VMM) was negatively impacted by one-to-one consent dynamics earlier in Q1 2025, although it improved as the quarter progressed.
- The company incurred a non-cash charge of $7.9 million related to divesting remaining P&C Director Consumer Agency assets to settle a legal matter.
- Revenue growth in the home and renters' insurance vertical was relatively modest, with only a 10% year-over-year increase in Q1 2025.
- The potential impact of auto tariffs in the second half of 2025 could place upward pressure on claims costs, although EverQuote Inc (EVER) remains optimistic about the auto insurance recovery.
- The competitive environment remains challenging, with carriers stepping back into the market in a big way, affecting both distribution and traffic acquisition costs.
Good afternoon, ladies and gentlemen, and thank you for standing by. My name is Calvin, and I will be your conference operator today. At this time, I would like to welcome everyone to the EverQuote first-quarter 2025 earnings call. (Operator Instructions)
Thank you. I would now like to turn the call over to Brynlea Johnson. Please go ahead.
Thank you. Good afternoon, and welcome to EverQuote's first-quarter 2025 earnings call. We'll be discussing the results announced in our press release issued today after the market closed. With me on the call this afternoon are Jayme Mendal, EverQuote's Chief Executive Officer; and Joseph Sanborn, EverQuote's Chief Financial Officer.
During the call, we will make statements that refer to our business that may be considered forward-looking statements under federal securities laws, including statements concerning our financial guidance for the second quarter of 2025. Forward-looking statements may be identified with words and phrases such as expect, believe
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