EverQuote, Inc 8-K, filed Nov 2, 2026
EverQuote, Inc. (EVER)
About this 8-K
EverQuote, Inc filed this 8-K on November 2, 2026.
EverQuote reported third-quarter revenue of $218.1 million, up 25%, net income of $18.2 million and Adjusted EBITDA of $35.5 million, up 41%. It ended with $229.1 million in cash, no debt, and a Board-approved $50 million share repurchase program. AI summary
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 2, 2026, EverQuote, Inc. (the “Company”) issued a press release reporting financial results for the fiscal quarter ended September 30, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished in Item 2.02 in this Current Report on Form 8-K, including the press release attached as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
EXHIBIT INDEX
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Exhibit No. |
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Description |
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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EVERQUOTE, INC. |
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Date: |
November 2, 2026 |
By: |
/s/ Jon Ayotte |
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Jon Ayotte |
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
● Issues strong Q4 outlook indicating ongoing positive momentum and demand
CAMBRIDGE, Mass., November 2, 2026 -- EverQuote, Inc. (Nasdaq: EVER), a leading provider of growth solutions for property and casualty, or P&C, insurance providers, today announced financial results for the third quarter ended September 30, 2026.
“We are generating record results across our key financial metrics as we successfully grow and deepen our relationships with our carrier and agent customers,” said 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. As we build on our strong foundation to accelerate new product innovation and development, we believe EverQuote is uniquely positioned to help steward P&C insurance into the agentic AI era.”
Third Quarter 2026 Highlights:
(Unless otherwise noted, all comparisons are relative to the third quarter of 2025).
The Company also recently announced that its Board of Directors approved a $50 million share repurchase program.
“We reported a record third quarter, delivering revenue growth of 25% year-over-year, highlighting the strength of our market position as a trusted growth partner for our customers,” said Joseph Sanborn, Chief Financial Officer and Chief Administrative Officer of EverQuote. “We are focused on accelerating product innovation and unlocking new possibilities to capitalize on the opportunities ahead. 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.”
Fourth Quarter 2026 Outlook:
● Revenue of $213.0 – $223.0 million.
● Variable Marketing Dollars of $57.0 – $60.0 million.
● Adjusted EBITDA of $29.0 – $32.0 million.
Adjusted EBITDA is a non-GAAP financial measure. Please see “Non-GAAP Financial Measures” below for more
information. With respect to the Company’s expectations under “Fourth Quarter 2026 Outlook” above, the Company has not reconciled Adjusted EBITDA to the most directly comparable GAAP measure, net income (loss), in this press release because the Company does not provide guidance on a consistent basis for stock-based compensation expense, depreciation and amortization expense, interest income, income taxes and other items the Company believes are non-recurring or not indicative of its core operating performance, because the Company is unable to quantify these amounts without unreasonable efforts, which would be required to reconcile Adjusted EBITDA to GAAP net income (loss). In addition, the Company believes such a reconciliation would imply a degree of precision that could be confusing or misleading to investors.
Conference Call and Webcast Information
EverQuote will host a conference call and live webcast to discuss its third quarter 2026 financial results and other matters at 4:30 p.m. Eastern Time today, November 2, 2026 and supporting slides will be available at https://investors.everquote.com. To access the conference call, dial Toll Free: +1 (833) 461-5787 for the US, or +1 (585) 542-9983 for international callers, and provide conference ID 867228452. The live webcast and replay will be available on the Investors section of the Company’s website at https://investors.everquote.com.
Safe Harbor Statement
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements regarding our future results of operations, financial position, liquidity and capital resources; our business strategy and plans, including our development, deployment and monetization of new and enhanced products and services; our growth plans and innovation strategies; our expectations regarding increased investments to drive our artificial intelligence, or AI, capabilities, including the costs associated therewith, the potential impact of such investments on our financial statements and results of operations, including operating income, variable marketing dollars, variable marketing margins and Adjusted EBITDA, and the anticipated benefits of such investments; trends in consumer traffic and demand for our products and services; our relationships with, and expected spending by, carriers and agents, including future carrier demand and growth; objectives of management for future operations; and our capital allocation priorities, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “aim,” “may,” “should,” “expects,” “might,” “plans,” “anticipates,” “could,” “intends,” “goals,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “seek,” “will,” “would” or “continues,” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, liquidity and results of operations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. These forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from our forward-looking statements include, without
limitation, the following: our dependence on revenue from the property and casualty, or P&C, insurance industries, and specifically automotive insurance, and exposure to risks related to those industries; our dependence on our relationships with insurance provider customers with no long-term minimum financial commitments and furthermore, our reliance on a small number of insurance provider customers for a significant portion of our revenue; adverse conditions in the insurance markets, as well as the general economy; our dependence on third-party media sources for a significant portion of visitors to our websites and marketplace; our ability to attract consumers to our websites and marketplace; our ability to market to consumers or collect, share and use data derived from consumer activities; risks related to AI, including our expected increased use of and investment in AI capabilities, and the costs associated therewith; risks related to cybersecurity incidents or other network disruptions; our ability to develop new and enhanced products and services and to successfully monetize them; the impact of competition in our industry and innovation by our competitors; our ability to stay abreast of and comply with new or modified laws and regulations that currently apply or become applicable to our business, including with respect to the insurance industry, telemarketing restrictions and data privacy requirements; and our ability to protect our intellectual property rights and maintain and build our brand. A further list and description of risks, uncertainties and assumptions that could cause or contribute to differences in our future results include the cautionary statements described in Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025 and in our subsequent periodic filings with the Securities and Exchange Commission. We qualify all of our forward-looking statements by these cautionary statements.
About EverQuote
EverQuote (Nasdaq: EVER) is a leading AI-powered growth solutions partner for regulated property and casualty insurance entities, enabling the largest insurance carriers and thousands of agents to maximize customer acquisition across digital channels. Fueled by our proprietary data assets and our AI traffic engine, EverQuote is transforming the way providers attract and engage consumers to grow market share. To learn more visit investors.everquote.com.
Investor Relations Contact
Sara Buda
EverQuote
sara.buda@everquote.com
EVERQUOTE, INC.
STATEMENTS OF OPERATIONS
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands except per share) |
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Revenue |
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$ |
218,077 |
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$ |
173,940 |
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$ |
604,015 |
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$ |
497,201 |
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Cost and operating expenses(1): |
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Cost of revenue |
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4,632 |
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4,712 |
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13,256 |
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14,934 |
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Sales and marketing |
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164,951 |
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135,362 |
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457,976 |
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385,847 |
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Research and development |
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9,027 |
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7,944 |
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27,004 |
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23,201 |
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General and administrative |
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15,533 |
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8,382 |
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34,944 |
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25,282 |
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Legal settlement |
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— |
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— |
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— |
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8,232 |
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Total cost and operating expenses |
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194,143 |
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156,400 |
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533,180 |
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457,496 |
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Income from operations |
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23,934 |
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17,540 |
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70,835 |
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39,705 |
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Other income (expense): |
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Interest income |
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1,224 |
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992 |
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3,235 |
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2,618 |
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Other income (expense), net |
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(41 |
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(12 |
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(79 |
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(65 |
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Total other income, net |
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1,183 |
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980 |
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3,156 |
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2,553 |
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Income before income taxes |
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25,117 |
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18,520 |
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73,991 |
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42,258 |
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Income tax benefit (expense) |
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(6,965 |
) |
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345 |
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(17,980 |
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(702 |
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Net income |
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$ |
18,152 |
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$ |
18,865 |
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$ |
56,011 |
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$ |
41,556 |
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Net income per share: |
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Basic |
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$ |
0.51 |
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$ |
0.52 |
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$ |
1.58 |
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$ |
1.15 |
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Diluted |
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$ |
0.49 |
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$ |
0.50 |
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$ |
1.53 |
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$ |
1.10 |
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Weighted average common shares outstanding, basic and diluted: |
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Basic |
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35,379 |
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36,218 |
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35,499 |
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36,143 |
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Diluted |
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36,928 |
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37,731 |
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36,676 |
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37,804 |
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(1) Amounts include stock-based compensation expense, as follows: |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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Cost of revenue |
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$ |
34 |
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$ |
39 |
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$ |
97 |
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$ |
87 |
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Sales and marketing |
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984 |
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2,289 |
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3,328 |
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|
5,860 |
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Research and development |
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1,887 |
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|
1,778 |
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5,032 |
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|
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4,706 |
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General and administrative |
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3,665 |
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2,622 |
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|
|
8,926 |
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|
|
8,055 |
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|
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$ |
6,570 |
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$ |
6,728 |
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$ |
17,383 |
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$ |
18,708 |
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EVERQUOTE, INC.
BALANCE SHEET DATA
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September 30, |
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December 31, |
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2026 |
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2025 |
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(in thousands) |
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Cash and cash equivalents |
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$ |
229,070 |
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$ |
171,379 |
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Working capital |
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221,328 |
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169,067 |
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Total assets |
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378,677 |
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326,913 |
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Total liabilities |
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97,815 |
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88,873 |
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Total stockholders' equity |
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280,862 |
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238,040 |
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EVERQUOTE, INC.
STATEMENTS OF CASH FLOWS
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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Cash flows from operating activities: |
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Net income |
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$ |
18,152 |
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$ |
18,865 |
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$ |
56,011 |
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$ |
41,556 |
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Adjustments to reconcile net income to net cash |
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Depreciation and amortization expense |
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988 |
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|
811 |
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2,744 |
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2,950 |
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Stock-based compensation expense |
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6,570 |
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6,728 |
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17,383 |
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18,708 |
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Deferred taxes |
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4,931 |
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— |
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12,949 |
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— |
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Provision for bad debt |
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— |
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10 |
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— |
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10 |
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Unrealized foreign currency transaction (gains) losses |
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6 |
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(14 |
) |
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(31 |
) |
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96 |
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Litigation accrual settled with sale of assets |
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— |
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— |
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— |
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7,841 |
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Changes in operating assets and liabilities: |
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Accounts receivable |
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(3,921 |
) |
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(13,229 |
) |
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(4,796 |
) |
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(6,843 |
) |
Prepaid expenses and other current assets |
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(225 |
) |
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(3,693 |
) |
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185 |
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(4,688 |
) |
Commissions receivable, current and non-current |
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— |
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— |
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— |
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1,873 |
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Operating lease right-of-use assets |
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|
312 |
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|
285 |
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|
916 |
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|
|
833 |
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Accounts payable |
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|
13,388 |
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|
|
8,955 |
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|
|
6,808 |
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|
|
7,937 |
|
Accrued expenses and other current liabilities |
|
|
617 |
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|
|
1,599 |
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|
|
3,026 |
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|
|
(689 |
) |
Deferred revenue |
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(15 |
) |
|
|
(257 |
) |
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|
148 |
|
|
|
(376 |
) |
Operating lease liabilities |
|
|
(321 |
) |
|
|
(292 |
) |
|
|
(939 |
) |
|
|
(837 |
) |
Net cash provided by operating activities |
|
|
40,482 |
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|
|
19,768 |
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|
|
94,404 |
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|
|
68,371 |
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Cash flows from investing activities: |
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Acquisition of property and equipment, including costs |
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|
(1,830 |
) |
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|
(1,302 |
) |
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|
(4,932 |
) |
|
|
(3,896 |
) |
Purchase of strategic investment |
|
|
(1,250 |
) |
|
|
— |
|
|
|
(1,250 |
) |
|
|
— |
|
Net cash used in investing activities |
|
|
(3,080 |
) |
|
|
(1,302 |
) |
|
|
(6,182 |
) |
|
|
(3,896 |
) |
Cash flows from financing activities: |
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|
|
|
|
|
|
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|
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Proceeds from exercise of stock options |
|
|
525 |
|
|
|
1,059 |
|
|
|
1,510 |
|
|
|
3,394 |
|
Repurchase of common stock |
|
|
— |
|
|
|
(21,024 |
) |
|
|
(29,000 |
) |
|
|
(21,024 |
) |
Tax withholding payments related to net share settlement |
|
|
(1,171 |
) |
|
|
(918 |
) |
|
|
(3,038 |
) |
|
|
(3,197 |
) |
Net cash used in financing activities |
|
|
(646 |
) |
|
|
(20,883 |
) |
|
|
(30,528 |
) |
|
|
(20,827 |
) |
Effect of exchange rate changes on cash, cash equivalents |
|
|
(4 |
) |
|
|
(5 |
) |
|
|
(3 |
) |
|
|
2 |
|
Net increase (decrease) in cash, cash equivalents and |
|
|
36,752 |
|
|
|
(2,422 |
) |
|
|
57,691 |
|
|
|
43,650 |
|
Cash, cash equivalents and restricted cash at beginning |
|
|
192,318 |
|
|
|
148,188 |
|
|
|
171,379 |
|
|
|
102,116 |
|
Cash, cash equivalents and restricted cash at end |
|
$ |
229,070 |
|
|
$ |
145,766 |
|
|
$ |
229,070 |
|
|
$ |
145,766 |
|
EVERQUOTE, INC.
FINANCIAL AND OPERATING METRICS
Revenue by vertical:
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Three Months Ended September 30, |
|
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Change |
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|
2026 |
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2025 |
|
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% |
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|||
|
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(in thousands) |
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|
|
||||||
Automotive |
|
$ |
190,389 |
|
|
$ |
157,641 |
|
|
|
20.8 |
% |
Home and renters |
|
|
27,688 |
|
|
|
16,290 |
|
|
|
70.0 |
% |
Other |
|
|
— |
|
|
|
9 |
|
|
|
-100.0 |
% |
Total revenue |
|
$ |
218,077 |
|
|
$ |
173,940 |
|
|
|
25.4 |
% |
|
|
Nine Months Ended September 30, |
|
|
Change |
|
||||||
|
|
2026 |
|
|
2025 |
|
|
% |
|
|||
|
|
(in thousands) |
|
|
|
|
||||||
Automotive |
|
$ |
534,826 |
|
|
$ |
449,940 |
|
|
|
18.9 |
% |
Home and renters |
|
|
69,189 |
|
|
|
47,228 |
|
|
|
46.5 |
% |
Other |
|
|
— |
|
|
|
33 |
|
|
|
-100.0 |
% |
Total revenue |
|
$ |
604,015 |
|
|
$ |
497,201 |
|
|
|
21.5 |
% |
Other financial and non-financial metrics:
|
|
Three Months Ended September 30, |
|
|
Change |
|
||||||
|
|
2026 |
|
|
2025 |
|
|
% |
|
|||
|
|
(in thousands) |
|
|
|
|
||||||
Income from operations |
|
$ |
23,934 |
|
|
$ |
17,540 |
|
|
|
36.5 |
% |
Net income |
|
$ |
18,152 |
|
|
$ |
18,865 |
|
|
|
-3.8 |
% |
Variable marketing dollars |
|
$ |
62,633 |
|
|
$ |
50,140 |
|
|
|
24.9 |
% |
Adjusted EBITDA(1) |
|
$ |
35,451 |
|
|
$ |
25,067 |
|
|
|
41.4 |
% |
|
|
Nine Months Ended September 30, |
|
|
Change |
|
||||||
|
|
2026 |
|
|
2025 |
|
|
% |
|
|||
|
|
(in thousands) |
|
|
|
|
||||||
Income from operations |
|
$ |
70,835 |
|
|
$ |
39,705 |
|
|
|
78.4 |
% |
Net income |
|
$ |
56,011 |
|
|
$ |
41,556 |
|
|
|
34.8 |
% |
Variable marketing dollars |
|
$ |
175,428 |
|
|
$ |
142,520 |
|
|
|
23.1 |
% |
Adjusted EBITDA(1) |
|
$ |
94,883 |
|
|
$ |
69,530 |
|
|
|
36.5 |
% |
(1) Adjusted EBITDA is a non-GAAP measure. Please see “Non-GAAP Financial Measures” below for more information.
Non-GAAP Financial Measures
To supplement the Company’s financial statements presented in accordance with GAAP and to provide investors with additional information regarding EverQuote’s financial results, the Company has presented Adjusted EBITDA as a non-GAAP financial measure. Adjusted EBITDA is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similarly titled measures presented by other companies.
The Company defines Adjusted EBITDA as net income (loss), excluding the impact of stock-based compensation expense; depreciation and amortization expense; interest income; income taxes; and other items that we believe are
non-recurring or not indicative of our core operating performance. The most directly comparable GAAP financial measure is net income (loss). The Company monitors and presents Adjusted EBITDA because it is a key measure used by management and the board of directors to understand and evaluate operating performance, to establish budgets and to develop operational goals for managing EverQuote’s business. In particular, the Company believes that excluding the impact of these items in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of EverQuote’s core operating performance.
The Company uses Adjusted EBITDA to evaluate EverQuote’s operating performance and trends and make planning decisions. The Company believes that this non-GAAP financial measure helps identify underlying trends in EverQuote’s business that could otherwise be masked by the effect of the items that the Company excludes in the calculations of Adjusted EBITDA. Accordingly, the Company believes that this financial measure provides useful information to investors and others in understanding and evaluating EverQuote’s operating results, enhancing the overall understanding of the Company’s past performance and future prospects.
Adjusted EBITDA is not prepared in accordance with GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. Adjusted EBITDA should be considered together with other operating and financial performance measures presented in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA rather than net income (loss). In addition, other companies may use other measures to evaluate their performance, which may reduce the usefulness of the Company’s non-GAAP financial measures as tools for comparison.
The following table reconciles Adjusted EBITDA to net income (loss), the most directly comparable financial measure calculated and presented in accordance with GAAP:
EVERQUOTE, INC.
RECONCILIATION OF NON-GAAP MEASURES TO GAAP
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
|
|
(in thousands) |
|
|||||||||||||
Net income |
|
$ |
18,152 |
|
|
$ |
18,865 |
|
|
$ |
56,011 |
|
|
$ |
41,556 |
|
Stock-based compensation |
|
|
6,570 |
|
|
|
6,728 |
|
|
|
17,383 |
|
|
|
18,708 |
|
Depreciation and amortization |
|
|
988 |
|
|
|
811 |
|
|
|
2,744 |
|
|
|
2,950 |
|
Interest income |
|
|
(1,224 |
) |
|
|
(992 |
) |
|
|
(3,235 |
) |
|
|
(2,618 |
) |
Income taxes |
|
|
6,965 |
|
|
|
(345 |
) |
|
|
17,980 |
|
|
|
702 |
|
Other: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Vendor contract termination(1) |
|
|
4,000 |
|
|
|
— |
|
|
|
4,000 |
|
|
|
— |
|
Legal settlement(2) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
8,232 |
|
Adjusted EBITDA |
|
$ |
35,451 |
|
|
$ |
25,067 |
|
|
$ |
94,883 |
|
|
$ |
69,530 |
|
(1) During the three and nine months ended September 30, 2026, we 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.
(2) During the nine months ended September 30, 2025, we recorded legal settlement costs related to the settlement of our litigation with the former owners of certain entities acquired in 2021.