EverQuote Announces Fourth Quarter and Full Year 2024 Financial Results

Core Insights - EverQuote, Inc. reported a significant financial performance in 2024, achieving a revenue growth of 74% year-over-year, surpassing $500 million for the first time, and generating an Adjusted EBITDA of nearly$60 million [2][6][7] - The company aims to be the leading growth partner for property and casualty (P&C) insurance providers, focusing on delivering better-performing referrals and a broader suite of products and services [2][13] - EverQuote's strong momentum is expected to continue into 2025, with strategic investments planned to enhance its technology platform [2][6] Fourth Quarter 2024 Highlights - Total revenue for Q4 2024 reached $147.5 million, marking a 165$44.0 million [6][7] - The company reported a net income of $12.3 million and an Adjusted EBITDA of$18.9 million for the fourth quarter [6][7] Full Year 2024 Highlights - Total revenue for the full year 2024 was $500.2 million, a 74$446.1 million, while home and renters insurance revenue increased by 27% to $52.0 million [7][6] - The company achieved a net income of$32.2 million, a significant turnaround from a net loss of $51.3 million in 2023 [7][6] First Quarter 2025 Outlook - The company anticipates revenue between$155.0 million and $160.0 million for Q1 2025, representing a 73$44.0 million and $46.0 million, indicating a 46$66.6 million, compared to a cash outflow of $2.8 million in 2023 [7][6] - The company ended Q4 2024 with$102.1 million in cash and cash equivalents, a 23% increase from the previous quarter [7][6] - Total assets as of December 31, 2024, were $210.5 million, with total liabilities of$75.2 million [19]