EverQuote, Inc. (NASDAQ: EVER) reported first‑quarter 2026 results that surpassed analyst expectations, with revenue of $190.9 million, a 14.6% year‑over‑year increase, and earnings per share of $0.51, a $0.08 beat on the consensus estimate of $0.43. Adjusted EBITDA reached a record $29.3 million, up 30% from the $22.5 million reported in Q1 2025, and the company posted a record adjusted EBITDA margin of 15.4% and operating cash flow of $29.6 million.
The quarter’s performance outpaced the prior year’s figures: revenue rose from $166.6 million in Q1 2025, while EPS climbed from $0.21 to $0.51. The 30% jump in adjusted EBITDA reflects both higher revenue and improved operational leverage, driven in part by the company’s AI‑powered solutions that have increased pricing power and reduced cost per transaction.
Management attributed the strong results to a combination of robust demand in core insurance segments and the continued deployment of AI technology. CEO Jayme Mendal said, "Our first quarter results demonstrate our strong performance and favorable sector demand as we execute our mission to empower P&C insurance providers to grow market share by maximizing customer acquisition across digital channels." CFO Joseph Sanborn added, "We reported an impressive first quarter with strong revenue growth, record levels of Adjusted EBITDA and record operating cash flow. Our AI‑powered solutions are enabling us to continue to drive greater value for carriers and agents while delivering operational leverage and efficiency."
EverQuote reiterated its guidance for the second quarter, projecting revenue between $185 million and $195 million—an upside of 21% year‑over‑year at the midpoint—and adjusted EBITDA between $28 million and $30 million. The guidance signals management’s confidence in sustained demand and margin expansion, while the company noted that it remains on track to reach $1 billion in annual revenue within the next two to three years.
The company’s balance sheet remains strong, with $178.5 million in cash, no debt, and an ongoing share repurchase program. EverQuote’s focus on AI and digital channel optimization positions it to capture additional market share in the P&C insurance space, where carriers are increasingly shifting spend to technology‑enabled solutions.
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