Asia tech stocks slide tracking Wall St losses amid AI doubts, govt. uncertainty
CAMBRIDGE, Mass. - EverQuote , Inc. (NASDAQ:EVER) saw its stock surge 30% in after-hours trading Monday following the online insurance marketplace’s robust fourth quarter results and optimistic outlook that exceeded analyst expectations.
The company reported fourth quarter adjusted earnings per share of $0.33, beating the analyst estimate of $0.19 by $0.14. Revenue for the quarter came in at $147.5 million, surpassing the consensus estimate of $133.77 million and representing a 165% increase YoY.
EverQuote’s automotive insurance vertical was the main driver of growth, with revenue soaring over 200% YoY to $135.9 million. The company’s home and renters insurance vertical also saw a 15% YoY increase to $11.3 million.
Looking ahead, EverQuote provided upbeat guidance for the first quarter of 2025, projecting revenue between $155-160 million, well above the analyst consensus of $136.86 million. This outlook represents 73% YoY growth at the midpoint.
CEO Jayme Mendal commented on the results, stating, "We are emerging from the auto insurance downturn with record performance, and expect to carry forward our positive momentum and profitable growth into 2025 and beyond."
The company’s Variable Marketing Dollars (VMD) more than doubled to $44 million in Q4, compared to $20.7 million in the same period last year. EverQuote also reported a significant improvement in profitability, with Q4 net income of $12.3 million, compared to a net loss of $6.3 million in the year-ago quarter.
For the full year 2024, EverQuote’s revenue grew 74% to $500.2 million, while net income increased to $32.2 million from a loss of $51.3 million in 2023.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.