EverQuote's Q2 revenue grows 34% but misses estimates
Overview
EverQuote Q2 revenue grows 34% yr/yr to $156.6 mln but just misses analyst expectations
Adjusted EBITDA for Q2 beats consensus, reaching $22 mln, per LSEG data
Co announces $50 mln share repurchase program, reflecting confidence in financial trajectory
Outlook
EverQuote sees Q3 revenue of $163 mln to $169 mln
Company expects Q3 adjusted EBITDA of $22 mln to $24 mln
EverQuote anticipates Q3 variable marketing dollars of $47 mln to $50 mln
Result Drivers
REVENUE GROWTH - Revenue increased by 34% year-over-year to $156.6 mln, driven by strong execution and a stable market environment
MARKETING EXPENSES - Variable marketing dollars rose 25% year-over-year to $45.5 mln, supporting revenue growth
AI AND EFFICIENCY - EverQuote attributes its strong qtr to AI-driven efficiency applications and disciplined expense management
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $156.63 mln | $157.20 mln (8 Analysts) |
Q2 Net Income | $14.70 mln | ||
Q2 Adjusted EBITDA | Beat | $22 mln | $21.10 mln (8 Analysts) |
Q2 Pretax Profit | $15.06 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for EverQuote Inc is $35.00, about 31.1% above its August 1 closing price of $24.10
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 19 three months ago
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