EverQuote (EVER) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 15% year-over-year to $190.9 million, exceeding guidance across all metrics, with Adjusted EBITDA up 30% to a record $29.3 million and net income rising to $18.7 million.

• Operating cash flow reached a record $29.6 million, and the company ended Q1 with $178.5 million in cash and no debt.

• Repurchased $19.9 million in shares, offsetting dilution, with $9.1 million remaining authorized for repurchase.

• Continued to scale AI-driven marketplace, deepening provider relationships and driving productivity gains, with 90% of revenue from auto insurance providers.

• Exceeded guidance across all key financial metrics and maintained a strong balance sheet.

Financial highlights

• Total revenue grew 15% year-over-year to $190.9 million in Q1 2026, with automotive insurance revenue at $172.4 million (+13%) and home/renters at $18.5 million (+33%).

• Adjusted EBITDA margin improved to 15.4%, and net income margin reached 9.8%.

• Variable Marketing Dollars (VMD) reached $55.9 million, up 19% year-over-year, with Variable Marketing Margin (VMM) at 29.3%.

• Operating cash flow margin was 15.5%.

• Basic EPS was $0.52, up from $0.22; diluted EPS was $0.51, up from $0.21.

Outlook and guidance

• Q2 2026 revenue expected between $185 million and $195 million, representing 21% year-over-year growth at midpoint.

• Q2 VMD expected between $55 million and $57 million, up 23% year-over-year at midpoint.

• Q2 Adjusted EBITDA expected between $28 million and $30 million, up 32% year-over-year at midpoint.

• Management reiterates goal of reaching $1 billion in annual revenue within 2–3 years, driven by proprietary data, AI, and expanded digital services.

• Focus on automation, platform simplification, and continued investment in AI and product innovation.