Q2 2026 EverQuote Inc Earnings Call Transcript
Key Points
- EverQuote Inc (EVER) delivered strong Q2 2026 results with revenue up 25% year-over-year to $195.1 million and record adjusted EBITDA of $30.1 million, up 37%.
- The company saw record revenue from both carrier and local agent demand, with a major carrier returning to the marketplace and ramping as expected.
- Home insurance vertical grew 35% year-over-year to a record $23 million, driven by strong monetization and increased carrier budgets.
- Smart Campaigns AI bidding solution is scaling rapidly, with revenue flowing through the product increasing over 100% year-over-year and adoption by seven of the top 10 carriers.
- EverQuote Inc (EVER) is making strategic investments in AI, including agentic traffic operations and new AI-first products, positioning itself as a leader in the P&C distribution sector's AI transition.
- The company maintains a fortress balance sheet with $192 million in cash and no debt, and has repurchased $50 million in shares, with plans for a new buyback program.
- Q3 2026 guidance implies a slowdown in revenue growth to 17% year-over-year at the midpoint, down from 25% in Q2.
- The company expects a step-up in operating expenses in the second half of 2026 due to targeted investments in new AI products and strategic partnerships, which could pressure margins.
- Variable marketing margin (VMM) is expected to remain in the high 20s, with no significant improvement anticipated, as the company prioritizes growth over margin expansion.
- New AI-driven products and initiatives are not expected to contribute material revenue in 2026, with near-term impact limited to testing and innovation.
- The company faces a competitive traffic landscape, and while it has adapted, there is no guarantee that new channels will provide sustainable tailwinds to VMD growth.
- Management noted that carriers are more willing to pay and collaborate, but this could lead to increased competition and pricing pressure in the marketplace.
Hello, everyone. Thank you for joining us and welcome to the EverQuote second-quarter 2026 earnings call. (Operator Instructions)
I will now hand the conference over to Sara Buda, Vice President of Investor Relations. Please go ahead.
Thank you. Good afternoon and welcome to EverQuote's second-quarter 2026 earnings call. We will be discussing the results announced in our press release issued today after market close.
With me on the call this afternoon are Jayme Mendal, EverQuote's CEO; and Joseph Sanborn, EverQuote's CFO and Chief Administrative Officer.
During this call, we may make statements related to our business that may be considered forward-looking statements under federal securities laws, including statements considering our financial guidance for the third quarter of 2026.
Forward-looking statements may be identified with words and phrases such as aim, expect, believe, intend, anticipate, plan, will, may, continue, upcoming, and similar words and
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