EverQuote (NASDAQ: EVER) reported Q3 EPS of ($0.12), $0.05 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $90 million versus the consensus estimate of $85.17 million.

• Revenue Increased 34% Year-Over-Year to $90.0 Million
• Non-Auto Insurance Revenue Increased 55% Year-Over-Year to $15.2 Million
• Variable Market Margin Expanded to a Record 33% of Total Revenue
• Company Raises Full Year 2020 Guidance

“Our strategy continues to yield excellent results and we reported a strong quarter across all of our key financial metrics – delivering 34% year-over-year revenue growth and 41% year-over-year VMM growth,” said Seth Birnbaum, CEO and Co-Founder of EverQuote. “During the quarter, revenue from our non-auto insurance verticals, which includes home and renters, life, health and commercial insurance, grew 55% year-over-year. Our marketplace flywheel is demonstrating progress and resilience benefiting from increased diversity across our team, traffic, verticals, distribution and customer experiences including direct-to-consumer agency initiatives in Life and Health insurance. We continue to have strong momentum in the business, benefitting from the massive industry shift of nearly $150B of insurance distribution spend moving online, allowing us to end the year raising our full year 2020 guidance,” concluded Mr. Birnbaum.

GUIDANCE:

EverQuote sees Q4 2020 revenue of $90.4-92.4 million, versus the consensus of $89.71 million.

EverQuote sees FY2020 revenue of $340-342 million, versus the consensus of $334.59 million.

EverQuote anticipates Revenue, Variable Marketing Margin and Adjusted EBITDA to be in the following ranges:

Fourth quarter 2020:

• Revenue of $90.4 - $92.4 million.
• Variable Marketing Margin of $29.3 - $30.3 million.
• Adjusted EBITDA in the range of $4.0 - $5.0 million.

Full year 2020

• Revenue of $340.0 - $342.0 million, an increase from our previous range of $331.0 - $336.0 million.
• Variable Marketing Margin of $106.0 - $107.0 million, an increase from our previous range of $101.0 - $104.5 million.
• Adjusted EBITDA in the range of $17.0 - $18.0 million, an increase from our previous range of $15.0 - $17.5 million.

For earnings history and earnings-related data on EverQuote (EVER) click here.