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EverQuote, Inc. (EVER - Free Report) estimates third-quarter unaudited financial results wherein total revenues are projected in the range of $106.5 to $107.5 million, down from the earlier guidance of $109 to $111 million. GAAP net loss is anticipated to be in the range of $6 to $5.5 million for the third quarter of 2021.
The Zacks Consensus Estimate for EverQuote’s third-quarter bottom line is currently pegged at a loss of 16 cents, which is wider than the year-ago quarter reported loss of 12 cents.
EverQuote estimates variable marketing margin in the range of $32 to $32.5 million, lower than its guidance of $33 to $34 million. Lower advertising costs coupled with improvements in traffic volumes and monetization are likely to improve the variable marketing margin, one of the primary metrics for managing the business. VMM witnessed a seven-year (2014-2020) CAGR of 44.6%. A higher volume of quote requests will continue to drive VMM going forward.
For the third quarter, the company estimates adjusted EBITDA in the range of $2 to $2.5 million, lower from guidance of $4.5 to $5.5 million.
The company stated the third-quarter results were affected by the obstacles in the auto insurance market and higher claims losses. Nonetheless, higher traffic volumes, improved performance of automotive insurance providers, higher volume of quote requests, strategic acquisitions and lower advertising costs are likely to improve results going forward.
The business of EverQuote largely depends on revenues from automotive insurance providers. Its top line, which has been increasing over the years owing to the solid performance of automotive and other insurance marketplace verticals, witnessed a CAGR of 33.3% over the last seven years (2014-2020). The insurer also remains focused on rapidly expanding into new verticals. Increasing consumer traffic, higher quote request volume and innovating advertiser products and services will continue to drive revenues in the long run.
The Zacks Consensus Estimate for EverQuote’s third-quarter revenues is pegged at $110.4 million, indicating year-over-year increases of 22.6%.
EverQuote’s impressive inorganic growth is expected to widen the range of its products offerings and support its property and casualty carrier partners. The acquisitions are expected to increase revenue per quote request in the health insurance vertical, which will further grow and diversify the revenue stream.
EverQuote plans to limit non-marketing operating expenses (excluding non-cash items) by approximately 10%.
Zacks Rank & Price Performance
EverQuote currently carries a Zacks Rank #3 (Hold). In the past year, the stock has lost 60.8% against the industry’s growth of 34%.
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EverQuote (EVER) Reports Q3 Preliminary Financial Results
EverQuote, Inc. (EVER - Free Report) estimates third-quarter unaudited financial results wherein total revenues are projected in the range of $106.5 to $107.5 million, down from the earlier guidance of $109 to $111 million. GAAP net loss is anticipated to be in the range of $6 to $5.5 million for the third quarter of 2021.
The Zacks Consensus Estimate for EverQuote’s third-quarter bottom line is currently pegged at a loss of 16 cents, which is wider than the year-ago quarter reported loss of 12 cents.
EverQuote estimates variable marketing margin in the range of $32 to $32.5 million, lower than its guidance of $33 to $34 million. Lower advertising costs coupled with improvements in traffic volumes and monetization are likely to improve the variable marketing margin, one of the primary metrics for managing the business. VMM witnessed a seven-year (2014-2020) CAGR of 44.6%. A higher volume of quote requests will continue to drive VMM going forward.
For the third quarter, the company estimates adjusted EBITDA in the range of $2 to $2.5 million, lower from guidance of $4.5 to $5.5 million.
The company stated the third-quarter results were affected by the obstacles in the auto insurance market and higher claims losses. Nonetheless, higher traffic volumes, improved performance of automotive insurance providers, higher volume of quote requests, strategic acquisitions and lower advertising costs are likely to improve results going forward.
The business of EverQuote largely depends on revenues from automotive insurance providers. Its top line, which has been increasing over the years owing to the solid performance of automotive and other insurance marketplace verticals, witnessed a CAGR of 33.3% over the last seven years (2014-2020). The insurer also remains focused on rapidly expanding into new verticals. Increasing consumer traffic, higher quote request volume and innovating advertiser products and services will continue to drive revenues in the long run.
The Zacks Consensus Estimate for EverQuote’s third-quarter revenues is pegged at $110.4 million, indicating year-over-year increases of 22.6%.
EverQuote’s impressive inorganic growth is expected to widen the range of its products offerings and support its property and casualty carrier partners. The acquisitions are expected to increase revenue per quote request in the health insurance vertical, which will further grow and diversify the revenue stream.
EverQuote plans to limit non-marketing operating expenses (excluding non-cash items) by approximately 10%.
Zacks Rank & Price Performance
EverQuote currently carries a Zacks Rank #3 (Hold). In the past year, the stock has lost 60.8% against the industry’s growth of 34%.
Stocks to Consider
Some better-ranked stocks in the insurance space are MGIC Investment Corporation (MTG - Free Report) , Radian Group Inc. (RDN - Free Report) , CNO Financial Group, Inc. (CNO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
MGIC Investment’s bottom line surpassed estimates in each of the last four quarters, the average beat being 11.33%.
Radian surpassed estimates in each of the last four quarters, with the average surprise being 9.43%.
CNO Financial surpassed estimates in three of the last four quarters and missed in one, with the average surprise being 26.12%.