EverQuote grows revenue 15% in Q1 2026

EverQuote reported first quarter 2026 revenue of $190.9 million, up 15% year-over-year, while adjusted EBITDA increased 30% to a record $29.3 million. Net income reached $18.7 million, compared to $8 million a year earlier.

The insurance shopping marketplace said growth was driven by favorable demand from carriers, particularly in auto insurance, where combined ratios in the 80s are allowing insurers to spend more aggressively on customer acquisition. According to the company, one top five carrier spent more than double its original projections during the second half of the quarter.

Auto insurance revenue increased 13% to $172.4 million, while home and renters insurance revenue grew 33% to $18.5 million. Variable Marketing Dollars totaled $55.9 million, up from $46.9 million a year earlier.

EverQuote ended the quarter with $178.5 million in cash and no debt, while repurchasing approximately $20 million of stock during Q1. Operating cash flow reached a record $29.6 million.

The company continues to position AI as a core part of its strategy, highlighting internal tools such as AI-powered sales systems, automated experimentation, and AI-assisted engineering workflows. Externally, EverQuote said it is expanding “smart campaigns” beyond carriers to local agents and is beginning to explore traffic opportunities tied to large language models and AI search experiences.

Management noted that LLM-related traffic opportunities remain early, saying existing ChatGPT insurance applications still have “a lot of friction” and limited traffic today.

For Q2 2026, EverQuote expects revenue between $185 million and $195 million, representing approximately 21% year-over-year growth at the midpoint, alongside adjusted EBITDA of $28 million to $30 million.

The company reiterated its longer-term goal of reaching $1 billion in annual revenue within two to three years.