EverQuote, Inc. (NASDAQ: EVER)

EverQuote, Inc. operates a leading online marketplace for insurance shopping. The company connects consumers with insurance provider customers that include carriers and agents. Its marketplace helps consumers find and compare auto home and renters insurance options. Insurance providers use the platform to acquire new policy holders and manage marketing spend. The service is free for consumers and revenue comes from selling consumer inquiries as referrals to providers.

EverQuote, Inc. generates revenue principally by selling consumer inquiries to insurance carriers and agents. Each inquiry is a pre validated referral that matches the consumer’s intent with a provider’s underwriting criteria. The company does not charge consumers for accessing the marketplace. Revenue is earned when providers pay for the referrals they receive. The volume of referrals and the price per referral drive the company’s top line.

EverQuote, Inc. holds a strong position in the fragmented U. S. property and casualty insurance market. The company differentiates itself through a proprietary data and technology platform that delivers high intent consumer traffic and precise matching capabilities. Competitors include other online lead generators, performance marketers, search engines, social media platforms, and traditional offline media such as television and radio. EverQuote’s advantages stem from its scale of distribution which includes about 60 carriers and roughly 6,000 agents, from its growing consumer audience, and from network effects that improve conversion rates over time.

EverQuote, Inc. serves insurance carriers and third party agents as its paying customers. The platform also attracts consumers who use the service at no cost. As of December 31, 2025 the company had approximately 6,000 enrolled insurance agencies on its platform. Two largest customers accounted for 38% and 11% of total revenue for the year ended December 31, 2025 while the largest customer represented 39% of revenue for the year ended December 31, 2024.