EverQuote Files Q3 2024 10-Q

TL;DR

EverQuote's Q3 2024 10-Q is in. Check financials.

AI Summary

EverQuote, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates. Key financial figures and business segments are presented, reflecting the company's ongoing activities in the insurance technology sector.

Why It Matters

This filing provides investors with the latest financial health and operational details of EverQuote, Inc., crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks related to revenue, expenses, or market conditions.

Key Numbers

• N/A — Revenue (Specific revenue figures for the quarter are not explicitly listed in the provided snippet.)
• N/A — Net Income (Specific net income figures for the quarter are not explicitly listed in the provided snippet.)
• N/A — Total Assets (Specific total asset figures are not explicitly listed in the provided snippet.)

Key Players & Entities

• EverQuote, Inc. (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• 2024-11-05 (date) — Filing Date
• Sanju Bansal (person) — Mentioned in Rule 10b5-1 Trading Arrangement Adoption

FAQ

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 Par Value Per Share EVER The Nasda

Filing Documents

• ever-20240930.htm (10-Q) — 1973KB
• ever-ex10_1.htm (EX-10.1) — 36KB
• ever-ex31_1.htm (EX-31.1) — 12KB
• ever-ex31_2.htm (EX-31.2) — 12KB
• ever-ex32_1.htm (EX-32.1) — 6KB
• ever-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-121035.txt ( ) — 7185KB
• ever-20240930.xsd (EX-101.SCH) — 1069KB
• ever-20240930_htm.xml (XML) — 1109KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION 32 Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 5. Other Information 33 Item 6. Exhibits 33

Signatures

Signatures 34 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical fact contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations and financial position, business strategy and plans, and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "might," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "seek," "would" or "continue," or the negative of these terms or other similar expressions. The forward-looking statements in this Quarterly Report on Form 10-Q are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition liquidity and results of operations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. These forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) EVERQUOTE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share and per share amounts) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 82,841 $ 37,956 Accounts receivable, net 48,244 21,181 Commissions receivable, current portion 3,353 4,349 Prepaid expenses and other current assets 5,453 5,755 Total current assets 139,891 69,241 Property and equipment, net 6,409 5,719 Goodwill 21,501 21,501 Acquired intangible assets, net 3,652 5,188 Operating lease right-of-use assets 3,862 1,617 Commissions receivable, non-current portion 4,904 7,630 Other assets 320 29 Total assets $ 180,539 $ 110,925 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 46,993 $ 17,202 Accrued expenses and other current liabilities 9,973 8,784 Deferred revenue 1,779 1,872 Operating lease liabilities 1,233 2,090 Total current liabilities 59,978 29,948 Operating lease liabilities, net of current portion 2,859 70 Total liabilities 62,837 30,018 Commitments and contingencies (Note 8) Stockholders' equity: Preferred stock, $ 0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding — — Class A common stock, $ 0.001 par value; 220,000,000 shares authorized; 31,747,187 shares and 28,574,239 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 32 29 Class B common stock, $ 0.001 par value; 30,000,000 shares authorized; 3,604,278 shares and 5,604,278 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 4 6 Additional paid-in capital 311,046 294,191 Accumulated other comprehensive income 105 29 Accumulated deficit ( 193,485 ) ( 213,348 ) Total stockholders' equity 117

View Full Filing

View this 10-Q filing on SEC EDGAR