EverQuote ( NASDAQ: EVER ) Q2 revenue beats expectations by $7.13M, reaches $101.9M, a drop of 3% from last year.
Automotive insurance vertical revenue down 6% to $81.4M.
Revenue from other insurance verticals, which includes home and renters, life, and health insurance, increased 10% to $20.5M.
DTCA operations generated $13.1M in revenue.
Variable Marketing Margin of $33.1M, an increase of 1%.
Adjusted EBITDA down to $1.4M vs. $6.6M last year.
GAAP EPS of -$0.12 beats consensus by $0.35
Outlook Q3 : Revenue $90M-95M ( vs. consensus $98.93M ); Variable Marketing Margin of $24M-27M; Adjusted EBITDA of ($6M) - ($3M).
Outlook FY : Revenue $400-410M ( vs. consensus $411.67M ); Variable Marketing Margin of $116M-122M; Adjusted EBITDA of ($7M) - ($1M).
Seeking Alpha warns that that the stock is at a high risk of performing badly owing to declining growth and inferior profitability.
Quant rating of Sell against Sell-side rating of Buy with 3.66 score and suggested average price target of $15.5.
Contributor commentary on the stock: ' EverQuote: Dynamics Continue To Worsen '
Stock gains 23% during after-market hours.
Previously (Aug. 1): EverQuote Q2 GAAP EPS, revenue beats, Q3, FY22 guidance provided
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EverQuote skyrockets 26% despite guiding Q3 and FY revenue below consensus