EverQuote, Inc. reported significant financial growth in its latest quarterly filing, with total revenue reaching $195.1 million for the three months ended June 30, 2026, a 24.6% increase from $156.6 million in the same period last year. For the first half of 2026, revenue totaled $385.9 million, up 19.4% from $323.3 million in the prior year. The company also achieved a net income of $19.2 million for the second quarter, compared to $14.7 million in the previous year, and a net income of $37.9 million for the first half, up from $22.7 million.
The increase in revenue was primarily driven by a rise in spending from insurance carriers, particularly in the automotive sector, which accounted for 89% of total revenue. The automotive vertical saw a revenue increase of $32.5 million year-over-year, while the home and renters segment contributed an additional $6 million. EverQuote's cost of revenue decreased to $4.4 million in the second quarter, down from $4.8 million, reflecting improved operational efficiency.
In terms of strategic developments, EverQuote has been actively managing its share repurchase program, having repurchased $29 million worth of Class A common stock during the first half of 2026. The company completed its $50 million share repurchase program, which was authorized in July 2025. Additionally, EverQuote has maintained a strong liquidity position, with cash and cash equivalents of $192.3 million as of June 30, 2026, alongside a $60 million revolving credit facility.
Operationally, EverQuote reported an increase in its employee headcount, contributing to higher research and development expenses, which rose to $9.4 million in the second quarter, up from $7.8 million. The company continues to focus on enhancing its marketplace platform and expanding its insurance provider network. Looking ahead, EverQuote anticipates continued revenue growth driven by increased carrier spending and an expansion of its consumer traffic through enhanced marketing strategies.
Overall, EverQuote's financial performance reflects a positive trajectory, supported by strategic investments and operational efficiencies, positioning the company for further growth in the competitive insurance marketplace.
About EverQuote, Inc.
EverQuote, Inc. operates an online insurance marketplace connecting consumers with property and casualty insurance providers, including carriers and agents. Utilizing proprietary data and technology, it facilitates efficient consumer matching, lead generation, and campaign management across auto, home, and renters insurance segments. The company's platform enhances digital insurance shopping, offering targeted marketing solutions and broad provider networks to improve customer acquisition and retention.
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