Revenue has grown from $144.5M to $218.1M over the past ten quarters while operating margin improved from 5.4% to 11.0%, though the latest 25.4% year-over-year revenue growth was not matched by EPS growth.
EverQuote, Inc. (EVER) annual income statement — 10-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 |
|---|
| Sales/Revenue | 799.34M | 692.52M | 500.19M | 287.92M | 404.13M | 418.51M | 346.94M | 248.81M | 163.35M | 126.24M | 122.78M |
| Revenue Growth % | 23.99% | 38.45% | 73.72% | -28.75% | -3.44% | 20.63% | 39.44% | 52.32% | 29.39% | 2.82% | - |
| Cost of Goods Sold | 17.7M | 19.38M | 20.92M | 22.45M | 23.98M | 23.95M | 21.37M | 15.9M | 11.68M | 7.75M | 5.89M |
| COGS % of Revenue | - | 2.8% | 4.18% | 7.8% | 5.93% | 5.72% | 6.16% | 6.39% | 7.15% | 6.13% | 4.8% |
| Gross Profit | 781.64M | 673.15M | 479.27M | 265.47M | 380.15M | 394.57M | 325.56M | 232.91M | 151.67M | 118.5M | 116.89M |
| Gross Margin % | 97.79% | 97.2% | 95.82% | 92.2% | 94.07% | 94.28% | 93.84% | 93.61% | 92.85% | 93.86% | 95.2% |
| Gross Profit Growth % | - | 40.45% | 80.54% | -30.17% | -3.65% | 21.2% | 39.78% | 53.56% | 28% | 1.37% | - |
| Operating Expenses | 692.17M | 606.58M | 447.52M | 317.44M | 404.94M | 416.49M | 337.24M | 240.96M | 165.58M | 123.19M | 117.3M |
| OpEx % of Revenue | - | 87.59% | 89.47% | 110.25% | 100.2% | 99.52% | 97.21% | 96.84% | 101.37% | 97.58% | 95.54% |
| Selling, General & Admin | 656.87M | 575.07M | 417.96M | 266.43M | 377.36M | 379.69M | 305.32M | 219.52M | 151.41M | 113.99M | 110.71M |
| SG&A % of Revenue | - | 83.04% | 83.56% | 92.54% | 93.38% | 90.72% | 88.01% | 88.23% | 92.69% | 90.3% | 90.17% |
| Research & Development | 35.31M | 31.5M | 29.55M | 27.59M | 31.71M | 35.73M | 29.66M | 20.21M | 14.17M | 9.19M | 6.58M |
| R&D % of Revenue | - | 4.55% | 5.91% | 9.58% | 7.85% | 8.54% | 8.55% | 8.12% | 8.68% | 7.28% | 5.36% |
| Other Operating Expenses | 0 | 0 | 0 | 23.42M | -4.13M | 1.06M | 2.26M | 1.23M | 0 | 0 | 0 |
| Operating Income | 89.47M | 66.57M | 31.75M | -51.98M | -24.79M | -21.92M | -11.68M | -8.05M | -13.91M | -4.69M | -409K |
| Operating Margin % | 11.19% | 9.61% | 6.35% | -18.05% | -6.13% | -5.24% | -3.37% | -3.23% | -8.52% | -3.71% | -0.33% |
| Operating Income Growth % | - | 109.66% | 161.09% | -109.68% | -13.06% | -87.67% | -45.14% | 42.14% | -196.69% | -1046.45% | - |
| EBITDA | 93.07M | 70.38M | 37.42M | -45.78M | -18.94M | -16.85M | -8.33M | -5.86M | -12.57M | -3.33M | 1.03M |
| EBITDA Margin % | 11.64% | 10.16% | 7.48% | -15.9% | -4.69% | -4.03% | -2.4% | -2.36% | -7.7% | -2.64% | 0.84% |
| EBITDA Growth % | 44.37% | 88.06% | 181.75% | -141.71% | -12.39% | -102.26% | -42.11% | 53.36% | -277.62% | -423.83% | - |
| D&A (Non-Cash Add-back) | 3.6M | 3.81M | 5.67M | 6.2M | 5.85M | 5.07M | 3.35M | 2.19M | 1.34M | 1.36M | 1.44M |
| EBIT | 93.56M | 61.82M | 34.01M | -28.56M | -28.92M | -20.86M | -9.42M | -6.82M | -13.91M | -4.69M | -409K |
| Net Interest Income | 4.19M | 3.57M | 2.08M | 1.25M | 349K | 37K | 189K | 669K | 121K | -382K | -506K |
| Interest Income | 4.19M | 3.57M | 2.08M | 1.25M | 349K | 37K | 189K | 669K | 320K | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 199K | 382K | 506K |
| Other Income/Expense | 4.09M | -4.75M | 2.26M | 1.26M | 372K | -20K | 480K | 932K | 121K | -382K | -506K |
| Pretax Income | 93.56M | 61.82M | 34.01M | -50.71M | -24.42M | -21.94M | -11.2M | -7.12M | -13.79M | -5.07M | -915K |
| Pretax Margin % | 11.7% | 8.93% | 6.8% | -17.61% | -6.04% | -5.24% | -3.23% | -2.86% | -8.44% | -4.02% | -0.75% |
| Income Tax | -30.86M | -37.49M | 1.84M | 577K | 0 | -2.51M | 0 | 0 | 0 | 0 | 18K |
| Effective Tax Rate % | -32.98% | -60.64% | 5.41% | -1.14% | 0% | 11.44% | 0% | 0% | 0% | 0% | -1.97% |
| Net Income | 113.77M | 99.31M | 32.17M | -51.29M | -24.42M | -19.43M | -11.2M | -7.12M | -13.79M | -5.07M | -933K |
| Net Margin % | 14.23% | 14.34% | 6.43% | -17.81% | -6.04% | -4.64% | -3.23% | -2.86% | -8.44% | -4.02% | -0.76% |
| Net Income Growth % | 111.22% | 208.72% | 162.72% | -110.05% | -25.64% | -73.49% | -57.4% | 48.39% | -171.96% | -443.52% | - |
| Net Income (Continuing) | 124.41M | 99.31M | 32.17M | -51.29M | -24.42M | -19.43M | -11.2M | -7.12M | -13.79M | -5.07M | -933K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.08 | 2.63 | 0.88 | -1.54 | -0.77 | -0.67 | -0.41 | -0.28 | -0.81 | -0.24 | -0.04 |
| EPS Growth % | 113.99% | 198.86% | 157.14% | -100% | -14.93% | -63.41% | -46.43% | 65.43% | -237.5% | -451.72% | - |
| EPS (Basic) | - | 2.75 | 0.92 | -1.54 | -0.77 | -0.67 | -0.41 | -0.28 | -0.81 | -0.24 | -0.04 |
| Diluted Shares Outstanding | 36.93M | 37.75M | 36.65M | 33.35M | 31.61M | 29.09M | 27.33M | 25.76M | 16.92M | 21.44M | 21.44M |
| Basic Shares Outstanding | 35.38M | 36.14M | 35.01M | 33.35M | 31.61M | 29.09M | 27.33M | 25.76M | 16.92M | 21.44M | 21.44M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying EVER stock.
For fiscal year 2025, EverQuote, Inc. (EVER) reported total revenue of $692.5M. This represents a 464.0% increase compared to $122.8M in 2016.
EverQuote, Inc. (EVER) is profitable, generating $99.3M in net income for the fiscal year ending 2025 with a net profit margin of 14.3%.
EverQuote, Inc. (EVER) reported an operating income of $66.6M, resulting in an operating profit margin of 9.6%. This margin reflects the operational efficiency of the business before interest and taxes.
EverQuote, Inc. (EVER) generated $673.1M in gross profit for the year, representing a gross profit margin of 97.2%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Auto carrier marketing cyclicality
Metrics are mathematically derived from official filings.
Revenue Growth Re-Accelerating Off Low Base
Based on EVER's reported figures, quarterly revenue rose from $144.5M in 2024Q3 to $218.1M in 2026Q3, with year-over-year growth of 25.4% in the latest quarter after peaking near 30% in 2025Q4, suggesting sustained demand recovery.
The steep 2025 acceleration appears driven largely by a rebound in auto carrier marketing budgets rather than a structural step-change in volume, which warrants monitoring. The deceleration to 25.4% in 2026Q3 from 35.9% EPS growth context and near-30% revenue growth in late 2025 suggests the recovery is maturing. Investors should watch whether guidance of $198.0 to $208.0 million implies sequential moderation.
Gross Margin Masks Traffic Acquisition Economics
As reported in financial statements, EVER's gross margin expanded from 95.7% to 97.9% over ten quarters, yet this metric likely excludes traffic acquisition costs that represent the true variable cost of lead generation.
The near-98% gross margin reflects the reporting classification of the business rather than pricing power alone, so the trend should be read cautiously. Operating margin of 11.0% in 2026Q3 versus 5.4% in 2024Q2 shows genuine operating leverage on the cost base. Margin durability depends on carrier bidding intensity and continued traffic acquisition efficiency.
Operating Income Scaling Ahead of Revenue
Based on EVER's reported figures, operating income grew from $6.3M in 2024Q2 to $23.9M in 2026Q3, roughly 3.8 times, while revenue grew about 1.9 times over the same window, indicating meaningful operating leverage.
SG&A rose from $98.8M to $180.5M over the period, a slower pace than revenue, which points to scalable overhead. This pattern suggests fixed-cost absorption is improving as volume grows. The conclusion is tempered by quarter-to-quarter volatility in operating income that makes the trend less linear than the endpoints imply.
Net Income Diverges From Operating Results
As reported in financial statements, EVER's net margin of 14.3% in the most recent period exceeds its operating margin of 11.0%, with 2025Q4 net income of $57.8M far above operating income of $18.6M, suggesting non-operating items are material.
The gap between operating and net income indicates that reported earnings may be partly driven by non-operating or one-time items, including possible tax benefits. EPS of 1.53 in 2025Q4 is therefore not representative of run-rate earnings. Investors should rely on operating income and stock-based compensation, which ran between $5.1M and $6.7M per quarter, when assessing sustainable profitability.
Carrier Cyclicality and Consent Rules Threaten Growth
Based on reported figures, EVER's revenue depends heavily on carrier advertising budgets, and its 2026Q3 EPS growth turned negative at -2.0% despite 25.4% revenue growth, which may signal margin pressure ahead.
A reversal in auto carrier loss ratios could quickly reduce marketing spend, compressing the revenue recovery that drove 2025 results. Potential regulatory tightening of TCPA consent rules could also reduce lead monetization, though the effect is not yet visible in the reported data. Investors should monitor whether the recent EPS decline persists alongside continued top-line growth.