EverQuote, Inc. (EVER): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la comparación de seguros digitales, Everquote, Inc. (Ever) ha revolucionado cómo los consumidores encuentran y compran un seguro mediante la creación de un mercado en línea sofisticado que conecta a los buscadores de seguros con múltiples operadores a través de tecnología de vanguardia. Al aprovechar los algoritmos avanzados, las recomendaciones personalizadas y una vasta red de proveedores de seguros, Everquote transforma la experiencia de compra de seguros tradicionalmente compleja en un viaje digital perfecto y fácil de usar que faculta a los consumidores para tomar decisiones informadas de manera rápida y eficiente.

Everquote, Inc. (siempre) - Modelo de negocio: asociaciones clave

Compañero de seguros

Everquote se asocia con múltiples compañías de seguros para proporcionar comparaciones integrales de cotizaciones:

Compañero de seguros	Detalles de la asociación	Cuota de mercado
Progresivo	Socio de seguro principal	28.3% de las citas generadas
A escala nacional	Proveedor de cotizaciones principales	19.7% del volumen de cotización
Libertad Mutual	Socio de seguro estratégico	15.2% de la generación de cotizaciones

Plataformas de marketing digital

Everquote aprovecha múltiples plataformas de marketing digital para la adquisición de clientes:

• ADS de Google: 62% del gasto en marketing digital
• Publicidad de Facebook: 23% del presupuesto de marketing digital
• Publicidad de Microsoft: 15% de los canales de marketing digital

Proveedores de tecnología y análisis de datos

Proveedor	Servicio	Inversión anual
Copo de nieve	Plataforma de datos en la nube	$ 4.2 millones
Servicios web de Amazon	Infraestructura en la nube	$ 7.6 millones

Agentes y corredores de seguros independientes

Estadísticas de red:

• Total de la red de agentes independientes: 12,500 agentes
• Comisión promedio por derivación: $ 45- $ 75
• Ingresos anuales de referencia: $ 18.3 millones

Sitios web de comparación en línea

Sitio web de comparación	Ingresos de la asociación	Volumen de citas
Compare.com	$ 3.1 millones	215,000 citas anuales
Insurificar	$ 2.7 millones	185,000 citas anuales

Everquote, Inc. (siempre) - Modelo de negocio: actividades clave

Desarrollo del mercado de seguros en línea

Everquote invirtió $ 22.7 millones en desarrollo de tecnología en 2023. La plataforma de mercado de seguros en línea procesó 10.2 millones de solicitudes de cotización de seguros durante el año fiscal.

Métrico de desarrollo	Valor 2023
Inversión tecnológica	$ 22.7 millones
Solicitudes de cotización procesadas	10.2 millones
Tiempo de actividad de la plataforma	99.97%

Algoritmos de generación de leads y correspondencia

El proceso de algoritmos de correspondencia propietarios de Everquote más de 5 millones de solicitudes de seguro de consumo mensualmente.

• Algoritmos de aprendizaje automático con una precisión del 87.3% en la coincidencia de insultores del consumidor
• Comparación de cotización en tiempo real con más de 175 compañías de seguros
• Tasa de coincidencia promedio: 62.4% de las solicitudes de consumidores presentadas

Marketing digital y adquisición de clientes

El gasto de marketing en 2023 alcanzó los $ 48.3 millones, generando 3,6 millones de clientes potenciales de nuevos clientes.

Métrico de marketing	2023 rendimiento
Gasto de marketing	$ 48.3 millones
Nuevos clientes potenciales de clientes	3.6 millones
Costo de adquisición de clientes	$13.42

Mantenimiento de la plataforma de tecnología

Everquote asignó $ 16.5 millones a la infraestructura de la plataforma y la ciberseguridad en 2023.

• Infraestructura de soporte técnico 24/7
• Protocolos de cumplimiento de GDPR y CCPA
• Infraestructura en la nube alojada en AWS

Análisis de datos y optimización del rendimiento

La Compañía procesó 1.2 Petabytes de datos de seguro de consumo en 2023.

Métrica de análisis de datos	2023 rendimiento
Volumen de datos procesado	1.2 petabytes
Motores de análisis en tiempo real	12 sistemas dedicados
Modelos de aprendizaje automático	47 modelos predictivos activos

Everquote, Inc. (siempre) - Modelo de negocio: recursos clave

Tecnología de comparación de seguros avanzados

A partir del cuarto trimestre de 2023, la plataforma de tecnología de Everquote procesó 10.2 millones de solicitudes de cotización de seguro. La plataforma admite la comparación en múltiples categorías de seguros, incluidos automóviles, hogar, vida y seguro de salud.

Métrica de tecnología	2023 datos
Solicitudes de cotización procesadas	10.2 millones
Categorías de seguros compatibles	4 (auto, hogar, vida, salud)

Red de proveedores de seguros grandes

Everquote mantiene asociaciones con 175 compañías de seguros a diciembre de 2023.

• Asociaciones totales de la compañía de seguros: 175
• Cobertura geográfica: 50 estados de EE. UU.
• Tasa de comisión promedio de operadores: 3-7%

Datos del cliente y ideas de comportamiento

La base de datos de la compañía contiene más de 137 millones de perfiles de consumidores con comportamientos detallados de compra de seguros.

Métrico de datos	Volumen 2023
Perfiles de consumo	137 millones
Puntos de datos anuales recopilados	540 millones

Aprendizaje automático y algoritmos de IA

La infraestructura de aprendizaje automático de Everquote procesa el 98.3% de la coincidencia de cotizaciones en tiempo real con una tasa de precisión del 92.4%.

Infraestructura de marketing digital patentado

En 2023, las inversiones en marketing digital alcanzaron $ 42.6 millones, generando 5.2 millones de clientes potenciales calificados.

Métrico de marketing	2023 rendimiento
Inversión de marketing digital	$ 42.6 millones
Clientes potenciales calificados generados	5.2 millones

Everquote, Inc. (siempre) - Modelo de negocio: propuestas de valor

Comparación de cotización de seguro rápida y fácil

Everquote proporciona a los usuarios capacidades de comparación en más de 175 compañías de seguros en tiempo real. El usuario promedio puede comparar 5.7 cotizaciones de seguro dentro de los 5 minutos a través de la plataforma digital.

Métrico	Valor
Tiempo de comparación de cotizaciones promedio	5 minutos
Número de socios operadores	175+
Cotizaciones promedio por usuario	5.7

Múltiples opciones de seguro de diferentes operadores

La plataforma ofrece opciones de seguro integrales en múltiples categorías:

• Seguro de automóvil
• Seguro de hogar
• Seguro de vida
• Seguro de inquilino
• Seguro de motocicleta

Recomendaciones de seguro personalizadas

Everquote utiliza Algoritmos impulsados ​​por IA para generar recomendaciones de seguro personalizadas. La tecnología de aprendizaje automático coincide con el 87.3% de los usuarios con productos de seguro adecuados basados ​​en perfiles de riesgo individuales.

Precisión de recomendación	Porcentaje
Tasa de coincidencia personalizada	87.3%

Detalles de precios y cobertura transparentes

La plataforma proporciona información de precios detallada con ahorros promedio de $ 789 anualmente para los consumidores que cambian de proveedores de seguros.

Métrica de transparencia de precios	Valor
Ahorros anuales promedio	$789

Experiencia de compra de seguros digitales que ahorra tiempo

La plataforma digital reduce el tiempo de compra de seguros en un 76% en comparación con los métodos tradicionales. Los usuarios completan el proceso de cotización de seguro en aproximadamente 8.2 minutos.

Métrica de eficiencia de tiempo	Valor
Reducción del tiempo en comparación con los métodos tradicionales	76%
Tiempo de finalización de cotización promedio	8.2 minutos

Everquote, Inc. (siempre) - Modelo de negocio: relaciones con los clientes

Plataforma en línea de autoservicio

La plataforma en línea de Everquote procesó 10.4 millones de solicitudes de cotización de seguro en 2022, con el 98.3% de las interacciones realizadas a través de canales de autoservicio digital.

Métrica de plataforma	Datos 2022
Solicitudes de cotización total	10.4 millones
Tasa de autoservicio digital	98.3%
Duración promedio de la sesión del usuario	7.2 minutos

Generación de cotizaciones automatizadas

La empresa genera Aproximadamente 45,000 cotizaciones de seguro por día a través de su sistema automatizado.

• Tiempo promedio de generación de cotizaciones: 47 segundos
• Capacidades de comparación de múltiples carreras
• Algoritmo de precios en tiempo real

Atención al cliente a través de canales digitales

Everquote proporciona soporte digital a través de múltiples canales, con el 92.7% de las interacciones del cliente resueltas a través de métodos en línea en 2022.

Canal de soporte	Tasa de resolución
Chat en vivo	62.4%
Soporte por correo electrónico	24.3%
Soporte telefónico	13.3%

Motor de recomendación personalizado

Los procesos del motor de recomendación 3.6 millones de perfiles de usuario únicos mensualmente, con una tasa de conversión del 37.5% para recomendaciones de seguro personalizadas.

Interfaz digital fácil de usar

La interfaz digital de Everquote alcanzó un índice de satisfacción del usuario de 4.2/5 en 2022, con el 89.6% de los usuarios que completaron solicitudes de cotización dentro de la plataforma.

Métrica de rendimiento de la interfaz	Datos 2022
Calificación de satisfacción del usuario	4.2/5
Tasa de finalización de solicitud de solicitud de cotización	89.6%
Uso de la plataforma móvil	67.3%

Everquote, Inc. (Ever) - Modelo de negocios: canales

Sitio web de la empresa

El canal digital principal de Everquote es Everquote.com, que generó 2,634,721 visitantes únicos en el cuarto trimestre de 2023. Tasa de conversión del sitio web: 12.3% para solicitudes de cotizaciones de seguro.

Métrico del sitio web	2023 datos
Visitantes mensuales únicos	877,824
Duración de la sesión promedio	4.2 minutos
Tasa de rebote	47.6%

Aplicación móvil

Las descargas de aplicaciones móviles alcanzaron 1.246.587 en 2023, con una calificación de 4.1/5 en las tiendas de aplicaciones.

• Descargas de iOS App Store: 623,294
• Descargas de Google Play Store: 623,293
• Usuarios móviles mensuales activos: 412,356

Plataformas de publicidad en línea

Gasto de publicidad digital en 2023: $ 37.2 millones en las redes de Google, Facebook y Programmatic.

Plataforma	Gasto publicitario	Tasa de conversión
Ads de Google	$ 18.6 millones	3.7%
Anuncios de Facebook	$ 11.4 millones	2.9%
Redes programáticas	$ 7.2 millones	2.5%

Marketing por correo electrónico

Base de datos de marketing por correo electrónico: 2,876,543 suscriptores con una tasa de apertura del 22.4% en 2023.

• Campañas de correo electrónico mensuales: 12-15
• Tasa promedio de clics: 3.6%
• Tasa de conversión del correo electrónico: 1.8%

Redes de marketing de afiliación

Ingresos de la red total de afiliados en 2023: $ 42.6 millones, con 1,247 socios afiliados activos.

Red de afiliados	Contribución de ingresos	Número de socios
Sitios de comparación de seguros	$ 24.3 millones	687
Blogs de finanzas personales	$ 11.2 millones	392
Sitios web de seguro de nicho	$ 7.1 millones	168

Everquote, Inc. (siempre) - Modelo de negocio: segmentos de clientes

Buscadores individuales de seguros de automóviles

A partir del cuarto trimestre de 2023, Everquote atiende a aproximadamente 5.8 millones de compradores únicos de seguros de automóviles anualmente. Desglose demográfico clave:

Grupo de edad	Porcentaje
18-34 años	42%
35-54 años	38%
55+ años	20%

Buscadores de seguro de vivienda individuales

Everquote genera aproximadamente $ 47.3 millones en ingresos de los servicios del mercado de seguros de viviendas en 2023.

• Volumen de solicitud de cotización de seguro de hogar promedio: 750,000 anualmente
• Rango de edad del propietario: 30-65 años
• Valor promedio de la vivienda de los clientes: $ 285,000

Propietarios de pequeñas empresas

El segmento de seguros comerciales representa el 18.2% de los ingresos del mercado total de Everquote en 2023.

Tamaño de negocio	Contribución anual de ingresos
1-10 empleados	62%
11-50 empleados	28%
51-100 empleados	10%

Consumidores jóvenes y expertos en tecnología

Los compradores de seguros digitales primero comprenden el 55% de la base de usuarios totales de Everquote en 2023.

• Usuarios de aplicaciones móviles: 2.3 millones
• Duración promedio de la sesión digital: 7.4 minutos
• Tasa de conversión para usuarios digitales: 12.6%

Compradores de seguros sensibles a los precios

La comparación de precios sigue siendo un impulsor crítico para el 68% de los usuarios de Everquote Marketplace en 2023.

Comparación de cotización promedio	Porcentaje de usuarios
2-3 proveedores de seguros	42%
4-5 proveedores de seguros	38%
6+ proveedores de seguros	20%

Everquote, Inc. (siempre) - Modelo de negocio: Estructura de costos

Desarrollo y mantenimiento de la tecnología

Para el año fiscal 2023, Everquote reportó $ 38.4 millones en gastos de investigación y desarrollo, lo que representa el 35.7% de los ingresos totales.

Categoría de costos	Cantidad (2023)	Porcentaje de ingresos
Ingeniería de software	$ 22.1 millones	20.5%
Infraestructura en la nube	$ 8.7 millones	8.1%
Mantenimiento de la tecnología	$ 7.6 millones	7.1%

Gastos de marketing digital

En 2023, Everquote gastó $ 62.3 millones en gastos de marketing y ventas.

• Costos de publicidad digital: $ 45.2 millones
• Marketing de rendimiento: $ 12.5 millones
• Campañas de concientización de marca: $ 4.6 millones

Costos de adquisición de clientes

El costo de adquisición de clientes de la compañía (CAC) para 2023 fue de $ 18 por cliente.

Métrica de adquisición de clientes	Valor
Gasto total de marketing	$ 62.3 millones
Nuevos clientes adquiridos	3,460,000
CAC promedio	$18

Infraestructura de plataforma

Los costos de infraestructura para mantener la plataforma digital de Everquote totalizaron $ 12.9 millones en 2023.

• Servicios de alojamiento en la nube: $ 6.5 millones
• Infraestructura de red: $ 3.4 millones
• Seguridad y cumplimiento: $ 3 millones

Análisis de datos y inversiones de aprendizaje automático

Everquote asignó $ 16.2 millones a las iniciativas de análisis de datos y aprendizaje automático en 2023.

Área de inversión	Cantidad	Objetivo
Proceso de datos	$ 7.8 millones	Coincidencia algorítmica avanzada
I + D de aprendizaje automático	$ 5.4 millones	Modelado predictivo
Infraestructura de datos	$ 3 millones	Capacidades de almacenamiento y procesamiento

Everquote, Inc. (siempre) - Modelo de negocios: flujos de ingresos

Comisión de compañías de seguros

En el tercer trimestre de 2023, Everquote generó $ 65.2 millones en ingresos de la Comisión de Seguros. El desglose por tipo de seguro incluye:

Tipo de seguro	Ingresos por comisión
Seguro de automóvil	$ 37.8 millones
Seguro de hogar	$ 15.6 millones
Seguro de vida	$ 11.8 millones

Tarifas de generación de leads

Los ingresos de generación de leads de Everquote para 2023 totalizaron $ 92.4 millones, con la siguiente distribución:

• Proporciones de seguro digital: $ 68.3 millones
• Proporcados telefónicos: $ 24.1 millones

Ingresos de marketing basados ​​en el rendimiento

Los ingresos por marketing de rendimiento en 2023 alcanzaron $ 43.7 millones, con métricas clave:

Canal de marketing	Ganancia	Tasa de conversión
Publicidad digital	$ 26.5 millones	3.2%
Marketing de afiliados	$ 17.2 millones	2.9%

Monetización de datos

Los ingresos por monetización de datos de Everquote para 2023 fueron de $ 11.3 millones, derivados de:

• Insights del mercado de seguros: $ 6.7 millones
• Análisis de comportamiento del consumidor: $ 4.6 millones

Suscripciones de servicios premium

Los ingresos por suscripción de servicio premium en 2023 totalizaron $ 8.9 millones:

Nivel de suscripción	Ganancia	Suscriptores
Prima básica	$ 4.2 millones	12,500
Prima avanzada	$ 4.7 millones	8,300

EverQuote, Inc. (EVER) - Canvas Business Model: Value Propositions

You're looking at the core reasons why insurance providers and consumers choose EverQuote, Inc. It's about delivering measurable results, not just traffic. The platform's value is grounded in its massive data set and its evolution beyond simple lead delivery.

For Consumers: Fast, free, and easy comparison shopping for multiple quotes

The primary draw for the shopper is simplicity in a complex purchase. You get a single destination to compare options across a wide network. This network includes approximately ~60 carriers and around ~6,000 3rd party agents across multiple Property and Casualty (P&C) insurance markets. EverQuote, Inc. has built its entire marketplace on the promise of saving you time and money by providing multiple quotes that fit your needs from one spot.

For Consumers: Personalized user experiences maximizing conversion rates

EverQuote, Inc. uses its proprietary technology to tailor the experience. This personalization aims to maximize your conversion rate when you decide to purchase. The platform is powered by a proprietary data and AI platform leveraging over 4.0b+ consumer data points amassed since its inception over a decade ago. This scale of data helps align the consumer with the right provider.

For Providers: Efficiently acquire high-intent consumers at scale

For the insurance providers, the value proposition is access to a large volume of high-intent consumers. This is evident in the financial results; for instance, in the third quarter of 2025, enterprise carrier spend increased by over 27% year-over-year. The scale is significant, as EverQuote, Inc. has become the #1 customer acquisition partner for at least one major national carrier as of Q3 2025. The platform's total revenue in Q3 2025 hit a record $173.9 million, up 20% year-over-year, showing providers are committing more budget.

Here's a quick look at the scale and financial commitment from providers:

Metric	Value (Q3 2025 or Latest Available)	Context
Total Revenue	$173.9 million	Q3 2025 Total Revenue
Auto Vertical Revenue	$157.6 million	Q3 2025 Auto Insurance Revenue
Home/Renters Vertical Revenue	$16.3 million	Q3 2025 Home and Renters Revenue
Enterprise Carrier Spend Growth	>27% YoY	Q3 2025 Growth in Enterprise Carrier Spend
Adjusted EBITDA Margin	14.4%	Q3 2025 Margin

For Providers: Higher ROI through target-based consumer attributes and better referrals

The focus here is on delivering better performance per dollar spent, moving beyond simple lead volume. Providers get higher Return on Investment (ROI) because the platform uses target-based consumer attributes to make better referrals. The company is fast-evolving from a lead generation vendor to a growth solutions partner, delivering what they call better performing referrals. This focus on quality over sheer quantity is what drives the financial results, with GAAP Net Income reaching a record $18.9 million in Q3 2025, a 63% increase year-over-year.

For Providers: Transformation into a multi-product, AI-powered growth solution

EverQuote, Inc. is actively embedding artificial intelligence (AI) to accelerate this transformation. A concrete example of this AI-powered product is Smart Campaigns 3.0. Customers who transitioned to this new AI bidding product experienced a 7% improvement in ad spend efficiency. The company is setting sights on reaching $1 billion of annual revenue within the next two to three years, supported by this technological shift. The expected full-year 2025 revenue growth is projected to be approximately 35%, with annual Adjusted EBITDA growth over 55%.

You can see the strategic shift in these key areas:

• Platform leverages proprietary AI technology.
• Smart Campaigns 3.0 yielded 7% ad spend efficiency improvement.
• Goal to reach $1 billion annual revenue in 2 to 3 years.
• Expected full-year 2025 revenue growth of roughly 35%.
• Expected full-year 2025 Adjusted EBITDA growth over 55%.

Finance: draft 13-week cash view by Friday.

EverQuote, Inc. (EVER) - Canvas Business Model: Customer Relationships

You're looking at how EverQuote, Inc. manages its relationships with the two sides of its marketplace-the insurance providers and the consumers-as of late 2025. This block is all about how the company builds and maintains those connections to drive its growth partner vision.

Dedicated Enterprise Sales and Account Management for Large Carriers

For your large carrier customers, EverQuote, Inc. focuses on a deep, integrated relationship, moving beyond simple lead flow to being a primary growth engine. This is where the dedicated enterprise sales and account management teams come in. The results show this strategy is working; in the third quarter of 2025, revenue growth was heavily influenced by stronger enterprise carrier spend, which increased by over 27% year-over-year. To put that in perspective, in the second quarter of 2025, that same enterprise carrier spend was up over 61% compared to the prior year period. The goal here is clear: to become the leading growth partner for property and casualty (P&C) insurance providers. Evidence of this success is that the firm has become the #1 customer acquisition partner for at least one major national carrier as of the third quarter of 2025. This relationship is high-touch, focused on embedding EverQuote, Inc.'s technology directly into their acquisition strategy.

Automated, Self-Service Tools for Local Agents and Smaller Providers

The relationship with local agents and smaller providers leans more toward scalable, automated tools, though still supported by the overall partnership structure. EverQuote, Inc. supports a diversified distribution model that includes approximately 6,000 3rd party agents across multiple P&C insurance markets, based on year-end 2024 figures, which you can assume is the base for 2025. The focus here is on driving adoption of their technology suite to improve agent efficiency. We see traction here: over the six months leading up to the second quarter of 2025, paid products per agent increased by more than 15%. Furthermore, over a third of the total agent base is now using multiple products, showing a successful push toward self-service adoption of their offerings.

High-Touch, Integrated Partnership Model to Become a Primary Growth Partner

The core of the carrier relationship is this high-touch, integrated partnership, which is central to EverQuote, Inc.'s stated vision. This isn't just transactional; it's about becoming indispensable. The company aims to deliver three key things to its partners: better performing referrals, bigger traffic scale, and a broader suite of products and services. The platform supports approximately 60 carriers, and the company is actively working to get its top partners spending at or above their prior peak levels, noting that 80% of its top 25 partners still remain below prior peak spend as of late 2025, indicating significant upside potential in this relationship segment.

Here's a quick look at the scale of the provider base and recent growth:

Metric	Value (as of late 2025 data)	Context/Period
Total Carriers Supported	~60	As of December 31, 2024 base
Total 3rd Party Agents Supported	~6,000	As of December 31, 2024 base
Enterprise Carrier Spend YoY Growth	27%	Q3 2025 vs. Q3 2024
Enterprise Carrier Spend YoY Growth	61%	Q2 2025 vs. Q2 2024
Top 25 Partners Below Prior Peak Spend	80%	Indicates upside potential

Automated Digital Experience for Consumers on the Comparison Platform

For the consumer, the relationship is almost entirely automated and digital, designed for efficiency and personalization. The platform acts as a single destination for P&C insurance needs, offering a personalized shopping experience. This is powered by EverQuote, Inc.'s proprietary data and technology platform, which leverages over 4.0 billion consumer data points amassed over a decade. The consumer relationship is sustained by the platform's ability to match them with relevant options from its network, which is key to their value proposition of saving time and money. The company's Q1 2025 results showed a massive 83% year-over-year revenue increase, partly fueled by the recovery in auto insurance shopping, which is the core consumer interaction point.

The consumer-facing relationship is supported by the underlying technology assets:

• Consumer Data Points Amassed: Over 4.0 billion.
• Q1 2025 Revenue Growth (Overall): 83% year-over-year.
• Q3 2025 Auto Insurance Vertical Revenue: $157.6 million.
• Q3 2025 Home and Renters Insurance Vertical Revenue: $16.3 million.

EverQuote, Inc. (EVER) - Canvas Business Model: Channels

The channels EverQuote, Inc. uses to reach customers and deliver value are deeply integrated with its technology platform.

Core online insurance marketplace (EverQuote.com)

• The marketplace generated total revenues of $173.9 million in the third quarter of 2025.
• Automotive insurance vertical revenue, a primary output of the marketplace, was $157.6 million in Q3 2025, marking a 21% year-over-year increase.
• Home and renters insurance vertical revenue reached $16.3 million in Q3 2025, up 15% year-over-year.

The core marketplace serves as the central point for consumer traffic, which is then distributed to provider partners.

Direct distribution to insurance carriers and local agents

EverQuote, Inc. serves insurance providers through direct connections, moving beyond simple lead generation to become a growth partner.

Distribution Metric	Value (Q3 2025)	Comparison/Context
Enterprise Carrier Spend Growth	Over 27%	Year-over-year increase in Q3 2025.
Local Agent Network	Extensive distribution channels	Mentioned as a key component of distribution alongside carriers.
Carrier Partner Status	Top partner	Positioned as the top customer acquisition partner for a major national carrier.

The company is actively embedding AI to accelerate its transformation to a multi-product, AI-powered growth solutions provider for carriers and agents.

Performance-based digital advertising channels (e.g., search, social, display)

The investment in driving traffic through these channels is tracked via Variable Marketing Dollars (VMD).

• Variable Marketing Dollars (VMD) for Q3 2025 totaled $50.1 million, a 14% increase compared to $43.9 million in Q3 2024.
• The company projects full-year 2025 VMD to be between $46 million and $48 million at the midpoint.
• The proprietary AI bidding platform, Smart Campaigns 3.0, delivered a 7% improvement in ad spend efficiency for customers transitioning to the new version.

The total addressable market for P&C insurance distribution and advertising spend is estimated at $117 billion annually, with the digital advertising segment specifically accounting for $7 billion and growing at an estimated 15% annually.

Mobile applications and mobile web for consumer access

While specific mobile app usage statistics weren't detailed, the overall marketplace performance implies significant mobile web and application traffic, as the company is a leading online insurance marketplace.

The company's vision includes reaching $1 billion in annual revenue within two to three years, which relies on scaling these digital access points.

Finance: draft 13-week cash view by Friday.

EverQuote, Inc. (EVER) - Canvas Business Model: Customer Segments

Property & Casualty (P&C) Insurance Carriers are served as enterprise customers, with enterprise carrier spend growing over 27% year-over-year in Q3 2025. The total U.S. P&C distribution and advertising spend market is estimated at $117 billion, with digital advertising spend within that market at $7 billion.

Independent and captive local insurance agents form the 3rd party network. In Q3 2025, over 35% of EverQuote's local agent customers were using more than one of the company's 4 agent products.

US Consumers actively shopping for auto insurance represent the core segment. This vertical generated $157.6 million in revenue for Q3 2025, which equates to approximately 90.6% of total Q3 2025 revenue.

US Consumers shopping for home and renters insurance is a growing segment. Revenue from this vertical increased 15% year-over-year to reach $16.3 million in Q3 2025.

Here's the quick math on the Q3 2025 revenue distribution across the main verticals:

Customer Segment Focus	Q3 2025 Revenue (USD)	Year-over-Year Growth
Auto Insurance Vertical	$157.6 million	21%
Home and Renters Insurance Vertical	$16.3 million	15%
Total Revenue	$173.9 million	20%

Other relevant figures related to the customer base and engagement include:

• Variable Marketing Dollars (VMD) reached a record $50.1 million in Q3 2025.
• Variable Marketing Margin (VMM) for Q3 2025 was 28.8%.
• One major national carrier notified EverQuote in Q3 2025 that the company became their #1 customer acquisition partner in their channel.
• The company is targeting $1 billion of annual revenue in the next 2 to 3 years.

EverQuote, Inc. (EVER) - Canvas Business Model: Cost Structure

You're looking at the major outflows for EverQuote, Inc. (EVER) as of late 2025. The cost structure centers heavily on acquiring consumers efficiently and investing in the underlying technology that powers the marketplace. It's a model where a significant chunk of revenue is immediately reinvested into growth, but the goal is to scale that revenue faster than the reinvestment cost.

The most direct cost tied to customer acquisition is the Variable Marketing Dollars (VMD). For the third quarter of 2025, this figure hit a record level at $50.1 million. This spend is directly related to generating the leads that become revenue. To gauge the efficiency of this spend, the Variable Marketing Margin (VMM) for Q3 2025 was 28.8%. This means that for every dollar of revenue generated, about 28.8 cents were left after paying for the advertising costs that drove that revenue, before considering other operating costs.

The remaining operational costs, which support the asset-light model by funding the platform and the people running it, are captured in what EverQuote calls Cash Operating Expenses, excluding advertising spend. For Q3 2025, these expenses were $25.1 million. This figure bundles your technology investment, personnel, and general overhead.

Here's a look at the key cost-related metrics from the third quarter of 2025:

Cost Component Category	Q3 2025 Amount (in millions)	Context/Detail
Variable Marketing Dollars (VMD)	$50.1	Direct consumer acquisition spend.
Cash Operating Expenses (Excl. Advertising)	$25.1	Covers technology, personnel, and G&A.
Variable Marketing Margin (VMM)	28.8%	VMD as a percentage of total revenue.

The investment in the core platform-your technology and development expenses for the AI platform and data assets-is a key driver within those operating expenses. Management noted that Cash Operating Expenses were up by approximately $1.5 million sequentially from the prior quarter specifically for planned investments in AI and technology capabilities. This shows where capital is being actively deployed to enhance the marketplace.

Personnel costs, which include your engineering and data science teams essential for that AI development, are a major part of the $25.1 million Cash Operating Expenses. To be fair, this number also includes the General and Administrative expenses needed to run the business, which should be relatively lean given the asset-light model EverQuote runs. The focus here is on leveraging scale to keep these fixed/semi-fixed costs flat year-over-year while revenue grows significantly.

You can see the allocation of spend across the primary cost drivers:

• Variable Marketing Dollars (VMD): $50.1 million in Q3 2025.
• Technology Investment Focus: Sequential increase of approximately $1.5 million in Cash Operating Expenses for AI/tech capabilities.
• Total Non-Advertising Operating Costs: $25.1 million in Q3 2025.
• Personnel and G&A: Components of the $25.1 million Cash Operating Expenses.

Finance: draft 13-week cash view by Friday.

EverQuote, Inc. (EVER) - Canvas Business Model: Revenue Streams

You're looking at how EverQuote, Inc. (EVER) actually brings in the money, and it boils down to performance-based transactions with insurance providers. The fundamental mechanism involves charging insurance providers and agents for connecting them with consumers actively shopping for insurance policies. This payment structure is primarily based on Cost-Per-Click (CPC) and Cost-Per-Lead (CPL) fees, meaning the partners pay when a consumer clicks through or submits their information for a quote.

To give you a clear picture of the scale as of late 2025, here is the revenue composition based on the third quarter results ending September 30, 2025. This data shows where the bulk of the $173.9 million in total revenue came from.

Revenue Vertical	Q3 2025 Revenue (Millions)	Year-over-Year Growth
Automotive Insurance	$157.6 million	21%
Home and Renters Insurance	$16.3 million	15%
Other Insurance	$0.01 million	-97.7%
Total Revenue	$173.9 million	20%

The automotive insurance vertical is definitely the engine here, making up the vast majority of the top line. Still, the diversification into property lines is showing traction. Here are the key takeaways from that revenue performance:

• Automotive insurance vertical revenue was the largest stream at $157.6 million in Q3 2025.
• Home and renters insurance vertical revenue was $16.3 million in Q3 2025.
• Total revenue reached $173.9 million in Q3 2025, marking a 20% year-over-year increase.
• Enterprise carrier spend, a key driver of these fees, grew over 27% compared to the same period last year.
• Variable Marketing Dollars (VMD), which is revenue less advertising costs, hit $50.1 million, up 14% year-over-year.

The success in driving these revenue streams translated directly to the bottom line, which is what matters for valuation. You saw record profitability alongside that revenue growth. For instance, the company reported GAAP net income of $18.9 million, a 63% increase year-over-year. Furthermore, Adjusted EBITDA increased 33% year-over-year to reach $25.1 million, expanding the margin to 14.4% in the quarter. Finance: draft 13-week cash view by Friday.