Everquote, Inc. (Ever): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la comparaison des assurances numériques, Everquote, Inc. (jamais) a révolutionné la façon dont les consommateurs trouvent et achètent une assurance en créant un marché en ligne sophistiqué qui relie les demandeurs d'assurance avec plusieurs transporteurs grâce à des technologies de pointe. En tirant parti des algorithmes avancés, des recommandations personnalisées et un vaste réseau de fournisseurs d'assurance, Everquote transforme l'expérience d'achat d'assurance traditionnellement complexe en un parcours numérique sans couture et convivial qui permet aux consommateurs de prendre des décisions éclairées rapidement et efficacement.

Everquote, Inc. (Ever) - Modèle commercial: partenariats clés

Compagnies d'assurance

Everquote s'associe à plusieurs assureurs pour fournir des comparaisons de devis complètes:

Compagnie d'assurance	Détails du partenariat	Part de marché
Progressif	Partenaire d'assurance primaire	28,3% des devis générés
À l'échelle nationale	Fournisseur de devis majeur	19,7% du volume de citation
Liberty Mutual	Partenaire d'assurance stratégique	15,2% de la génération de citations

Plateformes de marketing numérique

Everquote exploite plusieurs plateformes de marketing numérique pour l'acquisition de clients:

• Google Ads: 62% des dépenses en marketing numérique
• Publicité Facebook: 23% du budget du marketing numérique
• Publicité Microsoft: 15% des canaux de marketing numériques

Fournisseurs de technologies et d'analyse de données

Fournisseur	Service	Investissement annuel
Flocon de neige	Plate-forme de données cloud	4,2 millions de dollars
Services Web Amazon	Infrastructure cloud	7,6 millions de dollars

Agents et courtiers d'assurance indépendants

Statistiques du réseau:

• Réseau d'agent indépendant total: 12 500 agents
• Commission moyenne par référence: 45 $ à 75 $
• Revenus de référence annuels: 18,3 millions de dollars

Sites Web de comparaison en ligne

Site de comparaison	Revenus de partenariat	Volume de devis
Comparer.com	3,1 millions de dollars	215 000 citations annuelles
Assurer	2,7 millions de dollars	185 000 citations annuelles

Everquote, Inc. (Ever) - Modèle d'entreprise: activités clés

Développement du marché de l'assurance en ligne

Everquote a investi 22,7 millions de dollars dans le développement de la technologie en 2023. La plate-forme en ligne sur le marché de l'assurance a traité 10,2 millions de demandes de devis d'assurance au cours de l'exercice.

Métrique de développement	Valeur 2023
Investissement technologique	22,7 millions de dollars
Quote Demandes traitées	10,2 millions
Time de disponibilité de la plate-forme	99.97%

Algorithmes de génération de leads et de correspondance

Les algorithmes de correspondance propriétaires d'Everquote traitent les demandes d'assurance consommateur mensuelles.

• Algorithmes d'apprentissage automatique avec une précision de 87,3% dans la correspondance des assureurs consommateurs
• Comparaison de citations en temps réel entre plus de 175 compagnies d'assurance
• Taux de correspondance moyen: 62,4% des demandes de consommation soumises

Marketing numérique et acquisition de clients

Les dépenses de marketing en 2023 ont atteint 48,3 millions de dollars, générant 3,6 millions de nouveaux clients.

Métrique marketing	Performance de 2023
Dépenses marketing	48,3 millions de dollars
Nouveau client Leads	3,6 millions
Coût d'acquisition des clients	$13.42

Maintenance de la plate-forme technologique

Everquote a alloué 16,5 millions de dollars aux infrastructures de plate-forme et à la cybersécurité en 2023.

• Infrastructure de support technique 24/7
• Protocoles de conformité du RGPD et du CCPA
• Infrastructure cloud hébergée sur AWS

Analyse des données et optimisation des performances

La société a traité 1,2 pétaoctets de données d'assurance grand public en 2023.

Métrique d'analyse des données	Performance de 2023
Volume de données traité	1,2 pétaoctets
Moteurs d'analyse en temps réel	12 systèmes dédiés
Modèles d'apprentissage automatique	47 modèles prédictifs actifs

Everquote, Inc. (Ever) - Modèle d'entreprise: Ressources clés

Technologie de comparaison d'assurance avancée

Au quatrième trimestre 2023, la plate-forme technologique d'Everquote a traité 10,2 millions de demandes de devis d'assurance. La plateforme soutient la comparaison entre plusieurs catégories d'assurance, notamment l'assurance automobile, la maison, la vie et la santé.

Métrique technologique	2023 données
Quote Demandes traitées	10,2 millions
Catégories d'assurance soutenues	4 (auto, maison, vie, santé)

Grand réseau de fournisseurs d'assurance

Everquote maintient des partenariats avec 175 compagnies d'assurance en décembre 2023.

• Partenariats totaux d'assurance: 175
• Couverture géographique: 50 États américains
• Taux de commission moyen des transporteurs: 3-7%

Données clients et idées comportementales

La base de données de l'entreprise contient plus de 137 millions de profils de consommateurs avec des comportements d'achat d'assurance détaillés.

Métrique de données	Volume 2023
Profils de consommation	137 millions
Points de données annuels collectés	540 millions

Apprentissage automatique et algorithmes d'IA

L'infrastructure d'apprentissage automatique d'Everquote traite 98,3% de la correspondance de devis en temps réel avec un taux de précision de 92,4%.

Infrastructure de marketing numérique propriétaire

En 2023, les investissements en marketing numérique ont atteint 42,6 millions de dollars, générant 5,2 millions de prospects d'assurance qualifiés.

Métrique marketing	Performance de 2023
Investissement en marketing numérique	42,6 millions de dollars
Leads qualifiés générés	5,2 millions

Everquote, Inc. (Ever) - Modèle d'entreprise: propositions de valeur

Comparaison de citations d'assurance rapide et facile

Everquote fournit aux utilisateurs des capacités de comparaison entre plus de 175 compagnies d'assurance en temps réel. L'utilisateur moyen peut comparer 5,7 devis d'assurance dans les 5 minutes grâce à la plate-forme numérique.

Métrique	Valeur
Temps de comparaison de la citation moyenne	5 minutes
Nombre de partenaires transporteurs	175+
Quotes moyens par utilisateur	5.7

Plusieurs options d'assurance de différents transporteurs

La plate-forme offre des options d'assurance complètes dans plusieurs catégories:

• Assurance automobile
• Assurance habitation
• Assurance-vie
• Assurance des locataires
• Assurance moto

Recommandations d'assurance personnalisées

Everquote utilise Algorithmes pilotés pour générer des recommandations d'assurance personnalisées. La technologie d'apprentissage automatique correspond à 87,3% des utilisateurs avec des produits d'assurance appropriés en fonction des profils de risque individuels.

Précision de recommandation	Pourcentage
Taux de correspondance personnalisé	87.3%

Détails de tarification et de couverture transparentes

La plate-forme fournit des informations détaillées sur les prix avec des économies moyennes de 789 $ par an pour les consommateurs qui changent les fournisseurs d'assurance.

Métrique de transparence des prix	Valeur
Économies annuelles moyennes	$789

Expérience d'achat d'assurance numérique à gagner du temps

La plate-forme numérique réduit le temps d'achat d'assurance de 76% par rapport aux méthodes traditionnelles. Les utilisateurs complètent le processus de devis d'assurance en environ 8,2 minutes.

Métrique d'efficacité du temps	Valeur
Réduction du temps par rapport aux méthodes traditionnelles	76%
Temps d'achèvement moyen	8,2 minutes

Everquote, Inc. (Ever) - Modèle d'entreprise: relations clients

Plateforme en ligne en libre-service

La plate-forme en ligne d'Everquote a traité 10,4 millions de demandes de devis d'assurance en 2022, avec 98,3% des interactions menées via des canaux en libre-service numériques.

Métrique de la plate-forme	2022 données
Demandes de devis total	10,4 millions
Taux de libre-service numérique	98.3%
Durée moyenne de la session utilisateur	7,2 minutes

Génération de citations automatisées

L'entreprise génère Environ 45 000 devis d'assurance par jour à travers son système automatisé.

• Temps moyen de génération de citations: 47 secondes
• Capacités de comparaison multi-porteurs
• Algorithme de tarification en temps réel

Support client via les canaux numériques

Everquote fournit un support numérique via plusieurs canaux, avec 92,7% des interactions client résolues par le biais de méthodes en ligne en 2022.

Canal de support	Taux de résolution
Chat en direct	62.4%
Assistance par e-mail	24.3%
Support téléphonique	13.3%

Moteur de recommandation personnalisé

Le moteur de recommandation traite 3,6 millions de profils d'utilisateurs uniques mensuellement, avec un taux de conversion de 37,5% pour les recommandations d'assurance personnalisées.

Interface numérique conviviale

L'interface numérique d'Everquote a obtenu une note de satisfaction de l'utilisateur de 4,2 / 5 en 2022, 89,6% des utilisateurs remplissant les demandes de devis dans la plate-forme.

Métrique de performance d'interface	2022 données
Évaluation de satisfaction des utilisateurs	4.2/5
Taux d'achèvement de la demande de devis	89.6%
Utilisation de la plate-forme mobile	67.3%

Everquote, Inc. (Ever) - Modèle d'entreprise: canaux

Site Web de l'entreprise

Le principal canal numérique d'Everquote est Everquote.com, qui a généré 2 634 721 visiteurs uniques au T4 2023. Taux de conversion du site Web: 12,3% pour les demandes de devis d'assurance.

Métrique du site Web	2023 données
Visiteurs mensuels uniques	877,824
Durée moyenne de la session	4,2 minutes
Taux de rebond	47.6%

Application mobile

Les téléchargements d'applications mobiles ont atteint 1 246 587 en 2023, avec une cote 4.1 / 5 sur les magasins d'applications.

• Téléchargements iOS de l'App Store: 623 294
• Téléchargements de Google Play Store: 623 293
• Utilisateurs mobiles mensuels actifs: 412 356

Plateformes de publicité en ligne

La publicité numérique dépense en 2023: 37,2 millions de dollars sur Google, Facebook et les réseaux programmatiques.

Plate-forme	Dépense publicitaire	Taux de conversion
Publicités Google	18,6 millions de dollars	3.7%
Publicités Facebook	11,4 millions de dollars	2.9%
Réseaux programmatiques	7,2 millions de dollars	2.5%

E-mail marketing

Base de données de marketing par e-mail: 2 876 543 abonnés avec un taux d'ouverture de 22,4% en 2023.

• Campions par e-mail mensuelles: 12-15
• Taux de clics moyen: 3,6%
• Taux de conversion à partir de l'e-mail: 1,8%

Réseaux de marketing d'affiliation

Total Affiliate Network Revenue en 2023: 42,6 millions de dollars, avec 1 247 partenaires affiliés actifs.

Réseau d'affiliation	Contribution des revenus	Nombre de partenaires
Sites de comparaison d'assurance	24,3 millions de dollars	687
Blogs de finance personnelle	11,2 millions de dollars	392
Sites Web d'assurance de niche	7,1 millions de dollars	168

Everquote, Inc. (Ever) - Modèle d'entreprise: segments de clientèle

Demandeurs d'assurance automobile individuels

Au quatrième trimestre 2023, Everquote dessert environ 5,8 millions d'acheteurs d'assurance automobile uniques par an. Vétonnant démographique clé:

Groupe d'âge	Pourcentage
18-34 ans	42%
35 à 54 ans	38%
Plus de 55 ans	20%

Demandeurs d'assurance habitation individuels

Everquote génère environ 47,3 millions de dollars de revenus de Home Insurance Marketplace Services en 2023.

• Volume de demande de devis d'assurance habitation moyenne: 750 000 par an
• P tale d'âge de propriétaire: 30 à 65 ans
• Valeur médiane de la maison des clients: 285 000 $

Propriétaires de petites entreprises

Le segment de l'assurance commerciale représente 18,2% des revenus totaux du marché d'Everquote en 2023.

Taille de l'entreprise	Contribution annuelle des revenus
1 à 10 employés	62%
11-50 employés	28%
51-100 employés	10%

Consommateurs jeunes et avertis en technologie

Les acheteurs d'assurance numérique d'abord représentent 55% de la base d'utilisateurs totale d'Everquote en 2023.

• Utilisateurs d'applications mobiles: 2,3 millions
• Durée moyenne de session numérique: 7,4 minutes
• Taux de conversion pour les utilisateurs numériques: 12,6%

Acheteurs d'assurance sensibles aux prix

La comparaison des prix reste un moteur critique pour 68% des utilisateurs d'Everquote Marketplace en 2023.

Comparaison moyenne des citations	Pourcentage d'utilisateurs
2-3 assureurs	42%
4-5 assureurs	38%
6+ assureurs	20%

Everquote, Inc. (Ever) - Modèle d'entreprise: Structure des coûts

Développement et maintenance technologiques

Pour l'exercice 2023, Everquote a déclaré 38,4 millions de dollars de frais de recherche et développement, ce qui représente 35,7% des revenus totaux.

Catégorie de coûts	Montant (2023)	Pourcentage de revenus
Génie logiciel	22,1 millions de dollars	20.5%
Infrastructure cloud	8,7 millions de dollars	8.1%
Maintenance technologique	7,6 millions de dollars	7.1%

Dépenses de marketing numérique

En 2023, Everquote a dépensé 62,3 millions de dollars en frais de marketing et de vente.

• Coûts de publicité numérique: 45,2 millions de dollars
• Marketing de performance: 12,5 millions de dollars
• Campagnes de sensibilisation de la marque: 4,6 millions de dollars

Coûts d'acquisition des clients

Le coût d'acquisition des clients de l'entreprise (CAC) pour 2023 était de 18 $ par client.

Métrique d'acquisition du client	Valeur
Dépenses marketing totales	62,3 millions de dollars
De nouveaux clients acquis	3,460,000
CAC moyen	$18

Infrastructure de plate-forme

Les coûts d'infrastructure pour le maintien de la plate-forme numérique d'Everquote ont totalisé 12,9 millions de dollars en 2023.

• Services d'hébergement cloud: 6,5 millions de dollars
• Infrastructure réseau: 3,4 millions de dollars
• Sécurité et conformité: 3 millions de dollars

Analyse des données et investissements d'apprentissage automatique

Everquote a alloué 16,2 millions de dollars aux initiatives d'analyse des données et d'apprentissage automatique en 2023.

Zone d'investissement	Montant	But
Informatique	7,8 millions de dollars	Correspondance algorithmique avancée
R&D d'apprentissage automatique	5,4 millions de dollars	Modélisation prédictive
Infrastructure de données	3 millions de dollars	Capacités de stockage et de traitement

Everquote, Inc. (Ever) - Modèle d'entreprise: Strots de revenus

Commission des compagnies d'assurance

Au troisième trimestre 2023, Everquote a généré 65,2 millions de dollars de revenus de la Commission d'assurance. La rupture par type d'assurance comprend:

Type d'assurance	Revenus de commission
Assurance automobile	37,8 millions de dollars
Assurance habitation	15,6 millions de dollars
Assurance-vie	11,8 millions de dollars

Frais de génération de leads

Les revenus de génération de leads d'Everquote pour 2023 ont totalisé 92,4 millions de dollars, avec la distribution suivante:

• Leads d'assurance numérique: 68,3 millions de dollars
• Plances téléphoniques: 24,1 millions de dollars

Revenus marketing basés sur les performances

Les revenus de marketing de performance en 2023 ont atteint 43,7 millions de dollars, avec des mesures clés:

Canal de marketing	Revenu	Taux de conversion
Publicité numérique	26,5 millions de dollars	3.2%
Marketing d'affiliation	17,2 millions de dollars	2.9%

Monétisation des données

Les revenus de monétisation des données d'Everquote pour 2023 étaient de 11,3 millions de dollars, dérivés de:

• Informations sur le marché de l'assurance: 6,7 millions de dollars
• Analyse des comportements des consommateurs: 4,6 millions de dollars

Abonnements de services premium

Les revenus d'abonnement aux services premium en 2023 ont totalisé 8,9 millions de dollars:

Niveau d'abonnement	Revenu	Abonnés
Prime de base	4,2 millions de dollars	12,500
Prime avancée	4,7 millions de dollars	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.