EVER - Earnings call transcript Q2 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon ladies and gentlemen. Thank you for attending today's EverQuote Q2 2022 Earnings Call. My name is Tia and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions] I would now pass the conference over to your host Brinlea Johnson of Blueshirt Group.

proceed. may You

Brinlea Johnson

With afternoon and earnings Good in to second of EverQuote's market EverQuote's press afternoon call Thank Jayme EverQuote. Wagner, is We'll and Chief be XXXX Mendal, closed. the after call. issued Executive announced on discussing quarter the release this Officer; you. Chief today welcome me John the our Officer results Financial

to laws business investments including call, acquire in for XXXX, will statements our concerning and auto our under the make that our inflation. may drive plans existing to including integrations, customers, our our on new insurance we to impact acquisitions, and statements other quarter of be to prospects, the recovery and strategy, maintain ability the industry, business, business, plans guidance During federal the our financial key of direct-to-consumer expect related securities goals expectations statements our and second we and our for regarding initiatives forward-looking our considered our recent the statements possible our agency, our execute growth growth growth regarding the strategy, year and levers full

believe, or and obligation we by update our of required words any as may to be these with subsequent statements except views of identified expect, we views specifically as These considered should We disclaim and statements only such any phrases. not today forward-looking plan, and intend, words law. be date. as revise we as we may, Forward-looking upcoming, similar we anticipate, phrases and reflect our statements

of the from expectations. results are that performance cause to differ subject or promises not risks Forward-looking actual statements are future of could and to uncertainties variety and materially our a guarantees

recent Relations the and section at investor.everquote.com Exchange on and refer those website most For Form of our Factors and with on of and SEC's Report results, material on under on actual XX-Q could the website risks please file available cause Securities the in contained the our Investor Commission to Risk which is Quarterly other important heading a that factors discussion sec.gov. our at

of Finally, GAAP in during financial refer of measures the believe measures, investors. to is reconciliation course of call, certain press issued Investor are is to non-GAAP non-GAAP helpful A website included which today, after which we that, we'll release investors.everquote.com. the the I'll Relations close turn to to we on over And today's market of the it available with at our Jayme. section

Jayme Mendal

and financial today. for across you the Thank expectations you, us margin second revenue and million, of or attribute the success joining $XXX.X volatility variable in million, effectively adjusted headwinds $X.X ability quarter and navigate our fueled three Brinlea our KPIs, thank demonstrated continued primary In to guidance of strong all delivering analytics, auto we exceeded quarter, EBITDA agile as million. positive We insurance industry. management $XX.X to VMM our marketing the their operating teams in by increased

requests side the offset consumer helped carrier strong growth volume XX% monetization traffic the On year-on-year. with quote consumer marketplace, of of lower

amidst volatile spend reacted demand the adjusting to margin carrier near acquisition swiftly, teams customer ad real-time Our throughout maximize continuously quarter. in

revenues perform distribution contracted. channel marketplace, our in direct the increased Direct-to-consumer year-over-year Local the exceeding internal agents to side even caps QX, channels and representing our our within our or well, of in XX% exhibit while QX agent-oriented agency On resilience projections. and carrier continue to DTCA provider budget strength continue marketplace. of

continue higher unit coaching improvement through to performance amidst in of we carrier the segments. LTV drove advisor three, states a exited a Throughout One, QX, of economic ancillary and we meaningful the cash the improve tenuring environment period Over attach and as course efficiency of continues and and and in the mix follows. and DTCA rates carriers continued profitability volatility. carrier Meanwhile, increased health we Medicare for Two, our traffic optimization. unprofitable products. health towards direct quarter agents, and auto significant as well as lock-in to shifted operations Medicare, challenging we tech channel and exhibit policy

in levels seen below meaningfully trough carriers dynamic carrier and QX. result shows direct lows channel change expecting of not monetization auto QX, QX July reached a in continued from are As we new last to demand within deterioration XXXX. the this

lower We QX, cue also locking in open period. of seasonally expect demand ahead to period slower health reflecting the enrollment experience Ford's

uncertainty carriers by limiting auto factor inflation the surging to a pace are now Turning their of the key as caused environment, broader citing recovery.

QX caused to significantly before While changes of the more in driving XXXX. actions increase for them to one, carriers will acquisition cost than expected that they the their certain expected. a is restrict a environment, previously we forward second our market. and In very return able this In we When to our turbulent begin consumers and navigating inflation quickly unlikely we spend Data to of revenue remain insurance demand closing, and rates altering conditions reflect profitability. large react spend, to market carriers renewal to include while structure we a carriers, ad we believe recent seen to XXXX partner that levels are to expect budgets deliver acquisition, rates. and reacted of to occur more are is and likely normalize shopping, in the supports and more by previously a that from current in as higher customer half second inflation ratios stabilizes levels QX, of depressed, further outlook underwriting improving number successfully leading have by That managing to will half appetite limit surging environment combined direct loss customer and from feedback around go uncertainty the loss good rebound ours.

in quarter actions strategy to distribution agent unstable third the We also in to market, and different remain than likely our benefited the an from our into channels. required are We be diversify second.

strong to the through its while uncertainty long-term our adapt the become has towards quickly continue we and with we a demonstrated to strategy results capacity team ahead, and make execute, confident progress continuing largest are However, to a financial deliver make to vision that combining changes and personalized. technology, to knowledgeable will our and insurance laser-focused by advisors building proud affordable to data, online in on an team's be source continue to ability I the industry. more insurance navigate incredibly of company. We remain of simpler, defining industry policies

demand EBITDA. carrier EverQuote auto will adjusted and recovers, expect our well-positioned growth, to that return As we historic strong expanding to revenue trends, be

more Now, details John our I'll financial turn to call over provide the on results. to

John Wagner

Jayme, then year of third and you, and our the quarter financial start by second the I'll guidance for guidance XXXX. full good for everyone. results provide the and Thank discussing quarter afternoon for updated

QX in partially revenue quarter, were to pricing million, range carrier demand decline $XXX.X from as reductions industry-wide auto a our X% of consumer exceeded non-carrier customers our total of in our monetization. for insurance guidance from offset and within Our and related direct auto growth monetization in volume year-over-year The provided in carrier insurance, the demand affected pullback customers advertising, vertical. is reductions last that

year-over-year our As at anticipated, X% million. vertical insurance $X.X to auto decreased

the of record non-auto defined our from million and benefited million above costs last year-over-year revenue quote overall insurance traffic and agency and now represented requests share landscape reflects and in costs auto VMM a also other Health our a Apart in growth from are continue applying increase the VMM, per insurance or contribution slightly pricing, While XX% other XX% percentage with industry's position at DTCA, marketing grew analytical customers, overcome. year-over-year second our dollars as We've XX% Within evident advertising growing absolute vertical. were second consumers our more verticals challenges quarter. notable $XX.X direct-to-consumer carrier increased quote and year-over-year, a challenges for distribution from insurance insurance of These second when year-over-year guidance time reduction our aggressively auctions auto a all revenue as insurance from renters up generating due success with in This quarter. year-over-year Insurance in slightly a consumer over advertising less to home significant and benefited the includes our competitively from channels contribution expense range request which as region consumer acquisition and carrier shopping from the insurance to by of direct and quarter provided in quarter, Variable operational potential volume. show year-over-year, party Life to consumer $XX.X resilience our revenue our we near the revenue, revenue of the levels this were marketplace for our well favorable to was quarter. year-over-year lower distribution, revenue. and DTCA. to revenue by agents grew and from and carrier higher to within advantage which contributing XXX% health XX% third including margin million. Revenue and verticals, insurance for driving market XX% $XX.X local

own margin and and upside the Although a we advertising uncover rapidly had in traffic adjustments to rapid fully opportunities anticipated pricing changing in environment. our monetization, our performance to recalibrate our by acquisition efficiencies, in teams made our marketplace reflects reductions

to million last loss second Turning our range million, GAAP in was and EBITDA adjusted provided the guidance $X.X $X.X a net bottom-line, quarter. our was exceeding quarter, positive

balance adjusted $XX.X reduce performance ended VMM operating EBITDA quarter cash and for with the to cash continue look the expenses directly on to and tightly favorable into as We translated Our we of expenses. manage opportunities million. equivalents sheet

and DTCA. in million to primarily operating $X.X growth consumed we quarter, the the cash, fund During

auto DTCA. as our we grow facing expect cash was continue we to operations insurance careers, reduced vertical use from While demand in to

of our by credit $XX we maturity Just draw million quarter term after announced loan. ended, deferred the $XX expanding years and debt by line million, facility, the adding of a to extending $XX million three our renewal

sufficient believe to combined against liquidity. no have renewal, this drawn provide us balance funds and with cash this facility our facility continues We

included claims recent Turning remains conditions auto and insurance to within on recovery the forecasting on an be recent we are continued from carriers given the to the auto regarding has market some industry. pricing and This marketplace on a are are building a of footing, increases not pullbacks carriers defensive and believe believe continues bids as We outlook industry. seeing result, losses, volatility and We carrier pauses Jayme's in down insurance carriers. volatile. our in early inflation, cautiously within reporting signs comments

As marketplace continue business. environment our intently to to a result, current optimize manage we the to

and QX will the pressure revenue margin enter place of second the we pricing we year. as As has that anticipate on of it half since to auto last carrier continue year,

to on opportunities advantages. reaction to continue leverage focus to execution and our is Our

channels and health growth third-party We distribution less from carrier affected such pricing, auto our are by first-party and vertical. agents as driving insurance

are advertising allowed volumes consumer growing which of despite for us EBIT positive. efficiency to has consumer our managing And insurance difficult increasing and a we costs, remain by up operating share are adjusted in for We our shopping market.

focus greater as on second similar that and the expect more We year bottom-line insurance becomes and stretch half are results efficiency a auto apparent XXXX. manner an recovery manages the in will of into placing it

for to QX. Turning guidance

of We revenue and to a decrease midpoint. be expect million million between XX%. the At $XX $XX year-over-year

the quarter vertical. of We reflects between be expect expect million, to $X be depressed negative adjusted VMM XX% pricing carrier And guidance million negative million between decrease to in continuing midpoint. at million. the $X insurance year-over-year and to This impact and $XX largest EBITDA we a auto $XX our

year, our for narrowing performance margins. we expected full and of our in as revenue a guidance the EBITDA our For and improving stronger guidance VMM our than result adjusted are qX

manage at a We X% of the we expect by $X summary, $XXX cycle. At the we between $XXX second million negative and from than diversification, In of quarter and XXX expect million we between for $X reflecting be our from pressure midpoint, amount economics guidance X%. and adjusted our our decreased the the midpoint resilience. and a revenue areas insurance dynamically marketplace decrease year-over-year delivered expect the continued negative EBITDA to better ability of of current and year-over-year the growth capture million. to results auto despite of

their insurance execute continue to a begin and when I well We normalize difficult Jayme positioned are well the focus, market of poised capitalize will spending. acquisition now to questions. in carriers for your and auto are areas answer and strategic time on to the

Operator

[Operator is Oppenheimer. session. from question-and-answer the first the begin lineup, Instructions] now The with Jed Kelly question will We

you proceed Oppenheimer, proceed. may may You

Jed Kelly

Great. question. Thanks if I my for may. taking Two,

profitable can resetting business You're on business Just can challenge. driving resetting a sense back of where saying I their a as the then us in to are, being? in start you're Because back and half, half, the I the are imagine make about mean, and profitable. difficult Till you. more share just some given how rates it facing for managing be terms guidance how other where I sort go? rates gains? of till competitors of the you the Thank might can recovery conservative and give your talk And number for you're managing they sense. XXXX can the not carriers like two, comes of guess I guess, sort start?, But they you

Jayme Mendal

Jed. Thanks

with our through period. direct we assets side as local scale which period, diversification growth to glean as grow of the data EverQuote, So, to continues attribute to gains, some this I as to at our traffic be well agent this that our business landscape to network, share network, that kind share unique the know, we which others And of taking of we're the certain obviously, relative believe we information are agency. that periods. of our demonstrate look distribution more in of in of have respect recent and well. will consumer the think is the we look We at do during resilience from And insurance growth our

And earning over certainly come growth of back, managed peers, you landscape so, look to first we results, our relative continue terms this in the of of of through But our part looks to we've post as year? our season. sort outsized entirety of see like what we'll if the to

John Wagner

take I'll as the dollars just on quarter I'll -- in VMM, had also here, to that John out our absolute revenue. and I'll was the that this in increase we of gains. percentage traffic, it's in add -- Jed, an a on strength share point

are as adding is very that can, fast that management to So, VNM. long traffic incrementally we is consistent to our beneficial as is, is as philosophy, that we as with grow which

wholesome, So that's increase volumes quarter. very quote it a to kind And in, is this we share that decided of with request why metric you.

always is in insight guidance guidance back the is. give plan on some how to guide the confidence we what and share is of our has has in of strive to year -- as we terms a you that changed, The of it is not methodology we idea and business the what that gives of guidance, conservative think the that half an and In see question the you that so it high down auto in year. not is changed. of to the in that in terms the second year. included we What idea as have of a that end a that that's the terms stay through what carrier we slight that's flat expect And slight this insurance, pricing, there in how of we the revision half factor seeing the a outlook in. our We're improvement was that previously of kind and that's of

then, factored in that's And that's we say but there, the quarter see And favorable so the in truly did reaction what what a you of was past believe. versus actuals, terms VMM this upside I'd EBITDA. more on flow a and of how promise from actually our traffic could terms in favorable benefit the landscape advertising we and also provide some side, guidance adjusted to and and down that

that landscape. unique. acquisition seeing industry-wide play But we is included applied of not all partners will how pricing that auto confidence that we're This high say, insurance. in have on for like that's the out what pressure is an we know something because not to the is So, just to within don't phenomenon guidance, the the

Jed Kelly

you. Thank

Jayme Mendal

Thanks Jed.

Operator

Thank you. question Tandon line the Needham. The from of with is next Mayank

You may proceed.

Kyle Peterson

good guys. Thanks afternoon, taking on for is Hey, Kyle This actually for my Peterson questions. Mayank.

been due of and and request there's potential and touch quote coming of just advertising demand, the engagement, Just such. down? some potential to here interest and talk efficiency costs know lot on traffic perspective, improvement much consumer ad some on wanted to improvement a gain recession the how and from I both of stronger of versus was

could if the to So, just best wanted two guys can? those tease out you factors see you to

Jayme Mendal

Sure.

things. combination of a it's think I

in cycle, and when are shopping upward -- premiums you're the their rates renewal an renewal shopping will in people behavior, increasing get induce rate up, the induce know, We you notices will renewal, typically, that behavior. go the

channels, us you direct-to-consumer stability into strength a and question, taking -- more so to is local tide will shopping going Jed's our the our monetization, by from agent of answer within of, behavior. there compete enabled continued in us that back growing distribution effectively driven see to I agency the our landscape kind rising have some network, unique more think my consumer And shopping of overall sort I to of benefiting and of as think consumer and share relative volume? But our is

Kyle Peterson

diversify growing the that's Okay, guess, nicely just on that the quicker, but pretty then business, the kind potential competitive to see follow-up, see helpful. channel, growth, And specifically budget. to with the of good obviously, pipeline I piece a helping a great inorganically that opportunities potentially diversify auto business. potential to of seeing M&A you quick scaling DTC this the and grow the out of, in Are it's and guys still it's any

potential are progressing or with -- be any targets helpful? So, would color, opportunities or toxin just how partners

Jayme Mendal

that two we health in years the brokerage, We a the insurance acquisitions made consumers those and which and of Crosspointe, into serves really Medicare, better direct-to-consumer year now is PolicyFuel. or So, our across the personal and integrating spent P&C part platform, major brokerage, two acquisitions health into together last operations, in which then agency last of and all the so, lines unified insurance. the

market keeping of high not just say active, on the to is and view eye we for grow near-term, list we the a that our way looking building I'll know, the to that the on our but you accelerate foundational that's organically, though we're the would that's not near-term. within are that blocks do the So, in our to opportunities like we an DTCA, so -- have always over strategy, priorities

Kyle Peterson

Thanks Understood. guys.

Jayme Mendal

Thanks Kyle.

John Wagner

Thanks Kyle.

Operator

Graham Michael with from next Thank the question Canaccord. of you. mind The comes

may You proceed.

Michael Graham

of the that they limit to of XXXX. and I'm to you pushing just could about the revenue think that wondering, happens? your might the wanted more in anything to rebound there DTCA big how was would Thank mix? then anything kind Have of, aggressive? congrats on it relative it you. patterns the get does might see until if sort any like out seasonal about of kind the revenue happen ask there year, assuming influence is And seasonality verbalized Hey, just to when natural And what quarter, of carrier is of, you influence recovery next to need kind XX% It this growth. partners, get -- I see -- a historical spend guys

Jayme Mendal

early target Meaning coming would who recent data, we are but carrier a was uncertain coming major of their on year to mitigating I'll sure bit indicated right? Mike. do ebbing if kind question of at -- and of what they you look look combined environment, that levels. flowing, see has with bunch combined they're open to start changed large at one. publicly there The is most against the budget I'll coming start the make overall carrier seeing are the sort to as at cadences. of, they continue take up, take as a happened, moment that your continue below offering to is than growth. a -- that more in line, back But before end number there's has result, carriers what growth around way to risk one now ratios intent frequently, contraction environment their inflationary just And fixed soon through seeing if really balance. QX, and ratios loss you are we the -- for those or that combined to inflationary their they to of carriers different manage down, lean varying sort And understand carriers hearing more second the carriers the profitability a the back see as first. a of in are in this a ratios report that and kind uncertainty I'll data, a look as go-forward of, reporting expectation And backdrop. we're causing down, increasing expansion at spigot

to beyond leading know vehicle used that of seasonally repairs something I beyond directly. carrier a kind our expectations the look take at together and some for carrier our that, like the and watch would to Those come think parts are QX for for things what's QX. to quarter you're telling inflation of indicators, you right be motor now for we to some best you'd you probably that. things equipment, give look carrier, leading but So, of vehicles, looking with the and for some things indication performance, than us new that price if wages stronger want like, automotive you'd what of, indicators the like tends for are indices obviously, we that carriers the data, Seasonally, cars,

in Does see quarter is that so auto that a strength QX And QX, answer than expect to weakest the bit in you'd more which question? insurance. seasonally for

Michael Graham

to you. It is appreciate Jayme. mix can that DTCA, does. quick the any And of Yes, one big was other there thank just like, how revenue? I the limit that, your natural in get

Jayme Mendal

is take no that my could worth of also very growth. terms in the pleased We're business It with assets, unit goal, improved down I'll big making economics. for on that we're I'll say how that sure of notation noting we're in So, get. [ph] managing I terms

this improved growing economics. but are -- so with theme profitably again, want we sure make doing that we to of business, So, -- scaling

business we're gov growth I'd to to, looking that it. we the DTCA as the return that's on So get the of the bigger making we say scale is sure that

Michael Graham

Thank John. Okay, Jayme. make you, Thanks sense.

Jayme Mendal

Mike. Thanks

Operator

Blair. you. of The from Schackart line Thank next William Ralph with question comes the

proceed. may You

Ralph Schackart

the Thanks taking evening. for Good question.

acquisition question and given Just modifying recalibrating the you -- call, on strategy. your talked first to the talked volatility teams. release, he the bidding relates about the about

that today of And improves? that stronger how make short-term versus, follow macroenvironment curious Just environment when that in current the the you're then I is things to platform will a the respond nature much doing to up.

Jayme Mendal

out more how consumers. changes elements of are changes structural with making of respect responding it, to which as acquire we that short-term are are changes that in we question. that that Good real-time There Ralph. sure thanks Yes, are just are through. there also rolling elements flow we're But

would modeling lot these we're that's that science, a customers data behavior. -- in of acquisitions and pulling more we predictions. we're work shopping inform to bid things predict a about landscape, the for using of lot doing to how in into We're And data there's consumers meant and So, them the we in us those year. how distribute distribution taken as in it'll landscape. of build significant the are continued they've progress say a focus I step quarter, customers on through last we momentum, back of to the half models the And And be improving. area for a that -- forward, more

John Wagner

I'll fueled the And been just monetization, up, been business, are there Ralph add our when growth probably times volume. fueled certain growth times been the there's it's when by by has when

on If in which you volume, we've taken to periods that tend hold we look at volume. to those

So, monetization period almost this, growing comes spring. like look, back, on a we're where it's up volume, like we generally business loading through the if those you hold that advertising When in a positions. to

an so normalize things to the auto now, gives opportunity think, as start industry. us why that's volume the idea And we taking in of insurance --

Ralph Schackart

here. you, for the John question and follow-up

in minus for $X Just guide, you've half for calls I EBITDA $X about the year or EBITDA year-to-date outlooks the about full done of terms at -- and midpoint about million. roughly about the a first million think so I think,

want or color pricing little kind there bit sort that? Just on curious, are the sort get more environment of projects model? through deferred Thanks. flowing a that Just any of to of

John Wagner

kind differed or of type any of Yes, projects demand pricing so not investments. any that's really through, and much new flowing

a now think investments are sure but kind that this we to for year, to from to to the we our full sure had that we've sure the -- of that that our we're the in making of, making we for we're market We making since theme positive year, we that. I we a and But business, think that the looking manage step seeing, the certainly investments we're into putting making are bottom-line. maintain EBITDA calibrating and on that managed QX resources bottom-line, focus came I we still away had

very projects. new us see frugally applying new resources to you'd So,

just mostly pricing flowing that's the model. So, through

Ralph Schackart

John. Okay, thanks, Thanks, Jayme.

Jayme Mendal

Thanks Ralph.

Operator

next the of JPMorgan. you. is Carpenter Cory The question Thank from with line

You may proceed.

Cory Carpenter

question. the Thanks for

It guys call car a Just different you wanted would overtime? lower impacts how in ways, the environment? to some to higher of quote you recessionary that requests. slowing ad ask on insurance in curious perform and competition you. with if current could outside and Thank EverQuote just But benefiting how expect the like you may market, sounds talk you're to economy impact

Jayme Mendal

the of think five business line being Yes, we that to items. at The auto is typically relatively specifically would down top five relatively spend countercyclical perform to reason well to line in insurance statement. it Three or least, -- a as three and personal tends the non-discretionary of for economy. insurance item people's income

amplified. at the in, be is the so expect they one save you'd with effect consumers volume you think begin I combine to as personal and point shopping most cycle this savings, to conditioned as rates been that increasing need shop look for same then And insurance carriers which at a insurance. to are we're insurance see that in And to and feel have in pressure. people that result, you'd continued which And time, of as kind of more continually growth some

about meaning the carriers, the particularly predominant The driving as is repair in this factor for the what's think the vehicles. time other issues moment and at we replace consideration, cost accident profitability severity, to

driver the And some of softens, -- on economy so people subside. demand Meaning as car drivers loosen used rates up Fuel the go may of expect weaker market as are, impact prices associated with which for frequency that miles stay they downward the a accident way off driven the down. the economy somewhat is right, goes vehicles have demand down. pull expensive, up, interest you'd payments to that comes more become -- as back that up the car see could

and a economy contributors soft how actually that industry have economy for like impact auto and coming there's a months. the on things both, and those drivers number the materialize in but EverQuote's So, insurance business the of that we'll see the the that look things favorable quarters over over next

Cory Carpenter

you. Great. Thank

Operator

Thank you.

will Raymond Kessler Aaron question last James. come line the of at Our from

You may proceed.

Alex Bolton

of point Alex for is this on just guys, on a clarity guidance. Aaron Bolton Hey, Maybe being and Kessler.

favorable carrier is guidance? be just You're advertising not and environment? not asking remained guess if I to the pressure I'm favorable environment expecting the favorable within that could guidance outweigh to advertising it

John Wagner

compared at so when and as what seeing, QX, look into QX alluded seen think are carrier pullbacks some I certainly, July. QX in was to we if Jayme the you pricing you of even we've not low guidance as is and factored getting and Yes, say lower, as in in terms what there, to

advantage similar What calibrate and overall pull to expectations maybe saw coming to in So, as we're were own of scenario take terms we a look is in, able adjust outperform the we advertising we QX. we some some down, QX was not in backs and of for of reflecting outlook. that environment in in our factored our when margins. saw That at order and

what be now. our that we a we So, on now, again, at to are we're as right that's can that those looking could margin. we in we're setting confident And through, where at advertising environment look and see QX, at we the the we we'll when how looking get guiding that of we're source benefit changes of upside But -- guidance, some that ripple we're have deliver. additional guidance terms if side,

and is traffic opportunities reduction advertising recalibrating modernization, the the priced is So, side not. necessarily on in,

Alex Bolton

investments on be headwind investments Okay, any And touch all? for great. hiring the at and you're period and to maybe XQ? a And enrollment environment could then annual for planning XQ that

John Wagner

of are investments the head into DTCA in would certainly we hiring at when near future, Alex. we're in this looking we think thinking period [ph] look expect AAT the So, we we year. There, QX about as I as you you're time at --

DTCA. and are the as we we our to the temper unit able growth had space this that again, were are really of, very expectation we're some which improving plan DTCA into on I year AAT, and within a second for model. This able saw, exciting, it's last focused This go as little economics other up think plans is QX. QX so in kind and we investments more players of the full though, will economics we prove year, through of into kind governed to our our of by that our the were

Alex Bolton

answers. the Appreciate great. Okay,

John Wagner

Alex. Thanks

Operator

are at any team I this There additional remarks. closing questions back to no pass management for will the you. time. Thank it

Jayme Mendal

for us continue heightened benefit today. our distribution challenging our strategy well Well, manage diversify thanks carriers, insurance to the for of from the channels to It's we're we levels but volatility. business a and auto joining everyone period amid continuing to

we is as time. recovers, ahead we very and be here defining company. adjusted strong EverQuote as growth your to return EBITDA Thank to that demand expanding all industry as So, expect to an carrier you auto look for remain on revenue building laser-focused we to going well-positioned

Operator

That concludes Thank today's conference call. you.

your disconnect now may You line.

EverQuote (EVER) 2 Aug 222022 Q2 Earnings call transcript