EverQuote, Inc.

your telephone keypad and if you'd like to withdraw that question again press star 1. thank you i will now turn the conference over to brinley johnson from the blue shirt group please go ahead thank you good afternoon and welcome to everquote's second quarter 2024 earnings call we'll be discussing the results announced in our press release issued today after the market closed

With me on the call this afternoon is Jamie Mendel, EverQuote's Chief Executive Officer, and Joseph Sanborn, Chief Financial Officer of EverQuote. During the call, we will make statements related to our business that may be considered forelooking statements under federal securities laws, including statements concerning our financial guidance for the third quarter of 2024. Forelooking statements may be identified with words and phrases such as we expect, we believe, we intend, we anticipate, We plan May upcoming in similar words and phrases. These statements reflect our views only as of today and should not be considered views as of any subsequent date. We specifically disclaim any obligation to update or revise these forward-looking statements except as required by law. Forward-looking statements are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from our expectations. For discussion of those risks and uncertainties, please refer to our SEC filings, including our annual report on Form 10-K and our quarterly reports on Form 10-Q, on file with the Securities and Exchange Commission and available on the Investor Relations section of our website. Finally, during the course of today's call, we referred to certain non-GAAP financial measures which we believe are helpful to investors. The reconciliation of GAAP to non-GAAP measures was included in the press release we issued after the close of market today which is available on the investor relations section of our website. And with that, I'll turn it over to Jamie.

Thank you, Brindley, and thank you all for joining us today. EverQuo continued to build momentum in the second quarter. Operating results once again exceeded the high end of our guidance range for revenue, VMM, and adjusted EBITDA. And we achieved new record levels across all three of these financial metrics, along with record EBITDA and net income. In April, I shared our perspective that after years-long volatility in the auto insurance market, we believed that a sustainable auto recovery was in fact underway. This view further solidified as we progressed through the second quarter. Auto carrier underwriting profitability remained healthy, and carriers continued to reactivate campaigns, restore budgets, and reopen their state footprints in our marketplace. As the auto carrier recovery unfolds, our team continues to execute very well. In the second quarter, not only have we worked closely with carriers to help them step back into the marketplace effectively, but we have also grown demand from local agents who are a core and differentiated component of our distribution. Our customer acquisition teams continue to optimize effectively into a dynamic demand environment, and our home vertical grew to new record high levels of revenue and VMM. Turning to the back part of the year, we will continue to support carriers and agents as they restore greater focus on growth. We will do so by providing them the guidance, data, and tools they need to effectively scale spend in our marketplace and by expanding our customer acquisition and channels that will benefit from growing provider demand and monetization. Also, We have been actively preparing to comply with a regulatory change imposed by a new FCC rule related to consent collected under the TCPA, or the Telephonic Consumer Protection Act, which goes into effect in January of 2025. This rule will affect website consent collection requirements and distribution channels that rely on telephonic outreach, most notably our agent channel. We are working closely with carriers and others to comply with the new rule while continuing to support our customers' need for growth. We believe the change presents an opportunity for EverQuote to improve traffic quality for our customers, accelerate execution of our strategy, and extend our market leadership position as our scale enables us to process regulatory change more effectively than others. Lastly, we are maintaining heightened discipline in our expense management and making significant progress in simplifying and streamlining our tech platforms to enable more efficient and effective execution. As we begin to shift back to a more investment-oriented mindset, we will ensure that top-line progress continues to contribute to growing operating leverage. In closing, I'd like to thank the EverQuo team for another strong performance in Q2. I'll now turn the call over to Joseph to discuss our financial results.