EverQuote, Inc.

Thank you for standing by. My name is Kayla and I will be your conference operator today. At this time, I would like to welcome everyone to the EverQuote Q3 2024 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press star and one. I would now like to turn the call over to Brinley Johnson of the Blue Shirt Group. You may begin.

Thank you. Good afternoon, and welcome to EverQuote's third 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 Janie 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 forward-looking statements under the federal securities laws, including statements concerning our financial guidance for the fourth quarter of 2024. Forward-looking statements may be identified with words and phrases such as we expect, we believe, we intend, we anticipate, we plan, may, upcoming, and similar words and phrases. These statements are viewed only as of today and should not be considered 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 Stages Commission and available on the Investor Relations section of our website. When it occurs at today's call, we refer to certain non-GAAP financial measures, which we believe are helpful to investors. A reconciliation of GAAP to non-GAAP measures is included in the press release we issued after the close of the 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, Brinley, and thank you all for joining us today. EverQuote had a very strong third quarter. Operating results once again exceeded the high end of our guidance range for revenue, VMM, and adjusted EBITDA, and we once again achieved record levels across all three of these financial metrics, along with record net income. Our continued focus on the P&C market is paying off as we benefit from industry recovery and strong execution. As auto carrier underwriting profitability remained healthy, carriers have continued to reactivate campaigns, restore budgets, and reopen state footprints in our marketplace. Our team has partnered deeply with carriers to find creative ways to support their reentry into the marketplace, helping accelerate progress for several important carriers. At the same time, we continue to grow our local agent distribution channel. With double digit growth in this channel, it is approaching record high revenue levels. Into this strengthening carrier and agent demand, our customer acquisition teams continue to optimize effectively, and we continue to benefit from our AI powered bidding solutions. Additionally, We grew our home insurance vertical 30% year over year. As our results show, our team is executing very well in this new environment. Progress in our technology evolution continues as well, as we advance toward more modernized and simplified platforms across all facets of the business. In Q3, we finished the transition to our new site platforms and completed a major release of our new agent platform. These advances have already impacted development speed and will significantly accelerate our ability to roll out new features moving forward. In Q4, we are focused on maintaining operational momentum, planning for 2025, and starting to manage through our transition to one-to-one consent. As we noted in last quarter's call, we have been preparing to comply with a new FCC rule related to consent collected under the TCPA, the Telephone Consumer Protection Act. We are in the process of implementing the appropriate measures and expect to complete the process by the time it goes into effect in January 2025. In closing, I'd like to thank the EverQuote team for an exceptionally strong performance in Q3. With auto insurance carriers and agents increasingly focused on restoring growth, we find ourselves well positioned. We have sharpened our focus on the P&C market, allowing us to go deeper in serving the needs of this segment. Our execution has been improving quarter after quarter. And with increasing the streamlined technology platforms, we expect our rate of progress in terms of our ability to support providers' growth needs to accelerate moving forward. An exciting time for the EverQuote business. I'll now turn the call over to Joseph to discuss our financial results.