EverQuote, Inc.

Hello everyone, thank you for joining us and welcome to the EverQuote 3rd Quarter 2026 Earnings Call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Sarah Vizuta, Vice President of Investor Relations. Please go ahead.

Thank you. Good afternoon and welcome to EverQuote's third quarter 2026 earnings call. We will be discussing the results announced in our press release issued today after market close. With me on the call this afternoon are Jayme Mendal, EverQuote's chief executive officer, and Joseph Sanborn, EverQuote's chief financial officer and chief administrative officer. During this call, we may make statements related to our business that may be considered forward-looking statements under federal securities laws. including statements considering our financial guidance for the fourth quarter of 2026. Forward-looking statements may be identified with words and phrases such as aim, expect, believe, intend, anticipate, plan, will, may, continue, upcoming, and similar words and phrases. These statements reflect our views only as of today and should not be considered our views as of any subsequent date. We specifically disclaim any obligation to update or revise these forward-looking statements except as required by law. Thank you very much. During the course of today's call, we refer to certain non-GAAP financial measures, which include adjusted EBITDA and adjusted EBITDA margin, variable marketing dollars and variable marketing margin, which we believe are helpful to investors. A reconciliation of GAAP to non-GAAP measures was included in the press release we issued after the market closed today, which is available on the investor relations section of our website. And with that, I'll now turn the call over to Jayme.

Thank you, Sarah, and thank you all for joining us today. We delivered exceptional performance in Q3. We generated record results across our key financial metrics, exceeding the high end of our guidance range. Our marketplace continues to fire on all cylinders as carriers maintain strong underwriting profitability and appetite for growth, and our team is executing well to meet this demand. In Q3, we continue to diversify our revenue across carriers, product offerings, and verticals, Punctuated by outstanding performance in our home vertical, which grew by 70% year over year. Our market position remains strong, and we are growing and deepening customer relationships with both carriers and agents. Furthermore, we believe we are making great progress as we begin to lead the PNC insurance industry into the AI era. First, we continue to use AI to drive productivity. In Q3, our engineering teams reduced cycle time by 36% quarter over quarter through adoption of our agentic coding pipeline. We have also achieved broad adoption of AI tools across non-engineering functions, allowing us to innovate and launch new products faster while growing adjusted EBITDA by over 40% year over year. Second, AI remains a reliable driver of our consistent marketplace growth. We have deployed smart campaigns to new carriers and to more local agents. This AI bidding solution drives benefits including higher conversion rates, which in turn allows us to access more budget so we can maximize highly targeted policy volume at customers' performance targets. We also rolled out new AI native features to local agents in the quarter, including a new AI-based reporting tool that surfaces insights to help them understand and optimize account activity. and perhaps most importantly, AI underpins our strategy to broaden our value to customers and expand our long-term addressable market. We are at the forefront, leading P&C insurance distribution into the AI era. In Q3, AI agents took center stage when Meta and OpenAI launched their personal agents. We have long anticipated personal agents as the next step in the evolution of insurance digital marketing and distribution, from web-native to LLM-native to agentic. For months in advance of the launches of Muse and DOS, we were in discussions with carriers about agentic commerce to help educate and prepare them for this next wave of change. In fact, during the quarter, we published a thought leadership white paper on agentic shopping and P&C insurance distribution. which has led to an active dialogue with major carriers as they themselves contemplate how to adapt. This topic has become a major focus area for our customers, and we are partnering with carriers to innovate solutions that help them navigate this fast-developing landscape. Last week, we launched Luba, a separately branded AI-native PNC insurance shopping platform for consumers that will be integrated with LLMs and AI Commerce agents. We believe EverQuote can emerge as a key player in the AI ecosystem by bridging the needs of consumers using LLMs and AI agents to research and shop insurance, with insurers' need to access these consumers while maintaining control over how their pricing, product, and brand are represented. We are rolling out apps across LLM and agentic platforms like Meta, OpenAI, and Anthropic. These integrations are subject to the platform's review and approval process, but will build on each solution over time in close partnership with carriers. It is clear that our carrier and agent customers will need help adapting as a genetic AI plays a larger role in P&C insurance distribution over time. We see tremendous opportunity in this dynamism. With our unique data, technology, and industry relationships developed over the last 15 years, We are ideally suited to help steward P&C insurance distribution into the AI era. Recent and forthcoming product launches position us to capitalize on this market evolution. In summary, it has been an exciting quarter at EverQuote and we are proud of maintaining our track record of sustained profitable growth while making investments in our future. As evidenced by our Q3 performance, the business is healthy and the team is executing well. We continue to make progress across our strategic priorities, and we are accelerating new product innovation to lead our industry into the agentic AI era. I will now turn the call over to Joseph, who will discuss our financial results and outlook.