EverQuote reported third-quarter 2026 earnings and revenue above Wall Street expectations, alongside continued growth in both auto and home insurance. Shares gained 7.46% in after-hours trading to $26.08 after closing the regular session at $24.27, up 3.23% on the day.

The insurance marketplace operator posted earnings of $0.49 per share, compared with analysts’ estimate of $0.47. Revenue rose 25% year over year to $218.1 million, exceeding the $203.23 million forecast. Adjusted EBITDA increased 41% to $35.5 million, while operating cash flow was $40.5 million.

Auto insurance remained the company’s largest business, generating $190.4 million in revenue, up 21% from a year earlier. Home insurance revenue grew 70% to $27.7 million. EverQuote said eight of its 10 largest carriers recorded sequential growth during the quarter.

Chief Executive Jayme Mendal said the company delivered record results across key financial measures and pointed to strong carrier demand. He also said EverQuote is using AI to improve productivity and develop products. The company’s engineering teams reduced cycle time by 36% quarter over quarter through the adoption of an agentic coding pipeline, according to Mendal.

EverQuote is also developing distribution channels based on AI. Mendal said the company had launched Luva, a separately branded insurance-shopping platform designed for AI-native consumers, and was working on integrations with large language model and agentic platforms. He noted that integrations are subject to platform review and approval.

For the fourth quarter, EverQuote forecast revenue of $213 million to $223 million, variable marketing dollars of $57 million to $60 million, and adjusted EBITDA of $29 million to $32 million. Management expects variable marketing margin to decline sequentially as the company invests in new channels and product development.

The board approved a new $50 million share repurchase authorization. Chief Financial Officer Joseph Sanborn said the company plans to balance buybacks with investment and maintaining a strong balance sheet. EverQuote reported $229.1 million in cash and equivalents and no debt.

Sources: Investing.com News.