Why EverQuote Shares Are Diving

EverQuote Inc EVER shares are trading lower by 20.65% to $13.91 Tuesday morning after the company mixed fourth-quarter financial results. The company also filed for a mixed shelf of up to $150 million.

What Happened?

EverQuote reported quarterly losses of 26 cents per share which beat the analyst consensus estimate of a loss of 27 cents. The company also reported quarterly sales of $88.31 million which missed the analyst consensus estimate of $90.24 million by 2.1%. This sales figure is a 13.5% decrease over sales of $102.07 million in the same period last year.

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Meanwhile, for the full year 2022 relative to the full year 2021:

• Total revenue of $404.1 million, a decrease of 3%.
• Automotive insurance vertical revenue of $324.4 million, a decrease of 2%.
• Revenue from other insurance verticals, which includes home and renters, life, and health insurance, decreased 9% to $79.7 million.

According to data from Benzinga Pro, EverQuote has a 52-week high of $18.86 and a 52-week low of $5.23.