EverQuote, Inc. (NASDAQ:EVER) Q3 2023 Earnings Call Transcript

Jayme Mendal: Yeah. Sure. So we — like I said earlier, we feel very good about the market position. We have got strong close relationships that through which we are working on growth plans for next year. I would say, there’s a number of carriers where we have exclusive opportunities to partner with them on key growth initiatives for next year. And so as a result of these things, I would expect we will continue to maintain share into next year. I would say if there’s one area where we look at it and we may see some headwinds, as we have mentioned previously, it’s in that agent channel, where we know that agent demand has contracted a bit recently as some of the carriers have pulled subsidy support. And so as a result, the distribution profile that we have, which is more agent dominant, may create some share headwinds for next year.

But like has happened with all the direct carriers, it’s just a matter of them working through repricing and we would expect to see that kind of work out over the next year as well.

Ralph Schackart: Great. Thank you.

Jayme Mendal: Thanks, Ralph.

Operator: There are no further questions at this time. I will now turn the call back to management for any closing remarks.

Jayme Mendal: Thank you. Well, thanks all for joining us today. We continue to build confidence that auto insurance carriers are making strides towards healthier underwriting and that as they do, more marketing spend will return to our marketplace. As it does, we will benefit from our streamlined cost structure, our strengthened balance sheet and our team’s proven resilience and adaptability, and these things position us extremely well for a strong run ahead as the market recovers, and we resume the secular shift of insurance online. As we continue to advance our mission to become the largest online source of insurance policies, we remain very excited about the future and we appreciate the continued support in pursuit of that mission. Thanks all for the time today.

Operator: This concludes today’s conference call. You may now disconnect.