$EVER
EverQuote Inc

2018 Q2 Form 10-Q Financial Statement

#000119312518246112 Filed on August 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $41.09M $30.02M
YoY Change 36.9%
Cost Of Revenue $2.873M $1.884M
YoY Change 52.49%
Gross Profit $38.22M $28.13M
YoY Change 35.85%
Gross Profit Margin 93.01% 93.72%
Selling, General & Admin $36.67M $27.61M
YoY Change 32.78%
% of Gross Profit 95.93% 98.15%
Research & Development $3.181M $2.100M
YoY Change 51.48%
% of Gross Profit 8.32% 7.46%
Depreciation & Amortization $320.0K $330.0K
YoY Change -3.03%
% of Gross Profit 0.84% 1.17%
Operating Expenses $39.85M $29.71M
YoY Change 34.1%
Operating Profit -$1.627M -$1.580M
YoY Change 2.97%
Interest Expense $103.0K $85.00K
YoY Change 21.18%
% of Operating Profit
Other Income/Expense, Net -$103.0K
YoY Change
Pretax Income -$1.700M -$1.700M
YoY Change 0.0%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.730M -$1.665M
YoY Change 3.9%
Net Earnings / Revenue -4.21% -5.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$68.55K -$68.55K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.400M
YoY Change
Cash & Equivalents $2.632M $1.260M
Short-Term Investments
Other Short-Term Assets $2.000M
YoY Change
Inventory
Prepaid Expenses
Receivables $17.72M
Other Receivables $0.00
Total Short-Term Assets $22.07M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $3.028M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $728.0K
YoY Change
Total Long-Term Assets $7.468M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $22.07M
Total Long-Term Assets $7.468M
Total Assets $29.54M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.99M
YoY Change
Accrued Expenses $2.300M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $22.17M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $6.983M
YoY Change
Other Long-Term Liabilities $1.200M
YoY Change
Total Long-Term Liabilities $6.983M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $22.17M
Total Long-Term Liabilities $6.983M
Total Liabilities $30.34M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$89.16M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$89.15M
YoY Change
Total Liabilities & Shareholders Equity $29.54M
YoY Change

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$1.730M -$1.665M
YoY Change 3.9%
Depreciation, Depletion And Amortization $320.0K $330.0K
YoY Change -3.03%
Cash From Operating Activities -$160.0K -$1.850M
YoY Change -91.35%
INVESTING ACTIVITIES
Capital Expenditures -$750.0K -$260.0K
YoY Change 188.46%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$750.0K -$260.0K
YoY Change 188.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 700.0K 1.120M
YoY Change -37.5%
NET CHANGE
Cash From Operating Activities -160.0K -1.850M
Cash From Investing Activities -750.0K -260.0K
Cash From Financing Activities 700.0K 1.120M
Net Change In Cash -210.0K -990.0K
YoY Change -78.79%
FREE CASH FLOW
Cash From Operating Activities -$160.0K -$1.850M
Capital Expenditures -$750.0K -$260.0K
Free Cash Flow $590.0K -$1.590M
YoY Change -137.11%

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EverQuote, Inc.
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt; TEXT-INDENT: 4%"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, revenue recognition, the expensing and capitalization of website and software development costs, the valuation of common and preferred stock, and the valuation of stock-based awards and income taxes. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Changes in estimates are recorded in periods in which they become known. Actual results may differ from those estimates or assumptions.</p> </div>
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DeferredRentAdjustment
-325000
ever Deferred Offering Costs Incurred During Noncash Or Partial Noncash Transaction
DeferredOfferingCostsIncurredDuringNoncashOrPartialNoncashTransaction
3190000
ever Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
0
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
468000
CY2017Q2 us-gaap Advertising Expense
AdvertisingExpense
21400000
CY2017Q2 us-gaap Cost Of Revenue
CostOfRevenue
1884000
CY2017Q2 us-gaap Costs And Expenses
CostsAndExpenses
31597000
CY2017Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.31
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1259000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017Q2 us-gaap Interest Expense
InterestExpense
85000
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2660000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-1665000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1580000
CY2017Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
400000
CY2017Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2800000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2100000
CY2017Q2 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
2300000
CY2018Q2 us-gaap Cost Of Revenue
CostOfRevenue
2873000
CY2018Q2 us-gaap Costs And Expenses
CostsAndExpenses
42719000
CY2018Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.10
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1733000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018Q2 us-gaap Interest Expense
InterestExpense
103000
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-28132000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-1730000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1627000
CY2018Q2 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
100000
CY2018Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
500000
CY2018Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2400000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3181000
CY2018Q2 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
2100000
CY2018Q2 us-gaap Revenues
Revenues
41092000
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
34932000
CY2018Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
26402000
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9084880 shares

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