2018 Form 10-K Financial Statement

#000119312519094588 Filed on April 01, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017 Q3
Revenue $163.3M $32.38M $32.10M
YoY Change 29.39%
Cost Of Revenue $11.68M $2.236M $1.889M
YoY Change 50.78%
Gross Profit $151.7M $30.14M $30.21M
YoY Change 28.0%
Gross Profit Margin 92.85% 93.09% 94.11%
Selling, General & Admin $151.4M $28.20M $28.79M
YoY Change 32.83%
% of Gross Profit 99.83% 93.56% 95.29%
Research & Development $14.17M $2.500M $2.441M
YoY Change 54.15%
% of Gross Profit 9.34% 8.29% 8.08%
Depreciation & Amortization $1.340M $310.0K $320.0K
YoY Change -1.47%
% of Gross Profit 0.88% 1.03% 1.06%
Operating Expenses $165.6M $30.70M $31.23M
YoY Change 34.42%
Operating Profit -$13.91M -$539.0K -$1.019M
YoY Change 196.69%
Interest Expense $199.0K -$100.0K $116.0K
YoY Change -47.91%
% of Operating Profit
Other Income/Expense, Net $121.0K -$116.0K
YoY Change -131.68%
Pretax Income -$13.80M -$700.0K -$1.135M
YoY Change 170.59%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$13.79M -$653.0K -$1.135M
YoY Change 171.96%
Net Earnings / Revenue -8.44% -2.02% -3.54%
Basic Earnings Per Share
Diluted Earnings Per Share -$816.6K -$28.23K -$44.35K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.60M
YoY Change 1633.33%
Cash & Equivalents $41.60M $2.363M $2.125M
Short-Term Investments
Other Short-Term Assets $1.500M
YoY Change 150.0%
Inventory
Prepaid Expenses
Receivables $17.50M $14.69M
Other Receivables $0.00
Total Short-Term Assets $60.60M $17.65M
YoY Change 242.37%
LONG-TERM ASSETS
Property, Plant & Equipment $4.500M $2.129M
YoY Change 114.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $700.0K $740.0K
YoY Change 0.0%
Total Long-Term Assets $5.100M $2.869M
YoY Change 82.14%
TOTAL ASSETS
Total Short-Term Assets $60.60M $17.65M
Total Long-Term Assets $5.100M $2.869M
Total Assets $65.70M $20.52M
YoY Change 220.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.80M $11.89M
YoY Change 41.18%
Accrued Expenses $2.300M
YoY Change 76.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $0.00 $361.0K
YoY Change -100.0%
Total Short-Term Liabilities $21.40M $15.02M
YoY Change 42.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $4.250M
YoY Change -100.0%
Other Long-Term Liabilities $1.200M
YoY Change 33.33%
Total Long-Term Liabilities $1.200M $4.250M
YoY Change -76.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.40M $15.02M
Total Long-Term Liabilities $1.200M $4.250M
Total Liabilities $22.60M $20.13M
YoY Change 12.44%
SHAREHOLDERS EQUITY
Retained Earnings -$51.32M
YoY Change
Common Stock $766.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.20M -$50.54M
YoY Change
Total Liabilities & Shareholders Equity $65.70M $20.52M
YoY Change 220.49%

Cashflow Statement

Concept 2018 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$13.79M -$653.0K -$1.135M
YoY Change 171.96%
Depreciation, Depletion And Amortization $1.340M $310.0K $320.0K
YoY Change -1.47%
Cash From Operating Activities -$1.897M $2.800M -$2.070M
YoY Change 13.46%
INVESTING ACTIVITIES
Capital Expenditures -$3.670M -$190.0K -$350.0K
YoY Change 208.4%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.668M -$190.0K -$350.0K
YoY Change 209.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.84M -2.370M 3.290M
YoY Change -724.46%
NET CHANGE
Cash From Operating Activities -1.897M 2.800M -2.070M
Cash From Investing Activities -3.668M -190.0K -350.0K
Cash From Financing Activities 44.84M -2.370M 3.290M
Net Change In Cash 39.27M 240.0K 870.0K
YoY Change -491.26%
FREE CASH FLOW
Cash From Operating Activities -$1.897M $2.800M -$2.070M
Capital Expenditures -$3.670M -$190.0K -$350.0K
Free Cash Flow $1.773M $2.990M -$1.720M
YoY Change -467.84%

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CY2018 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> <b><i>Concentrations of Credit Risk and of Significant Customers</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents at two accredited financial institutions. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> The Company sells its consumer referrals to insurance provider customers, consisting of carriers and agents, and indirect distributors in the United States. For the year ended December&#xA0;31, 2018, two customers represented 19% and 10% of total revenue. For the year ended December&#xA0;31, 2017, one customer represented 20% of total revenue. As of December&#xA0;31, 2018, two customers accounted for 12% and 11% of the accounts receivable balance. As of December&#xA0;31, 2017, three customers accounted for 22%, 12% and 11% of the accounts receivable balance.</p> </div>
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
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CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 dei Document Type
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10-K
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EverQuote, Inc.
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EntityFilerCategory
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EVER
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> 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 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 estimate are recorded in periods in which they become known. Actual results may differ from those estimates or assumptions.</p> </div>
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IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.28
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6925000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
-6925000
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-7114000
CY2018Q4 us-gaap Revenues
Revenues
39779000

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