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EVER on Nasdaq

EverQuote

Online insurance marketplace

EverQuote, Inc. is an online insurance marketplace founded in 2011 and based in Cambridge, Massachusetts.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$692.5MRevenue, fiscal 20254
$99.3MNet income, fiscal 20254
2011Founded1

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  • TickerEVER on Nasdaq1
  • IndustryServices-Computer Programming, Data Processing, Etc.1
  • HeadquartersCambridge, Massachusetts1
  • Websiteeverquote.com
  • Incorporated inDE5
  • Business address141 Portland Street, Cambridge, Ma 021395
  • Filer categoryAccelerated filer5
  • Legal formCorporation

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EverQuote, Inc. is an online insurance marketplace founded in 2011 and based in Cambridge, Massachusetts.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

8.4%Operating margin4
14.3%Net margin4
38.5%Revenue growth, 20254
41.7%Return on equity4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue3¢$19.4M
  • Research and development5¢$31.5M
  • Other costs73¢$504.8M
  • Income tax5¢$37.5M
  • Profit14¢$99.3M

Out of $692.5M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks22¢$21.0M
  • Kept or used elsewhere78¢$74.4M

Out of $95.4M of cash from operations.4

Financial statements

Revenue891011124$692.5M in 2025+324% since 2018
0$200.0M$400.0M$600.0M$800.0M2018: $163.3M$163.3M20182019: $248.8M$248.8M2019+52%2020: $346.9M$346.9M2020+39%2021: $418.5M$418.5M2021+21%2022: $404.1M$404.1M2022−3%2023: $287.9M$287.9M2023−29%2024: $500.2M$500.2M2024+74%2025: $692.5M$692.5M2025+38%
Operating income891011124$58.3M in 2025
-$100.0M-$50.0M0$50.0M$100.0M2018: -$13.9M-$13.9M20182019: -$8.0M-$8.0M2019−42%2020: -$11.7M-$11.7M2020+45%2021: -$21.9M-$21.9M2021+88%2022: -$24.8M-$24.8M2022+13%2023: -$52.0M-$52.0M2023+110%2024: $31.8M$31.8M20242025: $58.3M$58.3M2025+84%
Net income891011124$99.3M in 2025
-$100.0M-$50.0M0$50.0M$100.0M2018: -$13.8M-$13.8M20182019: -$7.1M-$7.1M2019−48%2020: -$11.2M-$11.2M2020+57%2021: -$19.4M-$19.4M2021+73%2022: -$24.4M-$24.4M2022+26%2023: -$51.3M-$51.3M2023+110%2024: $32.2M$32.2M20242025: $99.3M$99.3M2025+209%
Fiscal year20182019202020212022202320242025
Revenue$163.3M8$248.8M9$346.9M10$418.5M11$404.1M12$287.9M4$500.2M4$692.5M4
Cost of revenue$11.7M8$15.9M9$21.4M10$23.9M11$24.0M12$22.5M4$20.9M4$19.4M4
Research and development$14.2M8$20.2M9$29.7M10$35.7M11$31.7M12$27.6M4$29.6M4$31.5M4
Operating expenses$440.4M11$428.9M12$339.9M4$468.4M4$634.2M4
Operating income-$13.9M8-$8.0M9-$11.7M10-$21.9M11-$24.8M12-$52.0M4$31.8M4$58.3M4
Interest$199.0K16
Income before tax-$21.9M11-$24.4M12-$50.7M4$34.0M4$61.8M4
Income tax$08$017$017-$2.5M11$577.0K4$1.8M4-$37.5M4
Net income-$13.8M8-$7.1M9-$11.2M10-$19.4M11-$24.4M12-$51.3M4$32.2M4$99.3M4
Earnings per share-$0.289-$0.4110-$0.6711-$0.7712-$1.544$0.924$2.754
Earnings per share (diluted)-$0.289-$0.4110-$0.6711-$0.7712-$1.544$0.884$2.634
Shares (weighted, basic)29.1K shares1131.6K shares1233.4M shares435.0M shares436.1M shares4
Shares (weighted, diluted)29.1K shares1131.6K shares1233.4M shares436.6M shares437.8M shares4

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Corporate structure

EverQuote sits at the top of its group. 3 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of EverQuote

  • EverQuote Cambridge, Massachusetts
    • EverQuote India Private Limited Subsidiary · India
    • EverQuote NI Limited Subsidiary · United Kingdom

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What EverQuote reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Machinery and equipment$1.8M4 Dec 31, 2025$1.6M4 Dec 31, 2024+17.6%
Furniture and fixtures$186.0K4 Dec 31, 2025$131.0K4 Dec 31, 2024+42.0%
Computer equipment and software$19.9M4 Dec 31, 2025$16.1M4 Dec 31, 2024+23.4%
Leasehold improvements$444.0K4 Dec 31, 2025$366.0K4 Dec 31, 2024+21.3%
Property and equipment, before depreciation$22.3M4 Dec 31, 2025$18.2M4 Dec 31, 2024+23.0%
Accumulated depreciation$14.5M4 Dec 31, 2025$12.0M4 Dec 31, 2024+20.6%
Property and equipment, net$7.9M4 Dec 31, 2025$6.2M4 Dec 31, 2024+27.6%
Operating-lease assets (leased space)$2.4M4 Dec 31, 2025$3.4M4 Dec 31, 2024−30.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$171.4M4 Dec 31, 2025$102.1M4 Dec 31, 2024+67.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$21.5M4 Dec 31, 2025$21.5M4 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$04 Dec 31, 2025$3.3M4 Dec 31, 2024−100.0%
Finite-lived intangibles, gross$8.3M4 Dec 31, 2024$8.6M12 Dec 31, 2023−3.5%
Accumulated amortization$5.0M4 Dec 31, 2024$3.4M12 Dec 31, 2023+47.9%
Finite-lived intangibles, net$3.3M4 Dec 31, 2024$5.2M12 Dec 31, 2023−37.3%

Properties, in its own words

Our principal executive offices are located in Cambridge, Massachusetts, where we lease approximately 15,877 square feet of space through December 2027. We also lease approximately 8,090 square feet of office space in Belfast, Northern Ireland pursuant to a sublease that ends in July 2027. We believe that our current facilities are adequate to meet our immediate needs.

Item 2 of the 10-K filed Feb 24, 2026.19

The story

EverQuote was founded in Cambridge, Massachusetts, by Seth Birnbaum and Tomas Revesz, who met at MIT. Originally named AdHarmonics when it began in 2008, the company changed its name to Everquote in 2011, after creating its online insurance marketplace.

EverQuote was a part of the Cogo Labs incubator program run by the Massachusetts-based venture capital firm Link Ventures. In 2013, the company moved to its own office space.

In May 2015, MicroStrategy founder Sanju Bansal and Vestmark CEO John Lunny became members of the board of directors. In October 2016, EverQuote received $23 million in Series B funding via Savano Capital Partners, Stratim Capital LLC and Oceanic Partners, and T Capital Partners.

In 2017, Everquote added $13 million to its previous $23M funding. At the same time, they added Mira Wilczek, CEO of Cogo Labs at the time, to their board of directors, where she replaced Jonathan Shapiro. Since 2019, Paul Deninger has served as a board member of EverQuote.

In 2020, following the death of company founder Seth Birnbaum, he was replaced as CEO by the company's president Jayme Mendal.

Advertising

In 2016, EverQuote began an Internet advertising campaign featuring images of two young employees (not always the same two employees,) with text such as "How 2 math grads are disrupting the insurance industry." This juxtaposition suggested to many that the young people in the photo were founders of Everquote.

In response to controversy over the ads, co-founders Birnbaum and Revesz said that the photos were meant to showcase a "young, diverse" team at EverQuote. In March 2017, Everquote stated that they had paused the ads. Everquote said that future ads would end confusion about the roles of the young employees pictured.

EverDrive app

In 2016, EverQuote launched a new smartphone app called "EverDrive" to help drivers measure their driving safety, based on five criteria: phone use, speeding, accelerating, cornering and braking. Between 1/4 and 1/3 of drivers using this app upgraded their safety skills, over a period of four months, to earn better scores from the app.

From Wikipedia’s article on EverQuote, shared under CC BY-SA 4.0.6

Leadership

Who has led EverQuote, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Seth Birnbaum2018–2020
  2. Jayme Mendal2020–now

President

  1. Seth Birnbaum2018–2020
  2. Jayme Mendal2020–now

Chief financial officer

  1. John Brandon Wagner2018–2023
  2. Joseph Sanborn2023–now

Chief operating officer

  1. Jayme Mendal2019–2020
201520202025
Board members and other officers (22)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerDavid Mason named Feb 23, 202246

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • EverQuote India Private Limited India7
  • EverQuote NI Limited Northern Ireland7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • EverQuote, Inc.Apr 30, 2015 to Oct 13, 20265

Timeline

  1. Aug 3, 20268-K Results of operations; Regulation FD disclosure47
  2. Jun 5, 20268-K Bylaws or fiscal year changed; Shareholder vote48
  3. May 4, 20268-K Results of operations; Regulation FD disclosure49
  4. Feb 23, 20268-K Results of operations; Regulation FD disclosure50
  5. Nov 3, 20258-K Results of operations; Regulation FD disclosure51
  6. Aug 4, 20258-K Entered a material agreement; Results of operations; New debt or obligation52
  7. Jun 6, 20258-K Shareholder vote53
  8. May 5, 20258-K Results of operations; Regulation FD disclosure54
  9. Feb 24, 20258-K Results of operations; Regulation FD disclosure55
  10. Nov 4, 20248-K Results of operations; Regulation FD disclosure56
  11. Aug 5, 20248-K Results of operations; Regulation FD disclosure57
  12. Jun 10, 20248-K Shareholder vote58
  13. Dec 1, 2020New chief executive Jayme Mendal becomes CEO20
  14. Jun 27, 2018New chief executive Seth Birnbaum becomes CEO21
  15. 2011Founded Founded1

Calendar

Coming up

  1. Nov 2, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.50 a share, on Nov 3, 2025.59

When it reported results

  1. Aug 3, 2026Reported quarterly or annual results47
  2. May 4, 2026Reported quarterly or annual results49
  3. Feb 23, 2026Reported quarterly or annual results50
  4. Nov 3, 2025Reported quarterly or annual results51
  5. Aug 4, 2025Reported quarterly or annual results52
  6. May 5, 2025Reported quarterly or annual results54
  7. Feb 24, 2025Reported quarterly or annual results55
  8. Nov 4, 2024Reported quarterly or annual results56

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

756 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 34 major events, 486 insider forms, 39 large holders, 1 private raises, 176 other. The latest 20:

  1. Oct 13, 20264 EDGAR
  2. Oct 13, 20264 EDGAR
  3. Oct 9, 2026144 EDGAR
  4. Oct 9, 2026144 EDGAR
  5. Oct 8, 2026144 EDGAR
  6. Oct 8, 20264 EDGAR
  7. Oct 8, 20264 EDGAR
  8. Oct 7, 2026SCHEDULE 13G EDGAR
  9. Oct 6, 2026144 EDGAR
  10. Oct 6, 2026144 EDGAR
  11. Oct 5, 20264 EDGAR
  12. Oct 5, 20264 EDGAR
  13. Oct 5, 20264 EDGAR
  14. Oct 5, 20264 EDGAR
  15. Oct 1, 2026144 EDGAR
  16. Sep 17, 20264 EDGAR
  17. Sep 15, 2026144 EDGAR
  18. Sep 3, 20264 EDGAR
  19. Sep 1, 2026144 EDGAR
  20. Aug 27, 20264 EDGAR

The 756 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

327 open-market trades by officers, directors and large owners since October 2021: 40 buys and 287 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 15, 2026Mendal JaymeCEO and PresidentSale20,981$24.27$509.2KForm 4
Sep 1, 2026Wilczek MiraDirectorSale9,500$25.07$238.2KForm 4
Aug 25, 2026Brainard DavidChief Technology OfficerSale1,097$26.47$29.0KForm 4
Aug 25, 2026Ayotte JonChief Accounting OfficerSale1,436$26.47$38.0KForm 4
Aug 25, 2026Shields John L.DirectorSale3,126$26.39$82.5KForm 4
Aug 19, 2026Neble George RDirectorSale2,456$24.64$60.5KForm 4
Aug 10, 2026Sanborn JosephCFO and Chief Admin OfficerSale6,667$25.51$170.1KForm 4
Jul 8, 2026Sanborn JosephCFO and Chief Admin OfficerSale6,667$24.63$164.2KForm 4
Jul 6, 2026Ayotte JonChief Accounting OfficerSale881$24.96$22.0KForm 4
Jul 6, 2026Brainard DavidChief Technology OfficerSale4,960$25.51$126.5KForm 4
Jul 6, 2026Sanborn JosephCFO and Chief Admin OfficerSale642$24.50$15.7KForm 4
Jul 1, 2026Ayotte JonChief Accounting OfficerSale4,611$24.15$111.4KForm 4
Jun 8, 2026Sanborn JosephCFO and Chief Admin OfficerSale6,666$19.28$128.5KForm 4
Jun 1, 2026Ayotte JonChief Accounting OfficerSale889$20.00$17.8KForm 4
May 27, 2026Brainard DavidChief Technology OfficerSale581$19.90$11.6KForm 4
May 26, 2026Brainard DavidChief Technology OfficerSale516$18.69$9.6KForm 4
May 26, 2026Ayotte JonChief Accounting OfficerSale888$18.69$16.6KForm 4
May 21, 2026Ayotte JonChief Accounting OfficerSale285$18.24$5.2KForm 4
May 7, 2026Sanborn JosephCFO and Chief Admin OfficerSale20,000$20.70$414.0KForm 4
May 5, 2026Ayotte JonChief Accounting OfficerSale363$20.00$7.3KForm 4

All 327 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Jayme MendalPresident and Chief Executive Officer40$595.0K$9.2M73
2025Joseph SanbornChief Financial Officer, Chief Administrative Officer, Treasurer and Secretary56$460.0K$4.0M73
2025David BrainardChief Technology Officer54$435.0K$3.0M73
2025Julia BrncicFormer General Counsel and Secretary$294.2K$2.2M73
2025Jon AyotteChief Accounting Officer42$390.0K$1.2M73
2024Jayme MendalPresident and Chief Executive Officer40$565.0K$5.7M73
2024Joseph SanbornChief Financial Officer, Chief Administrative Officer, Treasurer and Secretary56$416.0K$2.3M73
2024Julia BrncicFormer General Counsel and Secretary$375.0K$1.8M73
2024David BrainardChief Technology Officer54$406.0K$1.8M73
2023Jayme MendalPresident and Chief Executive Officer40$375.0K$4.1M73
2023Julia BrncicFormer General Counsel and Secretary$294.2K$2.1M73
2023David BrainardChief Technology Officer54$330.0K$1.8M73
2023Joseph SanbornChief Financial Officer, Chief Administrative Officer, Treasurer and Secretary56$314.1K$1.5M73

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Feb 23, 2022Raised $15 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,818,452$90.8M0.0%+320,943
Allspring Global Investments Holdings, LLC1,427,325$35.3M0.1%+517,448
Vanguard Capital Management LLC1,190,990$28.3M0.0%−27,693
Mackenzie Financial Corp873,069$20.8M0.0%+733,642
Dimensional Fund Advisors LP847,724$20.2M0.0%+152,008
Nomura Asset Management International Inc.845,187$20.1M0.0%New
Goldman Sachs Group Inc740,881$17.6M0.0%+165,695
Aqr Capital Management LLC737,666$17.5M0.0%+160,551
Geode Capital Management, LLC733,359$17.4M0.0%+42,191
State Street Corp717,177$17.1M0.0%+28,438
Arrowstreet Capital, Limited Partnership669,833$15.9M0.0%−74,036
Emerald Advisers, LLC651,922$15.5M0.4%−39,344
Vanguard Portfolio Management LLC632,555$15.0M0.0%−280,409
Renaissance Technologies LLC543,279$12.9M0.0%−398,188
Lazard Asset Management LLC463,403$11.0M0.0%−32,543
Gilder Gagnon Howe & Co LLC460,075$10.9M0.1%+385,653
First Eagle Investment Management, LLC459,514$10.9M0.0%+227,557
Morgan Stanley418,456$10.0M0.0%+134,832
Emerald Mutual Fund Advisers Trust397,268$9.5M0.3%−14,338
Deutsche Bank Ag\339,744$8.1M0.0%+3,347
Boston Partners309,283$7.4M0.0%+52,610
Nuveen, LLC300,421$7.1M0.0%+76,644
Citadel Advisors LLC298,048$7.1M0.0%+210,529
Northern Trust Corp289,956$6.9M0.0%+31,443
Jane Street Group, LLC287,373$6.8M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How EverQuote is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAREverQuote, Inc.2
  • CIK0001640428
  • Employer ID (EIN)26-310116119
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company19
  • Incorporated inDelaware19
  • Fiscal year endsDecember 312
  • Industry code (SIC)7370 Services-Computer Programming, Data Processing, Etc.2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address141 Portland Street, Cambridge, MA 021392
  • Phone617-245-06152
  • Shares outstanding32,425,405 Common Class A shares; 3,604,278 Common Class B shares as of Jan 31, 202619
  • Public float$675.8M as of Jun 30, 202519
  • AuditorPricewaterhouseCoopers LLP, Boston, Massachusetts PCAOB ID 238; it also attests to the company’s internal control over financial reporting19
  • On EDGAR sinceApr 30, 20152
  • Filings1,275 in all: 4 (829), 144 (142), 8-K (64), 3 (37), SC 13G/A (31), 4/A (30), 10-Q (25), SC 13G (19)2
    All 40 form types

    S-8 (10), 10-K (8), CORRESP (8), DEF 14A (8), DEFA14A (7), SC 13D/A (7), UPLOAD (7), SCHEDULE 13G/A (5), ARS (4), D (4), 3/A (3), SCHEDULE 13G (3), EFFECT (2), S-1/A (2), S-3 (2), SCHEDULE 13D/A (2), 10-K/A (1), 10-Q/A (1), 424B4 (1), 5 (1), 8-A12B (1), 8-K/A (1), CERT (1), D/A (1), DRS (1), DRS/A (1), DRSLTR (1), PRE 14A (1), S-1 (1), S-3/A (1), SC 13D (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Apr 23, 2026
    Latest 8-K (8-K) Aug 3, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $0.001 Par Value Per ShareEVERThe Nasdaq Global Market

From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).19

Risk factors and legal proceedings

The risks EverQuote names in Item 1A of its 10-K filed Feb 24, 2026: 32 risks under these headings, as written.19

  • Risks Related to Our Business and Industry
  • Our business is highly subject to business cycles and risks related to the property and casualty insurance industries, and specifically automotive insurance. Adverse conditions in the insurance markets, as well as the general economy, could have a material adverse effect on our business, financial condition, and results of operations.
  • We depend on relationships with insurance provider customers with no long-term minimum financial commitments. A reduction in spend by our customers, a loss of customers, lower advertising yields, or our inability to establish and maintain new relationships with insurance providers could materially harm our business, results of operations and financial condition.
  • We generated a significant portion of our revenue in recent periods from a small number of customers, and our results of operations could be adversely affected and stockholder value harmed if we lose business from these customers.
  • We depend on third-party media sources, such as third-party publishers, for a significant portion of our visitors. Any decline in the supply of media available through these third-party publishers for any reason, or increase in their prices could cause our revenue to decline or our cost to attract visitors to increase and our business and financial results may be harmed.
  • We depend on internet search engines, display advertising, social media, online advertising and other sources to attract visitors to our website or marketplace, or to our third-party publishers’ websites. Changes in search engine algorithms, browser companies’ treatment of third-party cookies, or increased usage of ad-blocking software may reduce the number of visitors to our website and marketplace or to our third-party publishers’ websites and, as a result, our business and financial results may be harmed.
  • Limitations restricting our ability to market to users or collect and use data derived from user activities resulting from consumer-adopted technologies, service provider decisions, government regulation, or otherwise could significantly diminish the value of our services and have an adverse effect on our ability to generate revenue.
  • If the way cookies are used or shared, or the use or transfer of cookies, is restricted by third parties outside of our control or becomes subject to unfavorable legislation or regulation, our ability to develop and provide certain products or services could be affected.
  • Our business could be materially and adversely affected by a cybersecurity breach or other attack, failure or interruption involving our computer systems or our third-party service providers.
  • We use and may further incorporate AI and machine learning in our business, and challenges with properly managing its use could result in reputational harm, competitive harm, and legal liability, and adversely affect our results of operations.
  • If we fail to continually enhance and adapt our products and services to keep pace with rapidly changing technologies and industry standards, we may not remain competitive and could lose customers or traffic to our websites, which could materially adversely affect our business and financial condition, operating results, cash flows and prospects.
  • If we fail to compete effectively against companies engaged in digital customer acquisition, including competitors and other technology companies, we could lose customers and our revenue may decline.
The other 21 risks
  • Our business depends on our ability to maintain and improve the technology infrastructure necessary to send marketing emails and operate our websites, and any significant disruption in service on our email network infrastructure or websites could result in a loss of consumers, which could harm our business, brand, operating results and financial condition.
  • We rely on the performance of highly skilled personnel to operate our business, and if we are unable to retain, attract, develop and motivate well-qualified employees, our business and results of operations could be harmed.
  • We are subject to a number of risks related to the credit card and debit card payments we accept.
  • If we were required to draw upon our line of credit, indebtedness could adversely affect our ability to operate our business, financial condition and results of operations.
  • Risks Related to Laws and Regulations
  • Changing regulations regarding the insurance industry in the past have had, and in the future may have, a material and adverse impact on our revenue, business and growth.
  • Increased regulation regarding data privacy and security may have a material and adverse impact on our revenue, business and growth.
  • Changing regulations regarding telemarketing and text message marketing campaigns in the past have had, and in the future may have, a material and adverse impact on our revenue, business and growth.
  • Regulations regarding email marketing campaigns may have a material and adverse impact on our revenue, business and growth.
  • We may become subject to litigation, audit or investigation, which could result in financial liability, fines and penalties, restrictions on our operations or reputational damage.
  • Risks Related to Our Intellectual Property
  • We may not be able to adequately protect our intellectual property rights.
  • We may in the future be subject to intellectual property disputes, which are costly to defend and could harm our business and operating results.
  • Confidentiality agreements with employees and others may not adequately prevent disclosure of trade secrets and other proprietary information.
  • Our use of “open source” software could adversely affect our ability to protect our proprietary software and subject us to possible litigation.
  • Taxing authorities may assert that we should have collected or in the future should collect sales, use, value added or similar taxes, and we could be subject to liability with respect to past or future sales, which could adversely affect our operating results.
  • Risks Related to Our Class A Common Stock
  • An active trading market for our Class A common stock may not be sustained.
  • The market price of our Class A common stock has been and may continue to be volatile, which could result in substantial losses for investors and could subject us to securities class action litigation.
  • The dual-class structure of our common stock has the effect of concentrating voting control with the holders of our Class B common stock, which will limit or preclude the ability of other stockholders to influence corporate matters, including the election of directors, amendments of our organizational documents and any merger, consolidation, sale of all or substantially all of our assets, or other major corporate transaction requiring stockholder approval.
  • Our status as a “controlled company” could make our Class A common stock less attractive to some investors or otherwise harm our stock price.
  • Fluctuations in our operating results could reduce our cash flow, or trigger restrictions under our credit facility and cause us to be unable to repurchase shares under our recently announced share repurchase program, either at all or at the times or in the amounts we desire, and as a result, our share repurchase program may not be as beneficial as we would like.
  • A significant portion of our total outstanding shares may be sold into the public market in the near future, which could cause the market price of our Class A common stock to drop significantly, even if our business is doing well.
  • Anti-takeover provisions in our restated certificate of incorporation and our amended and restated bylaws, as well as provisions of Delaware law, might discourage, delay or prevent a change in control of our company or changes in our management and, therefore, depress the trading price of our Class A common stock.

Legal proceedings

Information with respect to legal proceedings and this item is included in Note 11 of the Notes to Consolidated Financial Statements contained in Part II, Item 8 of this Annual Report on Form 10-K, which is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.19

Sources

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