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Analyst
Zach Cummins
Period: Reporting periods mapped to calendar 2024 Q3 – 2025 Q4 (6 quarters).
- Questions
- 16on tracked calls
- Challenge rate
- 6%1 of 16 questions
- Companies
- 2questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 16 of 16 questions from 2 companies
EVEREverQuote, Inc.10 questions · 5 reporting periods · 0 of 10 challenging
Calendar 2025 Q4
are you anticipating kind of a broadening of contribution that you see from your carrier base this year?
Show response
CFO noted top 4 carriers consistent Q3 to Q4 but more movement in 5-10 positions. National carrier reactivating in 2026 will add competitive dynamics. Shift from rate adequacy to profitable policy growth driving more carrier competition within marketplace.
can you give us a sense if you've seen any meaningful changes in the traffic that's coming on to your platform since we've seen more of an emergence with these large LLM platforms?
Show response
CEO said no material traffic impact from AI search platforms. SEO was never part of EverQuote's mix, so organic search disruption is not a concern. Expects AI search to become a channel of substance in 2026 through content, integrations, and paid ads.
Calendar 2025 Q3
just curious what you're hearing from some of these partners and how they're thinking about deploying budgets as we move into 2026
Show response
CFO noted Q4 defying normal seasonal pattern with revenue guided up versus Q3. Carriers entering Q4 with greater clarity on tariffs and cat environment. Expects continued carrier growth into 2026.
Is there any way to break out kind of the anticipated impact that you're seeing to VMM in Q4 as a result of these channels?
Show response
CEO described channels as social, video, display, CTV, and AI search with 1-2 quarter optimization periods. CFO quantified ~200bps VMM impact from new channel investments. Maintained high-20s VMM over time.
Calendar 2025 Q2
if there is any interesting M&A that you're considering at this juncture?
Show response
CFO confirmed continued selective M&A evaluation focused on P&C market acceleration. No specific deals disclosed but actively looking over coming months.
It sounded like you had one major carrier that really ramped up spend, while another was more so in a defensive mode here in Q2. So any additional context
Show response
CEO said the fluctuating carrier is recovering. A couple of inactive carriers plan to reactivate in H2. Expects full historical carrier panel by year-end.
Calendar 2025 Q1
are you assuming any pickup from more challenged states like California or New York, or meaningful pickup from other maybe lagging carriers
Show response
CFO said California and New York coming online remains a potential upside. No new carriers in meaningful way in Q1. Tariff impact being monitored but carriers appear able to absorb.
Can you talk about just some of the results you are seeing there, especially after you've rolled out your new platform on the agency side?
Show response
CEO reported 20-30% agent channel growth despite one-to-one consent disruption. Deepening agent relationships through value-add products, accessing more agent budget.
Calendar 2024 Q4
I was just curious of some of the feedback that you've been getting from carriers. From my understanding, some carriers are still wanting to maintain some of those standards
Show response
CEO corrected the premise, no major carriers imposing standards beyond legal compliance, though there is appetite for higher-quality lead products on both carrier and agent sides.
can you speak to the feedback you've been getting from just the broader set of carriers as they go into 2025?
Show response
CEO noted broad-based healthy underwriting profitability with only a small handful of states/carriers lagging. Orientation swinging heavily towards growth across both channels.
QNSTQuinStreet, Inc.6 questions · 6 reporting periods · 1 of 6 challenging
Calendar 2025 Q4
can you talk about the traffic trends you've been seeing with your platform in recent months?
Show response
Doug said traffic trends are strongly net positive and argued AI disintermediation fears are overblown for QuinStreet.
Calendar 2025 Q3
could just talk a little bit more about the spending trends you're seeing broadly among your auto insurance carriers.
Show response
Doug cited a record number of carriers spending over $1 million a month and broadening demand.
Calendar 2025 Q2
just curious of maybe the spending levels or potential intent to spend across your entire carrier base
Show response
Doug said a record 8 or 9 carriers spent over $1 million per month, with Progressive a lower share of revenue.
Calendar 2025 Q1
can you give us a sense of how that performed on a sequential basis versus Q2?
Show response
Greg said auto was down about 10% sequentially, normal after an exceptionally strong December quarter.
Calendar 2024 Q4
can you comment on any potential impact, especially on the margin side that you had around implementation
Show response
Doug said Home Services should be stronger in the back half than if the TCPA changes had been implemented.
Calendar 2024 Q3
can you talk about what really drove the strong growth we saw here in Q1?
Show response
Doug cited a large early-stage market and a modest, conservative Home Services back-half posture for the TCPA transition.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| EVER EverQuote, Inc. | 10 | 0%none of 10 questions |
| QNST QuinStreet, Inc. | 6 | 17%1 of 6 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q3 | 1 | 0%none of 1 question | 1 |
| 2024 Q4 | 3 | 0%none of 3 questions | 2 |
| 2025 Q1 | 3 | 0%none of 3 questions | 2 |
| 2025 Q2 | 3 | 0%none of 3 questions | 2 |
| 2025 Q3 | 3 | 0%none of 3 questions | 2 |
| 2025 Q4 | 3 | 33%1 of 3 questions | 2 |
- 2024 Q31 question · challenge rate 0% (none of 1 question) · 1 company
- 2024 Q43 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q13 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q23 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q33 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q43 questions · challenge rate 33% (1 of 3 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Demand11
- Competitive Dynamics5
- Regulation Policy3
- Cloud & AI2
- Revenue Growth2
- Margin2
- Macroeconomic2
- Cost Pressure1
- Innovation & R&D1
- M&A1
Show all 12 topics
- Capital Allocation1
- Product Launch1