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All right. Thanks, everyone, for joining us here today. Happy to have EverQuote. It's been a conference staple at our 29th annual TMT conference. Pleased to be joined by Joseph Sanborn, CFO of EverQuot, and Sarah Buda, VP of IR, who I think you recently joined the team. So thank you both for joining us. Thank you, Jeff. Pleasure to be here. Yeah. So, you know, Joseph, kudos to you. I think if you sort of look at your financial metrics over the last two years, right. You know, I think you've generated almost close to 200 million of free cash flow. You've been the best performing insurance marketplace. And what's a pretty crowded space if you look at it, a lot of competitors. So can you just talk about what's been working, where you're seeing pockets of strength, and just why has the business been performing so good for the last two years? Sure. Well, thanks, Jed. It's great to be back with you. We always enjoy being at your conferences. I guess backdrop for EverQuote, right? We're an insurance marketplace. We help PNC carriers and agents help grow their business through digital channels. That is our mission. And the thing that has been our attribute of how we succeed is how we use technology and our proprietary data to continue to help drive performance for carriers and agents. So what has been driving our growth and what we think will continue to drive our growth? Maybe I'll give you sort of some of the growth levers, Chad, for you. So first is focused on getting better performance for carrier and agents, number one thing we do and why carriers and agencies want to work is we help them find consumers online to meet the specific attributes. The interesting thing about insurance versus a lot of other verticals is the specificity with how the matching between provider and consumer has to be done. Consumers, if you're looking at travel and we want to fly from Boston to New York, Delta Airlines is happy to sell the same ticket to all of us. You think about insurance, it's very different. Your driving record may be a little better than my driving record, Jed. Sarah's obviously better than all of ours. How carers want us is very different, how they price that is very – So how do we drive performance that precisely allows carers to meet the targets they want? We keep doing that more and more through our, we'll talk about our smart campaigns and how we leverage our proprietary data. So that's one, better performance. Two is scale, getting bigger scale. Bigger scale comes from driving more traffic into the marketplace. And the second piece is getting more provider budget from carers and agents on. That flywheel of getting better performance and bigger scale allows us to continue to drive the performance you're seeing. Third has been how we're helping our carriers and agents succeed. In the summer of 23, we made a decision to get out of health and life, focus on PNC, focus on the vertical. We think we have a right to win. And as part of that, we've been going deeper, trying to help carriers and agencies be successful in growing their business. Part of that is adding a broader range of services to carriers and agency. To help them do that. And so we've talked about in some of our earnings calls, particularly with agents, we used to have one product for agents, an online to offline connection called a lead. We've been adding more products for agents. We're now at 1.4 product per agents, 1.5 products per agent. And that reflects we're helping them grow their business. We'RE adding things such as digital marketing service in their local presence. We'Re using conversational AI solutions to bring calls to them at a lower cost over time by using AI. So those are some things we're doing to get broader. And of course, if you look at our financial performance, that is driving top-line growth. The other piece is how are we also balancing that with making prudent investments to invest for that opportunity long-term while still being disciplined in managing the operations of the business and driving efficiency. So the fourth pillar that I'd like to describe is how we continue to drive automation. We've been leveraging AI to do that, both driving innovation for our customers, but also making our own internal operations more efficient and able to move faster. Got it. I think a lot of times, you know, when you sort of look at this, I mean, the last five, six years, insurance, insurance and insurance marketing has been pretty cyclical. You obviously manage this upcycle pretty, pretty, really well. And are we now when I kind of look AT your, I always look at your business on variable marketing dollars, you kind of high teens, low 20s growth right now. Are we kind of entering this Goldilocks period of where the carriers kind of are in a pretty good spot, you're in a pretty good slot, and we're kind of getting better predictability around your earnings? I think a Goldilock scenario is a nice way to describe our ratchet. And I think, what is that backdrop for those folks who sort of don't know the insurance landscape? So when you're a carrier CEO, you really want to do two things. You want to achieve and maintain underwriting profitability. And second is you want to maintain and grow policies and force. For the better part of two and a half, three years after COVID, the carriers focused on getting underwriting probability. And there was some challenges in doing that. We can talk about what made that such a black swan type period for the carriers. And then the second piece is now maintain growing policy force. They have rate adequacy broadly, they are broadly healthy, right? That is measured by a metric called a combined ratio, which represents total revenues, less your underwriting costs and costs from the business equals profit. Combined ratios, the targets for carriers typically is in sort of mid-90s and some carriers even high 90s. Where they're operating today is in the low to mid-80s, many carriers. They are very, very profitable. So they are leaning into growth. And as we said at the start of our year, in our February earnings call, carriers want to grow this year. They're broadly healthy. We expect them to want to go. We said in our May call, carers are broadly healthy. We expect they want to want grow. We say in our August call, the same thing. We don't see a change in the foreseeable future. And I think there's this dynamic we have going, which is we help carriers. As carriers are growing, they're trying to do it in a way that is creating a more high-quality, enduring book of business. And part of that is really targeting the specific profile consumer that they think meets their attributes. And that is what we're very effective at doing and happy to talk more about how we do that. I think that really sets, that's our skill set that plays very well in this market. So I think it is a great way to describe it, a Goldilocks environment for us and to help support their growth. Okay. And then when we sort of look at where, you know, consensus street numbers shook out for the second half implies somewhat of a little bit of a deceleration in revenue, variable marketing dollars. You know, comps aren't all that different. So some of that conservatism, some ofthat from the carriers, just can you kind of help us square how we should be thinking about the secondhalf of the year? Sure. So, you know, if you look at, you know, first of all, we had a really strong Q2. We had 25% year-on-year growth. You know, on revenues, we have 37% in EBITDA. So really strong growth. First half of the growth is 20 plus percent. So we feel very good about that. As we look to the second half of the year, we continue to see a very favorable environment. The midpoint of our target for Q3 would imply a 17% year-on-year growth on revenues. We don't guide for the year, as you know. We've given some indications of how things might evolve based on what we're seeing. And I think the street is showing us, I think, at like 15% or 16% year and year growth on consensus. What we would say as we look at the environment is we continue to feel very good about it, right? You know, this is a business where you say, hey, well, you're growing. It looks like you were growing fast in the first half. What's happened in the second half? There's something to worry about. There's really no story per se. It's just that as the carers think about building their business, they're doing this a very enduring way. So it used to be, Jed, you've known our business from in public, is it used to be carers would start the year and throw out a lot of dollars with a new budget. They pull back in Q2, maybe lean in Q3 and pull back in Q4, and the dynamic seems to be different as we've been coming out of this in this new environment. They seem to be much more focused on just because we can start the year with the low combined ratios doesn't mean we have to spend it all right away. We want this more enduring approach, and you're seeing this discipline where actually Q2 was actually, you know, it was a really strong quarter for us, and actually an increase in Q1. So as you look to the back half, one of the things to be mindful of is when you look at Q4 and you say, well, the comps, how does it compare on the comps? Q4 of last year is, as you just remind folks, was a very unusual quarter for us. We had a typically from Q3 to Q4, you have a sequential increase of maybe like three-ish percent. We had a sequential decrease of Q3 and Q4 last year of 12%. It was a record revenue quarter for us. It was also the first time we'd ever had double-digit sequential increase. We typically are much lower. What drove that last year was somewhat unusual characteristics, which was two carriers who had very favorable combined ratios came to us in the midway through the quarter of Q4 of 25 and said, hey, can you guys help us really grow and use budget before the end of the year efficiently to help us sort of build our position going into the new year? And we said, sure, we can do that. And that was an unusual thing to have happen. People said, well, could that happen this year? That's always the question we get, or at least it's been the question in the past couple of weeks. And what we've said is, well, here's the environment that existed at the time of last year. What's the same and what could be different? Last year, combined ratios were low going into, were quite favorable. They are quite favorable now at the same time. Yet, as we look at last year, the cat season was very mild, which goes from mid-August to mid-November. We don't yet know what the cat's season will be this year, but that is one variable into it. And then you look at carriers going into Q4, if it's a mild CAT season, and if a repeat of last year, you could have a repeat last year having a couple carriers coming forward to do additional growth in the latter part of the quarter. And that could just say, hey, that's going to allow you to have a strong Q4 potentially a repeat the unusual thing that happened last year. Conversely, if it is a more normalized CAT season it may be a 3% or 4% sequential growth over Q3. So we will see exactly how it plays out but again we feel very good about the environment broadly and we think that's going to continue for the foreseeable future and into 2027 and you know it's kind of dovetailing just off foreseeable feature 2027 you've put this billion dollars of revenue target out there as you know i think about okay what's that imply for variable marketing dollars because I do feel like you can, depending on how you want, you can where you want to shift your margin, you do have a lot of control of your revenue, but that probably implies almost $300 million in variable market dollars too. So just kind of give us a sense, like what gave you, why put that out there? I think you've had that out There now for almost a year. And, you know, it does look like you're benchmarking it to pretty close to hitting that number in the next 12 to 18 months, if we look at it. Sure. So just from context for the audience was in November, 2025 earnings call. So first week of November, we put out a target. It will be a billion dollar business in two to three years. At the time we were tracking about 675 plus, we ended up slightly higher than that. If we did it at the time in three years, it would have implied like a 13% growth. If we did it in two years, like a 21% growth, so fast forward, we're nine months into that. So we feel very confident that we will be a billion-dollar business in 15 months to 27 months, right? How exactly will play out, we will see. If it happens in 15 month, it would imply a business that's growing, you know, 24%, 25% annually in that period. If it takes more like 27 months it's more like, you 13% we'll see how it exactly plays out, you age 12 to 18 sort of falls within that zone as well. So we feel very good about achieving that target on the timeline we outlined. We continue to feel that way. What's important to note is we will do that as balancing growth and profitability. We see this in that time that we will have additional growth in EBITDA dollars, additional EBITDAC converting into free cash flow. And again, we believe this balance from growth and profitability. And what exactly are EBITDI margin? We always get the question of the past weeks, what exactly EBITDE margin will be when you cross? I said, well, it depends when we cross. What I can tell you is we will be adding more EBITDA dollars as we progress towards that goal. And the longer term goal is to progress to a view of getting 20% EBIT down margins and continue to drive that 20% top line growth on average over time. And so we'll be a 20% EBT to our business. We cross a billion, unlikely to be there, but you'll see us making progress over time to getting there. and you know we're excited by that journey and importantly i'd say it's an organic growth path it's not one that's based in m&a we see this real path with the business we have to get there and so we're exciting got it and then as we sort of look you've had you know very disciplined cost structure um you know over the last couple years i mean should we expect to hit this billion you know as you kind of scale, do you have to make a ton of, I mean, I know you're making some investments around AI product, but like, how should we think of the investment ramp sort of trying to hit that number? Sure. So I, so in our recent earnings call, we talked a little about the second half of the, on how we thought about investment. Right. And just to remind folks of that first half of year, Q2 of this year, we're about a little under 27 million, which is very much what the analysts expected. If you went back to our February earnings call you, what we said is, hey, expect costs will rise in the second half of the year. Expect that we'll, because we make additional investments in new product offerings around AI-first products, as well as around investments into sort of AI tokens and broadly AI enablement. So as we said at the start of the era, what we did in this call, there was really nothing new in terms of that messaging. We just gave a little more specificity of what was being spent on and some numbers around it. That 27-ish million in Q2 will probably go up a million dollars in Q3, maybe another half million in Q4. EBITDA margins will go down a little bit in the back half of the year, but again, you go back to what I said at the start of the ear, wouldn't be surprised by that. You're going to see EBITTA margins were 13.6 last year, all at about 100 basis points this year, and we're still on track to do that. So again, we think that will continue. The growth that the investments we're making are really supporting, yes, partly on the path to a billion, but also making these investments in AI and also in both internal efficiency, but also bringing new products and opportunities to help our carriers and agents grow their business. We alluded to these a bit in our earnings call. We'll be talking more as we progress through the fall. But we are very excited about the opportunity we see in front of us to build a really large business. So we felt this way for some time, Jed. I think I told you, we put that billion-dollar target out in November of last year. We had had that billion dollar target we've been tracking to for well over 18 months internally, the same thing. So we're now, we shared externally with you in November last year. Now we're sharing a little more about our vision to how we're going to build a business beyond a billion dollars. And some of the investments we're making now are going to be part of that. And so what that means is we progress towards our path to a billion. We'll be adding additional EBITDA dollars, additional cashflow, but we'll also be making investments. And those investments will help us make sure we continue to build market leadership, building our proprietary data advantage, make our investments in new products, help carriers and agents grow their business got it and you know i said earlier you know when you just look at the free cash flow growth of this business and how much it's compounded over the last two years it's pretty incredible where you're now at a position of strength i know you've got a buyback but you know how do you think about capital allocation and you Know I would think potentially like consolidation in this industry could help some of your pricing with some of your larger carrier partners and maybe some synergies around like what you pay for advertising. So can you just give us a sense on how we should view capital allocation? Sure. So we think about capital allocation as probably three pieces to it. First is we believe it's really important to have a strong balance sheet. You know, as Jed, there was a time you and a few others may have said three years ago, hey, are you even going to be around? I think our cash was in the 20s. And you're like, oh, this is not going in the right direction because we are losing quite a bit of quarter. So we think having a strong balance sheet is key for two reasons. One is it makes carriers who are making commitments to work with us and share data that they have a partner who will be there, that we have a strong balanced sheet will be. That's one. Two is we think about some of the investments you're making. These are multi-year investments. You have to have confidence on your financial position to make those investments. And so that's one, so a strong balancing sheet will continue to be a priority. Second is buybacks. you mentioned we did a buyback program. We authorized a $50 million program. The board did in August of last year was our first program. You just completed that in Q2. We were very pleased with it. We brought back about 2.6 million shares, about seven and a quarter percent of the shares outstanding. And we thought that was, we were pleased with those results. And it will continue to look at buybacks. As we said in our earnings call last week, we expect the board to review that as part of capital allocation as we progress through the year. And then the third is M&A. And we see M&As, as we've talked about, as a real opportunity for us to continue to build upon the position we're trying as a leader in this space. Importantly, I want to say is we do not see MNA as required to hit our path to a billion. That is purely an organic path. But as we think about building leadership, a billion and a half, two billion, three billion type business, M&AI could play a role in that. And when we think about M&a, we think we remain focused on the P&C space, But we've talked about our mission, how to bring more products to help our carriers and agents grow their business. M&A could fit into that. We talked a little about that in our earnings call. As we think about growing beyond auto into other personal lines, P&C areas, it could play a role in that. And, of course, the other thing about M&As is it brings additional data insights to our proprietary data and also talent. At the end of the day, this is a talent business. If you're going to build a lead, you have to have the right talent. we've got great talent in our company today. As we continue to grow the business, M&A can be a way to bring in new talent. So we certainly are looking at that. What I would say to you, and we've been saying pretty consistently, is these are the same capital allocation priorities we identified last year, and we have not changed enough. The difference I would see in M&As is being more thoughtful about how we look at M&AI opportunities, being more, we added someone to our team, in addition to Sarah joining us this year, we had someone to our team in the M&S, and we're being thoughtful looking at it. One of the encouraging things I agree with you is that there is an opportunity that there's a lot of insure techs out there who have a vision in this space that they are not gonna be able to do it independently. And when you talk to them, I think they're seeing someone in EverQuote, the EverQuotes story of a lot of passion to drive innovation and growth in this big space. And there's lot of interest to be part of it. So you'll hear us talking more about it. But again, investors should be able to be done in a disciplined way, just like we've done everything over the past several quarters. Got it. And when you sort of look at the biz, look at the industry, you know, you're probably being unfairly categorized as someone with some SEO headwinds, AI disruption risk, even though if you kind of look at just the efficiency, how you've done over the last two years, AI is obviously an accelerant for your business. Yes. So you can you kind of square that for people on this call? I mean, you know, carriers are never going to put their bindable rates on an llm so like there's a lot of misconception here and it's obviously impacting your multiple because there's not a stock that's had this performance in free cash flow that's trading like this so just kind of give us a sense on you know how how we should be thinking about ai being a seller accelerant for your business so uh we really feel hard you know um the ai The story of an AI headwind, forever quote, ever quote, and changing search, we actually think quite the opposite. We think AI, we're going to be a beneficiary. And I think, let me try to address what we see as the questions, the misconceptions around the investors. The first is that all marketplaces are the same. And the thesis on that is AI search will disrupt all market places the same way. The reality is that insurance is different. It's not the same as other markets. Why is it different? But one, the information for the large language models to access pricing is not widely available. Pricing is opaque for insurance, so the data is not available to these models. So that's one. Two is it's a very regulated industry, so how purchasing has to be done, it varies actually by all 50 states. Insurance is not regulated at the federal level, it's done at the state level. So this is a regulatory complexity. And then also the carriers themselves, to your point, carriers are very sensitive. The reason it's such an opaque price market is carriers have a very sense to protect their pricing information. They have invested in building their brands and is also a consideration even beyond brands, which is if you have a consumer shop for just the lowest possible price, as has happened in the UK market, you have potential for adverse selection, building the quality of the book. The carriers do not want to see that happen. So what we see evolving in the AI search landscape is that today, AI search is having very little impact on the shopping for insurance today. We do not see it as this headwind in the insurance shopping today. What we see in the medium term, we think it'll be an opportunity, right? Why do we think will be an opportune? Because these carriers are saying, hey, we see the landscape out there. Consumers are using AI agents across other spaces. we see those will come to insurance and it's actually this is very similar story when we were when we're at our ipo in 2018 we see digital shopping happening out of other verticals eventually it'll come to assurance right same thing will happen we think we'll be well positioned that because those carriers are going to say are saying to us hey we want to access that traffic but we don't to your point yet they don't want to directly connect they don'T want that investment in brand and that how they manage their price they all of a sudden be exposed and the internet, we believe they'll want to work with a trusted partner, someone who they've trusted their data with for many years now. And we think we're well positioned to do that. And so we think that's how it'll evolve. But as I think about how the landscape of AI search evolve, I'd say even more broadly, there's probably three ways we think monetization will happen over time. Again, we don't see this happening overnight in insurance, but we'd say one is, depending on how the large language malls decide to approach the space, and it may vary based on the malls. One could be you start to have, they start to monetize through advertising. Well, we're pretty good at performance marketing and adding new channels, so we think that would work well for us and well for the industry. But we'll see, and some may do that. Some large language models have indicated they want to almost, as they have subscribers, they might be able to give better shopping experiences through APIs. We see a role in doing that, as I just talked about. And the last one we see is, as you think about the search landscape evolving, you see this idea of what is organic search going to mean? So as you know, we have done, we've almost no organic search in our history. Generally speaking, organic search is something that has not existed in insurance specific areas like travel has had a financial service because people dream about travel and you can read content and that'll bring you into shopping. So for some reason, people do not dream about insurance. I'm not quite sure why we do, but others seem not to, but it's a very high intense search. But as you think about the world of organic traffic in the context of AI agents, we think one of the things will come about is what we call AEO and some other analysts have called AEO, which is how do you educate digital agents or AI agents of consumers on insurance shopping? And so we're very fortunate. We have 6,000 local agents who are experts on insurance, and we think that will provide value to helping people think those educating the market on what we do. So we think there's a real opportunity for us. And importantly, we're in a trusted position with carriers and agents. They trust us with their data. They've worked with us for a long time. We've shown how we can do that in a way that helps benefit them, help improve our business, and be doing a way that still safeguards their information. And we think that's, so we're excited by what's to come. And so we look forward to it. got it and you talk about 6 000 agents you know i know you've kind of thought about vertical integration a couple years ago building out your larger agency presence and i think you know vertical integration always makes sense right it's you can actually develop if you have agents and ai and some people right you can develop a more deeper relationship with the customer higher reoccurring revenue, better customer service. How do you kind of think about where you are in terms of the vertical integration strategy? Well, if you think all the way out to an agentic world, what might evolve? And so there's this concept of, we've talked about an A to A experience. A consumer's AI agent actually connects with the provider's AI agents, right? And this is not a tomorrow, this is Not a Day, certainly, or even tomorrow. It may be quite a ways out because there's lots of regulatory and other considerations. There could be a future will for that to occur. And there's certainly a role for EverQuote enabling that to happen. And whether we choose to do that through helping providers have their own internal AI agents, whether we help do that to having agents that work with different carriers, we'll see how that unfolds. But ultimately, that is the goal, I think, as a world of AI shopping event comes into insurance over time. How do you have the consumer's agent, I'll say AI agent to avoid confusion, AI agent go through to the provider's AI agent over time. And I think we're well set up to think about how that journey will evolve. And that's how monetization will evolve for us. So I think the world of having agents as we had for a period of time, that's helpful and interesting. But I think if we think about where the future is and how we'll support that, we're excited by it. Got it. And I think your homes business just had in front of me showed pretty strong growth. You know, I think, you know, it's probably I mean, can you just talk about where we are with the other verticals, auto versus homes and sort of you actually start to think about expanding it to more verticals. I know you did try health. You got rid of it. Just just where are we with home and everything else? Sure. So we'll start with we believe in the PNC vertical. We think it's a massive market. And within purse lines, we think there's a lot of opportunity to support growth to make not a billion dollar business, a several billion dollar. business. So I'll say that first and foremost. If we look at our home business, we've been very pleased with our home businesses because it has continued to execute well against a very favorable background. So just to remind folks in our home business, it was roughly 12% of our business in Q2, 35% year-on-year growth, was the second quarter of a row of 35% year-on-year growth. Still a relatively small business for us in total, but we're very bullish on the prospects. And there's probably two things I would highlight for why we're bullish. One is the backdrop from the industry perspective. If you think about the carriers, they looked at home, they prioritized getting rate adequacy and auto first. Now they're shifting to home. So that's been a failed backdrop. Two is the size of the market, right? The size of market. if you look at where it is for us versus the overall industry, it's roughly for every $2 of auto insurance, auto and premiums is a dollar of home. So large portion of the market for us, it's 90, 10 or 88, 12%. We think there's a long way to go in the journey to go from where we are to support growth to a much larger business. So that's the second piece. And the third, I guess, in some ways I'd say the thing that probably should have led with first is what we have done to take advantage of that opportunity. About 18 months ago, we made a decision, which was that home leverages a lot of common technology, a lot common overlap in providers, but there are differences. The home shopping journey is different than the auto shopping journey. What we have done is really invest, putting the right talent in charge of that vertical. Think about an N10. What are the differences you have to think about in the customer acquisition process? What are differences in how the providers are connected and educated, educating the consumer? All of those together, favorable backdrop, the size of the market opportunity, and lastly, how our team is executing. We think that will add up to home growing at a larger rate than auto, certainly, in the medium term and being on that path to a growing percentage of our business. Got it. And you said, I think you said in the opening remarks or maybe earnings call, smart campaigns are now live with seven of the top 10 carriers. Yes. Revenue is up 100%. Can you give the audience that might not be as familiar with EverQuote, like what that entails and what's driving the opportunity there? Yeah. So smart campaigns is our AI bidding engine that carriers can use to place bids in our marketplace. And so if you look at the history of smart campaigns, as it started about four and a half years ago, where some of the smaller carriers, we said, hey, help us access digital acquisition. We don't have the in-house teams to go into your platform and make the decisions on how to do bidding. Help us do that. Smart Campaigns 1.0 is that version. I remember at the time when we were having that product, there was some commentary from analysts, and they said, you may get a few carriers, but you're never going to get carriers to trust you sharing that type of information with you. Because for it to work, they have to share disposition data and even lifetime value, some of the most sensitive data they're sharing with us. You know, fast forward four and a half years later, seven of our top 10 carriers are now using it. So how has it evolved from that, from something that some people said would never happen to now seven of the top 10 use it? I think a couple of things have happened in that. One is in that time period, we focused on going deeper. We've, you know, in the summer 2020, we said we're going to focus on PNC. Part of focusing was we're gonna spend more time with our carriers agents, trying to educate them on how we can make them successful. And we've been doing that. And what that's resulting is it's building deeper trust. When they build deeper trust, they go, hey, as opposed to us doing this directly, we'll try this smart campaign. And this is typically how it evolves. They do a test. They often get results that are 10% or 20% better than their own teams, sometimes even higher than that, depending on the internal team. And they end up putting more provider budget with this. And we go to the next carrier and sell the same story. And that's how we've gotten to seven of the top 10 carriers now using it. And we see this, when you think about smart campaigns, why it's so important is not only does it help to get a deeper relationship with more budget, it also gets us more data. And the story of EverQuote is all about how we use data and technology to drive performance, get better results for carriers, better calibrate our traffic operations. So that data, they're not sharing that with everyone. They're sharing that, in some cases, with the only one they're sharing it with. That informs our traffic operation. As it informs our traffic operations, it allows us to be more efficient there, which in turn allows us to drive better performance for them. And that's been the brilliance of smart campaigns. It's helped them, the carriers, grow more successfully. It helped us get more data, help us be more efficient in doing it for them, and drive betterperformance. And I guess the other piece on smart campaigns is we've been doing this for carriers now. We're now rolling out a similar product for agents, smart campaigns for agents. Early days, obviously, it's a somewhat, It's a little bit different product for agents given the user profile. But fundamentally, it's the same thing, which is how do we help agents more precisely calibrate the profile of the consumer they want? And we're excited about that. We talked a little about it in our recent earnings call. And agents are reacting positively to that. They can more dynamically price opportunities for themselves they're looking for. And so we're pleased to bring that to them. And so, but I'd say when you step back from smart campaigns, what's a really big takeaway from it is we've built more trust with carriers, so they'll share more data. If you think about they share more Data, that not only is helping us help them be more successful today, but as the world will evolve with AI, we think that proprietary data advantage will be able to continue to build. And that will position as well as they try to think about how to participate in an AI research world over time. And is that helping your customer service? just not customer service but the customer like how the customers engage when you know there's the when they go in they find a quote and then there's that hand off to the carrier or the agent oh from the from the consumer viewpoint yeah the consumer yeah yeah you know everything you can do to make the flywheel you know move more smoothly it helps so you get more data insights it just makes it that much easier to calibrate your traffic operations make a better consumer workflow that feeds into bringing the right consumers to the right provider at the right time. And so it all feeds into making a more efficient experience that drives performance for carriers, better experience over time for consumers, and obviously forever quote, better financial performance for our shareholders. Got it. And we're coming up to the bottom of the hour here. Just anything you think we've missed or anything you want to tell investors that you think went unnoticed during your earnings call, unnotice just during this conversation, anything you want to get out to people? Yeah, I would say a couple of things for you. So I think what we've tried to show to investors over the past several quarters is, listen to what we say, we tell you what we're going to do and we end up doing. We've done that quarter after quarter and it's been guided by a view of balancing top-line growth and profitability. We expect that continue on our path to a billion. So I'd say you look at what we've said, expect us to continue to do it. Second thing is the concerns about AI search landscape hurting us, I'd say it's quite the opposite. We think insurance is quite different than other verticals, and we actually think it's going to be an opportunity for us, especially as you get into the medium and longer term. And why is that? The third, which is we focus on PNC carriers and agents. We're going deeper. We're getting the data. That data advantage will continue to build upon. So we add that all up. We think we're in a great spot to help carriers and agents grow their business more successfully in this world of, as we go into this future of the world of AI, being more and more helping the industry grow. We think We're in great position to invest, to drive results for shareholders, and we think that'll be great results for us. And in turn, our employees are also shareholders as well, so we think everyone will benefit in this thing. We're excited for the journey ahead. All right. Well, Joe, Sarah, thank you for joining us. You know, you've been one of the best from a financial metrics, one of the best performing stocks in our coverage. So keep up the great work. And you know, if you want a consistent free cash flow compounding story now, take a look at EverQuote and I appreciate your time. Thank you, Jim. From your mouth to our investors ears, we hope they're all rushed to it immediately after this. Thank you. All right. Thanks. Thanks, everybody.