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Porch Group, Inc. develops and sells software and data solutions, manages insurance services, and provides consumer services related to homeownership in the United States. It operates through four segments: Insurance Services, Software & Data, Consumer Services, and the Reciprocal Segment. The Insurance Services segment manages and operates Porch Reciprocal Exchange, providing services including underwriting, policy renewal, risk management, portfolio management, financial oversight, and investment guideline setting. The Software & Data segment offers subscription and transactional software for inspection, mortgage, title, and roofing companies, as well as data products for insurance and other companies, including home inspection software, title and mortgage software, home factors property insights, and mover marketing products; measurement software for roofers; and move and post-move services. The Consumer Services segment provides warranty products under Porch Warranty and other brands, and moving-related services such as moving labor, TV/Internet, and security setup. The Reciprocal Segment, managed but not owned by Porch, includes Homeowners of America and Porch Reciprocal Exchange, which provides consumers with insurance to protect their homes, through premiums collected on policies. The company was founded in 2011 and is headquartered in Seattle, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $510M | $81M | $-3M | $52M | -15.0% | 11.3% | - |
| 2024 | $458M | $18M | $-33M | $-44M | 75.9% | 5.6% | - |
| 2023 | $434M | $-89M | $-134M | $24M | 375.3% | 57.2% | - |
| 2022 | $276M | $-119M | $-157M | $-28M | -197.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 275.95 | 433.88 | 458.11 | 509.71 |
| Cost Of Revenue | 107.58 | 220.24 | 225.63 | 0 |
| Gross Profit | 168.37 | 210.06 | 212.22 | 0 |
| Operating Expense | 284.03 | 343.18 | 276.79 | 0 |
| Operating Income | -115.66 | -133.12 | -64.57 | 0 |
| EBITDA | -119.06 | -89.19 | 18.27 | 80.72 |
| EBIT | -146.99 | -113.60 | -7.26 | 56.25 |
| Pretax Income | -155.72 | -133.31 | -30.71 | 26.73 |
| Tax Provision | 0.84 | 0.62 | 2.12 | 11.42 |
| Net Income | -156.56 | -133.93 | -32.83 | -3.36 |
| Net Income Common Stockholders | -156.56 | -133.93 | -32.83 | -3.36 |
| Total Expenses | 391.61 | 567.19 | 488.82 | 482.97 |
| Interest Expense | 8.72 | 19.71 | 23.45 | 29.51 |
| Interest Income | 0.72 | 3.90 | 1.75 | 1.65 |
| Research And Development | 59.56 | 58.50 | 55.27 | 0 |
| Selling General And Administration | 223.66 | 245.38 | 218.12 | 244.78 |
| Normalized EBITDA | -87.16 | -113.35 | -18.77 | 80.32 |
| Normalized Income | -131.35 | -153.02 | -62.09 | -3.67 |
| Basic EPS | -1.61 | -1.39 | -0.32 | 0 |
| Diluted EPS | -1.61 | -1.39 | -0.32 | 0 |
| Tax Effect Of Unusual Items | -6.70 | 5.07 | 7.78 | 0.08 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -31.90 | 24.17 | 37.03 | 0.40 |
| Total Unusual Items Excluding Goodwill | -31.90 | 24.17 | 37.03 | 0.40 |
| Net Income From Continuing Operation Net Minority Interest | -156.56 | -133.93 | -32.83 | -3.36 |
| Reconciled Depreciation | 27.93 | 24.41 | 25.52 | 24.47 |
| Reconciled Cost Of Revenue | 107.58 | 220.24 | 225.63 | 0 |
| Net Interest Income | -8.01 | -27.93 | -40.79 | -49.92 |
| Net Income From Continuing And Discontinued Operation | -156.56 | -133.93 | -32.83 | -3.36 |
| Total Operating Income As Reported | -177.05 | -190.35 | -64.57 | 0 |
| Diluted Average Shares | 97.35 | 96.06 | 101.46 | 0 |
| Basic Average Shares | 97.35 | 96.06 | 101.46 | 0 |
| Diluted NI Availto Com Stockholders | -156.56 | -133.93 | -32.83 | -3.36 |
| Average Dilution Earnings | 0 | 0 | 0 | 0 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 0 |
| Minority Interests | 0 | 0 | 0 | -18.68 |
| Net Income Including Noncontrolling Interests | -156.56 | -133.93 | -32.83 | 15.32 |
| Net Income Continuous Operations | -156.56 | -133.93 | -32.83 | 15.32 |
| Other Income Expense | -32.05 | 430.30 | 437.85 | 482.41 |
| Other Non Operating Income Expenses | -0.15 | 0 | 1.66 | 0 |
| Special Income Charges | -47.56 | 24.17 | 37.03 | 0.40 |
| Gain On Sale Of Business | 0 | 0 | -5.33 | 0 |
| Other Special Charges | 0 | -81.35 | -22.11 | -0.40 |
| Impairment Of Capital Assets | 61.39 | 57.23 | 0 | 0 |
| Restructuring And Mergern Acquisition | -13.82 | -0.04 | -14.93 | 0 |
| Gain On Sale Of Security | 15.66 | 3.58 | 20.26 | 0 |
| Net Non Operating Interest Income Expense | -8.01 | -27.93 | -40.79 | -49.92 |
| Total Other Finance Cost | 0 | 12.12 | 19.08 | 22.06 |
| Interest Expense Non Operating | 8.72 | 19.71 | 23.45 | 29.51 |
| Interest Income Non Operating | 0.72 | 3.90 | 1.75 | 1.65 |
| Other Operating Expenses | 0 | 88.64 | 46.71 | 57.04 |
| Provision For Doubtful Accounts | 0.81 | 37.18 | 0.24 | 0 |
| Selling And Marketing Expense | 113.85 | 144.30 | 122.87 | 139.58 |
| General And Administrative Expense | 109.81 | 101.08 | 95.25 | 105.20 |
| Other Gand A | 109.81 | 101.08 | 95.25 | 105.20 |
| Operating Revenue | 275.95 | 433.88 | 458.11 | 509.71 |
| Loss Adjustment Expense | 0 | 229.41 | 220.23 | 131.63 |
| Net Policyholder Benefits And Claims | 0 | 229.41 | 220.23 | 131.63 |
| Policyholder Benefits Gross | 0 | 229.41 | 235.92 | 142.42 |
| Policyholder Benefits Ceded | 0 | 0 | 15.69 | 10.80 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Porch Group, Inc.this co. | PRCH | $1.1B | - | -43.48 | -15.0% | 19.23 |
| Coastal Financial Corporation | CCB | $1.2B | 23.59 | 2.33 | 9.6% | - |
| First Mid Bancshares, Inc. | FMBH | $1.1B | 11.23 | 1.08 | 9.6% | - |
| Atlanticus Holdings Corporation | ATLC | $1.1B | 12.87 | 1.88 | 20.2% | - |
| Safety Insurance Group, Inc. | SAFT | $1.1B | 11.25 |
| 1.25 |
| 11.1% |
| - |
| Metropolitan Bank Holding Corp. | MCB | $1.1B | 10.96 | 1.20 | 9.6% | - |
| Universal Insurance Holdings, Inc. | UVE | $1.1B | 5.80 | 1.99 | 33.2% | 2.18 |
| OceanFirst Financial Corp. | OCFC | $1.1B | 16.00 | 0.65 | 4.3% | - |
| Old Second Bancorp, Inc. | OSBC | $1.1B | 12.28 | 1.20 | 9.0% | - |
| Peer Median | - | 11.77 | 1.23 | 9.6% | 2.18 | |