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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 | 13.7% | 11.3% | -89.8% |
| 2024 | $458M | $18M | $-33M | $-44M | 75.9% | 5.6% | -75.5% |
| 2023 | $434M | $-89M | $-134M | $24M | 375.3% | 57.2% | -14.5% |
| 2022 | $276M | $-119M | $-157M | $-28M | -197.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 275.95 | 433.88 | 458.10 | 509.71 |
| Operating Revenue | - | 275.95 | 433.88 | 458.10 | 509.71 |
| Cost Of Revenue | 58.72 | 107.58 | 220.24 | 225.63 | - |
| Gross Profit | 133.71 | 168.37 | 210.06 | 212.22 | - |
| Operating Expense | 217.07 | 284.03 | 343.18 | 276.79 | - |
| Research And Development | 47 | 59.56 | 58.50 | 55.27 | - |
| Selling General And Administration | - | 223.66 | 245.38 | 218.12 | 244.78 |
| Total Expenses | - | 391.61 | 567.19 | 488.82 | 482.97 |
| Operating Income | -83.36 | -115.66 | -133.12 | -64.57 | - |
| Total Operating Income As Reported | -83.36 | -177.05 | -190.35 | -64.57 | - |
| EBITDA | - | -119.06 | -89.19 | 18.26 | 80.72 |
| Normalized EBITDA | - | -87.16 | -113.35 | -18.77 | 80.32 |
| EBIT | - | -146.99 | -113.60 | -7.26 | 56.25 |
| Interest Income | - | 0.72 | 3.90 | 1.75 | 1.65 |
| Interest Expense | - | 8.72 | 19.71 | 23.46 | 29.51 |
| Net Interest Income | - | -8.01 | -27.93 | -40.79 | -49.92 |
| Other Non Operating Income Expenses | 0.13 | -0.15 | 0 | 1.66 | - |
| Other Income Expense | - | -32.05 | 430.30 | 437.85 | 482.41 |
| Interest Income Non Operating | - | 0.72 | 3.90 | 1.75 | 1.65 |
| Interest Expense Non Operating | - | 8.72 | 19.71 | 23.46 | 29.51 |
| Net Non Operating Interest Income Expense | - | -8.01 | -27.93 | -40.79 | -49.92 |
| Pretax Income | - | -155.72 | -133.31 | -30.71 | 26.74 |
| Tax Provision | - | 0.84 | 0.62 | 2.12 | 11.42 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -6.70 | 5.07 | 7.78 | 0.08 |
| Net Income Continuous Operations | - | -156.56 | -133.93 | -32.83 | 15.32 |
| Net Income From Continuing And Discontinued Operation | - | -156.56 | -133.93 | -32.83 | -3.36 |
| Net Income From Continuing Operation Net Minority Interest | - | -156.56 | -133.93 | -32.83 | -3.36 |
| Net Income | - | -156.56 | -133.93 | -32.83 | -3.36 |
| Net Income Common Stockholders | - | -156.56 | -133.93 | -32.83 | -3.36 |
| Net Income Including Noncontrolling Interests | - | -156.56 | -133.93 | -32.83 | 15.32 |
| Normalized Income | - | -131.35 | -153.02 | -62.09 | -3.67 |
| Diluted NI Availto Com Stockholders | - | -156.56 | -133.93 | -32.83 | -3.36 |
| Basic Average Shares | - | 97.35 | 96.06 | 101.46 | 103.69 |
| Diluted Average Shares | - | 97.35 | 96.06 | 101.46 | 103.69 |
| Reconciled Depreciation | - | 27.93 | 24.42 | 25.52 | 24.47 |
| Reconciled Cost Of Revenue | 58.72 | 107.58 | 220.24 | 225.63 | - |
| Total Unusual Items | - | -31.90 | 24.17 | 37.03 | 0.40 |
| Total Unusual Items Excluding Goodwill | - | -31.90 | 24.17 | 37.03 | 0.40 |
| Minority Interests | - | - | - | 0 | -18.68 |
| Special Income Charges | - | -47.56 | 24.17 | 37.03 | 0.40 |
| Gain On Sale Of Business | 0 | 0 | 0 | -5.33 | - |
| Other Special Charges | -5.28 | - | -81.35 | -22.10 | -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 | -14.69 | 15.66 | 3.58 | 20.26 | - |
| General And Administrative Expense | - | 109.81 | 101.08 | 95.25 | 105.20 |
| Other Gand A | - | 109.81 | 101.08 | 95.25 | 105.20 |
| Total Other Finance Cost | - | - | 12.12 | 19.08 | 22.06 |
| Other Operating Expenses | - | - | 88.64 | 46.71 | 57.04 |
| Provision For Doubtful Accounts | 1.06 | 0.80 | 37.18 | 0.24 | - |
| Selling And Marketing Expense | - | 113.85 | 144.30 | 122.87 | 139.58 |
| Otherunder Preferred Stock Dividend | 0 | 0 | - | - | - |
| Average Dilution Earnings | 0 | 0 | - | - | - |
| Loss Adjustment Expense | - | - | 229.41 | 220.23 | 131.63 |
| Net Policyholder Benefits And Claims | - | - | 229.41 | 220.23 | 131.63 |
| Policyholder Benefits Gross | - | - | 229.41 | 235.92 | 142.42 |
| Policyholder Benefits Ceded | - | - | 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 | -314.12 | -42.88 | 13.7% | 15.96 |
| Metropolitan Bank Holding Corp. | MCB | $1.1B | 15.75 | 1.51 | 9.6% | - |
| Old Second Bancorp, Inc. | OSBC | $1.1B | 13.72 | 1.23 | 9.0% | - |
| Coastal Financial Corporation | CCB | $1.1B | 22.81 | 2.18 | 9.6% | - |
| HBT Financial, Inc. | HBT | $1.0B | 13.54 |
| - |
| - |
| - |
| - |
| - |
| 1.69 |
| 12.5% |
| - |
| Northeast Bank | NBN | $1.0B | 12.39 | 2.09 | 16.9% | - |
| OceanFirst Financial Corp. | OCFC | $1.0B | 14.45 | 0.62 | 4.3% | - |
| Safety Insurance Group, Inc. | SAFT | $1.0B | 10.16 | 1.12 | 11.1% | - |
| Virtus Investment Partners, Inc. | VRTS | $995M | 7.19 | 1.06 | 14.8% | 8.13 |
| Peer Median | - | 13.63 | 1.37 | 10.3% | 8.13 | |