8-K filed August 16, 2021, 7:59 PM ET ticker PRCH CIK 0001784535

earnings confidence high sentiment positive materiality 0.80

Porch Group Q2 revenue $51.3M (+200% YoY); raises FY guidance to $184M; appoints two directors

Porch Group, Inc.

2021-Q2 EPS reported -$0.89 revenue$78,083,000

Q2 2021 revenue $51.3M, up 200% YoY; GAAP net loss $16.3M; Adj. EBITDA loss $10.3M (-20% of revenue).
Increased FY2021 revenue guidance to $184M (155% YoY); tightened Adj. EBITDA margin guidance to -13% to -16%.
Acquired Rynoh in Q2 for $31.5M cash; Rynoh contributed $1.3M revenue in Q2 and expected $8M full-year.
Appointed Rachel Lam and Maurice Tulloch as independent directors; Thomas Hennessy and Margaret Whelan resigned from board.
KPI: avg. companies 17,120 (+63% YoY); avg. revenue per company $999.70/month (+80% YoY).

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Rachel Lam

Director

PRCH · Porch Group, Inc.

Effective: 2021-08-12
Filed: August 16, 2021, 7:59 PM ET

the Company’s Board of Directors (the “Board”) approved the appointment of Rachel Lam and Maurice Tulloch, effective immediately, to fill vacancies on the Board.

Departed

Thomas D. Hennessy

Director

PRCH · Porch Group, Inc.

Effective: 2021-08-12
Filed: August 16, 2021, 7:59 PM ET

Margaret Whelan and Thomas D. Hennessy each notified the Company of their decision to resign from the Board

Departed

Margaret Whelan

Director

PRCH · Porch Group, Inc.

Effective: 2021-08-12
Filed: August 16, 2021, 7:59 PM ET

Margaret Whelan and Thomas D. Hennessy each notified the Company of their decision to resign from the Board

Appointed

Maurice Tulloch

Director

PRCH · Porch Group, Inc.

Effective: 2021-08-12
Filed: August 16, 2021, 7:59 PM ET

the Company’s Board of Directors (the “Board”) approved the appointment of Rachel Lam and Maurice Tulloch, effective immediately, to fill vacancies on the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Rachel Lam was appointed as Director at Porch Group, Inc..

Action: appointed
Role: Director

Exact text from the filing

the Company’s Board of Directors (the “Board”) approved the appointment of Rachel Lam and Maurice Tulloch, effective immediately, to fill vacancies on the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas D. Hennessy resigned as Director at Porch Group, Inc..

Action: resigned
Role: Director

Exact text from the filing

Margaret Whelan and Thomas D. Hennessy each notified the Company of their decision to resign from the Board

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Margaret Whelan resigned as Director at Porch Group, Inc..

Action: resigned
Role: Director

Exact text from the filing

Margaret Whelan and Thomas D. Hennessy each notified the Company of their decision to resign from the Board

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Maurice Tulloch was appointed as Director at Porch Group, Inc..

Action: appointed
Role: Director

Exact text from the filing

the Company’s Board of Directors (the “Board”) approved the appointment of Rachel Lam and Maurice Tulloch, effective immediately, to fill vacancies on the Board.

View on SEC.gov

Porch Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-21-106325

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