Porch Group Q3 revenue $75.4M (+20% YoY); net loss $86.4M; cuts 2022 guidance

Porch Group, Inc.

2022-Q3 EPS reported -$1.22 revenue$211,835,000

GAAP net loss $86.4M includes $57.1M goodwill impairment vs $5.1M loss a year ago.
Adjusted EBITDA loss $13.0M (-17.2% of revenue) vs $0.9M profit in Q3 2021.
2022 revenue guidance lowered to ~$275M from ~$290M; adj. EBITDA now ~-17% vs prior ~-10%.
Insurance revenue $30.9M with $157M gross written premium; cost of revenue hurt by Hurricane Ian.
Board authorized up to $15M repurchase of common stock or convertible notes through June 30, 2023.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Porch Group, Inc. reported quarter ended September 30, 2022 results: revenue $75.4 million, net income $86.4 million net loss.

Period: quarter ended September 30, 2022
Revenue: $75.4 million
Net income: $86.4 million net loss
Result: reported results

Exact text from the filing

99.1 to this Current Report on Form 8-K and is incorporated herein by reference. --- EX-99.1 (EX-99.1) --- Porch Group Reports Third Quarter 2022 Results - Reports $75.4 Million of Revenue, up 20% Year-Over-Year - Announces Authorization of Up to $15 Million Repurchase Program - Provides Updated 2022 Guidance; Reflecting Weather and Housing Market

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Source: SEC EDGAR

accession 0001558370-22-016882

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