secwatch.observer — SEC 8-K summary
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Issuer:     Porch Group, Inc. (PRCH)
CIK:        0001784535
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0001558370-22-016882
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1784535/000155837022016882/0001558370-22-016882-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1784535/000155837022016882/prch-20221108x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-016882

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer