{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-23-009146","form_type":"8-K","ticker":"PRCH","cik":"0001784535","company_name":"Porch Group, Inc.","filed_at":"2023-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.557789+00:00","generated_at":"2026-06-15T06:49:48.709302+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Porch Group Q1 2023 revenue $87.4M (+37% YoY); net loss $38.7M; Adjusted EBITDA loss in line","bullets":["Revenue $87.4M, up 37% YoY from $63.6M; GAAP net loss $38.7M vs $9.3M loss prior year.","Insurance segment revenue $58.7M (+101% YoY); vertical software revenue $28.6M (-17% YoY).","Adjusted EBITDA loss $21.9M in line; company expects Adjusted EBITDA profitability in H2 2023.","Raised $333M via convertible note; filed application to form Porch Insurance Reciprocal Exchange.","Ended Q1 with $272M unrestricted cash plus investments."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-23-009146","json":"https://secwatch.observer/filing/0001558370-23-009146.json","markdown":"https://secwatch.observer/filing/0001558370-23-009146.md","text":"https://secwatch.observer/filing/0001558370-23-009146.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1784535/000155837023009146/0001558370-23-009146-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1784535/000155837023009146/prch-20230510x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T06:49:48.709302+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"dc1af1512fcd00757ddc1fd8af2d79916949cfe3","claim":"Porch Group, Inc. reported the quarter ended March 31, 2023 results: revenue $87.4 million, net income $38.7 million.","evidence_excerpt":"First Quarter 2023 Financial Results ● Total revenue of $87.4 million, an increase of 37% or $23.8 million (first quarter of 2022: $63.6 million). ● Revenue less cost of revenue of $36.1 million, or 41% of total revenue (first quarter 2022: $38.4 million, 60% of total revenue). As expected, reinsurance markets have hardened, which resulted in a reduction in Revenue less cost of revenue by approximately $15 million in the first quarter of 2023 compared to the same quarter prior year. ● GAAP net loss of $38.7 million, compared to $9.3 million for the first quarter of 2022, and was similarly impacted by the hardened reinsurance markets.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1784535/000155837023009146/0001558370-23-009146-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended March 31, 2023"},{"label":"Revenue","value":"$87.4 million"},{"label":"Net income","value":"$38.7 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}