---
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"
generated_at: "2026-06-15T06:49:48.709302+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Porch Group Q1 2023 revenue $87.4M (+37% YoY); net loss $38.7M; Adjusted EBITDA loss in line

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-009146
- JSON: https://secwatch.observer/filing/0001558370-23-009146.json
- Plain text: https://secwatch.observer/filing/0001558370-23-009146.txt

## Key facts
- Earnings Releases
  Porch Group, Inc. reported the quarter ended March 31, 2023 results: revenue $87.4 million, net income $38.7 million.
  - Period: the quarter ended March 31, 2023
  - Revenue: $87.4 million
  - Net income: $38.7 million
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1784535/000155837023009146/0001558370-23-009146-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.