Porch Group Q4 revenue $114.6M (+79% YoY); swings to $11.7M Adj. EBITDA vs -$13.3M loss

Porch Group, Inc.

Revenue $114.6M (+79% YoY); GAAP net loss narrowed to $2.5M from $35.5M in Q4 2022.
Adjusted EBITDA $11.7M, a $25M improvement from -$13.3M loss in Q4 2022.
Insurance segment: gross written premium $112M, ~310k policies; gross loss ratio 36%, combined 49%.
Cash and investments $397.6M at year-end; approved in 13 states to use property data in pricing.
Launched new SaaS products: title software, HVAC micro-warranty, back office software for inspectors.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Porch Group, Inc. reported fourth quarter ended December 31, 2023 results: revenue $114.6 million, net income GAAP net loss of $2.5 million.

Period: fourth quarter ended December 31, 2023
Revenue: $114.6 million
Net income: GAAP net loss of $2.5 million
Result: reported results

Exact text from the filing

or “the Company”) (NASDAQ: PRCH), a homeowners insurance and vertical software platform, today reported fourth quarter results ended December 31, 2023, with total revenue of $114.6 million, which increased 79% compared to the prior year. GAAP net loss of $2.5 million, an improvement from $35.5 million GAAP net loss in the prior year and Adjusted EBI TDA of $11.7

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Source: SEC EDGAR

accession 0001784535-24-000015

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