Porch Group beats Q4 with $30.5M net income, raises 2025 Adj. EBITDA guidance to $60M

Porch Group, Inc.

2024-FY EPS reported -$0.33 revenue$437,848,000

Q4 2024 revenue $100.4M (-12% YoY); GAAP net income $30.5M vs. net loss $2.5M a year ago.
Adjusted EBITDA $41.8M, up $30.1M YoY, beating expectations and marking record quarterly Adj. EBITDA.
Insurance segment: 206K policies in force, gross loss ratio improved to 21% (from 36%); premium per policy +31%.
Formed Porch Insurance Reciprocal Exchange in Jan 2025; sold insurance carrier into PIRE, holds $106M surplus notes at 9.75%+SOFR.
2025 Adj. EBITDA guidance raised to ~$60M midpoint; Q1 2025 new business premiums double vs. prior year.

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