Highest-materiality recent filing
Porch Group Q2 revenue $140.9M (+12% YoY), net income $5.6M, raises guidance
Consolidated revenue $140.9M (+12% YoY); Porch-Owned Segments Revenue $131.8M (+23% YoY).
Porch Group Q1 revenue $109.4M, Adj EBITDA $19.7M; raises full-year guidance
Q1 2026 revenue $109.4M (Porch Shareholder Interest); consolidated revenue $121.1M. Net loss $(4.7)M, Adj EBITDA $19.7M.
Porch Group Q4 beats, Adj EBITDA $23.5M; guides 2026 Adj EBITDA $98-105M
Porch Shareholder Interest Q4 revenue $112.3M; net loss $(3.5)M; Adjusted EBITDA $23.5M.
Porch Group Q3 beats; raises FY 2025 Gross Profit and Adjusted EBITDA guidance
Q3 revenue $115.1M; Adjusted EBITDA $20.6M, up $3.7M YoY, exceeding expectations.
Porch Q2 beats expectations; Adj EBITDA $15.6M, raises FY guidance
Porch Shareholder Interest revenue $107.0M; Adj EBITDA $15.6M (improved $50.4M YoY); Gross Profit $89.2M (+431% YoY).
Porch Group closes $134M convertible note refinancing; retires $144.3M of 2026 notes
Repurchased $144.3M of 0.75% convertible notes due 2026; issued $134.0M of new 9.00% convertible notes due 2030.
Porch Group replaces $144M of 2026 notes with $134M of 9% convertible notes due 2030
Repurchased $144.3M of 0.75% 2026 notes; issued $134.0M of 9.00% convertible unsecured notes due 2030.
Porch Group Q1 beats, raises full-year guidance; Adj. EBITDA $16.9M (up $33.6M YoY)
Porch Shareholder Interest Q1 revenue $84.5M, net income $8.4M, Adj. EBITDA $16.9M vs -$16.8M a year ago.
Porch Group beats Q4 with $30.5M net income, raises 2025 Adj. EBITDA guidance to $60M
Q4 2024 revenue $100.4M (-12% YoY); GAAP net income $30.5M vs. net loss $2.5M a year ago.
Porch Group completes formation of reciprocal exchange, sells HOAIC for ~$105M surplus value
Porch Insurance Reciprocal Exchange formed; HOAIC sold to it for HOAIC's estimated $105M surplus less $58M surplus note.
Porch Group reports Q3 GAAP net income $14.4M; Reciprocal Exchange approved
Total revenue $111.2M (down 14% YoY due to prior year Vesttoo benefit); GAAP net income $14.4M vs loss $5.7M.
TDI approved Porch Insurance Reciprocal Exchange; Porch to contribute $10M cash for surplus note to capitalize the Reciprocal.
Filed updated application with Texas Department of Insurance to form a reciprocal exchange; if approved, HOA would be sold to Reciprocal.
Revenue $115.4M (+32% YoY), driven by Insurance segment premium per policy increases.
Porch Group settles Floify True-Up dispute; sellers pay $860k cash to terminate guarantee
Sellers of Floify agreed to terminate the True-Up Obligation (200% share value guarantee) in full.
Porch Group Q4 revenue $114.6M (+79% YoY); swings to $11.7M Adj. EBITDA vs -$13.3M loss
Revenue $114.6M (+79% YoY); GAAP net loss narrowed to $2.5M from $35.5M in Q4 2022.
Porch Group: Q4 2023 ahead of guidance; repurchases $8M notes at 37.5% discount
Preliminary Q4 2023: Revenue and Adjusted EBITDA expected ahead of prior full-year guidance of $415M and $(52)M.
Porch Group signs strategic agreement with Aon; receives $25M upfront
Porch Group entered a Business Collaboration Agreement with Aon Corp. and Aon Re, Inc., effective through 2028.
Porch Group regains Nasdaq minimum bid price compliance; matter closed
Received Nasdaq letter on Nov 27, 2023 confirming compliance with $1.00 minimum bid rule.
GAAP net loss narrowed to $5.7M from $84.5M YoY; Adj. EBITDA improved to +$8.8M from -$10.9M.
Porch Group receives Nasdaq bid price deficiency notice; 180 days to comply
Nasdaq notified Porch Group on Sept 27, 2023 that its stock closed below $1.00 for 30 consecutive days.
Porch invested $57M cash in HOA, receiving a $49M surplus note and HOA's rights to claims stemming from Vesttoo fraud.
Porch Group's HOA placed under temporary TDI supervision due to Vesttoo fraud
HOA placed under temporary supervision by Texas Department of Insurance on Sept 5, 2023.
Porch Group Q2 revenue up 39% to $98.8M but net loss widens to $87M on weather, impairments
Revenue $98.8M (+39% YoY); Insurance segment $64.3M (+127%), Vertical Software $34.4M (-19%).
Porch Group estimates $18M catastrophic weather loss in Q2 from Texas storms
Preliminary estimate of $18 million loss, net of third-party reinsurance, from June wind, thunderstorm and hail events in Texas.
Porch Group Q1 2023 revenue $87.4M (+37% YoY); net loss $38.7M; Adjusted EBITDA loss in line
Revenue $87.4M, up 37% YoY from $63.6M; GAAP net loss $38.7M vs $9.3M loss prior year.
Issued $333.334M aggregate principal of 6.75% senior secured convertible notes due 2028 at 95% of par.
Porch Group prices $333M 6.75% convertible notes; repurchases $200M of existing 0.75% notes
Aggregate principal $333.334M of 6.75% Senior Secured Convertible Notes due 2028, issued at 95% of par.
Porch Group files application to form reciprocal insurance exchange in Texas
Homeowners of America filed application with Texas Department of Insurance to form a reciprocal exchange.
Porch Group Reports Q4 2022 Revenue of $64.1M, Up 24% YoY, but Net Loss Widens to $35.5M
Revenue grew 24% YoY to $64.1M; net loss widened to $35.5M from $20.1M in Q4 2021.
Porch Group restates Q1-Q3 2022 financials for reinsurance error; net loss revised
Cost of revenue misstated due to quota share reinsurance accounting: Q1 understated $4.0M, Q2 understated $0.7M, Q3 overstated $0.3M.
Porch Group Q3 revenue $75.4M (+20% YoY); net loss $86.4M; cuts 2022 guidance
GAAP net loss $86.4M includes $57.1M goodwill impairment vs $5.1M loss a year ago.
Porch Group appoints Shawn Tabak as CFO, effective Nov 9; Marty Heimbigner transitions
Shawn Tabak becomes CFO effective Nov 9, 2022, replacing Marty Heimbigner who remains in transition through Dec 15.
Q2 revenue $70.8M (+38% YoY); GAAP net loss $26.4M vs $16.3M loss; Adj. EBITDA loss $14.3M (-20.2%).
Porch Group stockholders approve board declassification and supermajority removal
Amendments to declassify board and eliminate supermajority voting approved at June 8, 2022 annual meeting; effective upon filing June 9, 2022.
On November 1, 2022, the Board of Directors of Porch Group, Inc. (the “Company”) approved the appointment of Shawn Tabak as the Chief Financial Officer of the Company, with such appointment to be effective upon the start of his employment, which is expected to commence on November 9, 2022.
Concurrently with Mr. Tabak’s appointment, Marty Heimbigner will step down from the position of Chief Financial Officer of the Company and will continue to serve the Company in a transition capacity, which is scheduled to continue through December 15, 2022 and subject to extension pursuant to that certain Second Amendment to Offer Letter Agreement, dated August 9, 2022.
the Board of Directors (the “Board”) of Porch Group, Inc. (the “Company”) approved the appointment of Amanda Reierson and Camilla Velasquez, effective immediately, to fill vacancies on the Board and to join committees of the Board as noted herein.
the Board of Directors (the “Board”) of Porch Group, Inc. (the “Company”) approved the appointment of Amanda Reierson and Camilla Velasquez, effective immediately, to fill vacancies on the Board and to join committees of the Board as noted herein.
On June 17, 2022, Asha Sharma, a director of Porch Group, Inc. (the “Company”), notified the Company of her decision to resign from the Board of Directors of the Company (the “Board”) and the Board committee on which she serves, in each case effective immediately, in order to devote additional time to her expanding professional responsibilities.
On March 30, 2022, Porch Group, Inc. (the “Company”) announced that it had mutually agreed with Martin Heimbigner, Chief Financial Officer of the Company, to begin a search for Mr. Heimbigner’s successor.
the Board appointed Regi Vengalil, currently Chair of the Mergers and Acquisitions Committee of the Board, as the Company’s Lead Independent Director.
Javier Saade and Chris Terrill each notified the Company of their decision to resign from the Board and the respective committees of the Board on which they serve, effective March 17, 2022.
Javier Saade and Chris Terrill each notified the Company of their decision to resign from the Board and the respective committees of the Board on which they serve, effective March 17, 2022.
the Board of Directors (the “Board”) of Porch Group, Inc. (the “Company”) approved the appointment of Sean Kell, effective March 17, 2022, to fill a vacancy on the Board
the Company’s Board of Directors (the “Board”) approved the appointment of Rachel Lam and Maurice Tulloch, effective immediately, to fill vacancies on the Board.
Margaret Whelan and Thomas D. Hennessy each notified the Company of their decision to resign from the Board
Max materiality 0.90 · Median 0.75 · Most common event other_material