Porch Group Inc
NASDAQ:PRCH
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Porch Group Inc
Porch Group, Inc. engages in the development and operation of a vertical software platform. The company is headquartered in Seattle, Washington and currently employs 1,700 full-time employees. The company went IPO on 2019-11-26. The firm provides software and services to several home service industries, including home inspectors, moving companies, utility companies, home insurance, warranty companies, and others. Porch offers a Moving Concierge service that home services companies can provide to their end customers in order to improve the moving and home improvement experience. The company also offers home service companies to grow their business through new customer acquisition. The firm offers a range of services to homebuyers, including insurance, moving, security, television or Internet, home repair and improvement, and more. The firm operates under a number of brands, such as Inspection Support LLC (ISN), Porch’s enterprise resource planning (ERP) and customer relationship management (CRM) software, HireAHelper, where it provides software and demand for moving companies.
Porch Group, Inc. engages in the development and operation of a vertical software platform. The company is headquartered in Seattle, Washington and currently employs 1,700 full-time employees. The company went IPO on 2019-11-26. The firm provides software and services to several home service industries, including home inspectors, moving companies, utility companies, home insurance, warranty companies, and others. Porch offers a Moving Concierge service that home services companies can provide to their end customers in order to improve the moving and home improvement experience. The company also offers home service companies to grow their business through new customer acquisition. The firm offers a range of services to homebuyers, including insurance, moving, security, television or Internet, home repair and improvement, and more. The firm operates under a number of brands, such as Inspection Support LLC (ISN), Porch’s enterprise resource planning (ERP) and customer relationship management (CRM) software, HireAHelper, where it provides software and demand for moving companies.
Profitability Beat: Porch Group delivered Q3 adjusted EBITDA of $21 million and cash flow from operations of $29 million, both exceeding expectations.
Surpassed Full-Year Target: Year-to-date adjusted EBITDA reached $53.1 million, surpassing the initial $50 million full-year target with guidance raised to $70 million for 2025.
Strong Margins: Gross margin in Q3 was 82%, with the Insurance Services segment at 84%.
Insurance Segment Strength: Reciprocal written premium (RWP) was $138 million, up 14% quarter-over-quarter, and conversion rates to adjusted EBITDA improved to 18%.
Capital Position: Reciprocal surplus plus non-admitted assets grew by $113 million in Q3 to $412 million, supporting future premium growth.
Guidance Raised: Gross profit guidance midpoint was raised by $2.5 million to a new range of $335–340 million; revenue guidance range tightened to $410–420 million.
Insurance Market Strategy: Management is prioritizing surplus generation over rapid premium growth to maximize long-term shareholder value.
Continued Investment: Ongoing investments in data, AI, and agent recruitment position the company for future expansion and margin advantages.
