Porch Group, Inc. operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, and TV/internet providers, as well as offers moving concierge services. It also connects consumers with home services companies and offers a full range of products and services where homeowners compare and buy home insurance policies; arrange for various services in connection with their move, from labor to load or unload a truck to full-service, long-distance moving services; discover and install home automation and security systems; compare internet and television options for their home; book small handyman jobs at fixed, upfront prices; and compare bids from home improvement professionals who can complete bigger jobs. In addition, the company provides property and casualty, home, auto, flood, and umbrella insurance products; and contractor services. The company was founded in 2011 and is based in Seattle, Washington.
IPO Year: 2020
Exchange: NASDAQ
Website: porchgroup.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/26/2025 | $6.00 | Hold → Buy | Loop Capital |
| 12/9/2024 | $6.00 | Hold | Loop Capital |
| 3/15/2023 | $4.00 → $2.00 | Buy → Hold | Loop Capital |
| 11/9/2022 | Overweight → Neutral | JP Morgan | |
| 8/10/2022 | $10.00 → $8.00 | Overweight | Cantor Fitzgerald |
| 7/25/2022 | $5.25 → $3.25 | Outperform → Mkt Perform | Keefe Bruyette |
| 5/25/2022 | $11.50 | Buy | Compass Point |
| 5/23/2022 | $8.00 | Overweight | JP Morgan |
| 3/10/2022 | $26.00 → $23.00 | Overweight | Stephens & Co. |
| 3/2/2022 | $16.00 → $22.00 | Buy | Loop Capital |
Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced the continued outstanding performance of Homeowners of America Insurance Company ("HOA"), per the AM Best Market Share Report1, as well as continued exceptional loss ratio performance at HOA and the Porch Reciprocal Exchange in Q1 2025. In 2024, the final year of Porch's ownership of HOA, the carrier was ranked number 1 in Texas for Direct Combined Ratio2 performance among homeowners insurance carrier peers. Additionally, HOA ranked third nationally, its best ever performance. Porch's underwriting strength reflects Porch's unique data advantage including insights into 90
Exceeds Expectations and Increases Guidance Driven by Insurance Services Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today reported first quarter results through March 31, 2025, that exceeded expectations and correspondingly raised 2025 guidance. Porch generated for shareholders1 first quarter 2025 revenue of $84.5 million. Net income attributable to Porch was $8.4 million, and Adjusted EBITDA was $16.9 million, an increase of $33.6 million compared to prior year2. On January 2, 2025, the Porch Reciprocal Exchange ("Reciprocal") was formed as an insurance entity owned by its policyholder-members and not by Porch. Simultane
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced it will report financial results for the first quarter ended March 31, 2025, after markets close on Tuesday, May 6, 2025. Q1'25 Earnings Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Tuesday, May 6, 2025, at 5:00 p.m. Eastern (2:00 p.m. Pacific). A presentation to accompany the discussion will be posted on the company website, along with a press release and other supplemental financial information. All are invited to listen to the event by registering for the webinar here. A webi
Exceeds expectations delivering Q4'24 Net Income of $30m and Adjusted EBITDA of $42m Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported fourth quarter results through December 31, 2024, with total revenue of $100.4 million. GAAP net income was $30.5 million, an improvement of $33.0 million compared to the prior year, and Adjusted EBITDA was $41.8 million, an improvement of $30.1 million compared to the prior year. CEO Summary "We had a strong finish to the year, and delivered our full year positive Adjusted EBITDA target. We delivered record quarterly Adjusted EBITDA in Q4 2024, which we believe marks
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the fourth quarter ended December 31, 2024, after markets close on Tuesday, February 25, 2025. Q4'24 Earnings Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Tuesday, February 25, 2025, at 5:00 p.m. Eastern (2:00 p.m. Pacific). A presentation to accompany the discussion will be posted on the company website, along with a press release and other supplemental financial information. All are invited to listen to the event by registerin
Application for Reciprocal Exchange Approved Strong Operational Performance Delivers Record Profitability Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported third quarter results through September 30, 2024, with total revenue of $111.2 million. GAAP net income was $14.4 million, an improvement of $20.1 million compared to the prior year, and Adjusted EBITDA was $16.9 million, an improvement of $8.1 million compared to the prior year. CEO Summary "We are excited by today's update: the important approval of the Reciprocal Exchange formation, record profitability, and de-leveraging. The Reciprocal approval
Investor Day Will Be Scheduled In Early December, 2024 Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the third quarter ended September 30, 2024, after markets close on Thursday, November 7, 2024 and plans to host an Investor Day in early December. Q3'24 Earnings Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Thursday, November 7, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the company website, along with
Solid performance in the second quarter Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported second quarter results through June 30, 2024, with total revenue of $110.8 million, which increased 12% compared to the prior year. GAAP net loss was $64.3 million, an improvement of $22.6 million compared to the prior year, and Adjusted EBITDA Loss was $34.8 million, an improvement of $8.4 million compared to the prior year. CEO Summary "The team delivered a solid performance this quarter. Despite a May hurricane-like event in Houston with 100 miles per hour sustained winds that caused catastrophic weather clai
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the second quarter ended June 30, 2024, after markets close on Tuesday, August 6, 2024. Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Tuesday, August 6, 2024, at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A presentation to accompany the discussion will be posted on the company website, along with a press release and other supplemental financial information. All are invited to listen to the event by registering for the webin
Strong operating execution in Q1, increasing full year Adjusted EBITDA Guidance Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported first quarter results through March 31, 2024, with total revenue of $115.4 million, which increased 32% compared to the prior year. GAAP net loss was $13.4 million, an improvement of $25.4 million compared to the prior year, and Adjusted EBITDA Loss was $16.8 million, an improvement of $5.1 million compared to the prior year. CEO Summary "We are pleased with the results we delivered in the first quarter, with revenue growth of 32% and the year-over-year improvement in prof
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Well positioned to address remaining $29 million of the 2026 notes with balance sheet cash and proceeds from the transaction Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced the completion of its previously announced refinancing transactions (the "Refinancing Transactions"), retiring all but approximately $29 million of the Company's outstanding 0.75% Convertible Senior Unsecured Notes due 2026 (the "2026 Notes"). In addition, the Company announced that the board of directors has authorized management to repurchase up to the remaining $29 million of 2026 Notes in cash from time to time in the open market
Reduces 2026 Debt Maturity to $29 Million Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced a delevering transaction with the privately negotiated repurchase of $144.3 million aggregate principal amount of its 0.75% Convertible Senior Notes due 2026 (the "2026 Notes") and the concurrent pricing of a private offering of $134.0 million aggregate principal amount of newly issued 9.00% Convertible Senior Unsecured Notes due 2030 of the Company (the "2030 Notes"). These refinancing transactions (the "Refinancing Transactions") are expected to close on May 27, 2025, subject to customary closing conditions. The
Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced the continued outstanding performance of Homeowners of America Insurance Company ("HOA"), per the AM Best Market Share Report1, as well as continued exceptional loss ratio performance at HOA and the Porch Reciprocal Exchange in Q1 2025. In 2024, the final year of Porch's ownership of HOA, the carrier was ranked number 1 in Texas for Direct Combined Ratio2 performance among homeowners insurance carrier peers. Additionally, HOA ranked third nationally, its best ever performance. Porch's underwriting strength reflects Porch's unique data advantage including insights into 90
Porch Group, Inc. ("Porch") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced its upcoming investor event attendance. Porch Management will be attending and participating in one-on-one and group investor meetings at these upcoming events: May 8, 2025: Needham Technology, Media & Consumer Conference (Virtual) May 14, 2025: Oppenheimer Non-Deal Roadshow (Toronto) May 15, 2025: Craig-Hallum Non-Deal Roadshow (Virtual) May 16, 2025: Benchmark Fireside Chat (Virtual) May 20, 2025: KBW Real Estate Finance & Technology Conference (Virtual) May 21, 2025: B Riley Securities Annual Investor Conference (Los Angeles) May 28, 2025: Craig-Hallum Institutional Inves
Exceeds Expectations and Increases Guidance Driven by Insurance Services Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today reported first quarter results through March 31, 2025, that exceeded expectations and correspondingly raised 2025 guidance. Porch generated for shareholders1 first quarter 2025 revenue of $84.5 million. Net income attributable to Porch was $8.4 million, and Adjusted EBITDA was $16.9 million, an increase of $33.6 million compared to prior year2. On January 2, 2025, the Porch Reciprocal Exchange ("Reciprocal") was formed as an insurance entity owned by its policyholder-members and not by Porch. Simultane
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced it will report financial results for the first quarter ended March 31, 2025, after markets close on Tuesday, May 6, 2025. Q1'25 Earnings Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Tuesday, May 6, 2025, at 5:00 p.m. Eastern (2:00 p.m. Pacific). A presentation to accompany the discussion will be posted on the company website, along with a press release and other supplemental financial information. All are invited to listen to the event by registering for the webinar here. A webi
Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced the addition of four seasoned insurance industry leaders to its team to strengthen the organization across strategy, sales, reinsurance, underwriting and risk management, as it enters a new phase of expected growth. Meet the New Hires Eric Lemieur (Head of Insurance Sales & Distribution): Eric is a sales, strategy, and operations executive with deep expertise in both exclusive and independent agent distribution channels. His experience will be instrumental in driving the high-performing sales team and strengthening third-party agency relationships as Porch focuses on pre
Porch Group, Inc. ("Porch") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced its upcoming investor event attendance. Porch Management will be attending and participating in one-on-one and group investor meetings at these upcoming events: February 26, 2025: Oppenheimer Emerging Growth Conference (Virtual) March 11, 2025: Loop Annual Investor Conference (New York) March 12, 2025: Cantor Technology Conference (New York) March 13, 2025: Benchmark Non-Deal Roadshow (San Francisco) March 17, 2025: Roth Annual Conference (California) March 18-19, 2025: Stephens Non-Deal Roadshow (Boston and Chicago) March 20, 2025: Craig-Hallum Non-Deal Roadshow (Mi
Exceeds expectations delivering Q4'24 Net Income of $30m and Adjusted EBITDA of $42m Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today reported fourth quarter results through December 31, 2024, with total revenue of $100.4 million. GAAP net income was $30.5 million, an improvement of $33.0 million compared to the prior year, and Adjusted EBITDA was $41.8 million, an improvement of $30.1 million compared to the prior year. CEO Summary "We had a strong finish to the year, and delivered our full year positive Adjusted EBITDA target. We delivered record quarterly Adjusted EBITDA in Q4 2024, which we believe marks
Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a homeowners insurance and vertical software platform, today announced it will report financial results for the fourth quarter ended December 31, 2024, after markets close on Tuesday, February 25, 2025. Q4'24 Earnings Conference Call Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Tuesday, February 25, 2025, at 5:00 p.m. Eastern (2:00 p.m. Pacific). A presentation to accompany the discussion will be posted on the company website, along with a press release and other supplemental financial information. All are invited to listen to the event by registerin
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Loop Capital upgraded Porch Group from Hold to Buy and set a new price target of $6.00
Loop Capital resumed coverage of Porch Group with a rating of Hold and set a new price target of $6.00
Loop Capital downgraded Porch Group from Buy to Hold and set a new price target of $2.00 from $4.00 previously
JP Morgan downgraded Porch Group from Overweight to Neutral
Cantor Fitzgerald resumed coverage of Porch Group with a rating of Overweight and set a new price target of $8.00 from $10.00 previously
Keefe Bruyette downgraded Porch Group from Outperform to Mkt Perform and set a new price target of $3.25 from $5.25 previously
Compass Point initiated coverage of Porch Group with a rating of Buy and set a new price target of $11.50
JP Morgan initiated coverage of Porch Group with a rating of Overweight and set a new price target of $8.00
Stephens & Co. reiterated coverage of Porch Group with a rating of Overweight and set a new price target of $23.00 from $26.00 previously
Loop Capital reiterated coverage of Porch Group with a rating of Buy and set a new price target of $22.00 from $16.00 previously
Reduces 2026 Debt Maturity to $29 Million Porch Group, Inc. ("Porch Group," "Porch" or "the Company") (NASDAQ:PRCH), a new kind of homeowners insurance company, today announced a delevering transaction with the privately negotiated repurchase of $144.3 million aggregate principal amount of its 0.75% Convertible Senior Notes due 2026 (the "2026 Notes") and the concurrent pricing of a private offering of $134.0 million aggregate principal amount of newly issued 9.00% Convertible Senior Unsecured Notes due 2030 of the Company (the "2030 Notes"). These refinancing transactions (the "Refinancing Transactions") are expected to close on May 27, 2025, subject to customary closing conditions. The
SEATTLE, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced the appointment of Shawn Tabak as Chief Financial Officer (CFO), effective November 9, 2022. Marty Heimbigner, Porch Group's current Chief Financial Officer, will remain with the Company for a transitional period in a supporting role. "I couldn't be more thrilled to welcome Shawn to Porch Group. With his strategic background, specifically within the technology industry, we are confident that he is well suited to help drive our company forward and create additional value for o
SEATTLE, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced that Amanda Reierson and Camilla Velasquez have been appointed to its Board of Directors ("Board"), effective immediately. With the appointment of these two accomplished women, Porch Group's Board will comprise eight directors, fifty percent of whom are members of diverse communities. "We are very pleased to have Amanda and Camilla join our Board," said Matt Ehrlichman, CEO, Chairman and Founder of Porch Group. "The addition of these directors complements our board of directo
SEATTLE, May 31, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services and insurance industries, is pleased to announce the appointment of three key members to its management team. These additions to the Porch Group leadership team provide strategic guidance to the Company's ongoing corporate development and drive innovative value across several of the organizations departments. Janet Zimmermann has been appointed as Vice President of People to lead Porch's human resource functions and the scaling of its People organization. In this role, Zimmermann will leverage her expertise to continu
Trax continues to strengthen executive leadership team to build on growth momentum Trax, a leading global provider of computer vision solutions and analytics for retail, today announced the appointment of Dena Singleton as its Chief Human Resources Officer (CHRO). Singleton will play a crucial role in the company's growth as she oversees Trax's people strategy, including operations, recruitment, learning and development, and diversity and inclusion efforts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220412005457/en/Dena Singleton (Photo: Business Wire) "Dena brings many years of progressive human resources leadership experie
SEATTLE, March 16, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing the home services industry, announced today that Sean Kell will be appointed to its Board of Directors, effective March 17, 2022. Javier Saade and Chris Terrill simultaneously concluded, effective upon Kell's appointment, their service on Porch's Board given additional external responsibilities. As part of the Board update, the independent Board members appointed Regi Vengalil, currently Chair of the Mergers and Acquisition Committee of the Board, as the Company's Lead Independent Director. "We are pleased to welcome Sean– a highly qualifi
SEATTLE, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing home services, announced today that Rachel Lam and Maurice Tulloch have been appointed to its Board of Directors, effective August 12, 2021. Thomas Hennessy and Margaret Whelan, directors of the former special purpose acquisition corporation (SPAC) PropTech Acquisition Corporation (PTAC), simultaneously concluded their service on Porch's Board after helping guide Porch through a successful transition into the public markets. "With solid performance in the public markets thus far since our December 2020 de-SPAC transaction, we felt it was th