PRCH

MKT CAP:$830M

Porch Group, Inc.

Market Cap

$830M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$8.05-$1.17 (-12.69%)

Apr 22, 2026

Company Details

Porch Group, Inc. operates a software platform in the United States and Canada. The company operates through two segments, Vertical Software and Insurance. The Vertical Software segment provides software and services to home services compan...

CEO

Matthew Ehrlichman

IPO Date

Jan 13, 2020

Website

porchgroup.com

Key Metrics TTM

Revenue

$438M

+1.8% YoY

Net Income

-$33M

EPS (Diluted)

-$0.35

Free Cash Flow

-$44M

Revenue / Share

$4.40

Gross Margin

47.3%

Operating Margin

-14.7%

Net Margin

-7.5%

FCF Margin

-10.2%

P/S

1.9x

P/E

—

Earnings Reports

Q1 2025

May 5, 2026

PENDING

FY 2024

Feb 25, 2025

$438M+1.8%EPS -$0.33

Q4 2024

Feb 25, 2025

$100M-12.4%EPS $0.30

Q3 2024

Nov 7, 2024

$111M-14.2%EPS $0.14

Q2 2024

Aug 6, 2024

$111M+12.2%EPS -$0.65

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$17M	$13M	-$5M
Q3 20	$22M	$16M	-$4M
Q1 21	$27M	$21M	-$30M
Q2 21	$51M	$32M	-$23M
Q3 21	$63M	$44M	-$13M
Q1 22	$64M	$38M	-$29M
Q2 22	$71M	$42M	-$32M
Q3 22	$77M	$44M	-$83M
Q1 23	$87M	$36M	-$39M
Q2 23	$99M	$17M	-$159M
Q3 23	$130M	$77M	$199.0K
Q4 23	$115M	$80M	$7M
Q1 24	$115M	$37M	-$35M
Q2 24	$111M	$17M	-$52M
Q3 24	$111M	$64M	-$3M
Q4 24	$100M	$89M	$25M

Valuation

Quarter	P/S	P/E
Q2 20	11.5x	—
Q3 20	12.2x	—
Q1 21	17.8x	—
Q2 21	15.1x	—
Q3 21	11.1x	—
Q1 22	3.3x	—
Q2 22	1.1x	—
Q3 22	0.8x	—
Q1 23	0.5x	—
Q2 23	0.4x	—
Q3 23	0.2x	—
Q4 23	0.7x	—
Q1 24	0.9x	—
Q2 24	0.3x	—
Q3 24	0.3x	—
Q4 24	1.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	-$104.0K	-$82.0K
Q3 20	-$7M	-$7M
Q1 21	-$23M	-$23M
Q2 21	-$8M	-$9M
Q3 21	-$11M	-$9M
Q1 22	-$15M	-$17M
Q2 22	$11M	$11M
Q3 22	-$6M	-$9M
Q1 23	-$22M	-$25M
Q2 23	$13M	$11M
Q3 23	$84M	$84M
Q4 23	-$153M	-$153M
Q1 24	$8M	$6M
Q2 24	-$26M	-$29M
Q3 24	$12M	$9M
Q4 24	-$27M	-$30M

Capital Expenditures

Quarter	CapEx
Q2 20	$22.0K
Q3 20	$59.0K
Q1 21	$34.0K
Q2 21	$1M
Q3 21	$1M
Q1 22	$1M
Q2 22	$372.0K
Q3 22	$3M
Q1 23	$3M
Q2 23	$3M
Q3 23	$104.0K
Q4 23	$75.0K
Q1 24	$2M
Q2 24	$3M
Q3 24	$3M
Q4 24	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	-8.8%	-54.7%
Q3 20	-0.9%	-21.3%
Q1 21	+45.8%	+81.1%
Q2 21	+240.6%	+161.0%
Q3 21	+266.6%	+241.1%
Q1 22	+195.6%	+263.7%
Q2 22	+165.2%	+82.0%
Q3 22	+50.7%	+115.8%
Q1 23	+39.2%	+67.0%
Q2 23	+55.4%	+179.9%
Q3 23	+82.7%	+26.1%
Q4 23	+48.2%	-33.1%
Q1 24	+32.1%	+19.2%
Q2 24	+12.2%	-36.7%
Q3 24	-14.2%	-12.1%
Q4 24	-12.4%	-29.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$363.0K	2.1%
Q3 20	$507.0K	2.4%
Q1 21	$17M	63.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q1 22	$6M	9.2%
Q2 22	$0	0.0%
Q3 22	$5M	6.6%
Q1 23	$7M	7.9%
Q2 23	$6M	6.5%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$5M	4.6%
Q2 24	$7M	6.4%
Q3 24	$7M	6.1%
Q4 24	$8M	7.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 20	$5M	$6M	$9M
Q3 20	$6M	$5M	$9M
Q1 21	$12M	$24M	$15M
Q2 21	$11M	$21M	$23M
Q3 21	$11M	$22M	$23M
Q1 22	$14M	$27M	$26M
Q2 22	$16M	$28M	$29M
Q3 22	$14M	$25M	$31M
Q1 23	$14M	$26M	$33M
Q2 23	$15M	$23M	$35M
Q3 23	$14M	$29M	$40M
Q4 23	$15M	$26M	$37M
Q1 24	$12M	$26M	$34M
Q2 24	$13M	$23M	$33M
Q3 24	—	$25M	$27M
Q4 24	$12M	$23M	$28M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 20	-8.8%	-8.0%	-16.8
Q3 20	-0.9%	-15.5%	-16.3
Q1 21	45.8%	-229.7%	-183.9
Q2 21	240.6%	-36.0%	204.6
Q3 21	266.6%	-0.2%	266.4
Q1 22	195.6%	0.0%	195.6
Q2 22	165.2%	-26.9%	138.3
Q3 22	50.7%	-95.2%	-44.6
Q1 23	39.2%	-35.1%	4.1
Q2 23	55.4%	-72.8%	-17.5
Q3 23	82.7%	8.4%	91.1
Q4 23	48.2%	12.8%	60.9
Q1 24	32.1%	3.4%	35.5
Q2 24	12.2%	-42.5%	-30.3
Q3 24	-14.2%	27.8%	13.6
Q4 24	-12.4%	49.5%	37.0

Rule of 40

Revenue Segments

Quarter	Management Service	Referral Network	Software And Service Subscription	Service	Core services revenue	Managed services revenue	Software and service subscription revenue	Insurance	Vertical Software
Q1 21	$5M	$11M	$11M	—	—	—	—	—	—
Q2 21	$10M	—	$13M	$29M	—	—	—	—	—
Q3 21	—	—	—	—	$33M	$14M	$16M	—	—
Q3 22	—	—	—	—	—	—	—	$31M	$44M
Q1 23	—	—	—	—	—	—	—	$59M	$29M
Q2 23	—	—	—	—	—	—	—	$64M	$34M
Q3 23	—	—	—	—	—	—	—	$95M	$34M
Q4 23	—	—	—	—	—	—	—	$87M	$28M
Q1 24	—	—	—	—	—	—	—	$88M	$27M
Q2 24	—	—	—	—	—	—	—	$78M	$33M
Q3 24	—	—	—	—	—	—	—	$80M	$31M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$292M	$8M	$301M
Q2 22	$271M	$8M	$279M
Q3 22	$260M	$7M	$267M
Q4 22	$215M	$37M	$252M
Q1 23	$179M	$34M	$214M
Q2 23	$266M	$26M	$292M
Q3 23	$343M	$29M	$372M
Q4 23	$258M	$36M	$294M
Q1 24	$279M	$31M	$310M
Q2 24	$274M	$34M	$308M
Q3 24	$207M	$32M	$239M
Q4 24	$168M	$24M	$192M
Q1 25	$149M	$5M	$154M
Q2 25	$179M	$5M	$184M
Q3 25	$82M	$15M	$97M
Q4 25	$53M	$13M	$66M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	81M	0.0%	+283.3%
Q3 20	81M	0.0%	+267.7%
Q1 21	85M	+4.7%	+42.2%
Q2 21	95M	+11.6%	+16.9%
Q3 21	98M	+2.4%	+19.7%
Q1 22	96M	-1.5%	+17.9%
Q2 22	97M	+1.1%	+13.8%
Q3 22	98M	+0.7%	+2.7%
Q1 23	95M	-2.6%	-2.4%
Q2 23	96M	+0.5%	-0.4%
Q3 23	96M	+0.7%	-0.8%
Q4 23	97M	+0.5%	-0.9%
Q1 24	98M	+0.6%	+2.4%
Q2 24	99M	+1.7%	+3.6%
Q3 24	99M	0.0%	+2.9%
Q4 24	100M	+0.4%	+2.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	$9M	2
Q3 20	$11M	2
Q1 21	$26.7K	1K
Q2 21	$51.3K	1K
Q3 21	$62.8K	1K
Q1 22	$37.4K	2K
Q2 22	$41.7K	2K
Q3 22	$45.5K	2K
Q1 23	$48.5K	2K
Q2 23	$54.9K	2K
Q3 23	$72.0K	2K
Q4 23	$128.1K	895
Q1 24	$129.0K	895
Q2 24	$123.8K	895
Q3 24	$124.2K	895
Q4 24	$136.9K	733

Revenue / Employee