Porch Group, Inc.
- Open
- 14.85
- Day high
- 15.37
- Day low
- 14.80
- Prev close
- 14.85
- Volume
- 915K
- Mkt cap
- $1.7B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -65.3
- P/S
- 3.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$20.3M over the last 3 months (0 open-market buys, 39 sales)
- 🏛Institutions mixed (13F)
Porch Group, Inc. (PRCH) is a Technology company listed on NASDAQ. The stock is up 15% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 39 sales (SEC Form 4).
Porch Group, Inc. (PRCH) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PRCH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $-0.10 | $-0.04 | +60.0% | $109M | +15.5% |
| Feb 11, 2026 | $-0.08 | $-0.03 | +62.5% | $124M | +21.9% |
| Nov 5, 2025 | $-0.08 | $-0.10 | -25.0% | $118M | +8.6% |
| Nov 7, 2024 | $-0.01 | $-0.02 | -140.7% | $111M | +1.5% |
| Mar 7, 2024 | $-0.19 | $-0.06 | +68.4% | $115M | +15.4% |
| Mar 14, 2023 | $-0.28 | $-0.36 | -28.6% | $64M | -3.3% |
| Aug 9, 2022 | $-0.24 | $-0.27 | -12.5% | $71M | -9.8% |
| Mar 1, 2022 | $-0.21 | $-0.25 | -19.0% | $52M | -5.6% |
| Nov 15, 2021 | $-0.16 | $-0.15 | +6.3% | $63M | +9.6% |
| Aug 16, 2021 | $-0.23 | $-0.17 | +26.1% | $51M | -9.2% |
| May 17, 2021 | $-0.23 | $-0.35 | -52.2% | $27M | +22.7% |
| Dec 3, 2020 | — | $-0.11 | — | $22M | — |
PRCH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 7, 2026 | Tabak Shawnofficer: CHIEF FINANCIAL OFFICER | Sell | 25,000 | $16.13 |
| Jun 12, 2026 | Velasquez Camilladirector | Grant | 15,940 | — |
| Jun 12, 2026 | Reierson Amanda Ldirector | Grant | 15,940 | — |
| Jun 12, 2026 | Vengalil Regidirector | Grant | 15,940 | — |
| Jun 12, 2026 | TULLOCH MAURICEdirector | Grant | 15,940 | — |
| Jun 12, 2026 | Lam Racheldirector | Grant | 15,940 | — |
| Jun 12, 2026 | Pickerill Alan Rdirector | Grant | 15,940 | — |
| Jun 12, 2026 | Kell Sean Davisdirector | Grant | 15,940 | — |
| Jun 4, 2026 | Tabak Shawnofficer: CHIEF FINANCIAL OFFICER | Sell | 3,944 | $10.87 |
| May 28, 2026 | Tabak Shawnofficer: CHIEF FINANCIAL OFFICER | Sell | 30,000 | $10.08 |
| May 21, 2026 | Ehrlichman Mattdirector, 10 percent owner, officer: CEO, CHAIRMAN AND FOUNDER | Sell | 120,368 | $9.78 |
| May 21, 2026 | Tabak Shawnofficer: CHIEF FINANCIAL OFFICER | Sell | 10,881 | $9.78 |
| May 21, 2026 | Neagle Matthewofficer: Chief Operating Officer | Sell | 62,344 | $9.78 |
| May 19, 2026 | Neagle Matthewofficer: Chief Operating Officer | Sell | 59,983 | $10.34 |
| May 19, 2026 | Tabak Shawnofficer: CHIEF FINANCIAL OFFICER | Sell | 10,467 | $10.34 |
Source: PRCH SEC Form 4 filings, latest Jul 7, 2026. For informational purposes only — not investment advice.
See the full PRCH insider & 13F page →Porch Group, Inc. company profile
Overview
Porch Group, Inc. (NASDAQ:PRCH) is a Seattle-based technology company founded in 2011 that operates a comprehensive software platform serving the home services ecosystem. The company went public in January 2020 and has evolved from a home services marketplace into a diversified technology platform with two primary business segments: Vertical Software and Insurance Services. Porch has undergone significant strategic transformation in recent years, transitioning from a direct insurance carrier model to a commission-based reciprocal exchange structure while expanding its software offerings and data analytics capabilities.
Business
Porch Group operates as a technology platform that connects various participants in the home services and homeownership ecosystem. The company's business is organized into two main segments that collectively serve homeowners, home service providers, and insurance needs. The Vertical Software segment represents approximately 26% of total revenue and provides specialized software solutions to home services companies. This segment operates through several branded platforms including Floify (mortgage origination software), HireAHelper (moving services marketplace), ISN (inspection management software), iRoofing (roofing contractor tools), Palm-Tech (inspection reporting software), and V12 (data and marketing services). These software solutions help home service providers manage their operations, from scheduling and customer management to specialized reporting and compliance tools. The segment also includes Porch.com, which serves as a consumer-facing platform connecting homeowners with service providers. The Insurance Services segment generates approximately 59% of total revenue and has undergone significant transformation. Originally operating as a direct insurance carrier through Homeowners of America, the company has transitioned to operating the Porch Insurance Reciprocal Exchange (PIRE), which functions as a risk-sharing pool among policyholders. Through this model, Porch earns commissions and fees rather than bearing direct insurance risk. The segment offers property and casualty insurance, including home, auto, flood, and umbrella coverage, with a particular focus on serving homebuyers and new construction markets. The company also operates a smaller Consumer Services segment (approximately 15% of revenue) that provides moving services, home warranties through American Home Protect, and other homeowner-related services. Additionally, Porch has developed Home Factors, a proprietary data analytics platform that provides detailed property risk assessments and insights, which serves both internal underwriting needs and external clients in the insurance and real estate industries.
Revenue model
Porch Group generates revenue through multiple business models across its platform segments. The Insurance Services segment operates on a commission and fee-based model, earning approximately 20% commissions on insurance premiums written through the Porch Insurance Reciprocal Exchange. This represents a strategic shift from the previous direct carrier model, where the company bore underwriting risk directly. The reciprocal exchange structure allows Porch to earn predictable fee income while transferring weather and catastrophe risk to the policyholder pool and reinsurance partners. The Vertical Software segment generates revenue primarily through software-as-a-service (SaaS) subscriptions and transaction-based fees. Home service companies pay monthly or annual subscription fees for access to specialized software tools, while the company also earns transaction fees from services facilitated through its platforms. The Consumer Services segment operates on a service fee model, charging consumers for moving services, warranty products, and other home-related services. Several factors influence Porch's profitability margins. In the insurance business, weather events and natural disasters can significantly impact loss ratios, though the new reciprocal structure provides some insulation from these risks. Premium pricing power, driven by rate increases and improved risk selection through the company's Home Factors data platform, directly affects margins. The software business benefits from high gross margins (typically 75-80%) due to the scalable nature of SaaS products, but faces pressure from housing market cycles that affect customer acquisition and retention. Competitive dynamics in both insurance and software markets can pressure pricing, while the company's unique position with proprietary property data provides some pricing power. Regulatory changes in insurance markets, particularly around rate approvals and coverage requirements, can impact both revenue growth and margin expansion. The company's ability to cross-sell services across its platform and leverage data insights for better risk pricing represents key margin enhancement opportunities.
Competitive moat
Porch Group's competitive moat centers primarily on its unique position as a data aggregator and platform connector in the home services ecosystem, though this moat has moderate strength with several vulnerability points. The company's strongest defensive position comes from its Home Factors data platform, which combines property-specific data with homeowner behavior insights to create proprietary risk assessment capabilities. This data advantage becomes more valuable over time as the dataset grows and machine learning models improve, creating a potential network effect where better data leads to better risk pricing, which attracts more customers and generates more data. The company's integrated platform approach provides some switching costs for customers who use multiple Porch services, particularly in the software segment where home service providers integrate Porch tools into their daily operations. However, this integration advantage is not particularly deep, as most software solutions can be replaced by competitors with moderate effort and cost. The insurance reciprocal exchange structure provides some competitive advantages through risk pooling and potentially lower capital requirements compared to traditional carriers, but this model can be replicated by competitors with sufficient scale and regulatory approval. The company's focus on the homebuyer and new construction segments represents a strategic niche, but these markets are also attractive to larger, well-capitalized insurance companies. Potential disruption comes from several sources: large technology companies like Google or Amazon could enter the home services space with superior resources and customer acquisition capabilities; established insurance carriers could develop competing data analytics platforms; and specialized software companies could offer more focused solutions that outperform Porch's broader but potentially less specialized offerings. The company's relatively small scale compared to major insurance carriers also limits its ability to compete on price and coverage breadth in certain markets.
Risks & safety
Porch Group presents a moderate margin of safety profile with improving but still concerning financial metrics. The company has recently achieved adjusted EBITDA profitability but maintains structural challenges. • **Cash and Liquidity**: Strong cash position with $148.8 million in cash and short-term investments as of Q1 2025, providing adequate runway for operations and growth investments. • **Debt and Solvency**: The company carries negative shareholder equity of approximately -$32 million, indicating total liabilities exceed total assets. However, this is partially due to the reciprocal exchange structure and insurance reserves. Current ratio of 1.79 indicates adequate short-term liquidity. • **Cash Flow**: Negative free cash flow of -$11.2 million in Q1 2025, though this represents improvement from previous periods. The company achieved positive operating cash flow in some recent quarters. • **Valuation Metrics**: Trading at P/E ratio of 22.1x based on recent positive earnings, though earnings volatility makes this metric less reliable. EV/EBITDA of 13.2x appears reasonable given growth prospects. • **Other Considerations**: The insurance business transformation to a reciprocal model reduces direct risk exposure but creates dependency on commission income. Revenue guidance suggests confidence in business model transition, but execution risk remains significant.
Recent development
Porch Group has undergone substantial strategic transformation over the past few years, fundamentally reshaping its business model and market approach. The most significant development has been the transition from operating as a direct insurance carrier to establishing the Porch Insurance Reciprocal Exchange (PIRE), which launched in early 2025. This transformation involved selling the Homeowners of America insurance carrier into the reciprocal structure, shifting from bearing direct underwriting risk to earning commissions and fees on insurance premiums written through the exchange. The company has aggressively focused on improving insurance profitability through several key initiatives. Management implemented significant premium increases, with some policies seeing 25% year-over-year rate increases, while simultaneously non-renewing approximately 37,000 higher-risk policies to improve loss ratios. The company has also expanded its geographic footprint by reopening previously closed ZIP codes and reactivating distribution partnerships with insurance agents. On the technology front, Porch has heavily invested in developing its Home Factors data platform, which provides proprietary property risk assessments and insights. The platform has been approved for use in insurance pricing across multiple states and is being monetized through third-party insurance carriers and real estate companies. The company expects to have over 100 data factors available by the end of 2025, with significant revenue potential beginning in 2026. The Vertical Software segment has seen continued product innovation and expansion, including the launch of Floify Quick Apply for mortgage origination and strategic partnerships with inspection franchise networks. The company has also implemented price increases across its software offerings, with some products like Rynoh seeing 20% price increases. Additionally, Porch has exited certain unprofitable business lines, such as corporate relocations, to focus resources on higher-margin opportunities.
PRCH company profile · for informational purposes only — not investment advice.
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