10-K · February 20, 2026
Porch Group positions itself as a vertically integrated home marketplace combining homeowners insurance, warranty/moving consumer services, and home-related SaaS/data. The 10-K emphasizes a data advantage (Home Factors)…
Earnings analysis · 10-Q
PRCH earnings analysis
Filed April 28, 2026 · Our reading of the company's report
The latest report
Porch Group, Inc. reported stronger-than-expected results for Q1 2026, with revenues of $121.1 million, surpassing estimates by 26.97%. The company experienced a significant growth in gross profit, which increased by…
Read full summary
Porch Group, Inc. reported stronger-than-expected results for Q1 2026, with revenues of $121.1 million, surpassing estimates by 26.97%. The company experienced a significant growth in gross profit, which increased by 39% year-over-year, though it posted a net loss attributable to Porch of $4.7 million. Management raised full-year guidance for Porch Shareholder Interest revenues and adjusted EBITDA, indicating confidence in future performance.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.04
- Segment
- Insurance Services
- Segment
- Software & Data
- Segment
- Consumer Services
What stood out
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Q1 Revenue Significantly Beats Estimates
Porch reported Q1 2026 revenue of $121.1 million, exceeding estimates by 26.97%.
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Improved Gross Profit Margin
Gross profit increased 39% year-over-year to $90.8 million, raising the gross margin to 75%.
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EPS Surpasses Expectations
The actual EPS of -$0.04 was a 63.64% positive surprise against the estimate of -$0.11.
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Strong Growth in Reciprocal Policies
Reciprocal Policies Written grew by 33% year-over-year, contributing to overall revenue.
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Increased Guidance for Full Year 2026
Management raised revenue guidance to $495M–$507M from $475M–$490M.
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Solid Adjusted EBITDA Growth
Adjusted EBITDA rose to $19.7 million, representing a 17% year-over-year increase.
What to watch
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Increased Interest Expense
Interest expense grew by 30% year-over-year to $14.6 million due to higher coupon rates on new debt.
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Continued Net Loss
The company reported a net loss attributable to Porch of $4.7 million compared to a profit of $8.4 million last year.
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Dependence on Reciprocal's Performance
Porch's financial health is closely tied to the Reciprocal's stability, highlighting potential vulnerabilities.
Management's outlook
Revenue guidance raised from $475M–$490M to $495M–$507M; Adjusted EBITDA guidance increased to $103M–$109M.
Earlier filings 4
10-Q · November 6, 2025
Porch Group reported Q3 2025 revenue of $118,082,000 (up from $111,200,000 in Q3 2024) with gross profit of $86,947,000 (73.6% margin) and operating income of $16,335,000 (13.8% margin). however, net income attributable…
10-Q · August 5, 2025
Porch Group reported Q2 revenue of $119.295 million (up $8.451 million vs Q2 2024) with gross profit of $75.873 million (~63.6% margin) and operating income of $5.049 million, reversing the prior-year operating loss of…
10-Q · August 6, 2024
Porch reported Q2 revenue of $110,844,000, up 12.2% year-over-year from $98,765,000, driven by Insurance segment strength. Despite top-line growth, the company recorded an operating loss of $52,479,000 (operating margin…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.