NASDAQ:PRCH

Porch Group Reports First Quarter 2024 Results

Retrieved on: 
Wednesday, May 8, 2024
Professional Services, Technology, Residential Building & Real Estate, Insurance, Software, Construction & Property, Fintech, Storm, Total, Investment, Policy, Software as a service, EIG, ISN, Adjustment, GAAP

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.

Key Points: 
  • 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.
  • "We are pleased with the results we delivered in the first quarter, with revenue growth of 32% and the year-over-year improvement in profitability despite the Texas Spring Storm Season arriving early.
  • Revenue less cost of revenue of $39.6 million, 34% of total revenue (first quarter 2023: $36.1 million, 41% of total revenue).
  • ISN, Porch's largest inspection brand, implemented price increases in Q1 2024, following more than 20 feature enhancements in 2023.

Porch Group to Release First Quarter 2024 Earnings on May 8, 2024

Retrieved on: 
Wednesday, April 24, 2024
Professional Services, Technology, Residential Building & Real Estate, Insurance, Construction & Property, Software, Q&A

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 first quarter ended March 31, 2024, after markets close on Wednesday, May 8, 2024.

Key Points: 
  • 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 first quarter ended March 31, 2024, after markets close on Wednesday, May 8, 2024.
  • Porch management will host a live webinar to discuss the financial results and business followed by Q&A on Wednesday, May 8, 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.

Porch Group Announces Inspection Product Enhancements and Price Increases

Retrieved on: 
Tuesday, April 9, 2024
Technology, Construction & Property, Insurance, Finance, Banking, Professional Services, Software, Data Analytics, Data Management, Residential Building & Real Estate, ISN, Software as a service, Inspection

Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a homeowners insurance and vertical software platform, today announced product enhancements and price increases in its inspection software business.

Key Points: 
  • Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a homeowners insurance and vertical software platform, today announced product enhancements and price increases in its inspection software business.
  • Inspection Support Network (“ISN”) is a market-leading SaaS solution for inspectors with easy-to-use tools.
  • Along with other Porch inspection brands, together they processed approximately 40% of all U.S. home inspections in 2023.
  • ISN also has Porch’s innovative approach to rolling out new products which aim to improve its customer value proposition.

Porch Group Attendance At Various Upcoming Investor Events

Retrieved on: 
Thursday, March 14, 2024
Professional Services, Technology, Residential Building & Real Estate, Insurance, Software, Construction & Property

Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a homeowners insurance and vertical software platform, today announced its upcoming investor event attendance.

Key Points: 
  • Porch Group, Inc. (“Porch” or “the Company”) (NASDAQ: PRCH), a homeowners insurance and vertical software platform, 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:

Porch Group to Release Fourth Quarter 2023 Earnings on March 7, 2024

Retrieved on: 
Monday, February 12, 2024
Professional Services, Technology, Residential Building & Real Estate, Insurance, Construction & Property, Software, Adjustment, Q&A

Porch Group, Inc. (“Porch Group,” “Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced it will report fourth quarter financial results ended December 31, 2023, after markets close on Thursday, March 7, 2024.

Key Points: 
  • Porch Group, Inc. (“Porch Group,” “Porch” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced it will report fourth quarter financial results ended December 31, 2023, after markets close on Thursday, March 7, 2024.
  • The business performed well in the fourth quarter, with 2023 Revenue and Adjusted EBITDA expected to be ahead of guidance1.
  • A presentation to accompany the discussion will be posted on the company website along with a press release and other supplemental financial information.
  • 1 The Company’s previously provided full year 2023 guidance was Revenue of $415 million and Adjusted EBITDA of $(52) million.

Porch Group Receives $25M with Signing of Strategic Agreement with Aon

Retrieved on: 
Thursday, January 25, 2024
Data Management, Residential Building & Real Estate, Banking, Technology, Construction & Property, Professional Services, Apps, Applications, Software, Fintech, Insurance, Finance

Porch Group, Inc. (“Porch”, “Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced it signed a strategic business collaboration agreement with Aon Corp. and Aon Re, Inc. (“Aon”) to provide a variety of services to Porch Group companies, resulting in payments to Porch of approximately $25 million upfront and an expected approximately $5 million over the following four years.

Key Points: 
  • Porch Group, Inc. (“Porch”, “Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced it signed a strategic business collaboration agreement with Aon Corp. and Aon Re, Inc. (“Aon”) to provide a variety of services to Porch Group companies, resulting in payments to Porch of approximately $25 million upfront and an expected approximately $5 million over the following four years.
  • Aon Re, Inc. is a leading reinsurance broker and provides a wide variety of services for insurance and non-insurance companies.
  • Porch was seeking a strong partner who could both deliver strong outcomes with reinsurance placements and importantly, provide other services across Porch Group such as data modeling and more.
  • Aon and Porch Group will work together to place 2024 reinsurance coverage at the upcoming renewal on April 1, 2024.

Porch Group Launches New Product in the Rynoh Title Platform

Retrieved on: 
Tuesday, January 9, 2024
Apps, Applications, Technology, Construction & Property, Finance, Fintech, Banking, Professional Services, Software, Data Management, Residential Building & Real Estate, Fraud, Anomaly, Software as a service, Insurance

Porch Group, Inc. (“Porch”, “Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced the release of RynohVerifi, a new fraud warning product for title and escrow companies who want to help protect against fraud.

Key Points: 
  • Porch Group, Inc. (“Porch”, “Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced the release of RynohVerifi, a new fraud warning product for title and escrow companies who want to help protect against fraud.
  • Rynoh, which was acquired by Porch in 2021, is a leading provider of SaaS solutions for title and escrow agents.
  • The Rynoh software sits between the agent’s transaction system and their bank and helps them manage the flow of money into and out of their escrow accounts.
  • I’m excited about the product pipeline in 2024 and sharing more throughout the year,” Matt Ehrlichman, Chief Executive Officer.

HireAHelper U.S. Migration Study Shows 2023 Had Fewest Number of Moves Nationwide Since the 1940s

Retrieved on: 
Tuesday, January 9, 2024
Transport, Trucking, Ageing, Comparison, Consumer, City, CO, Parent, Cryptocurrency

The 25.6 million Americans who moved in 2023 constitute 7.8% of the population, which is the lowest percentage of relocators ever recorded.

Key Points: 
  • The 25.6 million Americans who moved in 2023 constitute 7.8% of the population, which is the lowest percentage of relocators ever recorded.
  • The nationwide study identified several socio-economic factors impacting American migration, such as “Lower cost of living”, “Cheaper rent”, and “Inflation” - which factored into 15% of all moves in 2023.
  • By sheer number of people, Chicago was the number one most moved to city in 2023.
  • To access the study and all of its findings, please visit: https://www.hireahelper.com/moving-statistics/migration-report/
    How was the 2023 Moving Migration study conducted?

Porch Group Announces New Partnerships and Growth in its Utilities Channel

Retrieved on: 
Wednesday, January 3, 2024
Technology, Construction & Property, Insurance, HVAC, Utilities, Professional Services, Software, Manufacturing, Energy, Residential Building & Real Estate, Marketing, Partnership, EXC, Delmarva Power, NPS, Growth, Pepco Holdings, Natural gas

Porch Group, Inc. (“Porch”, “Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced growth in its utility concierge channel through additional partnerships.

Key Points: 
  • Porch Group, Inc. (“Porch”, “Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, today announced growth in its utility concierge channel through additional partnerships.
  • Porch now has partnerships with 12 utilities with access to over 14 million households.
  • As an example, Porch has launched utility specific warranty offerings that offer protection against unexpected issues to utility service lines.
  • I am proud of the efforts of our utilities business who are driving strong growth and great customer satisfaction with an NPS of 81.