Porch Group Reports First Quarter 2024 Results
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.
- 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.