Porch Group Inc. Earnings Recaps
Q1 2026
Apr 29, 2026
Porch Group shares surged 25.8% following Q1 earnings, as results surpassed expectations and management raised full-year guidance for revenue, gross profit, and adjusted EBITDA. The quarter highlighted momentum in Insurance Services, margin expansion, and accelerating distribution gains.
Key takeaways
- Q1 revenue reached $109 million, up 29% year-over-year; gross profit was $91 million, representing an 83% gross margin.
- Adjusted EBITDA came in at $20 million (18% margin), and management raised full-year guidance for multiple key metrics.
- Insurance Services revenue grew 50% year-over-year, with total policies written up 33% and reciprocal written premium (RWP) rising 18% to $114 million.
- Statutory surplus grew 59% to $165 million, supporting premium growth well above 2026 targets.
- Distribution expansion drove a 181% increase in agency branch locations and 69% growth in quote volumes; conversion rates nearly doubled year-over-year.
Q3 2025
Nov 6, 2025
Porch Group delivered a robust Q3 2025 with $21 million in adjusted EBITDA, surpassing its previous guidance and demonstrating strong operational momentum, particularly in the insurance segment.
Key takeaways
- Achieved $53.1 million in adjusted EBITDA year-to-date, exceeding the initial $50 million target with an anticipated full-year outcome of $70 million.
- Q3 gross profit rose to $94 million, reflecting an 82% gross margin and a significant 119% year-over-year increase in year-to-date gross profit.
- Reciprocal surplus increased to $412 million, providing a path to support $2 billion in premiums, with the conversion rate of written premiums to adjusted EBITDA improving to 18%.
- Strong cash flow generation of $29 million from operations in Q3, underscoring effective cost management and business execution.
- Continued investment in talent and data capabilities, enhancing competitive advantages and positioning for scalable growth in future premium volumes.