Porch Group Inc. Q1 2026 Earnings Recap

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.