PRCH on Nasdaq

Porch Group

American software company.1

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Last updated Oct 19, 2026.

Overview

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  • TickerPRCH on Nasdaq1
  • IndustryAccident & Health Insurance1
  • HeadquartersSeattle, Washington1
  • Websiteporch.com
  • Business address411 1St Avenue S., Suite 501, Seattle, Wa 981043
  • Filer categoryLarge accelerated filer3
  • Legal formCorporation

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Porch Group, Inc., together with its consolidated subsidiaries, (“Porch,” the “Company,” “we,” “our,” “us”) is a new kind of homeowners insurance company—one designed to stand out in a massive and growing market of more than $100 billion. Our strategy is built on three differentiators that set us apart.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

81.2%Gross margin5
8.7%Operating margin5
-0.8%Net margin5
33.7%Revenue growth, 20255
$66.0MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Recurring brought in 92% of the revenue Porch Group broke down this way in fiscal 2025.

  1. Recurring$394.3M592%up 39% from 2024
  2. Transactional$33.7M58%up 6% from 2024
Products and services by year
Products and services202320242025
Recurring$247.9M$283.5M$394.3M
Transactional$40.4M$31.9M$33.7M

Business segments

Insurance Services brought in 42% of the revenue Porch Group broke down this way in fiscal 2025.

  1. Insurance Services$266.7M542%up 70% from 2024
  2. Reciprocal$200.5M532%up 10% from 2024
  3. Software & Data$92.9M515%up 4% from 2024
  4. Consumer Services$68.4M511%down 1% from 2024
Business segments by year
Business segments202320242025
Insurance Services$125.8M$157.1M$266.7M
Reciprocal$155.8M$182.1M$200.5M
Software & Data$84.9M$89.2M$92.9M
Consumer Services$77.5M$69.1M$68.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue34¢$142.4M
  • Other costs63¢$265.1M
  • Income tax3¢$11.4M

Out of $418.9M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending1¢$454.0K
  • Kept or used elsewhere99¢$66.0M

Out of $66.4M of cash from operations.5

Financial statements

Revenue67895$418.9M in 2025+440% since 2019
0$200.0M$400.0M$600.0M2019: $77.6M$77.6M20192020: $72.3M$72.3M2020−7%2021: $192.4M$192.4M2021+166%2022: $275.9M$275.9M2022+43%2023: $287.5M$287.5M2023+4%2024: $313.3M$313.3M2024+9%2025: $418.9M$418.9M2025+34%
Gross profit5$340.0M in 2025+69% since 2023
0$100.0M$200.0M$300.0M$400.0M2023: $200.9M$200.9M20232024: $201.9M$201.9M2024+1%2025: $340.0M$340.0M2025+68%
Operating income67895$36.6M in 2025
-$200.0M-$100.0M0$100.0M2019: -$88.1M-$88.1M20192020: -$42.2M-$42.2M2020−52%2021: -$83.4M-$83.4M2021+97%2022: -$177.0M-$177.0M2022+112%2023: -$190.4M-$190.4M2023+8%2024: -$64.6M-$64.6M2024−66%2025: $36.6M$36.6M2025
Net income67895-$3.4M in 2025−97% since 2019
-$200.0M-$150.0M-$100.0M-$50.0M02019: -$103.3M-$103.3M20192020: -$54.0M-$54.0M2020−48%2021: -$106.6M-$106.6M2021+97%2022: -$156.6M-$156.6M2022+47%2023: -$133.9M-$133.9M2023−14%2024: -$32.8M-$32.8M2024−75%2025: -$3.4M-$3.4M2025−90%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Total revenue$482.4M$437.8M$430.3M
Cost of revenue$142.4M$235.9M$229.4M
Gross profit$340.0M$201.9M$200.9M
Selling and marketing$139.6M$122.9M$144.3M
Product and technology$53.3M$48.1M$51.5M
General and administrative$105.2M$95.2M$101.1M
Provision for doubtful accounts$5.3M$239.0K$37.2M
Impairment loss on intangible assets and goodwill$0$0$57.2M
Operating income (loss)$36.6M-$64.6M-$190.4M
Interest expense-$51.6M-$42.5M-$31.8M
Change in fair value of earnout liability$0$0$44.0K
Change in fair value of private warrant liability-$4.0M$691.0K-$444.0K
Change in fair value of derivatives$19.6M$5.9M-$4.3M
Gain on extinguishment of debt$395.0K$27.4M$81.4M
Investment income and realized gains and losses, net of investment expenses$11.7M$13.7M$8.3M
Other income, net$14.0M$28.7M$3.9M
Total other income (expense)-$9.8M$33.9M$57.0M
Income (loss) before income taxes$26.7M-$30.7M-$133.3M
Income tax expense-$11.4M-$2.1M-$622.0K
Net income (loss)$15.3M-$32.8M-$133.9M
Less: Net income attributable to the Reciprocal$18.7M$0
Net loss attributable to Porch-$3.4M-$32.8M-$133.9M
Net income (loss) attributable to Porch per share - basic (in usd per share)-$0.03-$0.33-$1.39
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - basic (in shares)103.7M shares99.6M shares96.1M shares
Net income (loss) attributable to Porch per share - diluted (in usd per share)-$0.03-$0.33-$1.39
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - diluted (in shares)103.7M shares99.6M shares96.1M shares
Change in net unrealized loss, net of tax$6.3M-$1.6M$2.3M
Comprehensive income (loss)$21.6M-$34.4M-$131.6M
Less: Comprehensive income attributable to the Reciprocal$24.4M$0$0
Comprehensive loss attributable to Porch-$2.8M-$34.4M-$131.6M

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Leadership

Who has led Porch Group, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Milton Joseph Beck2019
  2. Thomas D. Hennessy2019

President

  1. Thomas D. Hennessy2019

Chief financial officer

  1. Milton Joseph Beck2019
  2. Martin L. Heimbigner2020–2021
  3. Shawn Tabak2022–now

Chief operating officer

  1. Matthew Neagle2020–now
20202025
Board members and other officers (15)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerMarty Heimbigner named Apr 15, 202231
  • Executive Officer, DirectorMatthew Ehrlichman named Apr 15, 202231

Former names

  • PropTech Acquisition CorpSep 11, 2019 to Dec 21, 20203

Timeline

  1. Dec 24, 2020Went public Listed on NASDAQ1
  2. Nov 21, 2019New chief executive Milton Joseph Beck becomes CEO13
  3. Nov 21, 2019New chief executive Thomas D. Hennessy becomes CEO14

Filings

455 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 241 insider forms, 53 large holders, 1 private raises, 80 other. The latest 20:

  1. Oct 13, 20268-K EDGAR
  2. Oct 7, 20264 EDGAR
  3. Oct 7, 20264 EDGAR
  4. Oct 7, 20264 EDGAR
  5. Oct 7, 20264 EDGAR
  6. Oct 6, 2026144 EDGAR
  7. Oct 5, 2026144 EDGAR
  8. Oct 5, 20264 EDGAR
  9. Oct 5, 2026144 EDGAR
  10. Oct 5, 2026144 EDGAR
  11. Sep 16, 20264 EDGAR
  12. Sep 16, 20264 EDGAR
  13. Sep 14, 2026144 EDGAR
  14. Sep 14, 2026144 EDGAR
  15. Aug 7, 20264 EDGAR
  16. Aug 5, 2026144 EDGAR
  17. Jul 30, 2026S-8 EDGAR
  18. Jul 29, 2026SCHEDULE 13G/A EDGAR
  19. Jul 29, 202610-Q EDGAR
  20. Jul 29, 20268-K EDGAR

The 455 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

142 open-market trades by officers, directors and large owners since October 2021: 53 buys and 89 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2026Reierson Amanda LDirectorSale33,135$16.46$545.4KForm 4
Sep 14, 2026Neagle MatthewChief Operating OfficerSale50,000$16.46$823.0KForm 4
Aug 5, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale25,000$16.21$405.2KForm 4
Jul 2, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale25,000$16.13$403.2KForm 4
Jun 2, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale3,944$10.87$42.9KForm 4
May 26, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale30,000$10.08$302.4KForm 4
May 20, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale10,881$9.78$106.4KForm 4
May 20, 2026Neagle MatthewChief Operating OfficerSale62,344$9.78$609.7KForm 4
May 20, 2026Ehrlichman MattCEO, CHAIRMAN AND FOUNDERSale120,368$9.78$1.2MForm 4
May 15, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale10,467$10.34$108.2KForm 4
May 15, 2026Neagle MatthewChief Operating OfficerSale59,983$10.34$620.2KForm 4
May 15, 2026Ehrlichman MattCEO, CHAIRMAN AND FOUNDERSale115,805$10.34$1.2MForm 4
May 12, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale11,107$10.52$116.8KForm 4
May 12, 2026Neagle MatthewChief Operating OfficerSale63,650$10.52$669.6KForm 4
May 12, 2026Ehrlichman MattCEO, CHAIRMAN AND FOUNDERSale122,881$10.52$1.3MForm 4
May 8, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale10,511$11.12$116.9KForm 4
May 8, 2026Neagle MatthewChief Operating OfficerSale60,240$11.12$669.9KForm 4
May 8, 2026Ehrlichman MattCEO, CHAIRMAN AND FOUNDERSale116,303$11.12$1.3MForm 4
May 5, 2026Tabak ShawnCHIEF FINANCIAL OFFICERSale10,610$10.43$110.7KForm 4
May 5, 2026Neagle MatthewChief Operating OfficerSale60,802$10.43$634.2KForm 4

All 142 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 1, 2022Raised $4 million in a private offering of equity Form D: 2 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Granahan Investment Management, LLC12,393,660$186.4M6.6%−281,327
BlackRock, Inc.8,576,809$129.0M0.0%+641,235
D. E. Shaw & Co., Inc.5,289,385$79.6M0.1%+927,585
Vanguard Capital Management LLC4,508,442$67.8M0.0%+161,642
Gilder Gagnon Howe & Co LLC4,381,990$65.9M0.7%+207,073
Park West Asset Management LLC3,536,810$53.2M3.6%−1,560,382
Goldman Sachs Group Inc3,222,042$48.5M0.0%−161,816
Geode Capital Management, LLC2,621,360$39.4M0.0%+347,366
State Street Corp2,481,518$37.3M0.0%+172,540
Portolan Capital Management, LLC2,456,451$36.9M1.4%+311,561
Vanguard Portfolio Management LLC2,340,871$35.2M0.0%+174,017
Driehaus Capital Management LLC2,145,989$32.3M0.2%+1,385,365
Divisadero Street Capital Management, LP2,105,695$31.7M0.7%New
Dimensional Fund Advisors LP1,665,626$25.0M0.0%+125,544
Frontier Capital Management Co LLC1,547,453$23.3M0.2%New
Jupiter Topco LLC1,461,364$22.0M0.0%New
UBS Group AG1,423,495$21.4M0.0%+382,811
Wellington Management Group Llp1,297,050$19.5M0.0%+70,139
Fmr LLC1,184,434$17.8M0.0%+1,165,825
Silvercrest Asset Management Group LLC1,042,691$15.7M0.1%New
Ashford Capital Management Inc976,320$14.7M1.6%+280,140
Northern Trust Corp867,794$13.1M0.0%−8,907
Jpmorgan Chase & Co887,414$13.0M0.0%+273,709
Charles Schwab Investment Management Inc849,852$12.8M0.0%+127,239
Pembroke Management, LTD823,718$12.4M0.9%+552,614

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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