NASDAQ$PRCH
Porch Group Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Porch Group reported a revenue of $98.8 million, marking a 39% year-over-year growth, but operating results were impacted by extreme weather.
Porch Group's Q2 2023 results showed a 39% increase in total revenue to $98.8 million compared to Q2 2022. However, the company reported a GAAP net loss of $87.0 million and an Adjusted EBITDA loss of $43.1 million, impacted by weather-related claims costs in the Insurance Segment.
- Total revenue reached $98.8 million, a 39% increase year-over-year, driven by the Insurance Segment.
- Revenue less cost of revenue was $17.4 million, which is 18% of total revenue, impacted by industry headwinds and weather-related claims.
- GAAP net loss was $87.0 million, including an $81.4 million gain on extinguishment of debt and charges related to a reinsurance contract.
- Adjusted EBITDA loss was $43.1 million, influenced by an $18 million loss from extreme weather events.
Headline financials
Revenue & EPS history
Porch · Revenue · Quarterly
$98.8M
Forward guidance
Porch Group revised its full year 2023 guidance due to current market conditions, expecting revenue between $330m to $350m. The company also reiterated its Adjusted EBITDA profitability target in the second half of the year and beyond, assuming cat weather is in line with historic trends with a 41% gross loss ratio.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+8.3%
Avg return
Earnings day
+11.8%
Avg return
5 days after
+18.4%
Avg return
30 days after
67%
16 / 24 earnings
Positive
+74.1%
Q4 2024
Best reaction
-36.5%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | +20.7% | +21.3% | |
| Q3 2025 | +1.0% | -4.3% | -11.9% | |
| Q1 2025 | +67.4% | +67.0% | +71.3% | |
| Q4 2024 | +74.1% | +82.6% | +95.0% | |
| Q3 2024 | +58.8% | +47.8% | +141.7% | |
| Q2 2024 | -32.4% | -26.0% | -26.0% | |
| Q1 2024 | +4.3% | -14.8% | -41.2% | |
| Q4 2023 | +22.0% | +26.3% | +44.7% | |
| Q3 2023 | +37.4% | +50.7% | +211.6% | |
| Q2 2023 | -9.5% | -12.7% | -36.3% | |
| Q1 2023 | +26.8% | +22.4% | +37.6% | |
| Q4 2022 | -25.5% | -32.6% | -27.2% | |
| Q3 2022 | -36.5% | -31.5% | +18.8% | |
| Q2 2022 | +9.9% | +21.8% | -3.1% | |
| Q1 2022 | +2.0% | +30.3% | -2.0% | |
| Q4 2021 | -20.9% | +15.8% | -19.9% | |
| Q3 2021 | +8.0% | +2.9% | -29.8% | |
| Q2 2021 | -9.9% | -17.1% | -0.2% | |
| Q1 2021 | +6.5% | +16.3% | +20.8% | |
| Q2 2020 | +7.3% | +5.0% | -20.7% | |
| Q4 2020 | +5.2% | +7.0% | -20.5% | |
| Q3 2020 | +0.9% | +0.2% | +11.3% | |
| Q1 2020 | +0.0% | +0.0% | -0.6% | |
| Q4 2019 | +1.5% | +4.2% | +6.4% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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