NASDAQ$PRCH
Porch Group Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Porch Group reported positive Adjusted EBITDA and revenue growth, driven by the Insurance segment.
Porch Group reported a 67% increase in total revenue to $129.6 million and Adjusted EBITDA of $8.8 million for Q3 2023. The company is focused on ongoing profitability through underwriting actions, software module launches, and cost reduction initiatives.
- Total revenue increased by 67% to $129.6 million.
- GAAP net loss improved to $(5.7) million compared to $(84.5) million in the prior year.
- Adjusted EBITDA reached $8.8 million, a significant increase from the prior year's loss of $(10.9) million.
- The company had $458.4 million in unrestricted cash plus investments at the end of the quarter.
Headline financials
Revenue & EPS history
Porch · Revenue · Quarterly
$130M
Forward guidance
Porch Group increased its full year 2023 guidance, expecting revenue of ~$415 million, revenue less cost of revenue of ~$190 million, and Adjusted EBITDA of ~$(52) million. Gross Written Premium is expected to be ~$500 million.
Tailwinds
- Revenue ~$415m
- ~50% YoY growth
- Revenue Less Cost of Revenue ~$190m
- Adj. EBITDA1 ~$(52)m
- 2023 Gross Written Premium2 ~$500m
Headwinds
- Assumes cat weather in Q4 is in line with historic trends with a 35% gross loss ratio
- This would be higher than the $110 5-year average
- Catastrophic weather events in excess of historic trends occurring in the fourth quarter of the year are excluded from guidance and from this target.
- Adjusted EBITDA is a non-GAAP measure.
- Porch Group is not providing reconciliations of expected Adjusted EBITDA (loss) for future periods to the most directly comparable measures prepared in accordance with GAAP
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 Q3 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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