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Mar 31, 2025
Porch Q1 2025 Earnings Report
Estimated Revenue:$78.6M
-23.4% YoY
Estimated EPS:-$0.102
+68.9% YoY
Key Takeaways
Porch Group reported strong first quarter 2025 results for Porch Shareholder Interest, with revenue of $84.5 million, net income of $8.4 million, and Adjusted EBITDA of $16.9 million. The company's new model, focusing on commission and fee-based services after the sale of its insurance carrier into a reciprocal exchange, resulted in an 82% gross margin and significant year-over-year growth in Gross Profit and Adjusted EBITDA. The Reciprocal Exchange is reported as healthy and has secured a new reinsurance program.
Exceeded first quarter expectations for Porch Shareholder Interest.
Increased full year 2025 guidance for Porch Shareholder Interest.
Achieved 86% year-over-year growth in Porch Shareholder Interest Gross Profit.
Reported a significant increase in Porch Shareholder Interest Adjusted EBITDA to $16.9 million.
Revenue by Segment
Forward Guidance
Porch Group increased its full year 2025 guidance for Porch Shareholder Interest, reflecting confidence in its new business model and performance.
Positive Outlook
- Raised full year 2025 Revenue guidance for Porch Shareholder Interest to $400M - $420M.
- Raised full year 2025 Gross Profit guidance for Porch Shareholder Interest to $320M - $335M.
- Raised full year 2025 Adjusted EBITDA guidance for Porch Shareholder Interest to $60M - $70M.
- Mid-point of Revenue guidance increased by $10M.
- Mid-point of Gross Profit guidance increased by $10M.
Challenges Ahead
- Guidance does not include future results of the Reciprocal.
- GAAP reconciliation for future periods is not provided due to unreasonable effort.
- Certain information necessary for GAAP reconciliation is unavailable or dependent on future events.
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