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Sep 30, 2021
Porch Q3 2021 Earnings Report
Reported revenue of $62.8 million, a 192% increase year-over-year, and positive quarterly adjusted EBITDA for the first time as a public company.
Key Takeaways
Porch Group reported strong Q3 2021 financial results, with a 192% increase in revenue to $62.8 million and positive adjusted EBITDA of $873 thousand. The company increased its full-year 2021 revenue guidance to $195 million, representing 170% year-over-year growth.
Total revenue for Q3 2021 was $62.8 million, up 192% from $21.5 million in Q3 2020.
GAAP net loss for Q3 2021 totaled $5.1 million.
Adjusted EBITDA for Q3 2021 totaled $873 thousand (1% of total revenue).
Cash, cash equivalents, and restricted cash totaled $416 million as of September 30, 2021.
Porch
Porch
Forward Guidance
Porch increased its full year 2021 revenue guidance to $195 million, which would be 170% growth year-over-year.