# Porch Group, Inc. (PRCH)

> Source: Nexqual · https://nexqual.com/PRCH · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Porch Group, Inc. (PRCH), nexqual.com/PRCH" · informational, not investment advice.

**Price:** USD 17.73 (-1.17% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 17.94 · day 17.65–18.29 · 52w 6.36–18.75 · market cap $2.01B · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $520M, net income -$13.4M (-2.6% margin), free cash flow $95.6M (SEC filings).
- Earnings quality: non-operating income -$35.4M vs operating income $40.5M over the last four quarters; P/E excluding non-operating income ≈210.8x (estimate: non-operating income taxed at the company's 35% effective rate).
- Total return with dividends: 1Y +8.3% vs S&P 500 +13.4%; 5Y -15.7% vs S&P 500 +76.9%.
- Next earnings: 2026-10-28, EPS estimate USD 0.02, revenue estimate $133M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $192M | $276M | $430M | $438M | $482M | $520M |
| Gross profit | $134M | $168M | $201M | $202M | $340M | — |
| Operating income | -$83.4M | -$177M | -$190M | -$64.6M | $36.6M | $40.5M |
| Net income | -$107M | -$157M | -$134M | -$32.8M | -$3.4M | -$13.4M |
| EPS (diluted) | -$1.14 | -$1.61 | -$1.39 | -$0.33 | -$0.03 | — |
| Free cash flow | -$35.7M | -$20.1M | $33.1M | -$32.2M | $66.0M | $95.6M |
| Gross margin | 69.5% | 61.0% | 46.7% | 46.1% | 70.5% | — |
| Operating margin | -43.3% | -64.2% | -44.2% | -14.7% | 7.6% | 7.8% |
| Net margin | -55.4% | -56.7% | -31.1% | -7.5% | -0.7% | -2.6% |
| Revenue growth | +166.2% | +43.4% | +55.9% | +1.8% | +10.2% | — |
| Cash + short-term investments | $325M | $252M | $294M | $192M | $57.3M | — |
| Total debt | $415M | $442M | $436M | $404M | $393M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E ex non-operating (est.) ≈210.8x · P/S 3.9x · P/FCF 21.1x · FCF yield 4.75% · Earnings yield -0.67%

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | B. Riley Securities | Target raised | Buy | $21 → $24 |
| 2026-10-14 | Craig-Hallum | Target raised | Buy | $20 → $22 |
| 2026-09-25 | Cantor Fitzgerald | Target raised | Overweight | $18 → $20 |
| 2026-08-03 | B. Riley Securities | Target raised | Buy | $19 → $21 |
| 2026-07-30 | Benchmark | Target raised | Buy | $22 → $23 |
| 2026-07-30 | Cantor Fitzgerald | Target raised | Overweight | $13 → $18 |
| 2026-07-30 | Keefe, Bruyette & Woods | Target raised | Market Perform | $16.25 → $16.5 |
| 2026-07-13 | Keefe, Bruyette & Woods | Downgrade | Outperform → Market Perform | $13 → $16.25 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +8.3% | -15.7% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +8.3% | -3.4% |
| Volatility (annualized) | 74.8% | 109.3% |
| Max drawdown | -61.0% (Oct 2025→Feb 2026) | -97.8% (Nov 2021→Oct 2023) |

## Peers (Insurance - Property & Casualty)
HMN (Horace Mann Educators Corporati) USD 46.3 -2.26% · HCI (HCI Group, Inc.) USD 204.06 -1.27% · SKWD (Skyward Specialty Insurance Gro) USD 60.39 -2.85% · SLDE (Slide Insurance Holdings, Inc.) USD 28.55 +2.88% · LMND (Lemonade, Inc.) USD 44.92 -1.08% · PLMR (Palomar Holdings, Inc.) USD 141.78 -1.90%

## More
Full page: https://nexqual.com/PRCH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in PRCH's own 10-K filed 2026-02-20 (https://www.sec.gov/Archives/edgar/data/1784535/000178453526000008/prch-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Aon Re | "In January 2024, we entered into a business collaboration agreement with Aon." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Reciprocal | $92.0M | 65.3% | +15.4% |
| Software & Data | $20.8M | 14.7% | -5.6% |
| Consumer Services | $18.1M | 12.9% | +2.7% |
| Insurance Services | $10.0M | 7.1% | +48.6% |
| Total revenue | $140.9M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Recurring | $124.3M | 88.3% | +24.5% |
| Insurance Carrier | $59.6M | 42.3% | +7.6% |
| Transactional | $9.8M | 7.0% | +6.7% |
| Total revenue | $140.9M | 100% | — |
The lines above cover 137.5% of total revenue.

## Company outlook (8-K filed 2026-07-29)

- "Financial guidance represents the businesses owned by Porch, and does not include the future expected results of the Reciprocal which is owned by its policyholder-members and not by Porch."
- "Porch provides full year 2026 guidance based on current market conditions, assumptions, and expectations as of the date of this release."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.02 | $0.01 | +211.1% | $133.4M | 3 |
| Next quarter (ends 2026-12-31) | $0.05 | $0.02 | +150.0% | $139.4M | 3 |
| Current fiscal year (ends 2026-12-31) | $0.08 | $-0.04 | -300.0% | $514.1M | 3 |
| Next fiscal year (ends 2027-12-31) | $0.31 | $0.13 | +136.5% | $618.9M | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±21.9%; last 8 reports averaged ±38%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 27 | 99.7% | ±21.9% |
| 2026-12-18 | 55 | 85.4% | ±26.6% |
| 2027-01-15 | 83 | 75.7% | ±28.8% |
| 2027-02-19 | 118 | 77.9% | ±35.0% |
| 2027-05-21 | 209 | 78.4% | ±46.4% |