Overview
Porch Group Q3 revenue of $115.1 mln beats analyst expectations
Adjusted EBITDA for Q3 beats consensus, reaching $20.6 mln
Company raises gross profit and adjusted EBITDA guidance, driven by insurance services
Outlook
Porch Group raises full-year revenue guidance to $410 mln-$420 mln, from prior outlook of $405 mln to $425 mln
Company expects full-year Adjusted EBITDA of $70 mln
Porch prioritizes Reciprocal surplus generation to scale premiums in 2026
Result Drivers
INSURANCE SERVICES - Strong quoting activity and agency appointments drove results in Insurance Services
SOFTWARE & DATA INNOVATION - Continued introduction of new Home Factors in Software & Data segment
CONSUMER SERVICES PARTNERSHIPS - Partnership efforts progressed well, with lower warranty claims
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $115.10 mln | $111.16 mln (7 Analysts) |
Q3 Net Income | -$10.90 mln | ||
Q3 Adjusted EBITDA | Beat | $20.60 mln | $16.68 mln (8 Analysts) |
Q3 Cash & Investments | $132.10 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Porch Group Inc is $20.50, about 28.7% above its November 4 closing price of $14.61
The stock recently traded at 95 times the next 12-month earnings vs. a P/E of 139 three months ago
Press Release: ID:nBw4rC9GQa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)