Porch Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 09:06 pm
Share
Porch Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 98.77 million compared to USD 70.92 million a year ago. Net loss was USD 86.96 million compared to USD 27.33 million a year ago. Basic loss per share from continuing operations was USD 0.91 compared to USD 0.28 a year ago.
For the six months, sales was USD 186.13 million compared to USD 134.48 million a year ago. Net loss was USD 125.7 million compared to USD 36.61 million a year ago. Basic loss per share from continuing operations was USD 1.32 compared to USD 0.38 a year ago.
Porch Group, Inc. is a provider of a vertical software and insurance platform. The Company offers differentiated products and services, with homeownersâ insurance at the center of this relationship. The Company serves approximately 30,000 companies, such as home inspectors, mortgage companies, and title companies. The Company has two segments: the Vertical Software segment and the Insurance segment. The Vertical Software segment provides software and services to inspection, mortgage and title companies on a subscription and transactional basis. The segment operates several key businesses, including inspection software and services, title insurance software, mortgage software, moving services and others. The Insurance segment provides consumers with insurance and warranty products. The Insurance segment includes Homeowners of America, a wholly owned insurance carrier, Porticus Reinsurance, its Cayman Islands captive reinsurer, and Porch Warranty, among other warranty brands.
PORCH GROUP, INC. 
