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Porch (PRCH)

Seattle-based Porch Group, the vertical software platform for the home, provides software and services to more than 10,500 home services companies such as home inspectors, moving companies, real estate agencies, utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, moving, security, TV/internet, home repair and improvement, and more.

Company profile

Ticker
PRCH
Exchange
Website
CEO
Joseph M. Beck / Thomas D. Hennessy
Employees
Incorporated
Location
Fiscal year end
Former names
PropTech Acquisition Corp
SEC CIK
Subsidiaries
American Home Protect, LLC • Americas Call Center, LLC • DataMentors Holdings, LLC • Elite Insurance Group, Inc. • Floify LLC • Guardian Small Business Consulting and Financial Services LLC • Hire A Helper LLC • Homeowners of America Holding Corporation • Inspection Support Limited Liability Company • iRoofing, LLC ...
IRS number
842587663

PRCH stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 Aug 22
29 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 282.08M 282.08M 282.08M 282.08M 282.08M 282.08M
Cash burn (monthly) 6.99M (no burn) 10.27M 7.43M (no burn) 525.92K
Cash used (since last report) 20.93M n/a 30.76M 22.27M n/a 1.58M
Cash remaining 261.15M n/a 251.32M 259.81M n/a 280.5M
Runway (months of cash) 37.4 n/a 24.5 35.0 n/a 533.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Aug 22 Matthew Neagle Common Stock Buy Acquire P No No 2.1976 100,000 219.76K 763,825
12 Aug 22 Sean Davis Kell Common Stock Buy Acquire P No No 3.134 16,100 50.46K 55,840
1 Jul 22 Matt Ehrlichman Common Stock Payment of exercise Dispose F No No 2.7 22,799 61.56K 9,773,720
1 Jul 22 Matt Ehrlichman Common Stock Payment of exercise Dispose F No No 2.7 5,700 15.39K 9,796,519
1 Jul 22 Matthew Neagle Common Stock Payment of exercise Dispose F No No 2.7 2,718 7.34K 663,825
1 Jul 22 Matthew Neagle Common Stock Payment of exercise Dispose F No No 2.7 1,779 4.8K 666,543
8 Jun 22 Regi Vengalil Common Stock Grant Acquire A No No 0 2,257 0 41,574
8 Jun 22 Regi Vengalil Common Stock Grant Acquire A No No 0 32,166 0 39,317
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Management Discussion
  • Total revenue increased by $19.4 million, or 38%, from $51.3 million in the three months ended June 30, 2021 to $70.8 million in the same period in 2022. The increase in revenue in 2022 is primarily driven by the 2022 and 2021 acquisitions, organic growth, and accelerated growth of these acquisitions. In April 2022, the Company acquired RWS for an aggregate purchase price of $45.7 million. During 2021, the Company acquired a number of businesses with an aggregate purchase price of $346.3 million as disclosed in the Company’s Annual Report on Form 10-K.  These acquisitions included V12 Data (acquired in January 2021), HOA (acquired in April 2021), Rynoh (acquired in May 2021), AHP (acquired in September 2021) and Floify (acquired in October 2021). Other than V12 Data, HOA and Rynoh, these businesses were not owned by the Company during the three months ended June 30, 2021 and, therefore no revenue was recognized from these businesses during that period.

Content analysis

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Positive
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Legalese
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Readability
H.S. sophomore Avg
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Removed: adjusting, consuming, CRM, earning, ERP, fewer, identify, ISN, monetization, multiyear, notice, past, quote, SEO, shifted