Porch Group Inc

For the period ended Dec 31, 2023. Filed Mar 15, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 15, 2024

PRCH$20.64+4.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

	December 31,
	2023	2022
Assets
Current assets
Cash and cash equivalents	$258,418	$215,060
Accounts receivable, net	24,288	26,438
Short-term investments	35,588	36,523
Reinsurance balance due	83,582	299,060
Prepaid expenses and other current assets	13,214	11,293
Deferred policy acquisition costs	27,174	8,716
Restricted cash and cash equivalents	38,814	13,545
Total current assets	481,078	610,635
Property, equipment, and software, net	16,861	12,240
Goodwill	191,907	244,697
Long-term investments	103,588	55,118
Intangible assets, net	87,216	108,255
Long-term insurance commissions receivable	13,429	12,265
Other assets	5,314	5,847
Total assets	$899,393	$1,049,057
Liabilities and Stockholders’ Equity (Deficit)
Current liabilities
Accounts payable	$8,761	$6,268
Accrued expenses and other current liabilities	59,396	39,742
Deferred revenue	248,683	270,690
Refundable customer deposits	17,980	20,142
Current debt	244	16,455
Losses and loss adjustment expense reserves	95,503	100,632
Other insurance liabilities, current	31,585	61,710
Total current liabilities	462,152	515,639
Long-term debt	435,495	425,310
Other liabilities	37,429	28,755
Total liabilities	935,076	969,704
Commitments and contingencies (Note 16)
Stockholders’ equity (deficit)
Common stock, $0.0001 par value per share:	10	10
Authorized shares – 400 million and 400 million, at December 31, 2023 and 2022, respectively
Issued and outstanding shares – 97.1 million and 98.5 million, at December 31, 2023 and 2022, respectively
Additional paid-in capital	690,223	670,537
Accumulated other comprehensive loss	(3,860)	(6,171)
Accumulated deficit	(722,056)	(585,023)
Total stockholders’ equity (deficit)	(35,683)	79,353
Total liabilities and stockholders’ equity (deficit)	$899,393	$1,049,057

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.