Porch Group Inc
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
PRCH$21.95+6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive Loss
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | $430,302 | $275,948 | $192,433 |
| Operating expenses: | |||
| Cost of revenue | 220,243 | 107,577 | 58,725 |
| Selling and marketing | 144,307 | 113,848 | 84,273 |
| Product and technology | 58,502 | 59,565 | 47,005 |
| General and administrative | 103,192 | 109,814 | 84,740 |
| Provision for doubtful accounts | 37,180 | 805 | 1,055 |
| Impairment loss on intangible assets and goodwill | 57,232 | 61,386 | — |
| Total operating expenses | 620,656 | 452,995 | 275,798 |
| Operating loss | (190,354) | (177,047) | (83,365) |
| Other income (expense): | |||
| Interest expense | (31,828) | (8,723) | (5,757) |
| Change in fair value of earnout liability | 44 | 13,822 | (18,519) |
| Change in fair value of private warrant liability | (444) | 14,486 | (15,389) |
| Change in fair value of derivatives | (4,261) | — | — |
| Gain on extinguishment of debt | 81,354 | — | 5,110 |
| Investment income and realized gains, net of investment expenses | 8,285 | 1,174 | 701 |
| Other income, net | 3,893 | 571 | 340 |
| Total other income (expense) | 57,043 | 21,330 | (33,514) |
| Loss before income taxes | (133,311) | (155,717) | (116,879) |
| Income tax benefit (provision) | (622) | (842) | 10,273 |
| Net loss | (133,933) | (156,559) | (106,606) |
| Other comprehensive income (loss): | |||
| Change in net unrealized loss, net of tax | 2,311 | (5,912) | (259) |
| Comprehensive loss | $(131,622) | $(162,471) | $(106,865) |
| Net loss per share - basic and diluted (Note 18) | $(1.39) | $(1.61) | $(1.14) |
| Shares used in computing basic and diluted net loss per share | 96,057 | 97,351 | 93,885 |
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