Porch Group Inc
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 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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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
(all numbers in thousands unless otherwise state, except per share data)
| Three Months Ended June 30, · Six Months Ended June 30, | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2024 · 2023 · 2024 · 2023 | |||||||||
| Revenue | $110,844 | $98,765 | $226,287 | $186,134 | |||||
| Operating expenses: | |||||||||
| Cost of revenue | 91,646 | 81,330 | 167,490 | 132,605 | |||||
| Selling and marketing | 33,197 | 34,637 | 67,145 | 67,222 | |||||
| Product and technology | 14,731 | 15,495 | 28,651 | 29,445 | |||||
| General and administrative | 24,371 | 22,779 | 50,629 | 48,608 | |||||
| Provision for (recovery of) doubtful accounts | (622) | 48,718 | (481) | 48,955 | |||||
| Impairment loss on intangible assets and goodwill | — | 55,211 | — | 57,232 | |||||
| Total operating expenses | 163,323 | 258,170 | 313,434 | 384,067 | |||||
| Operating loss | (52,479) | (159,405) | (87,147) | (197,933) | |||||
| Other income (expense): | |||||||||
| Interest expense | (10,326) | (8,775) | (21,113) | (10,963) | |||||
| Change in fair value of private warrant liability | 1,451 | 15 | 1,026 | 360 | |||||
| Change in fair value of derivatives | (8,207) | (2,950) | (6,724) | (2,950) | |||||
| Gain on extinguishment of debt | — | 81,354 | 4,891 | 81,354 | |||||
| Investment income and realized gains, net of investment expenses | 3,526 | 1,249 | 7,170 | 2,007 | |||||
| Other income, net | 2,400 | 1,578 | 25,078 | 2,340 | |||||
| Total other income (expense) | (11,156) | 72,471 | 10,328 | 72,148 | |||||
| Loss before income taxes | (63,635) | (86,934) | (76,819) | (125,785) | |||||
| Income tax benefit (provision) | (688) | (29) | (866) | 82 | |||||
| Net loss | $(64,323) | $(86,963) | $(77,685) | $(125,703) | |||||
| Other comprehensive income (loss): | |||||||||
| Change in net unrealized loss, net of tax | (208) | (780) | (1,038) | 95 | |||||
| Comprehensive loss | $(64,531) | $(87,743) | $(78,723) | $(125,608) | |||||
| Net loss per share - basic and diluted (Note 17) | $(0.65) | $(0.91) | $(0.79) | $(1.32) | |||||
| Shares used in computing basic and diluted net loss per share | 99,193 | 95,732 | 98,353 | 95,472 | |||||
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