Porch Group Inc

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 7, 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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Contents

Condensed Consolidated Balance Sheets (Unaudited)

(all numbers in thousands unless otherwise stated, except per share data)

	September 30, 2024	December 31, 2023
Assets
Current assets
Cash and cash equivalents	$206,728	$258,418
Accounts receivable, net	21,318	24,288
Short-term investments	31,843	35,588
Reinsurance balance due	103,429	83,582
Prepaid expenses and other current assets	17,027	13,214
Deferred policy acquisition costs	16,575	27,174
Restricted cash and cash equivalents	9,950	38,814
Total current assets	406,870	481,078
Property, equipment, and software, net	21,141	16,861
Goodwill	191,907	191,907
Long-term investments	165,935	103,588
Intangible assets, net	73,273	87,216
Other assets	8,138	18,743
Total assets	$867,264	$899,393
Liabilities and Stockholders' Deficit
Current liabilities
Accounts payable	$5,145	$8,761
Accrued expenses and other current liabilities	46,946	59,396
Deferred revenue	251,777	248,683
Refundable customer deposits	13,126	17,980
Current debt	150	244
Losses and loss adjustment expense reserves	100,610	95,503
Other insurance liabilities, current	73,753	31,585
Total current liabilities	491,507	462,152
Long-term debt	398,882	435,495
Other liabilities	53,918	37,429
Total liabilities	944,307	935,076
Commitments and contingencies (Note 14)
Stockholders' deficit
Common stock, $0.0001 par value:	10	10
Authorized shares – 400 million and 400 million, at September 30, 2024, and December 31, 2023, respectively
Issued and outstanding shares – 118.9 million (1) and 97.1 million, at September 30, 2024, and December 31, 2023, respectively
Additional paid-in capital	709,364	690,223
Accumulated other comprehensive loss	(1,058)	(3,860)
Accumulated deficit	(785,359)	(722,056)
Total stockholders' deficit	(77,043)	(35,683)
Total liabilities and stockholders' deficit	$867,264	$899,393

(1)Includes 18.3 million shares of common stock held by Homeowners of America Insurance Company as of September 30, 2024.

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.