Porch Group Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
View on SEC.govAbout 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.
FY2024 · Filed Feb 25, 2025
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, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue | $437,848 | $430,302 | $275,948 |
| Operating expenses: | |||
| Cost of revenue | 225,627 | 220,243 | 107,577 |
| Selling and marketing | 122,873 | 144,307 | 113,848 |
| Product and technology | 55,274 | 58,502 | 59,565 |
| General and administrative | 98,406 | 103,192 | 109,814 |
| Provision for doubtful accounts | 239 | 37,180 | 805 |
| Impairment loss on intangible assets and goodwill | — | 57,232 | 61,386 |
| Total operating expenses | 502,419 | 620,656 | 452,995 |
| Operating loss | (64,571) | (190,354) | (177,047) |
| Other income (expense): | |||
| Interest expense | (42,536) | (31,828) | (8,723) |
| Change in fair value of earnout liability | — | 44 | 13,822 |
| Change in fair value of private warrant liability | 691 | (444) | 14,486 |
| Change in fair value of derivatives | 5,869 | (4,261) | — |
| Gain on extinguishment of debt | 27,436 | 81,354 | — |
| Investment income and realized gains and losses, net of investment expenses | 13,697 | 8,285 | 1,174 |
| Other income, net | 28,702 | 3,893 | 571 |
| Total other income | 33,859 | 57,043 | 21,330 |
| Loss before income taxes | (30,712) | (133,311) | (155,717) |
| Income tax provision | (2,117) | (622) | (842) |
| Net loss | (32,829) | (133,933) | (156,559) |
| Other comprehensive income (loss): | |||
| Change in net unrealized loss, net of tax | (1,586) | 2,311 | (5,912) |
| Comprehensive loss | $(34,415) | $(131,622) | $(162,471) |
| Net loss per share - basic and diluted | $(0.33) | $(1.39) | $(1.61) |
| Weighted average shares outstanding used to compute net loss per share - basic and diluted | 99,585 | 96,057 | 97,351 |
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