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.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(32,829) | $(133,933) | $(156,559) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | |||
| Depreciation and amortization | 25,522 | 24,415 | 27,930 |
| Provision for doubtful accounts | 239 | 37,180 | 805 |
| Impairment loss on intangible assets and goodwill | — | 57,232 | 61,386 |
| Gain on extinguishment of debt | (27,436) | (81,354) | — |
| Loss on divestiture of business | 5,331 | — | — |
| Change in fair value of private warrant liability | (691) | 444 | (14,486) |
| Change in fair value of contingent consideration | (3,442) | (5,664) | 6,944 |
| Change in fair value of derivatives | (5,869) | 4,217 | (13,822) |
| Stock-based compensation | 27,181 | 20,709 | 27,041 |
| Non-cash interest expense | 27,294 | 20,756 | 2,270 |
| Gain on settlement of contingent consideration | (14,930) | — | — |
| Other operating activities | (4,054) | 1,057 | 3,590 |
| Change in operating assets and liabilities, net of acquisitions and divestitures | |||
| Accounts receivable | (155) | 1,030 | (4,886) |
| Reinsurance balance due | (7,397) | 179,436 | (70,644) |
| Deferred policy acquisition costs | 9,632 | (18,458) | (4,716) |
| Accounts payable | (4,223) | 2,491 | (697) |
| Accrued expenses and other current liabilities | (10,663) | (1,386) | (6,519) |
| Losses and loss adjustment expense reserves | (27,718) | (5,129) | 38,683 |
| Other insurance liabilities, current | 7,555 | (30,125) | 21,686 |
| Deferred revenue | (437) | (21,583) | 66,254 |
| Refundable customer deposits | (5,445) | (13,925) | 6,537 |
| Other assets and liabilities, net | 10,853 | (3,481) | (8,533) |
| Net cash provided by (used in) operating activities | (31,682) | 33,929 | (17,736) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (523) | (851) | (2,350) |
| Capitalized internal use software development costs | (12,272) | (9,245) | (8,100) |
| Purchases of short-term and long-term investments | (110,925) | (91,015) | (52,506) |
| Maturities, sales of short-term and long-term investments | 67,789 | 46,832 | 21,906 |
| Proceeds from sale of business | 10,870 | — | — |
| Acquisitions, net of cash acquired | — | (1,974) | (38,628) |
| Net cash used in investing activities | (45,061) | (56,253) | (79,678) |
| Cash flows from financing activities: | |||
| Proceeds from line of credit | — | — | 5,000 |
| Proceeds from advance funding | — | 319 | 18,643 |
| Repayments of advance funding | — | (4,133) | (22,746) |
| Proceeds from issuance of debt | — | 116,667 | 10,000 |
| Repayments of principal | (23,368) | (10,150) | (5,150) |
| Cash paid for debt issuance costs | — | (4,694) | — |
| Repurchase of stock | — | (5,608) | (1,813) |
| Other financing activities | (339) | (1,450) | (2,707) |
| Net cash provided by (used in) financing activities | (23,707) | 90,951 | 1,227 |
| Net change in cash and cash equivalents & restricted cash and cash equivalents | (100,450) | 68,627 | (96,187) |
| Cash and cash equivalents & restricted cash and cash equivalents, beginning of period | 297,232 | 228,605 | 324,792 |
| Cash and cash equivalents & restricted cash and cash equivalents, end of period | $196,782 | $297,232 | $228,605 |
Consolidated Statements of Cash Flows - Continued
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental schedule of non-cash investing and financing activities | |||
| Non-cash consideration for acquisitions | $— | $— | $12,252 |
| Non-cash reduction in advance funding arrangement obligations | 94 | 11,763 | — |
| Share repurchases included in accrued expenses and other current liabilities | — | — | 2,539 |
| Supplemental disclosures | |||
| Cash paid for interest | $23,763 | $12,212 | $3,512 |
| Income tax refunds paid (received) | 621 | (2,287) | (674) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.