Porch Group, Inc.

For the period ended Dec 31, 2025. Filed Feb 20, 2026.

About 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.

FY2025 · Filed Feb 20, 2026

PRCH$20.64+4.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

December 31, 2025 · December 31, 2024
Assets
Current assets
Cash and cash equivalents		$44,676	$167,643
Accounts receivable, net		11,307	19,106
Short-term investments		12,616	24,099
Reinsurance balance due		—	92,303
Prepaid expenses		6,440	8,391
Deferred policy acquisition costs		—	17,542
Restricted cash and cash equivalents		8,503	29,139
Other current assets		4,666	6,904
Total current assets		88,208	365,127
Property, equipment, and software, net		27,607	22,542
Goodwill		191,907	191,907
Long-term investments		55,412	158,652
Intangible assets, net		30,492	68,746
Other assets		6,541	6,994
Assets of Reciprocal:	(1)
Cash and cash equivalents, including restricted		115,932	—
Accounts receivable, net		9,054	—
Short-term investments		7,664	—
Reinsurance balance due		37,653	—
Prepaid expenses and other current assets		3,945	—
Deferred policy acquisition costs		26,707	—
Intangible assets, net		23,319	—
Long-term investments		172,978	—
Other assets		4	—
Total assets		$797,423	$813,968

(1)Porch Reciprocal Exchange (the “Reciprocal”) is a consolidated variable interest entity not owned by Porch Group, Inc. (see Note 3 in the Notes to Consolidated Financial Statements).

December 31, 2025 · December 31, 2024
Liabilities and Stockholders' Equity (Deficit)
Current liabilities
Accounts payable		$4,046	$4,538
Accrued expenses and other current liabilities		38,877	41,245
Deferred revenue		4,552	248,669
Refundable customer deposits		12,535	12,629
Current debt		7,772	150
Losses and loss adjustment expense reserves		—	67,785
Other insurance liabilities, current		—	39,140
Total current liabilities		67,782	414,156
Long-term debt		385,060	403,788
Other liabilities		14,987	39,249
Liabilities of Reciprocal:	(1)
Accounts payable and other current liabilities		13,838	—
Deferred revenue		219,559	—
Losses and loss adjustment expense reserves		49,159	—
Other insurance liabilities, current		23,834	—
Other liabilities		818	—
Total liabilities		775,037	857,193
Commitments and contingencies (Note 19)
Stockholders' equity (deficit)
Common stock, $0.0001 par value per share		11	10
Authorized shares – 400 million and 400 million, at December 31, 2025, and December 31, 2024, respectively
Issued and outstanding shares – 124.1 million and 119.8 million, at December 31, 2025, and December 31, 2024, respectively	(2)
Additional paid-in capital		622,996	717,066
Accumulated other comprehensive income (loss)		642	(5,446)
Accumulated deficit		(648,268)	(754,855)
Porch stockholders' deficit		(24,619)	(43,225)
Noncontrolling interest related to the Reciprocal		47,005	—
Total stockholders' equity (deficit)		22,386	(43,225)
Total liabilities and stockholders' equity (deficit)		$797,423	$813,968

(1)The Reciprocal is a consolidated variable interest entity not owned by Porch Group, Inc. (see Note 3 in the Notes to Consolidated Financial Statements).

(2)Includes 18.3 million shares of common stock held by Homeowners of America Insurance Company (“HOA”) as of December 31, 2024, and held by the Reciprocal as of December 31, 2025 (following the distribution of such shares to the Reciprocal in connection with the sale of HOA to the Reciprocal in the first quarter of 2025).

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