Porch Group, Inc.

Porch Group Announces Agreement to Acquire Allied Trust

Porch Group and its Reciprocal signed a definitive agreement to acquire Allied Trust's insurance carrier and managing general agency, expanding coverage into Louisiana, Texas, South Carolina, and North Carolina. The deal is expected to add roughly $200 million of Reciprocal Written Premium and $25 million of Adjusted EBITDA (Excluding Reciprocal) in the first full year, at an acquisition multiple under four times for Porch Group. Total consideration includes a $55M base cash price plus $50M deferred for the carrier, and $95M ($75M cash + $20M PRCH shares) for the MGA, with closing expected in Q1 2027 pending regulatory approvals. Assuming a January 1, 2027 close, management targets 2027 results of over $900M RWP, 360K+ policies written, and $180M+ Adjusted EBITDA, while separately planning an at-the-market equity program that could add growth capital but also dilution.

•12d ago

Porch Group Reports Second Quarter 2026 Results

Porch Group reported Q2 2026 results that exceeded expectations, with consolidated revenue of $140.9 million, up 12% year-over-year, and net income attributable to Porch of $5.6 million. Adjusted EBITDA (Excluding Reciprocal) grew 150% to $39.1 million, driven by a 38% increase in Insurance Services revenue and $139.8 million in Reciprocal Written Premium. The company raised full-year 2026 guidance for Porch-Owned revenue to $506M-$517M and Adjusted EBITDA to $119M-$125M, citing strong capacity and expanding top-of-funnel activity.

•2mo ago

Porch Group Announces Purchase of PRCH Shares from the Reciprocal

Porch Group repurchased 2.1 million shares of its common stock from its Porch Reciprocal Exchange subsidiary for $15 million in cash. The transaction was executed by Porticus Reinsurance Ltd., a captive subsidiary, at a price of $7.17 per share, reflecting the Nasdaq closing price on March 31, 2026. This move converts equity holdings into cash for the Reciprocal, boosting its statutory surplus to approximately $165 million and supporting over $800 million in underwriting capacity. The deal is separate from the company’s exhausted open-market buyback program and was completed following regulatory approvals from Texas and the Cayman Islands.

•4mo ago

Porch Group Launches Insurance in Michigan

Porch Group announced that its Homeowners of America (HOA) insurance brand has launched in Michigan. This marks the 22nd state in which HOA operates, expanding the company's distribution footprint. Management views this as a step in executing its growth plan to drive premium growth and cash flow through disciplined underwriting.

•5mo ago

Porch Group Reports First Quarter 2026 Results

Porch Group reported first quarter 2026 Porch Shareholder Interest revenue of $109.4 million, up 29% year-over-year, driven primarily by a 50% surge in Insurance Services revenue. The company raised its full-year 2026 guidance, increasing its revenue outlook to $495 million to $507 million and Adjusted EBITDA to $103 million to $109 million, citing strong premium growth and new customer additions. Despite the revenue growth, Porch posted a net loss of $4.7 million compared to a profit in the prior year period, while completing a $2.5 million share repurchase.

•5mo ago