Porch Group Q1 adjusted EBITDA beats estimates, revenue up 29% on insurance services growth

Porch

28/04/2026 21:10

Overview

U.S. homeowners insurer's Q1 Shareholder Interest revenue rose 29% yr/yr to $109.4 mln

Q1 adjusted EBITDA beat analyst expectations

Company raised full-year 2026 revenue, gross profit, and adjusted EBITDA guidance

Outlook

Porch Group raises 2026 revenue guidance to $495 mln-$507 mln from $475 mln-$490 mln

Company now expects 2026 gross profit of $401 mln-$413 mln, up from prior $385 mln-$400 mln

Porch Group sees 2026 adjusted EBITDA of $103 mln-$109 mln, previously $98 mln-$105 mln

Result Drivers

INSURANCE SERVICES GROWTH - Q1 Insurance Services revenue rose 50% yr/yr, driven by rapid premium growth and new customer additions, per CEO Matt Ehrlichman

HIGHER POLICY SALES - Reciprocal Policies Written grew 33% yr/yr, reflecting increased policy sales

INCREASED QUOTE VOLUME & CONVERSION - Agency branch locations rose 181% and quote volumes rose 69% yr/yr, supporting 196% growth in RWP from new customers

Company press release: ID:nBw4CyCVca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Shareholder Interest Revenue
$109.40 mln
Q1 Shareholder Interest Net Income
-$4.70 mln
Q1 Adjusted EBITDA
Beat
$19.70 mln
$12.87 mln (7 Analysts)
Q1 Cash & Investments
$134.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Porch Group Inc is $15.00, about 86.3% above its April 27 closing price of $8.05

The stock recently traded at 78 times the next 12-month earnings vs. a P/E of 83 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)