Insurer Porch Group raises 2025 guidance

Overview

• Porch Group Q2 revenue rises to $107 mln

• Adjusted EBITDA for Q2 at $15.6 mln, beating analyst estimates, per LSEG data

Outlook

• Porch raises 2025 revenue guidance to $405 mln-$425 mln

• Porch increases 2025 gross profit guidance to $328 mln-$342 mln

• Porch lifts 2025 adjusted EBITDA guidance to $65 mln-$70 mln

Result Drivers

• PARTNERSHIPS - Renewed and new insurance agency partnerships, including Goosehead Insurance, contributed to Q2 results

• RECIPROCAL EXCHANGE - Formation of Porch Reciprocal Exchange impacts reporting and financial results

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "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 $14.50, about 11.3% above its August 4 closing price of $12.86

• The stock recently traded at 149 times the next 12-month earnings vs. a P/E of 288 three months ago

Press Release: ID:nBw96sQY2a