Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-39142 PORCH GROUP, INC. (Exact name of registrant as specified in its charter) (State of Other Jurisdiction of incorporation or Organization) (I.R.S. Employer ...

Q3'22: Secure & Pay bundle Adj EBITDA (loss) ($m) Homeowners insurance differentiators Group Copyright 2024 Porch Group, Inc. All rights reserved 36 Term Definition Top Tier SaaS 2023 Metrics (1) Industry volumes includes new and existing home sales and refinancing volumes. (2) These are assumptions based on current information available. Strategy & Outlook Porch: A New Kind of Homeowners Insurance Company Copyright 2024 Porch Group, Inc. All rights reserved ● Unique data and CAC opportunity driven by strat ...

Financial Data and Key Metrics Changes - Revenue in Q4 2023 grew 79% to $115 million, exceeding prior guidance by $15 million [29] - Adjusted EBITDA profit was $12 million, an increase of $25 million compared to Q4 2022, and $8 million above guidance [29][30] - Adjusted EBITDA loss for the full year improved by $5 million to $44.5 million, driven by insurance profitability actions [13][33] Business Line Data and Key Metrics Changes - Insurance segment revenue was $86.9 million, a 179% increase year-over-year, representing 76% of total revenue [11][29] - Vertical Software segment reported an adjusted EBITDA loss of $300,000, indicating ongoing market pressures [5] - Average revenue per company per month increased 84% to $1,277, with monetized services rising 3% to 220,000 [16] Market Data and Key Metrics Changes - Gross written premiums were $525 million, relatively flat compared to the prior year, with a focus on non-renewals of higher risk policies [13] - Premium retention was 96%, approximately 10 percentage points lower than the prior year due to non-renewals [17] - Annualized revenue per policy increased to $1,120, driven by premium increases and lower reinsurance seating [36] Company Strategy and Development Direction - The company aims to build a large homeowners insurance company with lower volatility and higher margins, leveraging unique property data for pricing advantages [24][44] - Focus on selling proprietary insurance products while maintaining high-margin revenue from third-party carrier products [32] - Plans to unlock growth restrictions in certain geographies throughout 2024 to set up for significant growth in 2025 [56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability in 2024, with expected adjusted EBITDA improvement of $10 million to $15 million each quarter compared to the previous year [34][82] - The company has implemented various cost management strategies and expects operating expenses to decrease by more than 10% compared to 2023 [14] - Management highlighted the importance of risk reduction and effective underwriting in improving profitability [49][67] Other Important Information - The company repurchased $8 million par value of unsecured notes for $3 million cash, reducing 2026 debt maturity to $217 million [6] - A strategic business agreement with Aon was signed to support reinsurance and other services, providing $25 million upfront cash [12] - The company launched several new products and services in Q4, including a new HVAC micro-warranty and a CRM product for smaller inspectors [119] Q&A Session Summary Question: Update on reciprocal filings and audit - Management confirmed ongoing work with TDI and expressed confidence in the reciprocal structure, but did not provide specific timing [54] Question: Thoughts on adding policies with reduced risk - Management indicated a focus on profitability for 2024, with plans to unlock growth restrictions later in the year [56] Question: Corporate cost actions and profitability drivers - Corporate cost actions are complete, with benefits expected to show in 2024, alongside improved gross loss ratios and increased premium per policy [62] Question: Future capital allocation and M&A opportunities - Management does not expect significant M&A activity in 2024, focusing instead on executing current strategies [70] Question: Cross-sell opportunities between software and insurance - Management is optimistic about leveraging software access to enhance insurance offerings, despite current market challenges [72] Question: January housing trends and impact on software business - Management noted that improved housing sales in January could benefit the software business, but overall guidance remains cautious [78] Question: Seasonal adjusted EBITDA loss guidance for 2024 - Management expects a year-over-year improvement of $10 million to $15 million in adjusted EBITDA for each quarter, driven by profitability actions [82]

Porch Group, Inc. (NASDAQ:PRCH) Q3 2023 Results Conference Call November 7, 2023 5:00 PM ET Company Participants Lois Perkins - Head, IR Matt Ehrlichman - CEO, Chairman and Founder Shawn Tabak - CFO Matthew Neagle - COO Conference Call Participants Daniel Kurnos - Benchmark John Campbell - Stephens Jason Helfstein - Oppenheimer Josh Siegler - Cantor Fitzgerald Jason Kreyer - Craig-Hallum Capital Group Lois Perkins Good afternoon, everyone, and thank you for participating in Porch Group’s Third Quarter 2023 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ___________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to C ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39142 Porch Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Porch Group, Inc. (NASDAQ:PRCH) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants Lois Perkins - IR Matt Ehrlichman - Founder, Chairman & CEO Shawn Tabak - CFO Matthew Neagle - COO Malcolm Conner - VP and GM, Home Services and Warranty Conference Call Participants Joshua Siegler - Cantor Fitzgerald Austin Hayes - Stephens Inc. Cal Bartyzal - Craig-Hallum Daniel Kurnos - The Benchmark Company Ryan Tomasello - KBW Jason Helfstein - Oppenheimer Lois Perkins Good afternoon, everyon ...

^Porch Copyright 2023 Porch Group, Inc. All rights reserved Matthew Neagle Chief Operating Officer Copyright 2023 Porch Group, Inc. All rights reserved Forward-Looking Statements Nothing in this release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the ...

Q1 2023 Earnings Presentation May 10, 2023 Copyright 2023 Porch Group, Inc. All rights reserved Matt Ehrlichman CEO, Chairman & Founder Matthew Neagle Chief Operating Officer Copyright 2023 Porch Group, Inc. All rights reserved Disclaimers Certain statements in this presentation may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or ...

Financial Data and Key Metrics Changes - In Q1 2023, revenue grew by 37% to $87 million, driven by growth in the insurance segment, while adjusted EBITDA loss was $22 million [18][28] - The gross loss ratio for HOA was 79%, an improvement from 81% in the prior year, with a significant portion attributed to catastrophic events [1][32] - Adjusted EBITDA loss was $21.9 million, a decrease from the prior year, primarily due to reinsurance market dynamics [2][32] Business Line Data and Key Metrics Changes - The insurance segment revenue was $58.7 million, reflecting a 101% increase year-over-year, driven by strong growth in the warranty business and increased premiums per policy [38] - Vertical Software revenue decreased by 17% to $28.6 million due to a 26% decline in the housing market [29] - Gross written premium for the insurance segment was $115 million, a 12% increase year-over-year, with annualized revenue per policy rising to $612, an 82% increase from $330 in Q1 2022 [8][29] Market Data and Key Metrics Changes - The average number of companies served was 30,600, a 20% increase year-over-year, with average revenue per company per month rising to $951, a 15% increase [7] - The home sales industry experienced a 26% decline year-over-year, impacting the software and moving services businesses [23] Company Strategy and Development Direction - The company plans to continue developing new software and bundled solutions to enhance consumer engagement and increase revenue per homebuyer [9] - The launch of Porch Warranty and the upcoming Porch Insurance brand are part of the strategy to create differentiated offerings for consumers [9][10] - The company is focused on transitioning to a Reciprocal Exchange to reduce weather volatility and enhance profitability [34][36] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment in Q1 2023 was similar to Q4 2022, with ongoing challenges from the housing market and weather conditions [27] - The company expects adjusted EBITDA to be profitable in the second half of the year, driven by pricing increases and improved market conditions [3][32] - Management expressed confidence in the long-term growth potential despite current market headwinds [27][83] Other Important Information - The company successfully issued $330 million in senior secured convertible notes, reducing debt maturity and bolstering the balance sheet with $102 million in cash [4][33] - The company ended Q1 2023 with $272 million in cash and investments, including $165 million expected to transfer to the Reciprocal upon approval [40] Q&A Session Summary Question: Can you discuss the impact of the Reciprocal Exchange on P&L and capital structure? - Management indicated that the Reciprocal Exchange would lead to changes in revenue and margins, with a focus on maintaining a strong capital base for growth [51][105] Question: What is driving confidence in achieving a 62% gross loss ratio for the full year? - Management explained that Q1 typically has higher loss ratios due to seasonality, and they expect improvements as higher-risk policies roll off and pricing increases take effect [63][75] Question: Can you provide insights on warranty expansion and its contribution to revenue? - Management highlighted the rapid growth of the warranty business, emphasizing multiple product offerings and strong market positioning [59][60]