Porch(PRCH) - 2024 Q1 - Quarterly Results

• Total revenue of $115.4 million, an increase of 32% or $28.1 million compared to prior year (first quarter 2023: $87.4 million), driven by the Insurance segment, including increases in premium per policy. • Revenue less cost of revenue of $39.6 million, 34% of total revenue (first quarter 2023: $36.1 million, 41% of total revenue). Vertical Software Segment margin improved ~600bps, driven by price increases and strong cost control. Insurance Segment margin was impacted by $36 million of net catastrophic w ...