Group 1: Porch Group - Porch Group shares surged nearly 73%, contributing to a 7.6% increase in the Live segment [1] - The Texas Department of Insurance approved Porch's application to form Porch Insurance Reciprocal Exchange, aimed at increasing profitability and stabilizing earnings by reducing exposure to claims and weather risks [2] Group 2: Fiverr - Fiverr shares gained 34.6%, boosting the Work Pillar by 2.8%, driven by programs encouraging buyers to spend more on complex projects [3] - The company's revenues were up 8% year over year to $99.6 million, despite a 9% decline in active buyers to 3.8 million, with spending per buyer increasing by 9% to $296 [4] Group 3: Roblox - Roblox shares increased by 22%, with daily active users growing 27% to 88.9 million, marking the highest growth rate in around two years [6] - The company has captured 3% of its total addressable market in the gaming space, with total hours engaged on the platform rising by 29% [6] Group 4: Visa and Mastercard - Visa's payment volume grew 8% year over year, with U.S. payment volume up 5% and international volume up 10% [8] - Mastercard reported a revenue growth of 14% to $7.4 billion, driven by healthy consumer spending and a 17% increase in cross-border volume year over year [9] Group 5: Xerox - Xerox shares fell 16.7% as quarterly revenue of $1.5 billion missed analysts' estimates of $1.6 billion, representing a 7.5% year-over-year decline [11]

Financial Data and Key Metrics Changes - Revenue grew 12% to $111 million in Q2 2024, with revenue less cost of revenue increasing 10% to $19 million [7][14] - Adjusted EBITDA loss was $34.8 million, an improvement of $8.4 million over the prior year [15][19] - Gross written premium was $117 million, a decrease from the prior year as the company focused on profitability and nonrenewal of higher-risk policies [15][25] Business Line Data and Key Metrics Changes - The insurance segment accounted for 71% of total revenue, increasing from 65% in Q2 2023, with revenue of $78.3 million, a 22% increase year-over-year [16] - Vertical software segment revenue was $32.6 million, a decrease of 5% over the prior year, although software and services subscription businesses increased 4% [16][24] - The insurance segment's adjusted EBITDA loss was $27.3 million, an improvement of $3.9 million over the prior year [17] Market Data and Key Metrics Changes - The housing market declined 3% year-over-year in Q2, impacting the company's vertical software segment [12] - The average number of companies served was 29,000, slightly lower due to pressures in the mortgage title and inspection industries [24] - Average revenue per company per month increased 17% to $1,253, driven by lower seating and premium increases [24] Company Strategy and Development Direction - The company has refiled the reciprocal exchange application to optimize its structure and reduce exposure to unusual weather events [6][9] - The launch of Home Factors data products aims to improve risk assessment and marketing for third parties [6][10] - The company is focused on controlling operating expenses and improving profitability through price increases and strong cost control [15][19] Management's Comments on Operating Environment and Future Outlook - Management highlighted strong execution in underwriting and cost control despite macro headwinds and rare weather events impacting results [6][8] - The company expects to grow premiums nicely in 2025 and beyond, leveraging unique data for insurance profitability [27][35] - Management reiterated a commitment to achieving positive adjusted EBITDA for the full year 2024, despite the impact of catastrophic weather events [23][35] Other Important Information - The company has been recertified as a great place to work, with year-over-year improvements in key metrics [12] - The contribution of 18.3 million Porch shares to HOA is expected to bolster its balance sheet and support future premium growth [10][11] - The company is pursuing legal action related to the Vesttoo fraud discovered in 2023 [12] Q&A Session Summary Question: Thoughts on investing in growth versus derisking the portfolio until TDI approval - Management believes recent catastrophic events do not change their growth plans and they are ready to unlock growth opportunities [37][38] Question: Expectations for vertical software revenue in a housing recovery - Management expects vertical software revenue to outpace the national market recovery due to improved profitability and scalability [45][46] Question: Consideration of exiting markets like Houston due to weather events - Management does not plan to exit Houston, viewing it as a historically attractive market despite recent events [49][50] Question: Update on the reciprocal application and housing market assumptions - The reciprocal application was updated to reflect actual performance and milestones achieved, with a conservative outlook on the housing market [52][54] Question: Clarification on the $18 million share contribution to HOA - The share contribution was strategic to strengthen HOA's balance sheet and support future premium growth [56][58]

APorch Group Q2 2024 Earnings Presentation August 6, 2024 Copyright 2024 Porch Group, Inc. All rights reserved Presenters Matt Ehrlichman CEO, Chairman & Founder Shawn Tabak Chief Financial Officer Matthew Neagle Chief Operating Officer Michelle Taves GM Porch Group Media, Data & Marketing Copyright 2024 Porch Group, Inc. All rights reserved 2 Disclaimer Forward-Looking Statements Certain statements in this presentation may be considered forward-looking statements as defined by the Private Securities Litiga ...

Porch Group, Inc. (PRCH) came out with a quarterly loss of $0.65 per share versus the Zacks Consensus Estimate of a loss of $0.58. This compares to loss of $0.73 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -12.07%. A quarter ago, it was expected that this company would post a loss of $0.33 per share when it actually produced a loss of $0.21, delivering a surprise of 36.36%. Over the last four quarters, the company has sur ...

Table of Contents | --- | --- | |--------------------------------------------------------------------------|------------------------------------------------------------------------| | | | | UNITED STATES SECURITIES AND EXCHANGE Washington, D.C. 20549 | COMMISSION ___________________________________________________________ | | | 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 June 30, 2024 or o TRANSITION REPORT P ...

Exhibit 99.1 Porch Group Reports Second Quarter 2024 Results Solid performance in the second quarter SEATTLE, August 6, 2024 (BUSINESS WIRE) – Porch Group, Inc. ("Porch Group" or "the Company") (NASDAQ: PRCH), a homeowners insurance and vertical software platform, today reported second quarter results through June 30, 2024, with total revenue of $110.8 million, which increased 12% compared to the prior year. GAAP net loss was $64.3 million, an improvement of $22.6 million compared to the prior year, and Adj ...

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements. Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Porch Group imply an improvement in the company's underly ...

It has been almost a year since my first coverage of Porch Group (NASDAQ:PRCH), a company developing vertical software platforms and services to home service industries. I rated the stock neutral at the time, and with the stock currently trading at $2.3, up over 62% since my first coverage, it appears that I might have underestimated PRCH. Nonetheless, despite the very strong 76% price appreciation since last year, YTD performance has been underwhelming. YTD, PRCH is currently down -24% despite having reach ...

Porch Group, Inc. (NASDAQ:PRCH) Q1 2024 Results Conference Call May 8, 2024 5:00 PM ET Company Participants Lois Perkins - Investor Relations Matt Ehrlichman - CEO, Chairman, and Founder Shawn Tabak - Chief Financial Officer Matthew Neagle - Chief Operating Officer Efram Ware - President and General Manager, Homeowners of America Conference Call Participants Jonathan Bass - Stephens Ryan Tomasello - KBW Mark Schappell - Loop Capital Markets Lois Perkins Good afternoon. Everyone, and thank you for participat ...

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 March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to Commi ...