First Quarter 2025 Financial & Operational Highlights [Financial Performance Summary](index=1&type=section&id=Financial%20Performance%20Summary) Porch Group's shareholder-owned businesses achieved strong Q1 2025 results, reporting **$84.5 million revenue**, **$8.4 million net income**, and an **82% gross margin** Q1 2025 Financial Highlights for Porch Shareholder Interest ($ in millions) | Metric | Q1 2025 | YoY Change | Gross Margin | | :--- | :--- | :--- | :--- | | Revenue | $84.5 | n/a | n/a | | Gross Profit | $69.1 | +86% | 82% | | Net Income (attributable to Porch) | $8.4 | n/a | n/a | | Adjusted EBITDA | $16.9 | +$33.6M | 20% | - Effective January 2, 2025, Porch Group sold its insurance carrier (HOA) to the newly formed Porch Reciprocal Exchange, shifting focus to 'Porch Shareholder Interest' results for predictability and cash flow alignment[2](index=2&type=chunk) [CEO Summary](index=1&type=section&id=CEO%20Summary) CEO Matt Ehrlichman highlighted the success of the new commission and fee-based business model, emphasizing strong Q1 results and increased full-year 2025 guidance - The business model is now described as simple, predictable, commission and fee-based, and higher margin[3](index=3&type=chunk) - Full-year 2025 guidance for Porch Shareholder Interest was raised to a midpoint of **$410 million in Revenue**, **$327.5 million in Gross Profit**, and **$65 million in Adjusted EBITDA**[3](index=3&type=chunk) - The Reciprocal successfully placed its new reinsurance program at a lower cost, marking the moment Porch Shareholders are no longer in the catastrophic weather claims business[3](index=3&type=chunk) [Operational Highlights & Key Performance Indicators (KPIs)](index=1&type=section&id=Operational%20Highlights%20%26%20Key%20Performance%20Indicators%20(KPIs)) The company completed the sale of its insurance carrier, implemented strategic price increases, and launched new consumer offerings, showing solid Q1 2025 performance - Porch sold its insurance carrier, Homeowners of America, to the Reciprocal and now holds a **$106 million surplus note** with an interest rate of **9.75% plus SOFR**[4](index=4&type=chunk) - In the Software and Data segment, Rynoh implemented a **20% price increase**, aligning with strategic pricing goals[4](index=4&type=chunk) Q1 2025 Key Performance Indicators | Segment | KPI | Value | | :--- | :--- | :--- | | **Insurance Services** | Reciprocal Written Premium | $96.9 million | | | Reciprocal Policies Written | 36.1 thousand | | **Software & Data** | Average Number of Companies | 24.1 thousand | | | Annualized Avg. Revenue per Company | $3,644 | | **Consumer Services** | Monetized Services | 71.0 thousand | | | Average Revenue per Monetized Service | $207 | Financial Condition [Balance Sheet and Liquidity](index=3&type=section&id=Balance%20Sheet%20and%20Liquidity) Porch Shareholder Interest's cash and investments increased to **$113.8 million** as of March 31, 2025, driven by strong operating cash flow Porch Shareholder Interest Cash & Investments ($ in millions) | Category | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Unrestricted cash, equivalents, & investments | $96.6 | $61.6 | | Restricted cash and cash equivalents | $17.2 | $28.2 | | **Total** | **$113.8** | **$89.9** | - The increase in cash position was primarily driven by Porch Shareholder Interest cash flow from operations of **$27.2 million**[9](index=9&type=chunk) - As of March 31, 2025, the outstanding principal for convertible debt was **$507.1 million**, split between 2028 and 2026 notes[11](index=11&type=chunk) [Post Balance Sheet Events](index=3&type=section&id=Post%20Balance%20Sheet%20Events) The Reciprocal successfully secured its 2025 reinsurance program, reducing risk and costs, and removing catastrophic weather risk from Porch Shareholders - The Reciprocal secured its 2025 reinsurance placements with over **40 A-Rated reinsurers**[12](index=12&type=chunk) - The new program lowers the Reciprocal's risk and reduces its cost of reinsurance compared to the prior year, meaning Porch Shareholders are no longer in the catastrophic weather claims business[12](index=12&type=chunk) [Full Year 2025 Financial Outlook](index=4&type=section&id=Full%20Year%202025%20Financial%20Outlook) Porch Group raised its full-year 2025 financial guidance for its Shareholder Interest businesses, reflecting confidence in its new model and strong Q1 performance [Updated 2025 Guidance](index=4&type=section&id=Updated%202025%20Guidance) The company increased its full-year 2025 guidance for Porch Shareholder Interest, raising revenue, gross profit, and Adjusted EBITDA at the midpoint Full Year 2025 Guidance for Porch Shareholder Interest | Metric | New 2025 Guidance | Previous 2025 Guidance | Increase at Midpoint | | :--- | :--- | :--- | :--- | | Revenue | $400m - $420m | $390m - $410m | $10m | | Gross Profit | $320m - $335m | $310m - $325m | $10m | | Adjusted EBITDA | $60m - $70m | $55m - $65m | $5m | - The financial guidance represents only the Porch Shareholder Interest and does not include the future results of the Reciprocal[14](index=14&type=chunk) Appendix: Detailed Financials & Non-GAAP Reconciliations [Segment Financial Results](index=9&type=section&id=Segment%20Financial%20Results) This section details unaudited Q1 2025 financial results by segment, showing Insurance Services as the largest contributor to revenue and Adjusted EBITDA Q1 2025 Segment Results ($ in thousands) | Segment | Revenue | Gross Profit | Adjusted EBITDA (Loss) | | :--- | :--- | :--- | :--- | | Insurance Services | $49,806 | $42,325 | $25,809 | | Software & Data | $21,999 | $16,493 | $4,571 | | Consumer Services | $14,721 | $12,231 | $(670) | | Corporate | n/a | n/a | $(12,849) | [Reconciliation of Non-GAAP Measures](index=12&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section reconciles Q1 2025 consolidated Net Income of **$3.7 million** to Adjusted EBITDA of **$16.9 million**, detailing cash flow components for shareholder interest versus consolidated entity Reconciliation of Net Income (Loss) to Adjusted EBITDA (Loss) ($ in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income (loss) | $3,736 | $(13,362) | | Adjustments (Interest, D&A, etc.) | $13,125 | $(3,426) | | **Adjusted EBITDA (Loss)** | **$16,861** | **$(16,788)** | - Porch Shareholder Interest generated **$27.2 million** in cash from operating activities, while the consolidated entity used **$11.2 million** in cash from operating activities in Q1 2025[43](index=43&type=chunk) [Key Performance Indicator Definitions](index=13&type=section&id=Key%20Performance%20Indicator%20Definitions) This section defines the key performance indicators used to evaluate business performance across the Insurance Services, Software & Data, and Consumer Services segments - Insurance Services KPIs include Reciprocal Written Premium (total premium written by the Reciprocal) and Reciprocal Policies Written[48](index=48&type=chunk) - Software & Data KPIs include Average Number of Companies and Annualized Average Revenue per Company[50](index=50&type=chunk)[51](index=51&type=chunk) - Consumer Services KPIs include Monetized Services (total number of services generating revenue) and Average Revenue per Monetized Service[51](index=51&type=chunk)[52](index=52&type=chunk) [Consolidated Financial Statements](index=15&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Porch Group, Inc., including Balance Sheets, Statements of Operations, and Cash Flows [Condensed Consolidated Balance Sheets](index=15&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows total assets of **$802.3 million** and total liabilities of **$834.3 million** as of March 31, 2025, with a total stockholders' deficit of **$32.0 million** Key Balance Sheet Items ($ in thousands) | Item | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Assets | $802,283 | $813,968 | | Total Liabilities | $834,332 | $857,193 | | Total Stockholders' Deficit | $(32,049) | $(43,225) | [Condensed Consolidated Statements of Operations](index=17&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2025, consolidated revenue was **$104.7 million**, with net income attributable to Porch shareholders of **$8.4 million**, a significant improvement year-over-year Q1 Statement of Operations Highlights ($ in thousands) | Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $104,745 | $115,443 | | Gross Profit | $65,448 | $37,077 | | Operating Loss | $(1,266) | $(34,668) | | Net Income (Loss) | $3,736 | $(13,362) | | Net Income (Loss) Attributable to Porch | $8,395 | $(13,362) | [Condensed Consolidated Statements of Cash Flows](index=18&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company reported a consolidated net cash outflow from operating activities of **$11.2 million** in Q1 2025, resulting in a net decrease in cash of **$30.8 million** for the quarter Q1 Cash Flow Highlights ($ in thousands) | Cash Flow From | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Operating Activities | $(11,178) | $8,465 | | Investing Activities | $(19,368) | $12,697 | | Financing Activities | $(229) | $(2,501) | | **Net Change in Cash** | **$(30,775)** | **$18,661** |

Q1 2025 Financial Performance - Porch Shareholder Interest revenue reached $84.5 million[16], with a gross profit of $69.1 million[16] and an impressive gross profit margin of 82%[16] - Adjusted EBITDA for Porch Shareholder Interest was $16.9 million[16], resulting in a 20% Adjusted EBITDA margin[16] - Cash flow from operations for Porch Shareholder Interest was $27.2 million[16] Segment Performance - Insurance Services generated $49.8 million in revenue with an 85% gross margin and a 52% Adjusted EBITDA margin[87] - Software & Data revenue was $22 million[34], with a 75% gross margin and a 21% Adjusted EBITDA margin[39] - Consumer Services revenue reached $14.7 million[34], boasting an 83% gross margin but a negative 5% Adjusted EBITDA margin due to investments for future growth[39] Guidance and Long-Term View - The company increased its 2025 Adjusted EBITDA guidance by $5 million to $65 million[59] (mid-point) - The company projects long-term (approximately 10 years) revenue of $2.3 billion and Adjusted EBITDA of $660 million[61] Reciprocal Performance - Reciprocal Written Premium (RWP) reached $97 million[16] - The Reciprocal maintains a healthy surplus of $198 million combined with non-admitted assets[18]

Company Overview - Porch Group, Inc. (PRCH) shares increased by 6.3% to close at $6.80, with trading volume significantly higher than usual, reflecting a 33.1% gain over the past four weeks [1] - The company is experiencing strong revenue growth and improved profitability due to its data-driven underwriting, expanded distribution partnerships, and innovative insurance and vertical software solutions [1] Earnings Expectations - Porch Group is expected to report a quarterly loss of $0.07 per share, which is a year-over-year change of +66.7%, with revenues projected at $80.45 million, down 30.3% from the previous year [2] - The consensus EPS estimate for Porch Group has been revised 63.2% higher in the last 30 days, indicating a positive trend that typically correlates with price appreciation [3] Industry Context - Porch Group is part of the Zacks Internet - Software industry, where another company, Braze, Inc. (BRZE), saw a 2.7% increase in its stock price, closing at $37.03, but has returned -11.3% over the past month [3] - Braze's consensus EPS estimate for its upcoming report remains unchanged at $0.05, reflecting a +225% change from the previous year, and it currently holds a Zacks Rank of 3 (Hold) [4]

Porch Group, Inc. (NASDAQ: PRCH ) , based in Seattle, is what's known as a vertical software and insurance platform specializing in home services, a broad category that includes things like home inspections, moving, real estate, utilities, and warranties. In addition to the software side of things,The mission of Grassroots Trading rests on the following principles: providing objective, unbiased, and balanced research, backed by solid data and completely void of emotional influences or preference for compani ...

Q4 2024 Earnings Presentation February 25, 2025 Copyright 2025 Porch Group, Inc. All rights reserved Disclaimers Financial Targets Porch is providing guidance and targets for future periods in this presentation based on current market conditions, assumptions, and expectations as of the date of this presentation. Actual results may vary due to a number of factors and there is no guarantee that we will be able to achieve these results. Please refer to the below for important disclaimers and a description of t ...

Core Viewpoint - Porch Group's stock experienced a significant surge, rising 76% over two trading days following its Q4 2024 earnings release, reaching a 52-week high [1][8]. Company Overview - Porch Group operates in the homebuying and home insurance sectors, aiming to create a flywheel effect where different business segments enhance each other [2]. - The company provides software utilized by 40% of the home inspection market, generating revenue and acquiring valuable data for home insurance pricing [3]. - Porch also serves 40% of the title transaction industry, gaining insights into home transaction timelines, which aids in marketing home insurance services [4][5]. - Additionally, Porch is the second-largest moving labor provider in the U.S., connecting homebuyers with moving professionals and earning fees from these services [6]. Financial Performance - In Q4 2024, Porch reported a gross profit margin of 89%, despite a 12% decline in revenues year-over-year [8]. - The company anticipates a gross margin of around 80% for 2025, a significant increase from the 48% margin achieved in 2024 [9]. - The formation of the Porch Insurance Reciprocal Exchange (PIRE) has allowed Porch to hold insurance policies and receive commissions, contributing to higher margins [10]. - Porch achieved record adjusted EBITDA of $42 million in Q4, with a full-year adjusted EBITDA of $7 million for 2024, and expects to increase this to $60 million in 2025 [11]. Stock Outlook - The average price target for Porch Group's stock is $5.84, indicating a potential downside of 16.40% from current levels, with a short-term upside potential of 19% based on recent earnings [12][13]. - Despite the recent stock surge, a short-term decline in share price would not be surprising given the rapid increase [13].

Financial Data and Key Metrics Changes - For the full year 2024, the company achieved adjusted EBITDA of $7 million, with Q4 adjusted EBITDA reaching a record $42 million, significantly better than guidance [9][12][52] - Total revenue for Q4 2024 was $100.4 million, a 12% decrease from the prior year, impacted by nonrecurring items and the divestiture of EIG [18][23] - The company provided 2025 adjusted EBITDA guidance of $60 million at the midpoint, representing a 15% adjusted EBITDA margin and an increase of over $50 million compared to 2024 [10][33] Business Line Data and Key Metrics Changes - In the Insurance segment, revenue was $72 million, with a strong 29% organic growth trend driven by increases in premium per policy [21] - Vertical Software revenue increased by 6% to $29.3 million, supported by SaaS price increases [21] - Insurance adjusted EBITDA was $48.8 million, a $17.2 million increase year-over-year, while Vertical Software adjusted EBITDA rose to $5 million, a $5.3 million increase [22] Market Data and Key Metrics Changes - The company reported gross written premium of $112 million, roughly flat compared to the prior year, with premium retention at 105% [20][45] - The gross loss ratio improved to 21% in Q4 2024, down from 36% the previous year, reflecting effective risk management [47] - The gross combined ratio for the full year was 79%, an improvement from 88% in the prior year [49] Company Strategy and Development Direction - The company aims to build one of the largest and most profitable homeowners insurance companies, focusing on advantaged underwriting and a customer-centric experience [6][8] - The formation of the Porch Insurance Reciprocal Exchange (PIRE) is expected to enhance financial predictability and margins [13][14] - The strategic focus includes scaling insurance premiums, innovating in vertical software, and expanding the data business [34][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2026 target of $100 million in adjusted EBITDA, emphasizing strong execution and growth momentum [12][51] - The company is positioned to benefit from a favorable insurance market dynamic, with plans to increase premiums and expand distribution [80] - Management remains conservative in assumptions regarding the housing market, expecting flat growth but ready to capitalize on any recovery [115] Other Important Information - The company ended 2024 with cash and investments of approximately $93 million, following the sale of HOA to PIRE [26] - The company plans to introduce new KPIs in 2025, focusing on gross profit instead of revenue less cost of revenue [30] Q&A Session Summary Question: Insights on 2025 growth expectations - Management noted strong execution and early signs of growth following the activation of the growth plan, with a focus on premium growth and agent engagement [58][62] Question: Agency engagement and new business - Management highlighted excitement among agents regarding PIRE and noted a reactivation of agency partnerships, leading to an increase in new policies [66][68] Question: Growth investments and M&A considerations - Management confirmed that current guidance is based on organic growth, with M&A opportunities being considered as incremental to existing plans [104][105] Question: Home Factors product performance - Management indicated strong interest from carriers in Home Factors, with ongoing development and a focus on expanding the product's market presence [93][95]

Core Viewpoint - Porch Group, Inc. reported quarterly earnings of $0.15 per share, significantly exceeding the Zacks Consensus Estimate of $0.06 per share, marking a 150% earnings surprise compared to a loss of $0.06 per share a year ago [1] Financial Performance - The company posted revenues of $100.36 million for the quarter ended December 2024, which was 8.95% below the Zacks Consensus Estimate and a decrease from $114.61 million in the same quarter last year [2] - Over the last four quarters, Porch Group has surpassed consensus EPS estimates two times and topped revenue estimates only once [2] Stock Performance - Porch Group shares have declined approximately 20.1% since the beginning of the year, contrasting with the S&P 500's gain of 1.7% [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at -$0.19 for the coming quarter and -$0.38 for the current fiscal year [4][7] - The estimate revisions trend for Porch Group is currently favorable, resulting in a Zacks Rank 2 (Buy), indicating expected outperformance in the near future [6] Industry Context - The Internet - Software industry, to which Porch Group belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Financial Performance and Growth - Porch Insurance Reciprocal Exchange (PIRE) was approved on October 25, 2024, and funded with approximately $106 million in surplus notes, expected to enhance financial performance and mitigate exposure to seasonality and catastrophic weather [49]. - The strategy focuses on profitable growth by recruiting a high-performing sales team to increase insurance gross written premiums and premium per policy [51]. - The company plans to launch new SaaS products and features while maintaining high customer retention rates and increasing prices [52]. - The company expanded its insurance operations through the acquisition of HOA, a leading property and casualty insurance company, effective January 1, 2025 [91]. - The company operates an insurance business through Porch Insurance Reciprocal Exchange (PIRE), which directly affects its operating revenue and financial health [90]. - The company's future growth depends on managing operations and growing the insurance business by limiting attrition and increasing revenue from home-related services [96]. - The company may not be able to access capital markets when needed, impacting its ability to fund operations and seize business opportunities [87]. - The cyclical nature of the insurance industry may lead to fluctuations in financial performance, affecting premium rates and underwriting capacity [97]. - The company incurred operating losses of $64.6 million, $190.4 million, and $177.0 million for the years ended December 31, 2024, 2023, and 2022, respectively, with an accumulated deficit of $754.9 million as of December 31, 2024 [213]. - The company has experienced net losses in each year since its inception, indicating challenges in achieving and sustaining profitability [213]. Risks and Challenges - Claims costs for PIRE may increase due to inflated material costs, supply chain shortages, and labor cost increases, potentially impacting the company's financial position [92]. - The company faces risks from its expansion into the insurance business, including higher than expected claims costs and external factors affecting financial condition [90]. - PIRE's financial strength ratings could be downgraded, which may adversely affect the company's financial condition [87]. - Severe weather events and climate change may require additional capital for the insurance business, impacting financial stability [102]. - Increased insurance claims and costs could reduce access to reinsurance, negatively affecting the company's operations [103]. - Development of new insurance products and market expansion efforts may require substantial expenditures and carry inherent risks [106]. - The company faces risks related to customer service quality, which could harm its reputation and sales if not maintained [128]. - The company is subject to market volatility affecting raw material prices, which may hinder its ability to pass cost increases to customers [132]. - The company is dependent on reinsurance, and any inability to secure adequate reinsurance could materially impact its business model and profitability [168]. - The company may face litigation risks related to the actions of its service providers, which could divert management's focus and resources [133]. Regulatory and Compliance Issues - The company is subject to various risks related to regulatory compliance, which could limit growth and impose additional costs on PIRE and HOA [87]. - The company is subject to extensive state regulation in its insurance businesses, which could limit growth and impose additional costs [220]. - The company is subject to evolving privacy and data protection regulations, which could increase operational costs and expose it to liabilities [229]. - Compliance with privacy and data protection laws may impose significant costs and burdens on the company, potentially delaying product development and affecting business relationships [232]. - Non-compliance with applicable laws could lead to increased scrutiny from regulatory agencies and result in significant financial penalties [239]. - The company is subject to numerous regulations, including the Truth in Lending Act and the Fair Credit Reporting Act, which impose specific compliance obligations [235]. Employee and Organizational Structure - As of December 31, 2024, the company had a total of 733 employees, including 729 full-time employees, and maintains good relationships with employees and contractors [82]. - The company emphasizes a decentralized operating model to maintain momentum and entrepreneurial culture during acquisitions [78]. - The company was certified as a Great Place to Work in 2023 and 2024, highlighting its commitment to a supportive and inclusive environment [81]. - Employee costs, the largest expense for the company, could increase due to external factors like inflation, impacting profitability [201]. Strategic Partnerships and Market Position - Partnerships with moving companies and utilities are being leveraged to expand access to high-value homebuyers and foster long-term customer relationships [54]. - The company is incorporating AI into its products and services, which presents both opportunities and regulatory risks [147]. - A business collaboration agreement with Aon includes a cash payment of approximately $25 million and additional payments in 2025, contingent on maintaining certain conditions [165]. Financial Management and Capital Structure - Management fees and commissions from PIRE are critical to the company's revenue; any reduction could adversely affect profitability [153]. - The company does not own PIRE but serves as its attorney-in-fact, which subjects it to risks associated with PIRE's financial health [151]. - Changes in the management fee rate could materially affect the company's revenues and profitability, as it is determined at Porch's discretion [160]. - PIRE holds surplus notes totaling $106 million, with payments subject to risk-based capital levels and regulatory approval [157]. - The company has net operating loss carryforwards of $430.4 million for U.S. federal income tax purposes and $289.7 million for state income tax purposes, which may expire if not utilized [219].

Financial Performance - Total revenue for Q4 2024 was $100.4 million, a decrease of 12% compared to Q4 2023, primarily due to $26 million of non-recurring revenue in the prior year[5] - GAAP net income for Q4 2024 was $30.5 million, an improvement of $33 million from a net loss of $2.5 million in Q4 2023[5] - Adjusted EBITDA for Q4 2024 was $41.8 million, a $30.1 million increase from $11.7 million in Q4 2023, driven by operational excellence[5] - Revenue for Q4 2024 was $100,361, a decrease of 12.4% compared to $114,612 in Q4 2023[50] - Operating income for Q4 2024 was $25,080, compared to $7,380 in Q4 2023, indicating a significant improvement[50] - Net income for the year ended December 31, 2024, was a loss of $32,829, an improvement from a loss of $133,933 in 2023[50] - Adjusted EBITDA for the three months ended December 31, 2024, was $41.797 million, with an Adjusted EBITDA margin of 42%, up from 10% in the same period of 2023[35] Insurance Segment Performance - Gross written premium for Q4 2024 was $112 million with approximately 206 thousand policies in force, reflecting a 50% increase in new business premiums compared to the prior year[5] - The Insurance segment achieved an Adjusted EBITDA of $48.812 million for Q4 2024, compared to $31.648 million in Q4 2023, reflecting a strong performance[35] - The gross loss ratio improved to 21% in Q4 2024 from 36% in the prior year, while the attritional loss ratio improved to 16% from 30%[8] - The Gross Loss Ratio for the three months ended December 31, 2024, was 21%, a significant improvement from 36% in 2023, while the Attritional Loss Ratio improved to 16% from 30%[36] - Policies in Force at the end of the period increased, contributing to a higher Annualized Revenue per Policy, which is a key performance indicator for the Insurance segment[39] Strategic Initiatives - Porch Group formed the Porch Insurance Reciprocal Exchange in January 2025, transitioning to a commission and fee-based model[2] - Porch Group's strategy includes leveraging unique data for advantaged underwriting and expanding its market presence in homeowners insurance[21] - The company is focused on developing new products and enhancing existing services to improve customer retention and attract new clients[25] - Porch Group's Premium Retention Rate is calculated based on renewed premiums over the last four quarters, indicating the effectiveness of its customer retention strategies[40] - The company is actively managing growth and expansion opportunities to build a strong consumer brand in the insurance market[25] - Forward-looking statements indicate expectations for improved margins and a more predictable financial profile through the operation of Porch Insurance Reciprocal Exchange[24] Financial Position - The company ended Q4 2024 with cash, cash equivalents, and investments totaling $350.4 million, a decrease of 12% from $397.6 million at the end of 2023[10] - Total current assets decreased from $481,078 in 2023 to $365,127 in 2024, a decline of 24.2%[48] - Total liabilities decreased from $935,076 in 2023 to $857,193 in 2024, a reduction of 8.3%[48] - Cash and cash equivalents at the end of the period were $196,782, down from $297,232 in the previous year[53] - The company reported a total of $75,281 in operating expenses for Q4 2024, down from $107,232 in Q4 2023, a decrease of 29.8%[50] Growth Metrics - Average Monthly Revenue per Account in the quarter is a key growth metric, reflecting the company's focus on increasing revenue from existing customers[44] - The average revenue generated per monetized service is a critical metric for measuring market penetration and service delivery effectiveness[46] - The company has focused on shifting the mix of services toward higher revenue services as part of its growth strategy[46]