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Porch Group (PRCH) investor relations material
Porch Group Stephens Annual Investment Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Stephens Annual Investment Conference summary19 Nov, 2025
Business model and strategy
Focuses on homeowners insurance, leveraging unique property data to price risk more accurately and avoid bad risks, resulting in industry-leading loss ratios.
Built vertical software businesses in home inspection, title, mortgage, and roofing to collect proprietary data, now covering 90% of U.S. homes with 89 unique home factors.
Transitioned to a reciprocal exchange structure, moving insurance risk to policyholder-owned reciprocal, while earning high-margin fees and commissions.
Achieves 82% gross margins and 18% adjusted EBITDA margin, with $70 million adjusted EBITDA guidance for the year.
Clear growth path from $500 million to $3 billion in premiums over the next several years, targeting over $600 million adjusted EBITDA.
Data and technology advantage
Home inspection software used by over 40% of inspectors, providing detailed property data not economically feasible for traditional carriers to collect.
Proprietary data enables superior underwriting, allowing avoidance of high-risk customers and maintaining low loss ratios.
AI and advanced analytics are being applied to images and videos from inspections, expanding the depth and accuracy of property insights.
Data licensing business launched, with Home Factors data being tested by multiple carriers, showing strong predictive value for claims.
Data is sold on a per-address, per-factor basis via API, with plans to increase pricing as market adoption grows.
Financial performance and growth drivers
Insurance segment represents two-thirds of revenue, with software and consumer services making up the rest.
Premium to adjusted EBITDA conversion rate is 18%, significantly higher than industry peers.
Capital base at the reciprocal grew from $100 million to $152 million in nine months, supporting both organic growth and potential M&A.
Growth strategy balances organic expansion with potential acquisitions, using surplus capital at the reciprocal for M&A without diluting shareholders.
Share price fluctuations do not impact the ability to support premium growth or surplus needs.
How is Porch's data moat sustained long-term?
How will built-up reciprocal capital be deployed?
What is the long-term data licensing strategy?
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Next Porch Group earnings date
Q4 20256 Mar, 2026
Next Porch Group earnings date
Q4 20256 Mar, 2026
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Frequently asked questions
Porch Group Inc. operates a software platform in the United States and Canada. It offers a software solution that connects homeowners with home professionals for home improvement, maintenance, and repair work; and plan, execute, and track projects to completion. The company's software platform provides automated quotes on remodel or new construction projects for home professionals through cost database; details about project costs for pros and homeowners; and tools to measure contractor performance.
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