Porch Group (PRCH) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 13% YoY to $143.9M; Adjusted EBITDA excluding the Reciprocal increased 116% to $44.5M, and net income attributable to common stockholders was $12.2M versus a $10.9M loss.

• Reciprocal policies written grew 42% YoY; Insurance Services recorded its sixth consecutive Rule of 80 quarter, supporting higher FY 2026 guidance.

• Allied Trust is expected to add scale and support 2027 combined targets, subject to closing conditions and regulatory approvals.

Financial highlights

• Consolidated revenue was $143.9M, up 13% YoY; revenue for owned segments excluding the Reciprocal was $140.8M, up 22%.

• Consolidated gross profit was $107.9M, up 12% YoY; operating income rose 11% to $18.1M.

• Adjusted EBITDA excluding the Reciprocal was $44.5M, up 116% YoY; consolidated net income was $9.0M versus a $1.0M loss.

• Net income attributable to common stockholders was $12.2M versus a $10.9M loss in Q3 2025.

• Nine-month revenue rose 13% to $405.9M; Adjusted EBITDA excluding the Reciprocal rose 94% to $103.3M, and operating cash flow was $113.8M.

Outlook and guidance

• FY 2026 revenue guidance excluding the Reciprocal rose to $518M–$523M from $506M–$517M; midpoint implies 24% YoY growth.

• FY 2026 gross profit guidance excluding the Reciprocal rose to $438M–$443M from $419M–$429M; midpoint implies 28% growth and 85% gross margin.

• FY 2026 Adjusted EBITDA guidance excluding the Reciprocal rose to $135M–$140M from $119M–$125M; midpoint implies 79% YoY growth, and positive full-year net income remains expected.

• Initial 2027 combined targets, assuming a full year of Allied contributions, are RWP above $900M, over 360,000 Reciprocal policies written, and Adjusted EBITDA excluding the Reciprocal above $180M.

• Longer-term organic premium growth objective is 20%+; medium-term targets are $3B premium and $660M Adjusted EBITDA, with no timeline stated.