Porch Group reports Q4 EPS (36c), consensus (28c)

Reports Q4 revenue $64.1M, consensus $66.28M. "I am proud of the work and contributions from the entire Porch team in 2022 as we dealt with impacts of inflation, challenging capital markets, unusual weather volatility, and a housing market that slowed substantially. Throughout this time, we stayed focused on what we can control and moved forward in our strategy and toward our target of Adjusted EBITDA profitability in the second half of 2023," said Matt Ehrlichman, Chief Executive Officer, Chairman and Founder of Porch Group. "We finished the year with another strong quarter of growth and cost discipline. We have announced our intention to apply for the creation of a Reciprocal Exchange to advance our insurance business, and I am excited about a future with expected higher and consistent margins, with reduced direct exposure to claims and weather events."