Record-Breaking Adjusted EBITDA
Porch Group achieved its highest ever Q1 adjusted EBITDA of $17 million, representing a 20% margin and a $34 million increase over the prior year.
Increased Revenue and Strong Margins
The company reported Q1 revenue of $85 million and realized 82% gross margins, resulting in a gross profit of $69 million, an 86% increase compared to Q1 2024.
Positive Cash Flow
Porch Group generated $27 million of positive cash flow from operations for the quarter, significantly surpassing expectations.
Raised 2025 Guidance
The company increased its 2025 revenue guidance to $400 million-$420 million and adjusted EBITDA guidance to $60 million-$70 million.
Successful Reinsurance Renewals
Porch completed reinsurance renewals, reducing exposure to catastrophic weather claims and lowering reinsurance costs.
Strong Balance Sheet
Porch Group's cash plus investments were $114 million at the end of Q1 2025, and the Reciprocal's surplus combined with non-admitted assets reached $198 million.
Growth in Reciprocal Written Premium
Reciprocal written premium increased by approximately 10% year-over-year, reaching $97 million.