0001784535-26-000008
SEC filingPorch Group, Inc. reported total revenue of $482.4 million for fiscal year 2025, generating a gross profit of $340.0 million. The company achieved operating income of $36.6 million and net income of $15.3 million. However, after accounting for net income attributable to the Reciprocal of $18.7 million, Porch reported a net loss attributable to Porch of -$3.4 million. The company maintained strong operating cash flow of $66.4 million, though this was offset by significant investing activities (-$71.9M) and financing activities (-$22.2M), resulting in a net decrease in cash of $27.7 million. The balance sheet shows total assets of $797.4 million with substantial long-term debt of $385.1 million and total liabilities of $775.0 million, resulting in Porch stockholders' deficit of -$24.6 million. The company's comprehensive loss attributable to Porch was -$2.8 million for the period.
Porch Group, Inc. reported total revenue of $482.4 million for fiscal year 2025, with cost of revenue of $142.4 million resulting in gross profit of $340.0 million. The company achieved operating income of $36.6 million, calculated from gross profit less operating expenses including selling and marketing ($139.6M), product and technology ($53.3M), general and administrative ($105.2M), and provision for doubtful accounts ($5.3M). Total other income (expense) was -$9.8 million, primarily driven by interest expense of $51.6 million, partially offset by investment income and realized gains ($11.7M) and other income ($14.0M). Income before income taxes was $26.7 million, with income tax expense of $11.4 million resulting in net income of $15.3 million. After allocating $18.7 million of net income to the Reciprocal, Porch reported a net loss attributable to Porch of -$3.4 million. Comprehensive income was $21.6 million, but after allocating $24.4 million to the Reciprocal, comprehensive loss attributable to Porch was -$2.8 million.
The filing reports total revenue of $482.4 million for fiscal year 2025. No segment breakdown, geographic mix, or specific growth drivers are disclosed in the provided XBRL data or document text. The revenue figure represents consolidated performance without further decomposition into business segments or product lines. The absence of segment data in the provided materials prevents detailed analysis of revenue composition or growth drivers across different business units.
Gross margin was 70.5% based on gross profit of $340.0 million divided by total revenue of $482.4 million. Operating margin was 7.6% based on operating income of $36.6 million divided by total revenue. The cost structure shows significant operating expenses totaling $298.1 million (selling and marketing $139.6M + product and technology $53.3M + general and administrative $105.2M + provision for doubtful accounts $5.3M). Interest expense of $51.6 million represented a substantial burden on profitability, exceeding operating income and contributing to the negative total other income (expense) of -$9.8 million.
Operating activities generated $66.4 million in cash flow, driven by net income of $15.3 million adjusted for non-cash items including depreciation and amortization ($24.5M), stock-based compensation ($29.0M), and non-cash interest expense ($29.2M). Investing activities used $71.9 million primarily for purchases of short-term and long-term investments ($148.3M) and capitalized internal use software development costs ($13.9M). Financing activities used $22.2 million mainly for debt repayments ($68.2M) exceeding proceeds from debt issuance ($51.0M). The net change in cash was -$27.7 million. The balance sheet shows total assets of $797.4 million including goodwill ($191.9M), long-term investments ($55.4M), and intangible assets ($30.5M). Total liabilities were $775.0 million with long-term debt of $385.1 million. Porch stockholders' deficit was -$24.6 million, though total stockholders' equity was $22.4 million including noncontrolling interest related to the Reciprocal of $47.0 million.
The provided XBRL data and document text do not include management guidance, strategic priorities, or specific risk factors for future periods. No forward-looking statements, projections, or outlook information is disclosed in the materials provided. The analysis is limited to historical financial results for fiscal year 2025 ending December 31, 2025, as reported in the 10-K filing dated February 20, 2026.