Porch Group, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
March 08, 2024 at 02:35 am IST
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Porch Group, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 430.3 million compared to USD 275.95 million a year ago. Net loss was USD 133.93 million compared to USD 156.56 million a year ago.
Basic loss per share from continuing operations was USD 1.39 compared to USD 1.61 a year ago.
Porch Group, Inc. is a provider of a vertical software and insurance platform. The Company offers differentiated products and services, with homeownersâ insurance at the center of this relationship. The Company serves approximately 30,000 companies, such as home inspectors, mortgage companies, and title companies. The Company has two segments: the Vertical Software segment and the Insurance segment. The Vertical Software segment provides software and services to inspection, mortgage and title companies on a subscription and transactional basis. The segment operates several key businesses, including inspection software and services, title insurance software, mortgage software, moving services and others. The Insurance segment provides consumers with insurance and warranty products. The Insurance segment includes Homeowners of America, a wholly owned insurance carrier, Porticus Reinsurance, its Cayman Islands captive reinsurer, and Porch Warranty, among other warranty brands.