Stockholders' Equity and Warrants (Tables)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Summary of Fully Diluted Capital Structure

The following table summarizes our fully diluted capital structure.

	December 31,
	2024	2023
Outstanding common shares (1)	119,770	97,061
Common shares reserved for future issuance:
Private warrants	1,796	1,796
Stock options (Note 9)	3,181	3,642
Restricted and performance stock units and awards (Note 9)	14,119	12,065
2020 Equity Plan pool reserved for future issuance (Note 9)	7,698	8,009
Convertible senior notes, due 2026 (2)	6,950	8,999
Convertible senior notes, due 2028	13,332	13,332
Contingently issuable shares in connection with acquisitions (3)	—	5,908
Total shares of common stock outstanding and reserved for future issuance	166,846	150,812

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(1)Includes 18.3 million shares of common stock held by HOA as of December 31, 2024.

(2)In connection with the September 16, 2021 issuance of the 2026 Notes, we used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to our common stock. The capped call transactions impact the number of shares that may be issued by effectively increasing our conversion price from $25 per share to approximately $37.74, which would result in approximately 5 million potentially dilutive shares instead of the shares reported in this table as of December 31, 2024.

(3)In connection with the acquisition of Floify, we issued shares as partial closing consideration and guaranteed that the value of those shares would equal or exceed 200% of such price on or prior to December 31, 2024. If the value of those shares did not equal or exceed 200% of their value, we would have been obligated to settle any differences in cash, Porch common stock, or combination thereof. On March 27, 2024, we entered into a settlement agreement to settle a post-closing dispute. As part of this agreement, the sellers of Floify agreed to terminate this obligation in full.

Schedule of Stockholders' Equity Note, Warrants or Rights

Detail related to private warrant activity is as follows:

	Number of Warrants (in thousands)	Number of Common Shares Issued (in thousands)
Balances as of December 31, 2021	14,325	—
Exercised	(12,353)	11,521
Canceled	(176)	—
Balances as of December 31, 2022, 2023, and 2024	1,796	11,521