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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 65,899 $ 167,643
Accounts receivable, net 12,243 19,106
Short-term investments 4,510 24,099
Reinsurance balance due 0 92,303
Prepaid expenses and other current assets 11,503 32,837
Restricted cash and cash equivalents 17,213 29,139
Total current assets 111,368 365,127
Property, equipment, and software, net 24,299 22,542
Goodwill 191,907 191,907
Long-term investments 26,215 158,652
Intangible assets, net 38,153 68,746
Other assets 7,092 6,994
Cash and cash equivalents, including restricted 166,007 196,782
Total assets 802,283 813,968
Current liabilities    
Accounts payable 5,673 4,538
Accrued expenses and other current liabilities 46,623 41,245
Deferred revenue 8,008 248,669
Refundable customer deposits 12,767 12,629
Current debt 0 150
Losses and loss adjustment expense reserves 0 67,785
Other insurance liabilities, current 0 39,140
Total current liabilities 73,071 414,156
Long-term debt 409,160 403,788
Other liabilities 31,690 39,249
Total liabilities 834,332 857,193
Commitments and contingencies (Note 16)
Stockholders' deficit    
Common stock, $0.0001 par value per share 10 10
Additional paid-in capital 583,800 717,066
Accumulated other comprehensive income (loss) 284 (5,446)
Accumulated deficit (636,512) (754,855)
Porch stockholders' deficit (52,418) (43,225)
Noncontrolling interest related to the Reciprocal 20,369 0
Total stockholders' deficit (32,049) (43,225)
Total liabilities and stockholders' deficit 802,283 813,968
Variable Interest Entity, Primary Beneficiary    
Current assets    
Cash and cash equivalents 81,890 0
Accounts receivable, net [1] 6,224 0
Short-term investments [1] 681 0
Reinsurance balance due [1] 94,385 0
Prepaid expenses and other current assets [1] 22,613 0
Restricted cash and cash equivalents 1,005 0
Long-term investments [1] 170,243 0
Intangible assets, net [1] 26,208 0
Cash and cash equivalents, including restricted [1] 82,895 0
Current liabilities    
Accrued expenses and other current liabilities [2] 1,455 0
Deferred Revenue, Noncurrent [2] 214,530 0
Losses and loss adjustment expense reserves [2] 71,812 0
Other insurance liabilities, current [2] 31,700 0
Other liabilities [2] $ 914 $ 0
[1] Porch Reciprocal Exchange (the “Reciprocal”) is a consolidated variable interest entity not owned by Porch Group, Inc. (see Note 3).
[2] Porch Reciprocal Exchange (the “Reciprocal”) is a consolidated variable interest entity not owned by Porch Group, Inc. (see Note 3)