Net Income (Loss) Attributable To Porch Per Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Net Income (Loss) Attributable To Porch Per Share

Note 17. Net Income (Loss) Attributable To Porch Per Share

Earnings per share (“EPS”) is calculated using the two-class method unless the treasury stock method results in lower EPS. Basic EPS is calculated by dividing net income or loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. To calculate diluted EPS, basic EPS is further adjusted to include the effect of potentially dilutive stock options, RSUs, PRSUs, RSAs, convertible notes, earnout shares, and warrants using the more dilutive result of the treasury stock method or the if-converted method. All potentially dilutive securities are antidilutive to periods with net losses, and basic EPS equals diluted EPS in those periods.

The following table summarizes the computation of basic and diluted net income (loss) attributable to Porch per share for the three months ended March 31, 2025 and 2024:

	Three Months Ended March 31,
	2025		2024
Numerator:
Net income (loss) attributable to Porch used to compute net income (loss) attributable to Porch per share - basic	$	8,395	$	(13,362)
Effect of dilutive securities	—		—
Net income (loss) attributable to Porch used to compute net income (loss) attributable to Porch per share - diluted	$	8,395	$	(13,362)
Denominator:
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - basic	101,703		97,512
Effect of dilutive securities:
Stock Options	1,516		—
RSUs	4,202		—
PRSUs	5,883		—
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - diluted	113,304		97,512
Net income (loss) attributable to Porch per share - basic	$	0.08	$	(0.14)
Net income (loss) attributable to Porch per share - diluted	$	0.07	$	(0.14)

The following table discloses securities that were not included in the computation of diluted net loss per share because to do so would have been antidilutive for the periods presented:

		Three Months Ended March 31,
		2025	2024
Stock options		305	3,382
Restricted stock units and awards		—	7,335
Performance restricted stock units		1,561	3,754
Private warrants		1,796	1,796
Convertible debt	(1)	20,282	22,011

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(1)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 March 31, 2025.