XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenue $ 118,082 $ 111,200 $ 342,122 $ 337,487
Cost of revenue 31,135 49,483 113,854 221,895
Gross profit 86,947 61,717 228,268 115,592
Operating expenses:        
Selling and marketing 30,180 27,233 86,554 94,378
Product and technology 13,379 12,687 39,656 37,906
General and administrative 27,053 24,301 81,940 72,959
Operating income (loss) 16,335 (2,504) 20,118 (89,651)
Other income (expense):        
Interest expense (13,963) (10,645) (37,265) (31,758)
Change in fair value of private warrant liability (5,702) 50 (9,312) 1,076
Change in fair value of derivatives 1,785 (1,048) 21,311 (7,772)
Gain on extinguishment of debt 361 22,545 395 27,436
Investment income and realized gains and losses, net of investment expenses 2,989 3,787 8,464 10,957
Other income, net 1,535 2,014 11,428 27,092
Total other income (expense) (12,995) 16,703 (4,979) 27,031
Income (loss) before income taxes 3,340 14,199 15,139 (62,620)
Income tax benefit (provision) (4,322) 183 (4,138) (683)
Net income (loss) (982) 14,382 11,001 (63,303)
Less: Net income attributable to the Reciprocal 9,875 0 10,884 0
Net income (loss) attributable to Porch $ (10,857) $ 14,382 $ 117 $ (63,303)
Earnings Per Share - Basic        
Net income (loss) attributable to Porch per share - basic (in usd per share) $ (0.10) $ 0.14 $ 0 $ (0.64)
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - basic (in shares) 104,301 100,430 103,064 99,050
Earnings Per Share - Diluted        
Net income (loss) attributable to Porch per share - diluted (in usd per share) $ (0.10) $ 0.12 $ 0 $ (0.64)
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - diluted (in shares) 104,301 124,033 117,578 99,050
Comprehensive Income        
Net income (loss) $ (982) $ 14,382 $ 11,001 $ (63,303)
Other comprehensive income:        
Change in net unrealized loss, net of tax 1,479 3,840 5,170 2,802
Comprehensive income (loss) 497 18,222 16,171 (60,501)
Less: Comprehensive income attributable to the Reciprocal 11,302 0 15,760 0
Comprehensive income (loss) attributable to Porch $ (10,805) $ 18,222 $ 411 $ (60,501)