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Porch Group Inc - PRCH STOCK NEWS

Welcome to our dedicated news page for Porch Group (Ticker: PRCH), a resource for investors and traders seeking the latest updates and insights on Porch Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Porch Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Porch Group's position in the market.

News
Porch Group Announces Inspection Product Enhancements and Price Increases
Rhea-AI Summary
Porch Group, Inc. (NASDAQ: PRCH) announced product enhancements and price increases in its inspection software business. ISN, a market-leading SaaS solution, processed 40% of U.S. home inspections in 2023. New features like FlexFund and ISN app aim to improve customer value proposition. ISN raised minimum monthly fees and transaction fees by 20% in Q1 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.08%
Tags
none
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News
Porch Group Attendance At Various Upcoming Investor Events
Rhea-AI Summary
Porch Group, Inc. (PRCH) announces its participation in upcoming investor events, including non-deal roadshows and fireside chats. The events are scheduled from March to April 2024, offering opportunities for investor engagement and networking.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.96%
Tags
conferences
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News
Porch Group Reports Fourth Quarter 2023 Results
Rhea-AI Summary
Porch Group, Inc. reported strong fourth-quarter earnings with total revenue of $114.6 million, a 79% increase from the prior year. The GAAP net loss improved to $2.5 million, and Adjusted EBITDA rose to $11.7 million. The CEO highlighted profitability growth, new SaaS products, and cost control achievements. Operational highlights included improved loss ratios, new product launches, and a focus on ESG initiatives. The company also announced a collaboration agreement with Aon Corp. and the sale of EIG. Full-year 2024 guidance includes revenue of $450m to $490m and Adjusted EBITDA of $1m to $10m.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
17.68%
Tags
earnings
News
Porch Group to Release Fourth Quarter 2023 Earnings on March 7, 2024
Rhea-AI Summary
Porch Group, Inc. (NASDAQ: PRCH) will report Q4 financial results exceeding guidance, with Revenue and Adjusted EBITDA expected to be strong. The company will host a webinar on March 7, 2024, to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
18.49%
Tags
earnings
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News
Porch Group Receives $25M with Signing of Strategic Agreement with Aon
Rhea-AI Summary
Porch Group, Inc. (PRCH) has signed a strategic collaboration agreement with Aon Corp. and Aon Re, Inc. to provide services resulting in upfront payments of $25 million and an expected $5 million over the following four years. Aon will provide reinsurance coverage and other services across Porch Group, with the partnership extending through 2028.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.73%
Tags
none
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News
Porch Group Launches New Product in the Rynoh Title Platform
Rhea-AI Summary
Porch Group, Inc. (NASDAQ: PRCH) announced the release of RynohVerifi, a fraud warning product for title and escrow companies. Rynoh, acquired by Porch in 2021, provides SaaS solutions for title and escrow agents, protecting over 40% of US residential purchases and home refinances. RynohVerifi confirms payee account ownership to prevent payment fraud.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.45%
Tags
none
News
HireAHelper U.S. Migration Study Shows 2023 Had Fewest Number of Moves Nationwide Since the 1940s
Rhea-AI Summary
HireAHelper, a Porch Group (PRCH) company, released its 6th annual U.S. migration study, revealing a 9% decrease in moves in 2023 compared to 2022. The study identified Oklahoma (+40%) as the state with the greatest net gain and California (-44%) as the state with the greatest net loss in residents. The study also highlighted the impact of socio-economic factors on American migration, such as lower cost of living and inflation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.7%
Tags
none
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News
Porch Group Announces New Partnerships and Growth in its Utilities Channel
Rhea-AI Summary
Porch Group, a leading vertical software company (NASDAQ: PRCH), announced growth in its utility concierge channel through additional partnerships. The company expanded its agreement with Exelon (NASDAQ: EXC) and signed an agreement with TECO Peoples Gas, leading to a 20% year-over-year increase in utility customer volumes. Porch now has partnerships with 12 utilities with access to over 14 million households. The company has also expanded its products and services offerings beyond the move to target all utility customers through additional integration points and targeted marketing efforts.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.44%
Tags
partnership
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News
Porch Group Announces New Warranty Partnerships and Products
Rhea-AI Summary
Porch Group, Inc. (PRCH) announces new partnerships and products in its warranty business, offering unique consumer benefits and expanding its reach to new customers. The company's warranty business has grown profitably, now offering products in 49 states. The new Porch Warranty product, launched in February 2023, has delivered good growth and conversion of leads. Porch recently signed agreements with distribution partners NerdWallet, Inc., Lone Star Insurance Services, and an insurance agency to offer its whole home Porch Warranty product. The Extended Labor Warranty partnership with a nationwide HVAC distributor is performing well, with HVAC contractors integrating Porch’s warranties to improve the consumer experience. Warranty also launched its HVAC micro-warranty product, providing coverage for homeowners’ HVAC systems.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
24.7%
Tags
partnership
News
Porch Group Releases Its Initial Environmental, Social and Governance Report
Rhea-AI Summary
Porch Group, Inc. (NASDAQ: PRCH) releases its initial Environmental, Social and Governance (ESG) report, outlining its ESG journey and annual update plans. The report focuses on Diversity, Equity, and Inclusion, Employee Experience, Risk Management and Climate, and Cybersecurity and Data Governance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.53%
Tags
none
Stock PRCH logo
Porch Group Inc

Nasdaq:PRCH

PRCH Rankings

#3331 Ranked by Market Cap
#4881 Ranked by Stock Gains
N/A Ranked by Dividends

PRCH Stock Data

358.18M
77.12M
24.15%
54.41%
9.29%
Software Publishers
Information
Link
United States
Seattle

About PRCH

porch is a home services platform, free for homeowners and home professionals including experts. with over 3.8 million professionals, hundreds of experts, and over 135 million projects, porch enables homeowners to make smart home improvement decisions by giving them the information they need to find the right professionals, get inspiration, and manage their home. porch is available online, through its app and serves as the in-store resource for all lowes in over 1,700 lowe’s home improvement stores across the u.s. for more information about porch, visit http://porch.com