Porch Group Inc Stock Price, News & Analysis

Floify, a leading mortgage point-of-sale solution and part of Porch Group (NASDAQ: PRCH), has been named the 2022 Service Partner of the Year by the National Association of Mortgage Brokers (NAMB). This recognition highlights Floify's significant contributions to the mortgage industry through its technology and customer service. With over 1 million users globally, Floify facilitates loan closures up to 50% faster, enhancing efficiency in the mortgage process. The award will be presented during the NAMB National 2022 event in Las Vegas, scheduled for October 7-9.

On August 25, 2022, Porch Pro, a lead generation marketplace under Porch Group (Nasdaq: PRCH), announced a software integration with MarketSharp, a CRM solution for home service professionals. This partnership aims to streamline the lead generation process for contractors, connecting homeowners' project requests with more service professionals. Both Porch Group and EverCommerce executives expressed optimism about the integration's potential to enhance business opportunities for contractors while simplifying operations.

Porch Group has earned the Great Place to Work Certification™, with 77% of its employees affirming it as a great workplace, exceeding the U.S. company average by 20%. This recognition underscores Porch Group's commitment to fostering a strong workplace culture guided by its 'No Jerks, No Egos' philosophy. The Great Place to Work Certification is based on employee feedback, highlighting Porch Group's dedication to enhancing employee retention, innovation, and overall satisfaction in the workplace. The company continues its mission to redefine the home services and insurance industries.

Porch Group, Inc. (NASDAQ: PRCH) reported second-quarter revenue of $70.8 million, a 38% increase from $51.3 million in Q2 2021. For the first half of 2022, revenue reached $133.3 million vs. $78.1 million last year. The company executed a mutual termination of the CSE Insurance acquisition, raising expected end-of-year unrestricted cash by approximately $50 million. However, Porch anticipates a GAAP net loss of $26.4 million for Q2 2022, up from $16.3 million in Q2 2021. Updated guidance projects full-year revenue of $290 million.

Porch Group, a vertical software company focused on home services and insurance, announced that its CEO, Matt Ehrlichman, will participate in a fireside chat at the Oppenheimer 25th Annual Technology, Internet & Communications Conference on August 10, 2022, at 10:45 a.m. ET. The event will be accessible via webcast on the company's investor website, where both live and replay versions will be available. Porch Group services over 25,500 home services companies, helping homebuyers with essential services including moving, insurance, and home repairs.

Porch Group (NASDAQ: PRCH) has announced a conference call and webinar scheduled for August 9, 2022, at 5:00 p.m. Eastern time to discuss its Q2 financial results for the period ending June 30, 2022. The financial results will be released prior to the call. Porch Group is a vertical software company providing essential services to over 25,500 home services companies, including home inspectors and warranty providers, facilitating a moving concierge service for homebuyers.

Porch Group (Nasdaq: PRCH) has successfully launched its homeowners insurance services in Indiana, marking a key milestone as its 20th state of operation. This initiative follows the acquisition of Homeowners of America in April 2021, enhancing Porch's national growth strategy in the insurance sector. The company has now expanded its insurance offerings to 14 states since the acquisition. Porch aims to leverage its vertical software platform to deliver a technology-driven insurance experience nationwide, demonstrating its commitment to growth and customer service.

Porch Group (Nasdaq: PRCH) announced its expansion of homeowners insurance services to Delaware, increasing its operational reach to 19 states. This growth aims to enhance underwriting and pricing capabilities through Porch's access to low-cost consumers and proprietary property data. Porch's CEO, Matt Ehrlichman, emphasized the company's commitment to serving homeowners and partners in Delaware. The announcement reflects Porch's strategy to solidify its national footprint in the homeowners insurance market.

Porch Group announced the launch of its Homeowners of America (HOA) insurance services in Oklahoma, marking the company's expansion into its 18th state. This growth follows Porch's acquisition of HOA in April 2021 and demonstrates its commitment to providing competitively priced homeowners insurance products. CEO Matt Ehrlichman expressed enthusiasm for offering accessible insurance solutions in Oklahoma, reinforcing Porch's role in the insurance market.