Porch Group, Inc.

PRCH · Services-Prepackaged Software · 127.7M shares · +32%/yr ↑ dilution · EDGAR filings ↗

Net buyback after stock comp: -$15M (gross $6M, SBC $21M)

Reference price $10.87 · est. market cap ~$1.4B — last insider sale, 2026-06-02 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C60

Insurance-and-home-software group that swung to positive adjusted EBITDA and free cash flow but with declining revenue, high leverage and negative equity.

Strengths

Profitability inflection: EBITDA $61M (61st-pct margin), positive FCF $66M, ROIC 8% and ROE 13.7% (67th pct)
Differentiated property-data moat (Home Factors covers ~90% of US homes) improving the Reciprocal's loss ratio

Risks

Revenue -13.7% YoY (6th pct) and net margin slightly negative; growth is not yet established
High leverage (net debt/EBITDA 4.5, 84th pct) and negative tangible book (-$247M)
Earnings tied to a complex reciprocal-exchange structure and catastrophe/reinsurance exposure

Notable findings

Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
Negative equityNegative book equity (debt/equity -15.64)
Net lossNet loss (net margin -0.7%)
Chronic dilutionShare count +32%/yr over 4y (dilution, book value/share -104%)
Strong balance sheetStrong balance sheet — $113M cash & investments
Notable holderHeld by 4 notable fund(s): GOLDMAN SACHS GROUP INC, STATE STREET CORP, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Insider sellingInsider selling — 52 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$22M, last 6mo) Form 4 ↗
Revenue declineRevenue -13.7% YoY

Quarterly revenue

2025-06-30 · $119M2025-09-30 · $118M2025-12-31 · $140M2026-03-31 · $121M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

70.5%

Operating margin

7.6%

Net margin

-0.7%

Return on equity

13.7%

Return on assets

-0.4%

ROIC

8.0%

Revenue growth (QoQ)

-13.7%

Debt / equity

-15.6×

Net debt / EBITDA

4.5×

Current ratio

1.3×

Free cash flow

$66M

EBITDA

$61M

Tangible book value

-$247M

Cash & investments

$113M

Stock comp / revenue

6.0%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2028-03-19	Ehrlichman Matt	Grant	1.7M	—
2026-06-10	TULLOCH MAURICE	Grant	16K	—
2026-06-10	Kell Sean Davis	Grant	16K	—
2026-06-10	Vengalil Regi	Grant	16K	—
2026-06-10	Pickerill Alan R	Grant	16K	—
2026-06-10	Lam Rachel	Grant	16K	—
2026-06-10	Reierson Amanda L	Grant	16K	—
2026-06-10	Velasquez Camilla	Grant	16K	—
2026-06-02	Tabak Shawn	Sell	3.9K	$10.87
2026-05-26	Tabak Shawn	Sell	30K	$10.08
2026-05-20	Neagle Matthew	Sell	62K	$9.78
2026-05-20	Ehrlichman Matt	Sell	120K	$9.78
2026-05-20	Tabak Shawn	Sell	11K	$9.78
2026-05-15	Neagle Matthew	Sell	60K	$10.34
2026-05-15	Ehrlichman Matt	Sell	116K	$10.34
2026-05-15	Tabak Shawn	Sell	10K	$10.34
2026-05-12	Neagle Matthew	Sell	64K	$10.52
2026-05-12	Ehrlichman Matt	Sell	123K	$10.52
2026-05-12	Tabak Shawn	Sell	11K	$10.52
2026-05-08	Neagle Matthew	Sell	60K	$11.12
2026-05-08	Ehrlichman Matt	Sell	116K	$11.12
2026-05-08	Tabak Shawn	Sell	11K	$11.12
2026-05-05	Neagle Matthew	Sell	61K	$10.43
2026-05-05	Ehrlichman Matt	Sell	117K	$10.43
2026-05-05	Tabak Shawn	Sell	11K	$10.43
2026-05-01	Neagle Matthew	Sell	64K	$9.79
2026-05-01	Ehrlichman Matt	Sell	124K	$9.79
2026-05-01	Tabak Shawn	Sell	11K	$9.79
2026-04-28	Neagle Matthew	Sell	60K	$8.11
2026-04-28	Ehrlichman Matt	Sell	116K	$8.11
2026-04-28	Tabak Shawn	Sell	10K	$8.11
2026-04-24	Tabak Shawn	Sell	7.9K	$7.68
2026-04-24	Neagle Matthew	Sell	64K	$7.68
2026-04-24	Ehrlichman Matt	Sell	124K	$7.68
2026-04-21	Tabak Shawn	Sell	7.7K	$8.12
2026-04-21	Neagle Matthew	Sell	63K	$8.12
2026-04-21	Ehrlichman Matt	Sell	121K	$8.12
2026-04-17	Neagle Matthew	Sell	59K	$7.87
2026-04-17	Ehrlichman Matt	Sell	114K	$7.87
2026-04-17	Tabak Shawn	Sell	8.4K	$7.87
2026-04-14	Tabak Shawn	Sell	10K	$6.84
2026-04-14	Neagle Matthew	Sell	61K	$6.84
2026-04-14	Neagle Matthew	Sell	23K	$6.84
2026-04-14	Ehrlichman Matt	Sell	117K	$6.84
2026-04-14	Ehrlichman Matt	Sell	29K	$6.84
2026-04-14	Tabak Shawn	Sell	7.5K	$6.84
2026-04-09	Neagle Matthew	Sell	63K	$7.15
2026-04-09	Ehrlichman Matt	Sell	121K	$7.15
2026-04-09	Tabak Shawn	Sell	7.7K	$7.15
2026-04-07	Tabak Shawn	Grant	39K	—
2026-04-07	Tabak Shawn	Sell	4.4K	$7.19
2026-04-07	Tabak Shawn	Sell	1.9K	$7.19
2026-04-07	Tabak Shawn	Sell	3.0K	$7.19
2026-04-07	Neagle Matthew	Grant	105K	—
2026-04-07	Neagle Matthew	Grant	52K	—
2026-04-07	Neagle Matthew	Sell	9.8K	$7.19
2026-04-07	Neagle Matthew	Sell	10K	$7.19
2026-04-07	Neagle Matthew	Sell	8.7K	$7.19
2026-04-07	Ehrlichman Matt	Grant	226K	—
2026-04-07	Ehrlichman Matt	Grant	71K	—
2026-04-07	Ehrlichman Matt	Sell	19K	$7.19
2026-04-07	Ehrlichman Matt	Sell	25K	$7.19
2026-04-07	Ehrlichman Matt	Sell	27K	$7.19
2026-04-07	Tabak Shawn	Grant	28K	—
2026-04-02	Ehrlichman Matt	Sell	7.0K	$6.98
2026-04-02	Neagle Matthew	Sell	8.4K	$6.98
2026-03-19	Neagle Matthew	Grant	827K	—
2026-03-19	Tabak Shawn	Grant	124K	—
2026-03-19	Tabak Shawn	Option exercise	124K	—
2026-03-19	Neagle Matthew	Option exercise	827K	—
2026-03-19	Ehrlichman Matt	Option exercise	1.7M	—
2025-12-15	Tabak Shawn	Sell	24K	$9.66
2025-12-11	Tabak Shawn	Sell	11K	$9.99
2025-12-04	Tabak Shawn	Sell	22K	$9.52
2025-12-01	Tabak Shawn	Grant	15K	—
2025-10-05	Ehrlichman Matt	Tax withheld	29K	$17.02
2025-10-05	Ehrlichman Matt	Tax withheld	26K	$17.02
2025-10-05	Neagle Matthew	Tax withheld	15K	$17.02
2025-10-05	Tabak Shawn	Tax withheld	2.2K	$17.02
2025-10-05	Tabak Shawn	Tax withheld	2.8K	$17.02
2025-10-05	Neagle Matthew	Tax withheld	13K	$17.02
2025-10-01	Neagle Matthew	Tax withheld	12K	$16.91
2025-10-01	Ehrlichman Matt	Tax withheld	11K	$16.91
2025-09-12	Reierson Amanda L	Sell	50K	$17.67
2025-09-10	Neagle Matthew	Option exercise	252	$2.07
2025-09-10	Neagle Matthew	Option exercise	1.3K	$2.73
2025-09-10	Neagle Matthew	Option exercise	4.6K	$3.30
2025-09-10	Neagle Matthew	Option exercise	7.0K	$3.30
2025-09-10	Neagle Matthew	Option exercise	7.7K	$13.23
2025-09-10	Neagle Matthew	Option exercise	291	$2.07
2025-09-09	Neagle Matthew	Sell	55K	$18.69
2025-09-05	Vengalil Regi	Sell	40K	$18.20
2025-08-06	Lam Rachel	Sell	25K	$15.21
2025-06-25	Neagle Matthew	Grant	130K	—
2025-06-25	Tabak Shawn	Grant	42K	—
2025-06-25	Ehrlichman Matt	Grant	291K	—
2025-06-13	Lam Rachel	Sell	25K	$10.75
2025-06-12	Pickerill Alan R	Sell	40K	$11.26
2025-06-12	Tabak Shawn	Sell	30K	$11.23
2025-06-12	TULLOCH MAURICE	Tax withheld	43K	$11.26
2025-06-11	Kell Sean Davis	Grant	13K	—
2025-06-11	Velasquez Camilla	Grant	13K	—
2025-06-11	Vengalil Regi	Grant	13K	—
2025-06-11	Pickerill Alan R	Grant	13K	—
2025-06-11	Reierson Amanda L	Grant	13K	—
2025-06-11	Lam Rachel	Grant	13K	—
2025-06-11	TULLOCH MAURICE	Grant	13K	—
2025-06-02	Tabak Shawn	Tax withheld	16K	$9.35
2025-05-27	Neagle Matthew	Sell	60K	$9.94
2025-05-19	Neagle Matthew	Sell	60K	$10.53
2025-05-12	Neagle Matthew	Sell	250K	$10.23
2025-04-15	Tabak Shawn	Sell	10K	$5.34
2025-04-05	Neagle Matthew	Tax withheld	11K	$5.64
2025-04-05	Neagle Matthew	Tax withheld	17K	$5.64
2025-04-05	Ehrlichman Matt	Tax withheld	41K	$5.64
2025-04-05	Ehrlichman Matt	Tax withheld	18K	$5.64
2025-04-05	Tabak Shawn	Tax withheld	1.8K	$5.64
2025-04-05	Tabak Shawn	Tax withheld	6.3K	$5.64
2025-04-04	Tabak Shawn	Grant	49K	—
2025-04-04	Neagle Matthew	Grant	153K	—
2025-04-04	Neagle Matthew	Grant	23K	—
2025-04-04	Neagle Matthew	Tax withheld	6.6K	$5.64
2025-04-04	Tabak Shawn	Grant	12K	—
2025-04-04	Tabak Shawn	Tax withheld	4.3K	$5.64
2025-04-04	Ehrlichman Matt	Grant	343K	—
2025-04-04	Ehrlichman Matt	Grant	32K	—
2025-04-04	Ehrlichman Matt	Tax withheld	13K	$5.64
2025-04-01	Neagle Matthew	Tax withheld	8.2K	$7.18
2025-04-01	Ehrlichman Matt	Tax withheld	6.8K	$7.18
2025-03-25	Neagle Matthew	Sell	43K	$7.06
2025-03-24	Neagle Matthew	Sell	27K	$6.99
2025-03-17	Neagle Matthew	Sell	60K	$6.24
2025-02-26	Tabak Shawn	Sell	43K	$6.01
2025-02-26	Tabak Shawn	Sell	65K	$6.08

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-06-15	Shareholder voteExhibits	filing ↗
2026-06-11	Material agreement3.02Reg FDExhibits	filing ↗
2026-04-28	ResultsReg FDExhibits	filing ↗
2026-02-11	ResultsReg FDExhibits	filing ↗
2025-11-05	ResultsReg FDExhibits	filing ↗
2025-08-05	ResultsReg FDExhibits	filing ↗
2025-06-27	Exec/director changeExhibits	filing ↗
2025-06-16	Shareholder voteExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-15	2026-06-10	0001784535-26-000039 ↗
8-K	2026-06-11	2026-06-10	0001784535-26-000033 ↗
10-Q	2026-04-28	2026-03-31	0001784535-26-000029 ↗
8-K	2026-04-28	2026-04-28	0001784535-26-000028 ↗
10-K	2026-02-20	2025-12-31	0001784535-26-000008 ↗
8-K	2026-02-11	2026-02-11	0001784535-26-000004 ↗
10-Q	2025-11-06	2025-09-30	0001784535-25-000104 ↗
8-K	2025-11-05	2025-11-05	0001784535-25-000102 ↗
8-K	2025-08-05	2025-08-05	0001784535-25-000093 ↗
10-Q	2025-08-05	2025-06-30	0001784535-25-000095 ↗
8-K/A	2025-06-27	2025-04-04	0001784535-25-000083 ↗
8-K	2025-06-16	2025-06-11	0001784535-25-000077 ↗