Porch Group (NASDAQ:PRCH) First Quarter 2024 Results

Key Financial Results

• Revenue: US$115.4m (up 32% from 1Q 2023).

• Net loss: US$13.4m (loss narrowed by 66% from 1Q 2023).

• US$0.14 loss per share (improved from US$0.41 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Porch Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 59%.

Looking ahead, revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are down 20% from a week ago.

Valuation

Our analysis of these results suggests Porch Group may be undervalued based on 6 important criteria we look at. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.