Porch Group (NASDAQ:PRCH) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$110.8m (up 12% from 2Q 2023).

• Net loss: US$64.3m (loss narrowed by 26% from 2Q 2023).

• US$0.65 loss per share (improved from US$0.91 loss in 2Q 2023).

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

Porch Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are down 43% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Porch Group (2 are a bit unpleasant!) that you should be aware of.

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