Porch Group, Inc. · NASDAQ:PRCH

Porch — Q3 2025 Earnings Presentation

30 slides from Porch's earnings presentation, Nov 5, 2025

  1. Slide 1: Q3 2025 Earnings Presentation

    Q3 2025 Earnings Presentation November 5, 2025 Copyright 2025 Porch Group, Inc. All rights reserved

  2. Slide 2: Disclaimers

    Disclaimers Financial Targets Porch is providing guidance and targets for future periods in this presentation based on current market conditions, assumptions, and expectations as of the date of this presentation. Actual results may vary due to a number of factors, and there is no guarantee that we w

  3. Slide 3: Agenda

    Agenda Matt Ehrlichman CEO, Chairman & Founder Key Updates Shawn Tabak Chief Financial Officer Financials & Guidance Matthew Neagle Chief Operating Officer Strategic Update & KPIs Copyright 2025 Porch Group, Inc. All rights reserved 3

  4. Slide 4: Key Updates

    Key Updates Matt Ehrlichman CEO, Chairman & Founder Copyright 2025 Porch Group, Inc. All rights reserved 4

  5. Slide 5: Q3'25: Strong Results Above Expectations

    Q3’25: Strong Results Above Expectations Key Q3'25 Porch Shareholder Interest1 Metrics: $137.5 $115.1 +$33m / +53% vs prior year 2 $94.2 +$4m vs prior year3 $28.8 $20.6 Reciprocal Written Revenue Gross Profit Adj EBITDA Cash Flow from Premium (RWP) 82% gross margin 18% Adj EBITDA margin Operations N

  6. Slide 6: Q3'25: Key Business Updates

    Q3’25: Key Business Updates 1 • Insurance model is exceeding expectations • 18% conversion rate of RWP to Insurance Services Adjusted EBITDA • Now up to 89 Home Factors providing a system-wide margin advantage 2 • Prioritizing Porch Shareholder Interest profit & Reciprocal surplus generation • $412m

  7. Slide 7: Reciprocal Surplus Expansion Drives Adjusted EBITDA

    Reciprocal Surplus Expansion Drives Adjusted EBITDA Surplus Combined With RWP Potential Insurance Services Non-Admitted Assets ($ mil.) Potential ($ bil.) Adj. EBITDA Increase ($ mil.) ~$113M Sequential Increase in Q3 ~$500M Increase in Q3 ~$120M Increase in Q3 +38% Sequential Growth Q3'25 $412 Q3'2

  8. Slide 8: Financials & Guidance

    Financials & Guidance Shawn Tabak Chief Financial Officer Copyright 2025 Porch Group, Inc. All rights reserved 8

  9. Slide 9: Q3'25 Results Ahead of Expectations

    Q3’25 Results Ahead of Expectations Porch Shareholder Interest Insurance Software & Consumer Corporate & Total Reciprocal Eliminations Total Services Data Services Eliminations Revenue $73.8m $24.6m $19.4m $(2.8)m $115.1m $51.9m $(48.9)m $118.1m Gross Profit $62.3m $18.2m $16.6m $(2.8)m $94.2m $40.4

  10. Slide 10: Q3'25 Porch Shareholder Interest: Exceeded Expectations

    Q3’25 Porch Shareholder Interest: Exceeded Expectations Revenue1: $115m Gross Profit1: $94.2m Adjusted EBITDA: $20.6m 82% margin 18% margin $2.5 $5.1 $19.4 $16.6 86% $25.3 $20.6 $24.6 $18.2 ($12.3) 74% $73.8 $62.3 84% Key: Gross Margin (%) Insurance Software Consumer Corporate & Adj EBITDA Insurance

  11. Slide 11: Insurance Services: High Margin and Predictable

    Insurance Services: High Margin and Predictable Non-CAT weather quota share reinsurance Policy fees Fees for homebuyer leads 3 2 4 Management fees Surplus note interest Income Streams 1 5 $137.5m $73.8m $62.3m $25.3m Reciprocal Written Revenue Gross Profit Adjusted EBITDA Premium 54% RWP Conversion

  12. Slide 12: Software & Data: Product Innovation Driving Price

    Software & Data: Product Innovation Driving Price Revenue Gross Profit Adj EBITDA $23.1 $24.6 $17.3 $18.2 +7% YoY +5% YoY $5.0 $5.1 +$0.1m Q3'24 Q3'25 Q3'24 Q3'25 Q3'24 Q3'25 75% 74% 22% 21% Gross Margin Adjusted EBITDA margin • Revenue increase driven by product innovation and launches; correspondi

  13. Slide 13: Consumer Services: Ongoing Investments for 2026 Growth

    Consumer Services: Ongoing Investments for 2026 Growth Revenue Gross Profit Adj EBITDA $17.8 $19.4 $16.6 +9% $13.5 YoY +23% YoY $3.9 $2.5 ($1.4)m Q3'24 Q3'25 Q3'24 Q3'25 Q3'24 Q3'25 76% 86% 22% 13% Gross Margin Adjusted EBITDA margin • Revenue increase aided by the lapping of corporate relocation wi

  14. Slide 14: Corporate Expenses: Strong Cost Controls

    Corporate Expenses: Strong Cost Controls Adj EBITDA ($13.0) ($12.3) Q3'24 Q3'25 • Reduced corporate expenses with shift to lower cost locations and reduced G&A back-office costs Notes: All numbers are $mil lion unless otherwi se stated. Fi nanci als present the corporate expenses for Porch Sharehold

  15. Slide 15: Continued Strong Cash Generation

    Continued Strong Cash Generation $132.1m +$28.8m Porch Shareholder Interest Q3’25 Porch Shareholder Interest Cash + Investments1 Cash Flow from Operations September 30, 2025 Debt updates: • Repurchased $12.8m of 2026 notes • ~$7.8m remaining principal balance on 2026 notes • Board authorized managem

  16. Slide 16: Updated 2025 Guidance Ranges

    Updated 2025 Guidance Ranges 2025 guidance relates to Porch Shareholder Interest and excludes Reciprocal Revenue $410m to $420m Midpoint reiterated versus prior guidance Gross Profit $335m to $340m $2.5 million increase versus prior guidance midpoint Vs. 2024 $202m PG Consolidated Adjusted EBITDA $7

  17. Slide 17: Strategic Update & KPIs

    Strategic Update & KPIs Matthew Neagle Chief Operating Officer Copyright 2025 Porch Group, Inc. All rights reserved 17

  18. Slide 18: Insurance Services: Q3 2025 KPIs + Updates

    Insurance Services: Q3 2025 KPIs + Updates Insurance: Business Updates Insurance: Q3 2025 KPIs Reciprocal Written Premium (RWP) • RWP driven by quote volume and conversion rate $138m $121m • Strong top of the funnel activity: agency $97m appointments and quote volume • Pleased with RWP : Adjusted EB

  19. Slide 19: Agencies Drive Growing Quote Volumes

    Agencies Drive Growing Quote Volumes Agencies Quote Volumes Q1' 24 Q2' 24 Q3' 24 Q4' 24 Q1' 25 Q2' 25 Q3' 25 Q1' 24 Q2' 24 Q3' 24 Q4' 24 Q1' 25 Q2' 25 Q3' 25 Notes: Quote volumes and agencies are based on internal data and are shown in the charts on quarterly averages Copyright 2025 Porch Group, Inc

  20. Slide 20: Software & Data: Q3 2025 KPIs + Updates

    Software & Data: Q3 2025 KPIs + Updates Software & Data: Business Updates Software & Data: Q3 2025 KPIs Software Innovation • Continuation of good velocity with >20 product releases and enhancements 23.8K $4,140 • Positioned to benefit from housing market Average Number of Annualized Average Compani

  21. Slide 21: Consumer Services: Q3 2025 KPIs + Updates

    Consumer Services: Q3 2025 KPIs + Updates Consumer Services: Business Updates Consumer Services: Q3 2025 KPIs • Warranty claims frequency remains a bright spot; trending down >20% YOY • Moving Partnerships initiative is driving positive 93.9K $206 Number of Monetized Average Revenue Per outcomes; st

  22. Slide 22: Wrap Up

    Wrap Up Matt Ehrlichman CEO, Chairman & Founder Copyright 2025 Porch Group, Inc. All rights reserved 22

  23. Slide 23: Wrap Up: Strong Q3 Results; Well-Positioned Ahead of 2026

    Wrap Up: Strong Q3 Results; Well-Positioned Ahead of 2026 1• Delivered Q3 Adj EBITDA of $20.6m, $4m increase year-over-year • $28.8m (+$71m YTD) of Porch Shareholder Interest Cash Flow from Operations • Year-to-date Adj EBITDA has surpassed initial 2025 Adj EBITDA guidance • 2025 Adj EBITDA expected

  24. Slide 24: Q3 2025 Earnings Q&A

    Q3 2025 Earnings Q&A Copyright 2025 Porch Group, Inc. All rights reserved 24

  25. Slide 25: Appendix

    Q3 2025 Earnings APPENDIX Copyright 2025 Porch Group, Inc. All rights reserved 25

  26. Slide 26: Porch Shareholder Interest Breakdown

    Porch Shareholder Interest Breakdown Q3 2025 ($ million) Revenue Gross Profit Margin Adj EBITDA Margin Insurance Services $73.8 $62.3 84% $25.3 34% Software & Data 24.6 18.2 74% 5.1 21% Consumer Services 19.4 16.6 86% 2.5 13% Corporate & Eliminations (2.8) (2.8) n/a (12.3) n/a Total Porch Shareholde

  27. Slide 27: Porch Shareholder Interest Cash Flow from Operations

    Porch Shareholder Interest Cash Flow from Operations Porch Reciprocal Shareholder Three Months Ended September 30, 2025 ($ million) Consolidated Segment Eliminations Interest¹ Net cash provided by (used in) operating activities 40.8 12.0 - 28.8 Net cash provided by (used in) investing activities (24

  28. Slide 28: Non-GAAP Financial Measures

    Non-GAAP Financial Measures This release includes non-GAAP financial measures, such as Adjusted EBITDA (Loss), Adjusted EBITDA (Loss) margin, and certain amounts related to Porch Shareholder Interest. On January 1, 2025, Porch Group sold its legacy homeowners insurance carrier Homeowners of America

  29. Slide 29: Glossary

    Glossary Term Definition Annualized Average Revenue per We define as the revenue generated across the Software & Data segment in the period over the Average Number of Companies in the period, which is then annualized (for example, Company for a given quarter, multiplied by 4). Average Revenue per Mo

  30. Slide 30: Thank You

    THANK YOU Email: IR@porch.com Website: IR.porchgroup.com Copyright 2025 Porch Group, Inc. All rights reserved 30

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