Porch Group, Inc. · NASDAQ:PRCH

Porch — Q2 2025 Earnings Presentation

32 slides from Porch's earnings presentation, Aug 5, 2025

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
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
Slide 5: Q2'25: Strong Results Above Expectations
Q2’25: Strong Results Above Expectations 1• Key Q2'25 Porch Shareholder Interest1 metrics were above expectations: +$72m / +431% $120.7 $107.0 vs prior year2 $89.2 +$50m vs prior year3 $15.6 $14.9 Reciprocal Written Revenue Gross Profit Adj EBITDA Cash Flow from Premium Operations 83% gross 15% Adj
Slide 6: Porch's Flywheel is Working
Porch’s Flywheel is Working PRCH stock price increases More fee based Depending on whether ST wants to Reciprocal’s income for Porch double up the NYC trips or let ME surplus take that first week, increases Can grow premium faster Copyright 2025 Porch Group, Inc. All rights reserved 6
Slide 7: Reciprocal Health Well Ahead of Expectations
Reciprocal Health Well Ahead of Expectations $299m surplus combined with non-admitted assets as of June 30, 2025 +$102m increase vs prior quarter +$259m increase vs prior year Copyright 2025 Porch Group, Inc. All rights reserved 7
Slide 8: Reciprocal Surplus Growth Drives Adjusted EBITDA
Reciprocal Surplus Growth Drives Adjusted EBITDA Surplus Combined With RWP Potential Insurance Services Non-Admitted Assets Potential Adj. EBITDA Increase ~$1.5B Q2 ‘25 ~$300M Q2 ‘25 ~$240M ~$500M Increase in Q2 Q2 ‘25 ~$100M Increase in Q2 +51% Sequential Growth ~$1B ~$80M Increase in Q2 Q1 ‘25 ~$2
Slide 9: Porch is a Resilient Investment in Various Macro Cycles
Porch is a Resilient Investment in Various Macro Cycles US Homeowners Insurance Premiums1 1• Tariffs: no significant impact 180 160 2• Recession: • Lower interest rates drive housing volumes Home Premium ($b) 140 120 100 • Industry premiums grown in the past 80 60 3• Inflation: scales premium at the
Slide 11: Q2'25 Results Ahead of Expectations
Q2’25 Results Ahead of Expectations Porch Shareholder Interest Insurance Software & Consumer Corporate & Total Reciprocal Eliminations Total Services Data Services Eliminations Revenue $67.4m $24.0m $17.7m $(2.0)m $107.0m $55.4m $(43.1)m $119.3m Gross Profit $57.9m $18.2m $15.2m $(2.0)m $89.2m $31.5
Slide 12: Q2'25 Porch Shareholder Interest: Exceeded expectations
Q2’25 Porch Shareholder Interest: Exceeded expectations Revenue1: $107m Gross Profit1: $89.2m Adjusted EBITDA: $15.6m 83% margin 15% margin $2.0 $5.5 $15.2 $17.7 86% $19.7 $24.0 $18.2 $15.6 76% $57.9 ($11.5) $67.4 86% Key:: Gross Profit ($m) Gross Margin (%) Insurance Software Consumer Corporate & A
Slide 13: Insurance Services: High Margin and Predictable
Insurance Services: High Margin and Predictable Non-CAT weather quota share reinsurance Policy fees direct from Fees for homebuyer leads policyholders from third party agencies 3 2 4 Management fee based on ~15%1 coupon on $106m Reciprocal Written Premium surplus notes Income Streams 1 5 $120.7m $67
Slide 14: Software & Data: Product Innovation Driving Price
Software & Data: Product Innovation Driving Price Revenue Gross Profit Adj EBITDA $23.2 $24.0 $17.3 $18.2 +4% YoY +5% YoY +$1.5m $5.5 $4.0 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 75% 76% 17% 23% Gross Margin Adjusted EBITDA margin • Revenue increase driven by product innovation and launches; correspondi
Slide 15: Consumer Services: Investing for 2026 Growth
Consumer Services: Investing for 2026 Growth Revenue Gross Profit Adj EBITDA $18.9 $17.7 (-6)% $15.1 $15.2 +1% +$0.8m $1.2 $2.0 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 80% 86% 6% 11% Gross Margin Adjusted EBITDA margin • Revenue decrease due to soft housing market, and closure of corporate relocation in
Slide 16: Corporate Expenses: Strong Cost Controls
Corporate Expenses: Strong Cost Controls Adj EBITDA ($12.2) ($11.5) Q2'24 Q2'25 • Reduced corporate expenses with shift to lower cost locations and reduced G&A back-office costs Notes: All numbers are $million unless otherwise stated. Financials present the corporate expenses for Porch Shareholder I
Slide 17: Continued Strong Cash Generation
Continued Strong Cash Generation $117.5m +$14.9m Porch Shareholder Interest Q2’25 Porch Shareholder Interest Cash + Investments1 Cash Flow from Operations June 30, 2025 Porch Shareholder Interest Cash Flow from Op. of $14.9m: Favorable debt developments: • $15.6m Adj EBITDA in Q2’25 • Refinanced ~$1
Slide 18: Increasing 2025 Guidance Across the Board
Increasing 2025 Guidance Across the Board 2025 guidance relates to Porch Shareholder Interest and excludes Reciprocal Revenue $405m to $425m $5.0 million increase (midpoint) from prior guidance Gross Profit $328m to $342m $7.5 million increase (midpoint) from prior guidance Vs. 2024 $202m PG Consoli
Slide 20: Insurance Services: Q2 2025 KPIs + Updates
Insurance Services: Q2 2025 KPIs + Updates Insurance: Business Updates Insurance: Q2 2025 KPIs Reciprocal Written Premium Growth • Grew agency sales and account management Reciprocal Written Premium (RWP) $121m headcount from 2 to 26 over past 9 months $97m • Ahead with new agency adds • New large n
Slide 21: Reciprocal Health Well Ahead of Expectations
Reciprocal Health Well Ahead of Expectations 1 $299M surplus combined with non-admitted assets as of June 30, 2025 • +$102M increase vs prior quarter • +$259M increase vs prior year • Statutory surplus in place to support 2026 premium growth goals even if PRCH was ~$2 per share 2 Continued exception
Slide 22: Software & Data: Q2 2025 KPIs + Updates
Software & Data: Q2 2025 KPIs + Updates Software & Data: Business Updates Software & Data: Q2 2025 KPIs Software Innovation • Rynoh announces two large, notable wins: Fidelity National Financial’s EscrowTRAX and another top 5 title insurer 24.2K $3,974 Number of Companies Annualized Average Growth o
Slide 23: Consumer Services: Q2 2025 KPIs + Updates
Consumer Services: Q2 2025 KPIs + Updates Consumer Services: Business Updates Consumer Services: Q2 2025 KPIs • In early Q3’25, Warranty and 4 hours of Moving Services approved to be included in Porch Insurance as an important benefit for members. 87.2K $202 Number of Monetized Average Revenue Per •
Slide 25: Wrap Up: Strong Q2 Results; Improved Outlook
Wrap Up: Strong Q2 Results; Improved Outlook 1• Delivered Q2 Adj EBITDA of $15.6m, $50m increase year-over-year • Translated to $14.9m (+$42m YTD) of Porch Shareholder Interest Cash Flow from Op. • Increased 2025 Adj EBITDA guidance by $2.5m to $67.5m (mid-point) • Consistent with Q1’25, Porch Share
Slide 28: Porch Shareholder Interest Breakdown
Porch Shareholder Interest Breakdown Q2 2025 ($ million) Revenue Gross Profit Margin Adj EBITDA Margin Insurance Services $67.4 $57.9 86% $19.7 29% Software & Data 24.0 18.2 76% 5.5 23% Consumer Services 17.7 15.2 86% 2.0 11% Corporate & Eliminations (2.0) (2.0) n/a (11.5) n/a Total Porch Shareholde
Slide 29: Porch Shareholder Interest Cash Flow from Operations
Porch Shareholder Interest Cash Flow from Operations Porch Reciprocal Shareholder Three Months Ended June 30, 2025 ($ million) Consolidated Segment Eliminations Interest¹ Net cash provided by (used in) operating activities 35.6 20.7 - 14.9 Net cash provided by (used in) investing activities (5.9) (0
Slide 30: 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
Slide 31: Glossary
Glossary Term Definition Annualized Average Revenue per Defined 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 four). Average Revenue per M

Porch Group — Q2 2025 Earnings Presentation on 6ix

Porch — Q2 2025 Earnings Presentation

Slide 1: Q2 2025 Earnings Presentation

Slide 2: Disclaimers

Slide 3: Agenda

Slide 4: Key Updates

Slide 5: Q2'25: Strong Results Above Expectations

Slide 6: Porch's Flywheel is Working

Slide 7: Reciprocal Health Well Ahead of Expectations

Slide 8: Reciprocal Surplus Growth Drives Adjusted EBITDA

Slide 9: Porch is a Resilient Investment in Various Macro Cycles

Slide 10: Financials & Guidance

Slide 11: Q2'25 Results Ahead of Expectations

Slide 12: Q2'25 Porch Shareholder Interest: Exceeded expectations

Slide 13: Insurance Services: High Margin and Predictable

Slide 14: Software & Data: Product Innovation Driving Price

Slide 15: Consumer Services: Investing for 2026 Growth

Slide 16: Corporate Expenses: Strong Cost Controls

Slide 17: Continued Strong Cash Generation

Slide 18: Increasing 2025 Guidance Across the Board

Slide 19: Strategic Update & KPIs

Slide 20: Insurance Services: Q2 2025 KPIs + Updates

Slide 21: Reciprocal Health Well Ahead of Expectations

Slide 22: Software & Data: Q2 2025 KPIs + Updates

Slide 23: Consumer Services: Q2 2025 KPIs + Updates

Slide 24: Wrap Up

Slide 25: Wrap Up: Strong Q2 Results; Improved Outlook

Slide 26: Q2 2025 Earnings Q&A

Slide 27: Appendix

Slide 28: Porch Shareholder Interest Breakdown

Slide 29: Porch Shareholder Interest Cash Flow from Operations

Slide 30: Non-GAAP Financial Measures

Slide 31: Glossary

Slide 32: Thank You