Porch Group, Inc. · NASDAQ:PRCH
Porch — Q2 2026 Earnings Presentation
36 slides from Porch's earnings presentation, Jul 29, 2026
Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation July 29, 2026 Copyright 2026 Porch Group, Inc. All rights reserved
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
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 2026 Porch Group, Inc. All rights reserved 3
Slide 4: Key Updates
Key Updates Matt Ehrlichman CEO, Chairman & Founder Copyright 2026 Porch Group, Inc. All rights reserved 4
Slide 5: RWP Converting To Strong Adjusted EBITDA
RWP Converting To Strong Adjusted EBITDA $140 ¹ $44 32% $39 28% ² Reciprocal Written Premium Insurance Services Adjusted EBITDA (RWP) Adjusted EBITDA (Excl. Reciprocal) Notes: All numbers are $million unless otherwise stated and are unaudited. ¹ Refers to Insurance Services Adjusted EBITDA (Excludin
Slide 6: The Insurance Growth Engine
The Insurance Growth Engine RWP from New Capacity Top of Funnel Conversion Customers Copyright 2026 Porch Group, Inc. All rights reserved 6
Slide 7: Reciprocal Policies Written Grew 38% YoY
Reciprocal Policies Written Grew 38% YoY Policy Growth Supports Sustainable Premium Growth 58.7K 42.5K Q2'25 Q2'26 +38% YoY Copyright 2026 Porch Group, Inc. All rights reserved 7
Slide 8: Statutory Surplus Improves Again
Statutory Surplus Improves Again Statutory Surplus Supports Strong Growth Capacity $ mil. $180 $170 $160 $140 $127 $120 $100 $80 $60 $40 $20 $0 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 +33% YoY +$43m YoY Capacity Top of Funnel Conversion Notes: All numbers are $million unless otherwise stated and are unaudited
Slide 9: Agency and Quote Volumes Grow Rapidly
Agency and Quote Volumes Grow Rapidly More Producing Agency Branch Locations... Drives Higher Quote Volumes Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 +148% YoY +87% YoY Capacity Top of Funnel Conversion Notes: Quote volumes and agency branch locations are based on internal data and
Slide 10: Conversion Rates Impacted by Softer Market
Conversion Rates Impacted by Softer Market Conversion Remains Elevated on a YoY Basis Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 +58% YoY Capacity Top of Funnel Conversion Notes: Conversion rates relate to new policies. Conversion rates for new policies are based on internal data and are shown in the charts on q
Slide 11: Conversion Improved Exiting Q2
Conversion Improved Exiting Q2 Conversion Inflection Following June Actions Conversion Rate Trend Conversion lift Soft market impact June actions 5/21 - 5/27 5/28 - 6/3 6/4 - 6/10 6/11 - 6/17 6/18 - 6/24 6/25 - 7/1 7/2 - 7/8 7/9 - 7/15 Capacity Top of Funnel Conversion Notes: Conversion rate is calc
Slide 12: RWP From New Customers Tripled YoY
RWP From New Customers Tripled YoY RWP from New Customers Inflecting Higher Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 +206% YoY Notes: RWP from new customers is based on internal data and is shown on a quarterly total basis. Copyright 2026 Porch Group, Inc. All rights reserved 12
Slide 13: Financials & Guidance
Financials & Guidance Shawn Tabak Chief Financial Officer Copyright 2026 Porch Group, Inc. All rights reserved 13
Slide 14: Q2'26 Profitability Step-Up
Q2'26 Profitability Step-Up +150% YoY growth driven by Insurance Services Net Income Adjusted EBITDA Attributable to Porch (Excluding Reciprocal) $5.6 $39.1 $2.6 $15.6 117% 150% YoY YoY Q2'25 Q2'26 Q2'25 Q2'26 Notes: All numbers are $million unless otherwise stated and are unaudited. Adjusted EBITDA
Slide 15: Q2'26 Revenue
Q2'26 Revenue Insurance Services revenue & policies written grew 38% Consolidated Revenue Porch-Owned Segments Revenue Insurance Services Revenue (Excluding Reciprocal) $140.9 $126.1 $131.8 $107.0 $92.9 $67.4 12% 23% 38% YoY YoY YoY Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 Notes: All numbers are $million
Slide 16: Insurance Services
Insurance Services Strong revenue growth driven by growth in policies written Revenue Gross Profit Adjusted EBITDA $92.9 $81.2 $67.4 $57.9 $44.0 38% 40% $19.7 126% YoY YoY YoY Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 86% margin 87% margin 29% margin 48% margin • 38% YoY revenue growth driven by RWP and g
Slide 17: Software & Data and Consumer Services
Software & Data and Consumer Services Steady results in a stagnant housing market Revenue Gross Profit Adjusted EBITDA $24.0 $23.1 $18.2 $17.4 Software & Data -4% -4% $5.5 -6% $5.2 YoY YoY YoY Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 Revenue Gross Profit Adjusted EBITDA $17.6 $18.1 $15.2 $15.3 Consumer S
Slide 18: Reciprocal
Reciprocal Statutory surplus grew 33% YoY driven by strong underwriting Statutory Surplus $169.9 $127.0 33% YoY Q2'25 Q2'26 • Statutory surplus +33% YoY • Q2 2026: Gross Loss Ratio 38% | Attritional Loss Ratio 18% Notes: All numbers are $million unless otherwise stated and are unaudited. Attritional
Slide 19: Balance Sheet Update
Balance Sheet Update $127m $331m Porch-Owned Segments & Corporate Reciprocal Cash + Investments1 Cash + Investments2 as of June 30, 2026 as of June 30, 2026 ▪ Porch cash + investments slight decrease versus Q1’26, driven by: o 2.1 million share purchase (from the Reciprocal) o Bi-annual interest pay
Slide 20: 2026 Porch-Owned Segments Guidance
2026 Porch-Owned Segments Guidance Raising guidance following strong Q2 Revenue (Excluding Reciprocal) $506m to $517m Midpoint of $512m represents 22% YoY growth Prior Guidance: $495m to $507m Prior guidance midpoint represented 20% YoY growth Gross Profit (Excluding Reciprocal) $419m to $429m Midpo
Slide 21: Strategic Update & KPIs
Strategic Update & KPIs Matthew Neagle Chief Operating Officer Copyright 2026 Porch Group, Inc. All rights reserved 21
Slide 22: AI Updates
AI Updates Deeper AI Engagement 1• Existing advantaged position with proprietary data; value rises as AI capabilities mature 2• Broad adoption of AI tooling and early productivity improvements across engineering 3• AI is improving product and support capabilities Copyright 2026 Porch Group, Inc. All
Slide 23: Insurance Services Q2'26 KPIs
Insurance Services Q2'26 KPIs New customers driving growth in policies written Reciprocal Written Premium (RWP) Reciprocal Policies Written RWP Per Policy Written¹ $139.8 $120.7 58.7K $2,843 $2,383 42.5K 16% 38% -16%* YoY YoY YoY Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 *RWP Per Policy Written declined Y
Slide 24: Software & Data + Consumer Services Q2'26 KPIs
Software & Data + Consumer Services Q2'26 KPIs Average Number of Companies Annualized Average Revenue Per Company¹ 24.2K $4,926 18.7K $3,974 Software & Data -22% YoY 24% YoY Q2'25 Q2'26 Q2'25 Q2'26 Number of Monetized Services Average Revenue Per Monetized Service¹ 87.2K 83.9K $202 $216 -4% 7% Consu
Slide 25: Wrap Up
Wrap Up Matt Ehrlichman CEO, Chairman & Founder Copyright 2026 Porch Group, Inc. All rights reserved 25
Slide 26: Wrap Up: Strong Execution Across the Board
Wrap Up: Strong Execution Across the Board 1• Raised outlook: $122M Adj. EBITDA (Excl. Reciprocal) midpoint, tracking $660M MT target 2• Growth engine strengthening: 38% policy growth and $600M RWP on track 3• Stronger financial profile: Rule of 50, path to <3x leverage, positive net income Notes: A
Slide 27: Q2'26 Earnings Q&A
Q2'26 Earnings Q&A Copyright 2026 Porch Group, Inc. All rights reserved 27
Slide 28: Appendix
Q2'26 Earnings APPENDIX Copyright 2026 Porch Group, Inc. All rights reserved 28
Slide 29: Q2'26 Gross Profit
Q2'26 Gross Profit Consolidated Gross Profit Porch-Owned Segments Gross Profit (Excluding Reciprocal) $111.6 $87.6 $82.7 $89.2 6% 25% YoY YoY 15% YoY Y Q2'25 Q2'26 Q2'25 Q2'26 Yo -1% Notes: All numbers are $million unless otherwise stated and are unaudited. Porch-Owned Segments Gross Profit (Excludi
Slide 30: Q2'26 Adjusted EBITDA (Excluding Reciprocal) Bridge
Q2'26 Adjusted EBITDA (Excluding Reciprocal) Bridge $3.2 $5.2 $44.4 $39.1 ($13.8) Insurance Services Software & Data Consumer Services Unallocated Adj. EBITDA Adj. EBITDA Adj. EBITDA Corporate Expenses Q2'26 Adjusted EBITDA & Eliminations (Excl. Reciprocal) $81.2m $17.4m $15.3m $5.6m Gross Profit Gr
Slide 31: Q2'26 Segment Level Results
Q2'26 Segment Level Results Insurance Services Software & Data Consumer Services Reciprocal Revenue $92.9m $23.1m $18.1m $59.6m Gross Profit $81.2m $17.4m $15.3m $22.7m Adj EBITDA $44.4m $5.2m $3.2m Unallocated corporate expenses were $13.8m Notes: All numbers are $million unless otherwise stated an
Slide 32: Insurance Services: High Margin and Predictable
Insurance Services: High Margin and Predictable Key: From Reciprocal From Policyholders Low earnings volatility From Third Parties reinsurance Policy fees Fees for homebuyer leads 3 2 4 Management fees Surplus note interest Insurance Services 1 Income Streams 5 $140m $92.9m $81.2m $44.4m Reciprocal
Slide 33: Non-GAAP Financial Measures
Non-GAAP Financial Measures These slides, our earnings release, and our earnings call include references to non-GAAP financial measures, such as Porch-Owned Segments Revenue (Excluding Reciprocal), Porch-Owned Segments Gross Profit (Excluding Reciprocal), Adjusted EBITDA (Excluding Reciprocal), Adju
Slide 34: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Notes: All numbers are $million unless otherwise stated and are unaudited. Adjusted EBITDA (Excluding Reciprocal), Adjusted EBITDA Margin (Excluding Reciprocal), Adjusted EBITDA (Excluding Reciprocal) % of RWP, and Attritional Loss Ratio are non-GAAP financial mea
Slide 35: Glossary
Glossary Term Definition 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, for Annualized Average Revenue per Company a given quarter, multiplied by 4). Average Number of Comp
Slide 36: Thank You
THANK YOU Email: IR@porch.com Website: IR.porchgroup.com Copyright 2026 Porch Group, Inc. All rights reserved 36