Porch Group, Inc. · NASDAQ:PRCH

Porch — Q3 2026 Earnings Presentation

48 slides from Porch's earnings presentation, Oct 28, 2026

Slide 2: Disclaimers
Financial Targets Disclaimers 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: Porch Investment Highlights
Porch Investment Highlights Massive Opportunities Defensible Strategy Profitable & Predictable ~$200B U.S. Homeowners Unique property data for ~90% of $138m ‘26 Adj EBITDA Guidance¹ Insurance TAM U.S. homes creates best-in-class $660m Medium-Term Target² <2% penetration in TX (top state) Reciprocal
Slide 4: Targeting U.S. Homeowners Insurance in a Compelling Way
Targeting U.S. Homeowners Insurance in a Compelling Way As the manager of a 3rd party-owned Reciprocal, Porch participates in the large and growing US Homeowners Insurance market. We differentiate with a high margin, commission and fee-based business model with low earnings volatility. This results
Slide 6: Porch: A New Kind Of Homeowners Insurance Company
Porch: A New Kind Of Homeowners Insurance Company Software Vertical & Data Software Insurance Services for Consumers Differentiators to win Unique assets, strong SaaS Warranty, moving and home margins SaaS and insights for home into inspection, management services US homebuyers title, mortgage, and
Slide 7: Software Brands Have Strong Market Share in Key Industries
Software Brands Have Strong Market Share in Key Industries Roughly half of all US home inspections¹ ~40% of title transactions² Leading POS software for mortgage Measurement software for roofers Notes: 1) ISN, Home Inspector Pro and Palmtech inspection volume as a percentage of estimated 2025 home i
Slide 8: Our Data "Home Factors" Provides Unique Property Insights
Our Data "Home Factors" Provides Unique Property Insights Competitors know about people and geographies with little property data We know how people, geographies, and homes are unique We have Home Factors for ~90% of U.S. homes Copyright 2026 Porch Group, Inc. All rights reserved 8
Slide 9: With Unique Data, Reciprocal Aims to Target Lower Risk Homes
With Unique Data, Reciprocal Aims to Target Lower Risk Homes Higher prices for homes with more risk than the market realizes Lower prices for homes with less than average risks Higher Risk = Surcharge Market Pricing Jack S Lower Risk = Discount Water heater is 20 years old, in the attic, with rust J
Slide 10: Better Risk Selection Drives Exceptional Reciprocal Results
Better Risk Selection Drives Exceptional Reciprocal Results Reciprocal Gross Loss Ratio U.S. Homeowners Industry Direct Incurred Loss Ratio 1 Reciprocal Attritional Loss Ratio (Excl. CAT Weather) Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2
Slide 11: 2025 AM Best Report: Top Quartile Underwriting Performance
2025 AM Best Report: Top Quartile Underwriting Performance U.S. >$350m Direct Premiums Earned: 2025 Direct Combined Ratio¹ 200% 150% 100% 61% 50% 0% 1 2 3 4 * 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53
Slide 12: More Margin in the System, Better Results for Porch Shareholders
More Margin in the System, Better Results for Porch Shareholders 5 Income Streams Generate Strong Financial Results for Porch, while the Reciprocal also grows surplus TTM Insurance Services Adj EBITDA % of RWP at 28%¹ Low earnings volatility reinsurance Policy fees Fees for homebuyer leads 3 2 4 Man
Slide 13: Insurance Services is Porch's Largest Business & Rule of 80
Insurance Services is Porch’s Largest Business & Rule of 80 Trailing Twelve-Month Mix: Adjusted EBITDA Insurance Services Rule of 80 (Excluding Reciprocal) 100% 90% 88% 4% 80% 10% 70% 60% 49% 50% 40% 30% 86% 20% 39% 10% 0% Q3'26 Insurance Services Software & Data Consumer Services Insurance Services
Slide 14: RWP & Policies Written Drive Strong Adj. EBITDA
RWP & Policies Written Drive Strong Adj. EBITDA $50 $161M $44 Reciprocal Written Premium 31% ¹ + 28% ² 68K Reciprocal Policies Written Insurance Services Porch Group Adjusted EBITDA Adjusted EBITDA (Excluding Reciprocal) Notes: All numbers are $million unless otherwise stated and are unaudited. ¹ Re
Slide 15: Reciprocal Formation Strengthens Earnings Power
Reciprocal Formation Strengthens Earnings Power Adjusted EBITDA¹ ($m) > $180 $138 $77 $7 January 1, 2025 transition from carrier to operator ($45) of Reciprocal 2023 2024 2025 2026 Guidance 2 2027 Initial Combined 3 Company Target Net Income Attributable to Porch: ($134) ($33) ($3) --- --- All numbe
Slide 16: Cash Generative Model Improves Balance Sheet
Cash Generative Model Improves Balance Sheet Porch Net Leverage Ratio¹ 5.0x 4.7x 4.4x 4.5x 4.0x 3.5x 3.5x 3.0x 2.4x 2.0x - 3.0x 2.5x 2.0x 1.5x 1.0x 0.5x 0.0x Q4'25 Q1'26 Q2'26 Q3'26 …... 2026 Target ² Notes: 1) Net leverage ratio defined as total debt minus Porch cash, short-term investments and lon
Slide 17: Reciprocal Statutory Surplus Grew +$22M Year-over-Year
Reciprocal Statutory Surplus Grew +$22M Year-over-Year Statutory Surplus Supports RWP Capacity of Approaching $1B¹ $ mil. $200 $174 $160 $152 $120 $80 $40 $0 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 +15% YoY +$22m YoY RWP capacity of >$2B when including non-admitted assets² Notes: All numbers are $
Slide 18: Top of the Funnel: Increasing the Pool of Potential Customers
Top of the Funnel: Increasing the Pool of Potential Customers More Producing Agency Branch Locations... Drives Higher Quote Volumes Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 +114% YoY +79% YoY Notes: Quote volumes and producing agency branch locations are ba
Slide 19: Conversion: Optimizing for Sustainable Growth + Profitability
Conversion: Optimizing for Sustainable Growth + Profitability Conversion Remains Elevated on a YoY Basis Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 +53% YoY Notes: Conversion rates relate to new policies. Conversion rates for new policies are based on internal data and are shown in the charts on quar
Slide 20: RWP from New Customers Continues to Climb
RWP from New Customers Continues to Climb RWP from New Customers Inflecting Higher Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 +178% 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 20
Slide 21: Expansion Underway: Reciprocal Policies Written Scaling
Expansion Underway: Reciprocal Policies Written Scaling Policy Growth Supports Sustainable Premium Growth 67.5K 47.7K Q3'25 Q3'26 +42% YoY Copyright 2026 Porch Group, Inc. All rights reserved 21
Slide 22: Ahead of Schedule for Medium-Term Targets
Ahead of Schedule for Medium-Term Targets¹ Reciprocal Written Premium Adjusted EBITDA (RWP) (Excluding Reciprocal) $ mil. $ mil. $660 $3,000 >$900 > $180 $600 $138 $481 $77 2025 2026 Target 2 2027 Initial ***** Medium-Term 2025 2026 2027 Initial ***** Medium-Term Combined Target Guidance Combined Ta
Slide 24: We Have Created the Optimal Structure with the Reciprocal
We Have Created the Optimal Structure with the Reciprocal Porch Group Reciprocal Owned by Policyholders Policyholders (members) Insurance & Premiums Claims & Surplus Payments Commission & Fees Software & Data Operating Services Insurance Surplus note Services ($106m @ 9.75% + SOFR) (“the Reciprocal”
Slide 25: We Have Early Insights into ~90% of U.S. Homes
We Have Early Insights into ~90% of U.S. Homes Mortgage Receives Porch App Purchases Books Sets up utilities Home projects application inspection & home movers and cable and begins Moving insurance security Title file Concierge Purchases opened home warranty Copyright 2026 Porch Group, Inc. All righ
Slide 26: With Early Access, the Reciprocal Targets Homebuyers
With Early Access, the Reciprocal Targets Homebuyers ~$200bn U.S. Homeowners Insurance TAM1 40% of new policies We can reach homebuyers without are homebuyers2 massive brand spend 60% never switch3 60% never switch3 Homebuyers retain better 1) Source: S&P Market Intelligence U.S. Total Homeowners Di
Slide 29: 99.4% Monthly Logo Retention
Our Software Supports All Parts of an Inspection Business CRM and Workflow Key Metrics Report Writer ~9,000 Inspection Companies1 ~50% Of Inspections2 Payment Processing Office Services 99.4% Monthly Logo Retention 3 Growth Tools 55 Net Promoter Score4 Notes: 1) Unique inspection companies across al
Slide 30: We Are The Gold Standard in Title Software Solutions
We Are The Gold Standard in Title Software Solutions One Easy-To-Use Platform Key Metrics ~2,400 # of title companies 99.2% Monthly Logo Retention 1 62 Net Promoter Score Notes: All figures are updated as of February 2026 1) Defined as average monthly logo retention rate from January 2025 to Decembe
Slide 31: The Housing Industry Has Faced Headwinds
The Housing Industry Has Faced Headwinds U.S. Home Sales1 Remain in the Trough… …So Do Refinance Transactions2 6.9 8.3 5.7 4.8 4.8 4.8 2.3 2.0 0.8 1.0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 All data represents millions unless otherwise stated. (1) Source: Mortgage Bankers Association Tota
Slide 32: Our Software Businesses Drive Ongoing Innovation
Our Software Businesses Drive Ongoing Innovation Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q3 2026 Microservices framework New Title Production Smart Scheduling AI Image Defect Dynamics App Dynamic AI and Plaid Integration Integration (Settlor) added to mobile app Detector 2.0 Autofill Q4 2024 Q1 2025
Slide 33: Resulting in Continued Increase in Revenue Per Transaction
Resulting in Continued Increase in Revenue Per Transaction $10.49 Total Software1 $9.62 $8.68 $8.29 $6.53 $6.84 Rynoh $6.02 $4.87 $3.68 $2.47 2021 2022 2023 2024 2025 (1) Includes transactions from Floify (number of loan applications), ISN (number of inspections), Rynoh (number of closed files). Rev
Slide 34: Billions of Data Insights on Properties and Households
Billions of Data Insights on Properties and Households Property Info Household Info Home interior Wealth / Financial Home exterior Buyer intent Risk insights Interests / hobbies Car in the garage Life events Homebuyers Demographics Movers Active shoppers Copyright 2026 Porch Group, Inc. All rights r
Slide 35: We Are Producing Unique Insights
We Are Producing Unique Insights Foundation repair/replace Electrical panel repair Windows repair/replace Roofing repair/replace Electrical wiring repair Electrical outlet repair flag Sump pump repair/replace Copyright 2026 Porch Group, Inc. All rights reserved 35
Slide 36: Example: Electrical Panel Needing Repair / Replacement
Example: Electrical Panel Needing Repair / Replacement Our data indicated a ~41% higher claims frequency 18% Current 13% discount pricing surcharge 39% of Policyholders 33% of Policyholders WITHOUT electrical WITH electrical panel panel repair repair needed Copyright 2026 Porch Group, Inc. All right
Slide 39: Well-Positioned to Grow through Diverse Demand Channels
Well-Positioned to Grow through Diverse Demand Channels Real Estate & D2C Inspection Partnerships Insurance Utilities Copyright 2026 Porch Group, Inc. All rights reserved 39
Slide 40: Connecting with Consumers Across the Home Journey
Connecting with Consumers Across the Home Journey Moving Services Moving Concierge Porch App & Website Porch Home Concierge "My team can help you throughout the entire moving process, down to every last detail." Home Insurance Home Warranty Movers TV/Internet Home Security Home projects Copyright 20
Slide 41: We're the 2nd Largest Moving Labor Provider
We’re the 2nd Largest Moving Labor Provider Operating several Long-term partnerships with brands on one platform largest moving companies ~92K completed moves in 2025 with 4.8/5 customer satisfaction Copyright 2026 Porch Group, Inc. All rights reserved 41
Slide 43: Leadership & Values: Strong Leadership Team
Leadership & Values: Strong Leadership Team Matt Ehrlichman Shawn Tabak Matthew Neagle Nicole Pelley CEO, Chairman & Founder Chief Financial Officer Chief Operating Officer EVP, Porch Platform John Campbell Tyler Cobb Nathan Smith Jake Miller Meghan Silver Hilary Cahill VP Investor Relations VP, Cor
Slide 44: Leadership & Values: Our Insurance Leadership Team
Leadership & Values: Our Insurance Leadership Team Efram Ware Eric Lemieur Mike Capuzzi Chad Mirock Alice Robinson Andrea Ferrari Nathan Smith President and GM Sales & Distribution Ops & Claims Product Chief Actuary Underwriting Accounting Copyright 2026 Porch Group, Inc. All rights reserved 44
Slide 45: Leadership & Values: We Lead With Our Values
Leadership & Values: We Lead With Our Values No Jerks / Be Solve Care Together No Egos Ambitious Each Problem Deeply We Win Copyright 2026 Porch Group, Inc. All rights reserved 45
Slide 46: Non-GAAP Financial Measures
Non-GAAP Financial Measures These slides, our earnings releases, and our earnings calls include references to non-GAAP financial measures, such as Adjusted EBITDA (Excluding Reciprocal), Adjusted EBITDA (Excluding Reciprocal) % of RWP, Insurance Services Adjusted EBITDA, Insurance Services Adjusted
Slide 47: Loss Ratio Reconciliations
Loss Ratio Reconciliations Notes: Gross Loss Ratio and Attritional Loss Ratio (excl. CAT) are provided on a current accident year basis Attritional loss ratio excludes catastrophic weather claims. Attritional loss ratio is a non-GAAP financial measure. Please see slide 2 and appendix for important i
Slide 48: Glossary
Glossary Term Definition We calculate by deducting the Gross Loss Ratio related to catastrophic weather events from total Gross Loss Ratio. Catastrophic weather events include, without limitation, Attritional Loss Ratio hurricanes, tornados, earthquakes, hailstorms, wildfires, high winds, and winter

Porch Group — Q3 2026 Earnings Presentation on 6ix

Porch — Q3 2026 Earnings Presentation

Slide 1: Porch Group Corporate Presentation

Slide 2: Disclaimers

Slide 3: Porch Investment Highlights

Slide 4: Targeting U.S. Homeowners Insurance in a Compelling Way

Slide 5: Our strategy drives differentiation and competitive advantages

Slide 6: Porch: A New Kind Of Homeowners Insurance Company

Slide 7: Software Brands Have Strong Market Share in Key Industries

Slide 8: Our Data "Home Factors" Provides Unique Property Insights

Slide 9: With Unique Data, Reciprocal Aims to Target Lower Risk Homes

Slide 10: Better Risk Selection Drives Exceptional Reciprocal Results

Slide 11: 2025 AM Best Report: Top Quartile Underwriting Performance

Slide 12: More Margin in the System, Better Results for Porch Shareholders

Slide 13: Insurance Services is Porch's Largest Business & Rule of 80

Slide 14: RWP & Policies Written Drive Strong Adj. EBITDA

Slide 15: Reciprocal Formation Strengthens Earnings Power

Slide 16: Cash Generative Model Improves Balance Sheet

Slide 17: Reciprocal Statutory Surplus Grew +$22M Year-over-Year

Slide 18: Top of the Funnel: Increasing the Pool of Potential Customers

Slide 19: Conversion: Optimizing for Sustainable Growth + Profitability

Slide 20: RWP from New Customers Continues to Climb

Slide 21: Expansion Underway: Reciprocal Policies Written Scaling

Slide 22: Ahead of Schedule for Medium-Term Targets

Slide 23: Insurance Services

Slide 24: We Have Created the Optimal Structure with the Reciprocal

Slide 25: We Have Early Insights into ~90% of U.S. Homes

Slide 26: With Early Access, the Reciprocal Targets Homebuyers

Slide 27: Software & Data

Slide 28: Software & Data Segment: Brands

Slide 29: 99.4% Monthly Logo Retention

Slide 30: We Are The Gold Standard in Title Software Solutions

Slide 31: The Housing Industry Has Faced Headwinds

Slide 32: Our Software Businesses Drive Ongoing Innovation

Slide 33: Resulting in Continued Increase in Revenue Per Transaction

Slide 34: Billions of Data Insights on Properties and Households

Slide 35: We Are Producing Unique Insights

Slide 36: Example: Electrical Panel Needing Repair / Replacement

Slide 37: Consumer Services

Slide 38: Consumer Services Segment: Brands

Slide 39: Well-Positioned to Grow through Diverse Demand Channels

Slide 40: Connecting with Consumers Across the Home Journey

Slide 41: We're the 2nd Largest Moving Labor Provider

Slide 42: Appendix

Slide 43: Leadership & Values: Strong Leadership Team

Slide 44: Leadership & Values: Our Insurance Leadership Team

Slide 45: Leadership & Values: We Lead With Our Values

Slide 46: Non-GAAP Financial Measures

Slide 47: Loss Ratio Reconciliations

Slide 48: Glossary