Porch Group, Inc. (PRCH) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, and thank you for participating in Porch Group's first quarter 2026 conference call. Earlier today, we issued our earnings release and filed our related form 8K with SEC. The earnings release and today's presentation are available on our investor relations website at ir.porchgroup.com. Before we begin, I'd like to review the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995, which provides important cautions regarding forward-looking statements. Today's discussion, including responses to your questions, reflects management views as of today, April 28th, 2026. We undertake no obligation to update or revise these remarks. We will make forward-looking statements that involve risk and uncertainties, and actual results may differ materially. Please refer to the information on this slide in our SEC filings for additional detail. We will also reference certain non-GAAP financial measures. Reconciliations are included in today's earnings release, and also a replay of this webcast is going to be available shortly after the call on our investor relations site. So joining me here today are Matt Ehrlichman, Porch's CEO, Chairman and Founder, John DeBak, Porch's CFO, and Matthew Nagel, Porch's COO. With that, I'll turn the call over to Matt for his key updates. Thank you, John. Good afternoon, everyone. We are pleased to report a strong start to 2026. Q1 results exceeded expectations, and we're raising our full year guidance for Porch shareholder interest revenue. gross profit and adjusted EBITDA. Portra is now a simpler, higher margin fee and commission based business. One that's built to compound premium and cash flow over time without the earnings volatility often associated with risk bearing insurance ca...