Trade Porch Group Inc - PRCH CFD

Trade Porch Group Inc - PRCH

About Porch Group Inc

Porch Group, Inc. is a vertical software platform for the home, providing software and services to home services companies. The Company provides software and services to several home service industries, including home inspectors, moving companies, utility companies, home insurance, warranty companies, and others. Porch offers a Moving Concierge service that home services companies can provide to their end customers in order to improve the moving and home improvement experience. It also offers home service companies to grow their business through new customer acquisition. The Company offers a range of services to homebuyers, including insurance, moving, security, television or Internet, home repair and improvement, and more. The Company operates under a number of brands, such as Inspection Support LLC (ISN), Porch’s enterprise resource planning (ERP) and customer relationship management (CRM) software, HireAHelper, where it provides software and demand for moving companies.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Porch Group Inc revenues increased from $72.3M to $192.4M. Net loss applicable to common stockholders increased 49% to $106.6M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Selling and marketing - Balancing value increase of 100% to $75.1M (expense).