The strong Q3 beat and second consecutive guidance raise confirm accelerating momentum in the core insurance business. The Allied Trust acquisition, if completed in Q1 2027, would add scale and geographic diversification at a sub-4x EBITDA multiple. Monitor the Q4 2026 earnings for integration updates and any regulatory developments regarding the Texas Department of Insurance approval for the Allied Trust deal.
Price Chart
Executive Summary
Porch Group reported Q3 2026 Porch-Owned Segments Revenue (Excluding Reciprocal) of $140.8M, up 22% YoY, and GAAP net income attributable to Porch of $12.2M versus a $(10.9)M loss a year ago. Adjusted EBITDA (Excluding Reciprocal) more than doubled to $44.5M. The company raised full-year 2026 guidance for revenue to $518M-$523M (24-25% YoY growth) and Adjusted EBITDA to $135M-$140M (76-83% YoY growth). Separately, Porch announced the pending acquisition of Allied Trust for a total consideration of $150M across two transactions, expected to close in Q1 2027.
Key Financial Metrics
Key Facts
- Porch-Owned Segments Revenue (Excluding Reciprocal) was $140.8M in Q3 2026, up 22% YoY from $115.1M.
- Insurance Services segment revenue was $102.8M, up 39% YoY.
- Adjusted EBITDA (Excluding Reciprocal) was $44.5M, up 116% YoY from $20.6M.
- GAAP net income attributable to Porch was $12.2M in Q3 2026 vs a $(10.9)M loss in Q3 2025.
- Reciprocal Policies Written grew 42% YoY to 67.5k policies.
- Full-year 2026 guidance raised: Porch-Owned Segments Revenue (Excluding Reciprocal) to $518M-$523M (prior $506M-$517M), Adjusted EBITDA (Excluding Reciprocal) to $135M-$140M (prior $119M-$125M).
- Pending acquisition of Allied Trust: Reciprocal to acquire insurance carrier for $55M cash plus $50M deferred consideration; Porch to acquire MGA and captive reinsurer for $95M ($75M cash + $20M in PRCH shares).
- Porch's cash and investments (excluding Reciprocal) stood at $164.7M as of September 30, 2026, up from $126.8M at June 30, 2026.
- Convertible debt outstanding was $467.3M as of September 30, 2026, down from $475.1M at March 31, 2026 due to repayment of the 2026 Notes.
Financial Impact
Q3 Porch-Owned Segments Revenue grew 22% YoY to $140.8M; Adjusted EBITDA more than doubled to $44.5M. Full-year guidance raised by $12M-$6M on revenue and $16M-$15M on Adjusted EBITDA. The Allied Trust acquisition has a total base purchase price of $150M across two transactions.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Insurance Services | $102.8M | +39.3% |
| Software Data | $22.3M | -9.4% |
| Consumer Services | $18.3M | -5.5% |
Risk Factors
- The Allied Trust acquisition is subject to regulatory approvals, including from the Texas Department of Insurance, and may not close on the anticipated timeline or at all.
- The company carries $467.3M in convertible debt, and a decline in share price could impact the Reciprocal's surplus position.
- Insurance operations are exposed to weather events, wildfires, and catastrophe losses that could affect underwriting profitability.
- Software Data segment revenue declined 9% YoY and Average Number of Companies fell 22%, indicating ongoing headwinds in that segment.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001784535-26-000058 |
| Document: prch-20261028.htm | 0001784535-26-000058 |
| Document: 0001784535-26-000058-index-headers.html | 0001784535-26-000058 |
| Document: 0001784535-26-000058-index.html | 0001784535-26-000058 |
| Document: 0001784535-26-000058.txt | 0001784535-26-000058 |
| 8-K Data (Synthetic) | 0001784535-26-000058 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 today | Insider Cluster | $19.46 | awaiting T+5 | awaiting T+5 | $20.56 (+5.65%) |
Oct 30, 2026 today | 8-K | $20.09 | awaiting T+5 | awaiting T+5 | $20.56 (+2.34%) |
Oct 30, 2026 today | 424B5 | $20.09 | awaiting T+5 | awaiting T+5 | $20.56 (−2.34%) |
Oct 30, 2026 today | S-3ASR | $20.56 | awaiting T+5 | awaiting T+5 | $20.56 (+0.00%) |
Oct 29, 2026 1d ago | 144 | $19.46 | awaiting T+5 | awaiting T+5 | $20.56 (+5.65%) |
Oct 29, 2026 1d ago | 144 | $20.70 | awaiting T+5 | awaiting T+5 | $20.56 (−0.68%) |
Oct 28, 2026 2d ago | 8-K | $20.89 | awaiting T+5 | awaiting T+5 | $20.56 (−1.58%) |
Oct 22, 2026 8d ago | Insider Cluster | $17.73 $20.56 | ▼ −15.96% | ▼ −16.52% | $20.56 (−15.96%) |
Oct 20, 2026 10d ago | Insider Cluster | $18.59 $17.66 | ▼ −5.00% | ▼ −4.56% | $20.56 (+10.60%) |
Oct 13, 2026 17d ago | 8-K | $16.44 $18.59 | ▲ +13.08% | ▲ +12.62% | $20.56 (+25.06%) |
US Market Status
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