PORCH GROUP INC. DL-,0001

Porch Group saw a sharp share-price jump after Q2 figures on July 30. Revenue rose 18% year-on-year to USD 140.9 million, driven by the Insurance Services division with growth of 38%. The company achieved the turnaround with a net profit of USD 5.6 million, and adjusted EBITDA also climbed markedly. » Más en finanzen.net

Porch Group reported Q2 revenue of $140.9 million and EPS of $0.05, both well above consensus expectations. Adjusted EBITDA (excluding Reciprocal) rose to $39.1 million (+150% year/year) and net income attributable to shareholders was $5.6 million. Management raised the full-year revenue guidance to $506–517 million and adjusted EBITDA guidance to $119–125 million. In addition, BlackRock reported a 7.2% stake (about 7.9 million shares), which, together with a strong insurance business (+38% revenue growth), lifted the premarket share price by roughly 19%. » Más en de.investing.com

Porch Group CEO Matt Ehrlichman sold 120,368 common shares in an open-market, sell-to-cover transaction worth about $1.2 million to satisfy tax withholding on vested performance RSUs. The non-discretionary sale left his direct holdings at 15,972,080 shares and was executed at a weighted average price of roughly $9.78, near recent market levels. The filing is described as routine and not indicative of a change in his selling pattern; Porch Group reported continued revenue growth but remains unprofitable with a market cap near $1.07 billion. » Más en finance.yahoo.com