Porch Group, Inc. held its Investor Day on December 5, 2024, reiterating its Q4 2024 Adjusted EBITDA guidance midpoint of $32 million. The company also announced that its insurance carrier, Homeowners of America (HOA), is expected to conclude 2024 with a surplus exceeding $100 million.
The company outlined plans to significantly scale its Gross Written Premium (GWP) to $500 million in 2025, $600 million in 2026, and a long-term target of $3 billion over approximately 10 years. These targets do not include potential upside from new states, products, or M&A.
Porch Group reaffirmed its Adjusted EBITDA targets of $50 million for 2025 and $100 million for 2026. Additionally, corporate costs are projected to decrease from $61 million in 2023 to $40 million in 2026, reflecting a focus on operational efficiency.
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