Porch Group Inc - Ordinary Shares - Class A

NASDAQ:PRCH   3:59:52 PM EDT
18.73
+0.08 (+0.43%)
Positive Earnings Pre-Announcement

Porch Group Announces Two Strategic Acquisitions To Accelerate Insurtech Ambitions Across The U.S.

Published: 09/09/2021 20:46 GMT
Porch Group Inc - Ordinary Shares - Class A (PRCH) - Porch Group Announces Two Strategic Acquisitions to Accelerate Its Insurtech Ambitions Across the U.S.increases Full Year 2021 Revenue Guidance From $184 Million to $187.5 Million.
Executed Definitive Agreement to Acquire Cse Insurance, and Umbrella.
Porch and CovÉa Have Executed a Definitive Agreement for Porch to Acquire Cse Insurance.
Porch Also Signed and Closed Its Acquisition of American Home Protect.
Acquiring Cse for $48.6 Million of Cash at Closing, Purchase Price for Ahp Was $38.6 Million Upfront.
Cse is Expected to Be Immediately Accretive to Porch's Balance Sheet at Close.
Tightening FY Adjusted EBITDA Margin Guidance Range to -14% to -16% From -13% to -16%.
FY2021 Revenue View $185.2 Million -- Refinitiv Ibes Data (analyst estimates).
Porch Group - Anticipates Impact to 2022 Revenue From Both Businesses of About $30 Million, With Both Businesses Expected to Operate at About Breakeven in 2022.
Revenue is expected to be $56.83 Million
Adjusted EPS is expected to be -$0.16

Next Quarter Revenue Guidance is expected to be $51.99 Million
Next Quarter EPS Guidance is expected to be -$0.12

More details on our Analysts Page.