Porch 10-Q Details Q3 Profit Swing: $12.2M Net Income, $44.5M Adjusted EBITDA
PRCH has more than doubled off its 52-week low of $6.36 on elevated volume (2.0× avg).
Summary
Porch's Q3 10-Q confirms the profit swing already announced: $12.2 million net income attributable to Porch versus a year-ago loss, driven by Insurance Services Adjusted EBITDA of $50.1 million, with the Reciprocal Segment slipping to a $3.2 million loss.
Key Events · Earnings and Guidance · PRCH
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Q3 Profit Swing Confirmed
Net income attributable to Porch was $12.2 million, or $0.11 basic and $0.10 diluted, versus a $(10.9) million loss in Q3 2025; nine-month net income attributable to Porch was $13.1 million versus $0.1 million.
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Insurance Services Drives Earnings
Insurance Services Adjusted EBITDA rose to $50.1 million from $25.3 million on a 49% margin, as Reciprocal Written Premium grew 17% to $161.0 million and policies written rose 42%.
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Reciprocal Segment Turns Negative
The Reciprocal Segment posted a $(3.2) million net loss versus $9.9 million of income a year ago, because the April 1, 2026 reinsurance program leaves it ceding less and retaining more losses.
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Liquidity and Debt Position
Porch held $80.1 million of cash and $157.6 million of unrestricted cash and investments; total cash including the Reciprocal was $230.5 million. The 2026 notes were repaid with $7.8 million of cash, leaving $467.3 million of convertible principal outstanding.
Analysis · PRCH · Finance
The headline numbers were already out this morning, but the full 10-Q shows how the profit was made and where the risk sits. Porch swung to $12.2 million of net income attributable to shareholders from a $10.9 million loss a year ago, and nine-month net income reached $13.1 million versus essentially zero. The engine is Insurance Services, where Adjusted EBITDA nearly doubled to $50.1 million on a 49% margin as Reciprocal Written Premium grew 17% to $161.0 million and policies written rose 42%. Against that, the Reciprocal Segment itself lost $3.2 million because the new April 1 reinsurance program leaves it holding more losses, and interest expense rose to $15.1 million. Liquidity is comfortable — $80.1 million of cash at Porch and $230.5 million including the Reciprocal — and the 2026 notes were retired in cash. The pending Allied Trust deal, $200 million split between Porch and the Reciprocal, will not close before January 1, 2027 and could be partly paid in stock.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 38.5% of the 1020 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, PRCH was trading at $20.19 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $6.36 to $18.75. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.