Porch Group, Inc. (PRCH): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de la tecnología de servicios domésticos, Porch Group, Inc. (PRCH) surge como una plataforma innovadora que revoluciona la forma en que los propietarios se conectan con los profesionales de servicios. Al aprovechar los ecosistemas digitales sofisticados y los algoritmos de correspondencia innovadores, esta compañía dinámica transforma el mercado tradicionalmente fragmentado de mantenimiento y reparación del hogar en una experiencia perfecta, transparente y eficiente. Descubra cómo el lienzo de modelo de negocio único de Porch Group integra estratégicamente la tecnología, los proveedores de servicios y los propietarios de viviendas para crear una solución digital integral que simplifique las interacciones complejas del servicio doméstico.

Porch Group, Inc. (PRCH) - Modelo de negocio: asociaciones clave

Proveedores de servicios a domicilio

Porch Group mantiene asociaciones con más de 40,000 profesionales y contratistas de servicios a domicilio en los Estados Unidos a partir del cuarto trimestre de 2023.

Categoría de socio	Número de socios	Cobertura de servicio
Inspectores de casa	12,500	50 estados
Profesionales de reparación del hogar	22,000	48 estados
Contratistas especializados	5,500	Principales áreas metropolitanas

Plataformas de tecnología inmobiliaria

Porch Group colabora con múltiples plataformas de tecnología inmobiliaria.

• Zillow Group Partnership Active desde 2018
• Integración Redfin completada en 2022
• REALTOR.com Asociación estratégica establecida en 2021

Compañías de seguros

Socio	Estado de asociación	Alcance de cobertura
Seguro de hipopótamo	Asociación Estratégica Activa	Integración de seguros de vivienda a nivel nacional
Seguro nacional	Socio de plataforma integrado	37 estados cobertura

Proveedores de garantía del hogar

Porch Group mantiene asociaciones con 5 principales proveedores de garantía del hogar que cubren 42 estados.

• Escudo del hogar americano
• Garantía del hogar de elección
• Primera garantía de American Home
• Seleccionar garantía del hogar
• AFC Home Club

Instituciones de hipotecas y préstamos

Compañero de préstamo	Tipo de asociación	Alcance geográfico
Better.com	Integración digital	50 estados
Hipoteca de cohete	Asociación API	A escala nacional

Porch Group, Inc. (PRCH) - Modelo de negocio: actividades clave

Desarrollo de software para el mercado de servicios para el hogar

En el tercer trimestre de 2023, Porch Group invirtió $ 5.8 millones en gastos de investigación y desarrollo. La compañía mantiene un equipo de desarrollo de software de aproximadamente 127 ingenieros centrados en la mejora de la plataforma.

Métrico de desarrollo	Datos cuantitativos
Gastos anuales de I + D	$ 23.2 millones (2023)
Usuarios de plataforma de software	Más de 380,000 profesionales de servicios activos
Puntos de integración tecnológica	42 módulos de software distintos

Análisis de datos e integración

Porch Group procesa aproximadamente 3,2 millones de transacciones de servicio domiciliario anualmente, generando información significativa de datos.

• Capacidad de procesamiento de datos: 12.5 terabytes por mes
• Algoritmos de aprendizaje automático: 17 modelos predictivos activos
• Puntos de integración de datos en tiempo real: 28 plataformas externas

Adquisición de clientes y gestión de plataformas

La compañía reportó 1,47 millones de clientes en total en el tercer trimestre de 2023, con un costo de adquisición de clientes de $ 47 por usuario.

Métrica de adquisición	Valor
Total de clientes	1.47 millones
Costo de adquisición de clientes	$ 47 por usuario
Usuarios activos mensuales	620,000

Mantenimiento de la plataforma de tecnología

Porch Group mantiene una infraestructura tecnológica robusta con un tiempo de actividad del 99.97% y admite múltiples categorías de servicios.

• Tiempo de actividad de la plataforma: 99.97%
• Infraestructura del servidor: 42 centros de datos basados ​​en la nube
• Certificaciones de cumplimiento de seguridad: 3 estándares de la industria

Expansión de la red de proveedores de servicios

La red incluye 380,000 profesionales de servicios activos en 50 estados.

Métrica de expansión de la red	Valor
Profesionales de servicio totales	380,000
Cobertura geográfica	50 estados de EE. UU.
Categorías de servicio	17 tipos de servicio domésticos distintos

Porch Group, Inc. (PRCH) - Modelo de negocio: recursos clave

Software patentado y plataformas digitales

Porch Group opera una plataforma digital integral con los siguientes activos tecnológicos clave:

Plataforma	Presupuesto
Porch.com Marketplace	Conecta más de 40,000 profesionales de servicios a domicilio con propietarios de viviendas
Software de servicios para el hogar	Admite más de 17,000 empresas activas en gestión de servicios para el hogar

Red profesional extensa de servicios a domicilio

Composición de red a partir de 2023:

• Profesionales de servicio totales: más de 40,000
• Cobertura en 50 estados
• Especialidades que abarcan servicios de mejoras, mantenimiento y reparación del hogar

Infraestructura de datos y tecnología

Detalles de la infraestructura tecnológica:

Componente de infraestructura	Métrica
Procesamiento de datos anual	Más de 2.5 millones de transacciones en el hogar procesadas
Computación en la nube	Arquitectura escalable con sede en AWS

Base de datos de clientes y sistemas de gestión de relaciones

Capacidades de gestión de datos del cliente:

• Total de usuarios registrados: 285,000+
• Interacciones anuales del cliente: aproximadamente 1.2 millones

Patentes de propiedad y tecnología intelectual

Cartera de propiedades intelectuales:

Categoría de IP	Contar
Patentes registradas	12 patentes relacionadas con la tecnología
Algoritmos propietarios	7 Algoritmos únicos de coincidencia y recomendación

Porch Group, Inc. (PRCH) - Modelo de negocio: propuestas de valor

Mercado integral de servicios para el hogar

El mercado del grupo de Porch Group conecta a los propietarios con más de 40,000 profesionales de servicios en más de 4,500 categorías de servicio doméstico a partir del tercer trimestre de 2023. La plataforma facilita aproximadamente 500,000 transacciones de servicio anualmente.

Categoría de servicio	Número de profesionales	Transacciones anuales
Reparación del hogar	12,500	185,000
Mantenimiento del hogar	9,800	145,000
Mejoramiento del hogar	8,700	120,000

Conexiones simplificadas de mantenimiento y reparación del hogar

La plataforma proporciona una generación de cotización instantánea con una tasa de respuesta del proveedor de servicios del 92% dentro de las 24 horas. El tiempo de respuesta promedio es de 3.2 horas para las solicitudes de servicio.

• Tiempo de finalización de cotización promedio: 4.7 horas
• Tasa de verificación del proveedor de servicios: 98%
• Calificación de satisfacción del cliente: 4.3/5

Calificaciones de calidad y calidad de servicio transparentes

La plataforma del grupo de porch presenta modelos de precios transparentes con Comparaciones de costos en tiempo real. La variación promedio de precios entre los proveedores de servicios es del 15-20%.

Tipo de servicio	Rango de precios promedio	Puntaje de transparencia de precio
Plomería	$180 - $450	4.5/5
Trabajo eléctrico	$250 - $600	4.3/5
Reparación de HVAC	$300 - $800	4.6/5

Experiencia de compra de viviendas y propiedad de la casa.

Porch Group integra los servicios domésticos con transacciones inmobiliarias, que cubre el 12% de las compras de viviendas de EE. UU. En 2023. La plataforma gestiona aproximadamente $ 3.2 mil millones en transacciones relacionadas con el hogar anualmente.

Plataforma digital única para propietarios y proveedores de servicios

Digital Platform atiende a 2.1 millones de usuarios activos mensualmente, con una tasa de compromiso repetido del 65%. Los profesionales de servicio total registrado aumentaron en un 22% en 2023.

• Usuarios activos mensuales: 2,100,000
• Crecimiento de la red de proveedores de servicios: 22%
• Volumen de transacción digital: $ 3.2 mil millones

Porch Group, Inc. (PRCH) - Modelo de negocios: relaciones con los clientes

Plataforma de autoservicio digital

La plataforma digital de Porch Group atiende a 14.3 millones de propietarios a partir del tercer trimestre de 2023. La plataforma procesó 2.4 millones de solicitudes de servicio en 2023 con un 97.2% Tasa de participación digital.

Métrica de plataforma	2023 datos
Usuarios totales de propietarios de viviendas	14.3 millones
Solicitudes de servicio procesadas	2.4 millones
Tasa de compromiso digital	97.2%

Algoritmos de correspondencia automatizados

La tecnología de emparejamiento de Porch Group conecta 382,000 profesionales de servicios en 11,500 ciudades con propietarios de viviendas.

• 382,000 profesionales de servicios verificados en la red
• Cobertura en 11,500 ciudades
• Tiempo promedio de finalización del partido: 24 horas

Atención al cliente y verificación de servicios

La compañía mantiene un 99.1% Tasa de verificación de antecedentes profesionales de servicio con 3.2 millones de verificaciones de antecedentes completadas en 2023.

Verificación métrica	2023 rendimiento
Finalización de verificación de antecedentes	3.2 millones
Tasa de verificación	99.1%

Sistemas de revisión y calificación

La plataforma de Porch Group generó 1,6 millones de revisiones de clientes en 2023, con una calificación profesional de servicio promedio de 4.7 de 5.

Recomendaciones de servicio personalizadas

El motor de recomendación procesó 8.9 millones de sugerencias de servicio personalizadas en 2023, con un Tasa de conversión de 26.4%.

Métrica de recomendación	2023 datos
Recomendaciones personalizadas	8.9 millones
Tasa de conversión de recomendación	26.4%

Porch Group, Inc. (PRCH) - Modelo de negocio: canales

Plataforma basada en la web

Porch.com sirve como la plataforma principal basada en la web con 3.8 millones de profesionales de servicios para el hogar registrados a partir del tercer trimestre de 2023. La plataforma genera 2.1 millones de visitantes únicos mensuales.

Métrica de plataforma	Valor
Profesionales registrados	3.8 millones
Visitantes únicos mensuales	2.1 millones

Aplicación móvil

Porch Group opera aplicaciones móviles disponibles en plataformas iOS y Android, admitiendo Conexiones profesionales de servicio en tiempo real.

• Calificación de iOS App Store: 4.7/5
• Android Google Play Rating: 4.5/5
• Descargas totales de aplicaciones móviles: 750,000 a partir del cuarto trimestre 2023

Equipo de ventas directas

Porch Group mantiene un equipo de ventas directo centrada en segmentos empresariales y pequeños empresas con 185 representantes de ventas dedicados a diciembre de 2023.

Métrica del equipo de ventas	Valor
Representantes de ventas totales	185
Ciclo de ventas promedio	47 días

Marketing en línea

Los gastos de marketing digital alcanzaron los $ 12.4 millones en 2023, dirigidos a segmentos del mercado de servicios para el hogar.

• Gasto en los anuncios de Google: $ 5.2 millones
• Marketing en redes sociales: $ 3.7 millones
• Publicidad programática: $ 3.5 millones

Redes de referencia

Porch Group aprovecha amplias redes de referencia con 127 asociaciones estratégicas a partir del cuarto trimestre de 2023.

Métrica de red de referencia	Valor
Asociaciones estratégicas totales	127
Comisión de referencia promedio	8.5%

Porch Group, Inc. (PRCH) - Modelo de negocio: segmentos de clientes

Propietarios

A partir del cuarto trimestre de 2023, Porch Group atiende a aproximadamente 32.5 millones de propietarios a través de su plataforma digital. Desglose demográfico clave:

Grupo de edad	Porcentaje
25-44 años	42%
45-64 años	38%
Más de 65 años	20%

Compradores de viviendas

Porch Group se dirige a 2.04 millones de compradores anuales de viviendas con servicios especializados. Detalles del segmento de mercado:

• Compradores de vivienda por primera vez: 1.2 millones
• Repita los compradores de la casa: 840,000
• Precio promedio de compra de la casa: $ 428,700

Profesionales de bienes raíces

La red incluye 237,500 profesionales de bienes raíces con licencia a diciembre de 2023.

Categoría profesional	Número
Agentes inmobiliarios	198,300
Corredores	39,200

Administradores de propiedades

Atiende a 185,000 profesionales de administración de propiedades con soluciones digitales.

• Gerentes de alquiler unifamiliares: 94,000
• Administradores de propiedades multifamiliares: 61,000
• Administradores de propiedades comerciales: 30,000

Contratistas de servicio en el hogar

Se conecta con 612,000 profesionales de servicio domiciliario en 47 estados.

Categoría de servicio	Número de contratistas
Reparación del hogar	238,000
HVAC	127,500
Plomería	98,700
Eléctrico	83,800
Paisajismo	64,000

Porch Group, Inc. (PRCH) - Modelo de negocio: Estructura de costos

Desarrollo y mantenimiento de la tecnología

Para el año fiscal 2023, Porch Group informó gastos de investigación y desarrollo de $ 71.7 millones.

Categoría de costos	Cantidad (2023)
Salarios de ingeniería de software	$ 42.3 millones
Infraestructura en la nube	$ 15.2 millones
Herramientas y licencias tecnológicas	$ 14.2 millones

Gastos de ventas y marketing

Los gastos de ventas y marketing para Porch Group en 2023 totalizaron $ 92.4 millones.

• Gasto publicitario digital: $ 35.6 millones
• Compensación del equipo de ventas: $ 38.9 millones
• Plataformas de tecnología de marketing: $ 17.9 millones

Costos de adquisición de clientes

El costo de adquisición de clientes (CAC) para Porch Group en 2023 fue de aproximadamente $ 187 por cliente.

Canal de adquisición	Costo por cliente
Marketing digital	$142
Ventas directas	$245
Programas de referencia	$89

Infraestructura de plataforma

Los costos de infraestructura de la plataforma para Porch Group en 2023 fueron de $ 23.5 millones.

• Servicios de alojamiento en la nube: $ 12.6 millones
• Seguridad de la red: $ 5.9 millones
• Mantenimiento del centro de datos: $ 5.0 millones

Gestión de redes profesionales

Los gastos de gestión de redes profesionales en 2023 ascendieron a $ 18.3 millones.

Costo de gestión de redes	Cantidad
Reclutamiento de redes	$ 8.7 millones
Verificación de red	$ 5.2 millones
Soporte de red	$ 4.4 millones

Porch Group, Inc. (PRCH) - Modelo de negocios: flujos de ingresos

Tarifas de transacción del mercado de servicios

Para el año fiscal 2023, Porch Group reportó $ 246.1 millones en ingresos totales de las transacciones del mercado de servicios.

Tipo de transacción	Ingresos generados	Porcentaje de ingresos totales
Mercado de servicios para el hogar	$ 146.7 millones	59.6%
Servicios de mudanza	$ 99.4 millones	40.4%

Servicios de suscripción de software

Porch Group generó $ 76.2 millones en ingresos por suscripción de software para el año 2023.

• Suscripciones de software de bienes raíces: $ 42.3 millones
• Suscripciones de software de administración de propiedades: $ 33.9 millones

Licencia de datos

Los ingresos por licencias de datos para 2023 totalizaron $ 18.5 millones.

Categoría de licencias de datos	Ganancia
Datos inmobiliarios	$ 12.7 millones
Datos de servicios para el hogar	$ 5.8 millones

Ofertas de servicio premium

Los ingresos por servicio premium alcanzaron $ 35.6 millones en 2023.

• Servicios mejorados de inspección en el hogar: $ 15.2 millones
• Coordinación de mudanza avanzada: $ 11.4 millones
• Productos de seguro premium: $ 9.0 millones

Comisión de proveedores de servicios

Las comisiones de proveedores de servicios ascendieron a $ 54.3 millones en 2023.

Categoría de proveedor de servicios	Ingresos por comisión	Tasa de comisión promedio
Contratistas de reparación del hogar	$ 29.6 millones	12.5%
Empresas de mudanza	$ 24.7 millones	10.3%

Porch Group, Inc. (PRCH) - Canvas Business Model: Value Propositions

You're looking at how Porch Group, Inc. creates value across its different customer groups as of late 2025. The entire model is now centered on a simpler, predictable, commission and fee-based structure, which is the core driver for shareholder value.

For Homebuyers: Simplifying the home-moving and ownership journey with bundled services.

Porch Group, Inc. helps consumers by bundling necessary services around the home transaction. This is evident in the Consumer Services segment performance, which is part of the overall value delivered to the end-user.

• Monetized services in Q3 2025 reached 94,000 units.
• Annualized revenue generated per monetized service was $206 in Q3 2025.

For Home Service Pros: Vertical software tools to manage operations and customer flow.

The Software & Data segment provides the tools that keep the flywheel turning for service professionals and partners. This technology underpins the efficiency across the ecosystem.

Here's the quick math on the Software & Data segment's Q3 2025 contribution to Porch Shareholder Interest revenue:

Metric	Value ($ millions)
Revenue	24.6
Gross Profit	18.2
Adjusted EBITDA	5.1

For Insurers: Unique data for advantaged underwriting and risk segmentation.

The value proposition to insurers is built on proprietary intelligence, which translates directly into better risk selection and lower loss costs. The Home Factors property intelligence platform is key here.

• The platform covers approximately 90% of U.S. homes.
• Porch Group, Inc. offers over 100 property attributes as of the end of 2025.
• As of September 2025, the company provided insights into over 88% of carriers' policy data.
• This data identifies areas with about a 23% to 50% higher chance of loss ratio.
• The Year-to-Date (YTD) gross loss ratio for the Reciprocal in 2025 was 31%.

For Shareholders: High-margin, predictable fee-based revenue (82% gross margin).

The shift to the reciprocal model has delivered the promised high-margin, predictable revenue stream that investors value. The Insurance Services segment, which is the primary fee/commission earner, is the engine for this margin expansion. For instance, the Insurance Services segment gross margin was 84% in Q3 2025.

The overall profitability for Porch Shareholder Interest in Q3 2025 clearly demonstrates this structural improvement:

Financial Metric (Porch Shareholder Interest)	Q3 2025 Amount ($ millions)	Q3 2025 Margin
Revenue	115.1	n/a
Gross Profit	94.2	82%
Adjusted EBITDA	20.6	18%

The company is tracking towards a full-year 2025 Adjusted EBITDA of $70 million, which is a 10x increase versus the prior year.

Reduced catastrophic weather risk for Porch shareholders.

A major component of the value proposition to shareholders is the structural reduction in exposure to large, unpredictable weather events, thanks to the Porch Reciprocal Exchange structure formed in January 2025. The company has actively managed this risk down.

• The retention level for weather events was lowered to $23 million per event as of Q2 2025.
• The Reciprocal surplus, which provides a strong foundation for premium scaling, stood at $412.0 million at the end of Q3 2025.

Finance: review Q4 2025 reinsurance retention strategy by end of January 2026.

Porch Group, Inc. (PRCH) - Canvas Business Model: Customer Relationships

You're looking at how Porch Group, Inc. manages the connections across its diverse customer base, which spans individual homeowners, home service professionals, and insurance agencies. The strategy here is clearly segmented, moving from fully automated for the consumer side to highly managed for the enterprise partners.

Automated digital onboarding and self-service for consumer services.

For the consumer side, which includes services like utility setup, moving coordination, and initial insurance quoting, the relationship is designed to be as hands-off as possible for Porch Group, Inc. The goal is to use the platform to facilitate transactions, like booking a mover or setting up a new internet connection, with minimal human intervention post-initial engagement. While specific digital onboarding completion rates for the consumer services are not public, the entire structure of the Porch.com platform is built around this self-service flow across the homeownership journey, from pre-move to maintenance.

Dedicated sales and support teams for B2B software clients.

The B2B relationship is managed differently, focusing on the software and data solutions provided to home service businesses. Porch Group, Inc. provides essential software and services to over 30,000 home service businesses, including inspectors, contractors, and title companies. These clients require a more structured engagement model to ensure adoption and utilization of the vertical software. The Software & Data segment revenue was $24.6 million in the third quarter of 2025. This revenue stream relies on maintaining and growing this base, which necessitates dedicated teams for sales and ongoing technical support to drive product innovation and corresponding price increases, which contributed to a 7% revenue increase in that segment year-over-year for Q2 2025.

High-touch relationship management with key insurance agency partners.

The relationship with insurance agencies is critical, especially following the January 2025 shift to the fee-based insurance services model through the Porch Insurance Reciprocal Exchange (PIRE). This is a high-touch channel for scaling insurance premiums. Porch Group, Inc. is rapidly growing its relationships with third-party insurance agencies to distribute its offerings. For instance, a partnership with Roamly is officially appointed in 19 states. The focus here is on providing value to agencies through leads and superior products to secure appointments and quote volumes. Reciprocal Written Premium (RWP) in Q3 2025 was $138 million, up 14% versus the prior quarter, showing the impact of these partner relationships.

• The Insurance Services segment generated revenue of $73.8 million in Q3 2025.
• The segment's gross profit reached $62.3 million in Q3 2025.
• The company is accelerating agent appointments to support premium scaling.

Data-driven, personalized insurance pricing and product offerings.

Personalization is driven by proprietary data assets, primarily the Home Factors property intelligence platform. This data is used to offer fairer prices to consumers and lower underwriting costs for carriers. Porch Group Media has Home Factors for approximately 90 percent of US homes. The insights are powerful; for example, identifying that an electric panel needs repair indicates 41 percent higher claims frequency. Testing with carriers showed Home Factors generated an ROI greater than 20x across each carrier. As of Q3 2025, there were 89 property Home Factors available, with a goal to approach 100 by year-end 2025. This data-driven approach is key to the advantaged underwriting strategy.

Here's a quick look at the quantitative relationship metrics as of late 2025:

Relationship Metric Category	Key Data Point	Value/Amount
B2B Software Clients	Home Service Businesses Served	Over 30,000
Insurance Agency Distribution	States Roamly Partnership Live In	19
Data/Pricing Intelligence Coverage	US Homes Covered by Home Factors	Approximately 90 percent
Data Impact on Risk	Claims Frequency Increase for Specific Panel Repair	41 percent
Insurance Partner Value	Demonstrated ROI for Carriers Using Home Factors	Greater than 20x

Finance: draft 13-week cash view by Friday.

Porch Group, Inc. (PRCH) - Canvas Business Model: Channels

You're looking at how Porch Group, Inc. gets its services and software into the hands of customers and partners as of their latest reported figures in late 2025. The channels are quite distinct across their three main operating areas.

B2B Software: Direct sales to home inspectors and service professionals

The Software & Data segment channels involve direct engagement with other companies, like title insurers and home service providers, often through proprietary tools like Rynoh. This channel focuses on recurring, fee-based revenue streams from these professional users.

Here's a look at the scale of this channel based on Q3 2025 results for Porch Shareholder Interest:

Metric	Value (Q3 2025)
Software & Data Revenue	$24.6 million
Companies Served	23,800
Annualized Average Revenue Per Company	$4,140
Segment Adjusted EBITDA Margin	21%

Insurance Services: Independent insurance agencies and the Reciprocal Exchange

The primary channel here is distribution through independent insurance agencies, which drive Reciprocal Written Premium (RWP), and the management of the Porch Reciprocal Exchange itself. Porch Group earns commissions and fees as the manager for the Reciprocal.

The financial footprint of this channel in Q3 2025 was significant:

Metric	Value (Q3 2025)
Insurance Services Revenue	$73.8 million
Insurance Services Gross Profit Margin	84%
Insurance Services Adjusted EBITDA	$25.3 million
Reciprocal Surplus plus Non-Admitted Assets (End of Q3 2025)	$412.0 million

The Reciprocal Exchange itself saw its surplus increase by $112.8 million quarter-over-quarter as of Q3 2025.

Consumer Services: Digital platform (Porch.com) and direct integration with B2B partners

This channel uses the Porch.com digital platform to connect consumers with services, often bundled with insurance policies. The services include moving assistance and home warranties.

The activity levels for this segment in Q3 2025 were:

• Consumer Services Revenue: $19.4 million.
• Monetized Services Handled: 93,900.
• Average Revenue Per Service: Approximately $206 on an annualized basis.
• Segment Adjusted EBITDA Margin: 13%.

Data Monetization: Licensing Home Factors data to third-party carriers

The Home Factors property intelligence platform is a key data channel, licensed to carriers to enhance underwriting. This is a direct B2B data licensing play.

The reach and impact of this data channel as of late 2025 include:

• Home Factors coverage across approximately 90% of U.S. homes.
• The platform offers over 100 property attributes.
• The data provided insights to over 88% of carriers' policy data.
• Demonstrated projected Return on Investment (ROI) greater than 20x across multiple insurance carriers.

Finance: draft 13-week cash view by Friday.

Porch Group, Inc. (PRCH) - Canvas Business Model: Customer Segments

You're looking at the different groups Porch Group, Inc. (PRCH) serves, which is key to understanding their revenue engine, especially after the big insurance pivot in January 2025.

Home Service Businesses (B2B): Porch Group, Inc. provides software and services to a broad base of home service providers. This segment includes:

• Home inspectors, using platforms like ISN and Palmtech.
• Moving companies utilizing the HireAHelper platform.
• Contractors seeking jobs and business improvement tools.
• Firms in the Real Estate, Warranty, Title & Closing, and Mortgage industries.

Porch Group, Inc. serves over 30,000 home service businesses with its software and services.

Homeowners/Homebuyers (B2C): This segment consists of consumers actively managing their homes or in the process of moving. While in 2023, the digital platform supported 14.3 million homeowners and facilitated 2.4 million service requests, the focus has sharpened around the insurance lifecycle. For instance, in Q1 2025, the company wrote 36,000 new insurance policies, with expectations to surpass 50,000 in Q2 2025.

The customer segments served by Porch Group, Inc. can be summarized by their engagement type and recent activity metrics:

Customer Segment	Key Activity/Metric	Latest Reported Figure
Home Service Businesses (B2B)	Total Companies Served	Over 30,000
Homeowners/Homebuyers (B2C)	Service Requests Facilitated (2023)	2.4 million
The Porch Insurance Reciprocal Exchange (PIRE) Policyholders	Reciprocal Policies Written (Q2 2025)	42.5 thousand
PIRE Policyholders	Reciprocal Written Premium (Q2 2025)	$121 million

Third-Party Insurance Carriers: These carriers are customers for Porch Group, Inc.'s data and software solutions, primarily the Home Factors property intelligence platform. The value proposition here is risk mitigation and underwriting accuracy. The platform provided insights to over 88% of these carriers' policy data. The analysis demonstrated a projected Return on Investment (ROI) greater than 20x across multiple carriers.

The Porch Insurance Reciprocal Exchange (PIRE) Policyholders: These are the direct insurance customers under the member-owned exchange formed in January 2025. The financial health of this segment directly impacts Porch Group, Inc. through fee and commission revenue.

Key metrics related to the PIRE segment as of Q2 2025 include:

• Reciprocal Written Premium (RWP) for the quarter: $121 million.
• Reciprocal Policies Written for the quarter: 42.5 thousand.
• Reciprocal Written Premium per Policy Written: $2,843.
• Reciprocal Exchange Surplus at end of Q2 2025: $299 million.

The surplus growth for PIRE was $102 million from the prior quarter. Finance: draft 13-week cash view by Friday.

Porch Group, Inc. (PRCH) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Porch Group, Inc. (PRCH) operation as of late 2025. This structure shows where the money is going to support their platform and insurance services.

General and administrative (G&A) costs, which cover corporate overhead, were reported at $12.3 million for the third quarter of 2025. That figure was $700,000 lower than the prior year, showing a continued focus on efficiency in corporate expenses.

Interest expense is a fixed cost tied to outstanding debt obligations. As of September 30, 2025, the outstanding principal for the 0.75% Convertible Senior Unsecured Notes due 2026 had been reduced to $7.8 million. This is the result of significant repurchases throughout 2025, including a major transaction in May that retired all but approximately $29 million of the original debt.

The cost of personnel is heavily weighted toward the Insurance Services segment, which is the primary driver of profitability. While a specific personnel cost number isn't broken out, the segment's strong gross margin of 84% and Adjusted EBITDA of $25.3 million in Q3 2025 suggest significant investment in the team supporting underwriting, claims, and agency relationships.

Technology and product development costs are embedded within the Software & Data segment and R&D efforts across the platform. Management noted continued focus on product innovation, including the expansion of the Home Factors property intelligence platform, which now covers 89 total home factors in the market. The Software & Data segment generated $24.6 million in revenue in Q3 2025, contributing $5.1 million in Adjusted EBITDA.

Sales and marketing expenses are necessary to acquire B2B partners, such as agents, and generate consumer leads for the insurance business. The Insurance Services segment saw reciprocal written premium (RWP) reach $138 million in Q3 2025, up 14% versus the prior quarter, indicating ongoing sales activity. The Consumer Services segment, which relies on partnerships, posted $19.4 million in revenue for the quarter.

Here's a look at the Q3 2025 Porch Shareholder Interest financial performance, which helps illustrate where the revenue is generated relative to the operating costs that drive the overall structure:

Segment	Revenue (Millions USD)	Gross Profit (Millions USD)	Adjusted EBITDA (Millions USD)
Insurance Services	$73.845	$62.250	$25.300
Software & Data	$24.635	$18.200	$5.100
Consumer Services	$19.370	$16.600	$2.500
Total Segment Contribution	$117.850	$97.050	$32.900

The total reported revenue for Porch Shareholder Interest in Q3 2025 was $115.1 million, with a consolidated Adjusted EBITDA of $20.6 million. The difference between the sum of segment Adjusted EBITDA ($32.9 million) and the total reported Adjusted EBITDA ($20.6 million) reflects corporate expenses and intersegment eliminations, which are a direct cost component.

The company is definitely managing its cost base by prioritizing high-margin insurance activities. The RWP-to-Insurance Services Adjusted EBITDA conversion rate improved to 18% in Q3 2025. This operational leverage is key to offsetting fixed costs like G&A and interest.

Porch Group, Inc. (PRCH) - Canvas Business Model: Revenue Streams

You're looking at how Porch Group, Inc. (PRCH) actually brings in the cash, which is key for valuing the business right now. Honestly, the model is clearly leaning heavily on insurance services, but the recurring software revenue is the sticky part we need to watch closely.

Here's a quick look at the revenue breakdown based on the third quarter of 2025 figures. This gives you a solid snapshot of where the money was flowing as we head into the end of the year.

Revenue Stream Category	Q3 2025 Amount (Millions USD)	Primary Driver
Insurance Services Fees	$73.8	Management Fees, Policy Fees, Commissions (PIRE)
Software and Data Subscriptions	$24.6	Recurring B2B Software Fees
Consumer Services Revenue	$19.4	Home Warranty and Moving Services

The largest piece of the pie comes from Insurance Services Fees. This stream, generated through its Protected Insurance Regulatory Entity (PIRE), pulled in $73.8 million in Q3 2025. This isn't just one thing; it's a mix of revenue sources tied to their insurance operations. If onboarding takes 14+ days, churn risk rises, which impacts these fee streams.

Within that insurance segment, the revenue is derived from several distinct activities. You should track these components to understand the quality of the insurance revenue:

• Management fees
• Policy fees
• Commissions from PIRE

Next up is the recurring revenue from Software and Data Subscriptions, which hit $24.6 million in Q3 2025. This is the B2B software client revenue. It's important because recurring fees usually carry a higher valuation multiple than transactional revenue, so this segment is defintely a key driver for long-term value.

Consumer Services Revenue provided another $19.4 million in the third quarter. This is more transactional, coming from services like home warranties and moving services that homeowners use around closing. It's good volume, but less sticky than the subscription side.

Don't forget the passive income stream: Interest Income. This is coupon payment received on the $106 million in surplus notes held within PIRE. While smaller than the operating segments, it's a direct return on capital held in the regulated insurance entity.

Looking ahead, the overall profitability target for the full year 2025 is set with an Adjusted EBITDA projection of $70 million. That number shows you the expected operating performance across all these revenue streams combined.

Finance: draft 13-week cash view by Friday.