Porch Group, a homeowners insurance and vertical software platform, reveals that its first quarter 2026 financial results have exceeded expectations, reporting shareholder interest revenue of $109.4 million, a 29% increase compared to the same period last year.
This growth was primarily driven by the Insurance Services segment, which saw its revenue climb 50% year-over-year to $74.7 million.
The Group also reported a gross profit of $91.2 million for the quarter, resulting in a gross margin of 83%. Adjusted EBITDA reached $19.7 million, equivalent to an 18% margin.
Despite the operational gains, Porch reported a net loss attributable to shareholders of $4.7 million. This loss was attributed to a higher share of earnings being allocated to the non-controlling Reciprocal and increased interest expenses related to convertible note.
Within their Insurance Services, the Reciprocal – owned by its policyholder-members and not by Porch – saw written premiums increase 18% in Q1 2026, to $114.5 million, with policies written reaching 48 thousand, a 44% increase compared to the same period last year.
Capacity continued to build, with statutory surplus at the Reciprocal ending in Q1 2026 at $164.6 million, up 59% from Q1 2025.
Surplus combined with non-admitted assets ended at $268.8 million, supporting Porch’s ability to scale premiums long into the future while maintaining a healthy Reciprocal, the firm noted.
Matt Ehrlichman, Chief Executive Officer, Chairman and Founder, commented: “Porch’s playbook is working. We built the foundation in 2025 as we transitioned to a simpler, higher margin, fee‑ and commission‑based model. Q1 2026 is the first quarter in recent history with a tangible year-over-year comparison and the momentum we have is now clear.
“Rapid premium growth is producing strong revenue growth, with Porch Shareholder Interest up 29% year over year and our Insurance Services segment up 50%. The underlying drivers of premium growth are performing ahead of plan and translating to strong new customer additions. As such, we’re raising our outlook and remain confident in our 2026 premium-scaling targets.”
