Porch Group, Inc. Financial Statements — PRCH Stock

Income Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	78	72	192	276	430
+ Sales & Services Revenue	78	72	192	276	430
- Cost of Revenue	22	18	59	108	220
+ Cost of Goods & Services	22	18	59	108	220
Gross Profit	56	55	134	168	210
+ Other Operating Income	- -	- -	- -	- -	- -
- Operating Expenses	139	98	217	284	343
+ Selling, General & Admin	108	70	169	224	247
+ Research & Development	31	29	47	60	59
+ Other Operating Expense	- -	- -	1	1	37
Operating Income (Loss)	-83	-44	-83	-116	-133
- Non-Operating (Income) Loss	20	12	34	40	- -
+ Interest Expense, Net	7	15	6	8	28
+ Interest Expense	7	15	6	9	32
- Interest Income	- -	- -	- -	1	4
+ Other Non-Op (Income) Loss	13	-3	28	32	-28
Pretax Income	-103	-56	-117	-156	-133
- Income Tax Expense (Benefit)	- -	-2	-10	1	1
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-103	-54	-107	-157	-134
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-103	-54	-107	-157	-134
- Minority Interest	- -	- -	- -	- -	- -
Net Income, GAAP	-103	-54	-107	-157	-134
- Preferred Dividends	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-103	-54	-107	-157	-134
Basic Weighted Avg Shares	81	36	94	97	96
Basic EPS, GAAP	-1.27	-1.49	-1.14	-1.61	-1.39
Basic EPS from Cont Ops	-1.27	-1.49	-1.14	-1.61	-1.39
Diluted Weighted Avg Shares	81	36	94	97	96
Diluted EPS, GAAP	-1.27	-1.49	-1.14	-1.61	-1.39
Diluted EPS from Cont Ops	-1.27	-1.49	-1.14	-1.61	-1.39
EBITDA	-76	-37	-67	-88	-109
EBITDA Margin (%)	-97.62	-51.22	-34.81	-31.79	-25.26
EBITA	-83	-44	-83	-116	-133
EBIT	-83	-44	-83	-116	-133
Gross Margin (%)	72.29	75.71	69.48	61.02	48.82
Operating Margin (%)	-107.13	-60.41	-43.32	-41.91	-30.94
Profit Margin (%)	-133.15	-74.73	-55.4	-56.73	-31.13
Sales per Employee	- -	- -	- -	- -	- -
Dividend per Share	- -	0.83	- -	- -	- -
Depreciation Expense	7	7	16	28	24

Balance Sheet	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	10	216	605	611	481
+ Cash, Cash Equivalents & STI	4	196	325	252	294
+ Cash & Cash Equivalents	4	196	316	215	258
+ ST Investments	- -	- -	9	37	36
+ Accounts & Notes Receiv	5	4	257	325	108
+ Accounts Receivable, Net	5	4	29	26	24
+ Notes Receivable, Net	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	228	299	84
+ Inventories	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -
+ Other ST Assets	1	15	23	34	79
+ Misc ST Assets	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -
Total Noncurrent Assets	38	53	434	438	418
+ Property, Plant & Equip, Net	7	5	11	12	17
+ Property, Plant & Equip	14	14	29	29	36
- Accumulated Depreciation	7	9	18	17	19
+ LT Investments & Receivables	- -	- -	58	55	104
+ LT Investments	- -	- -	58	55	104
+ LT Receivables	- -	- -	- -	- -	- -
+ Other LT Assets	32	48	364	371	298
+ Total Intangible Assets	28	44	355	353	279
+ Goodwill	18	28	226	245	192
+ Other Intangible Assets	10	16	130	108	87
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ Misc LT Assets	4	4	9	18	19
Total Assets	48	268	1,039	1,049	899
+ Payables & Accruals	22	19	45	97	84
+ Accounts Payable	5	9	7	6	9
+ Accrued Taxes	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -
+ Other Payables & Accruals	17	10	38	91	75
+ ST Debt	20	5	- -	16	- -
+ ST Borrowings	20	5	- -	16	- -
+ ST Finance Leases	- -	- -	- -	- -	- -
+ Other ST Liabilities	15	8	318	402	378
+ Deferred Revenue	3	5	201	271	249
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Misc ST Liabilities	12	3	117	131	129
Total Current Liabilities	57	32	363	516	462
+ LT Debt	41	43	417	425	435
+ LT Borrowings	41	43	415	425	435
+ LT Finance Leases	- -	- -	3	3	- -
+ Other LT Liabilities	10	86	41	29	37
+ Accrued Liabilities	3	1	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Misc LT Liabilities	7	86	41	29	37
Total Noncurrent Liabilities	51	129	459	454	473
Total Liabilities	108	161	822	970	935
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -
+ Share Capital & APIC	203	425	641	671	690
+ Common Stock	- -	- -	- -	- -	- -
+ Additional Paid in Capital	203	425	641	671	690
- Treasury Stock	- -	- -	- -	- -	- -
+ Retained Earnings	-263	-318	-424	-585	-722
+ Other Equity	- -	- -	- -	-6	-4
Equity Before Minority Interest	-60	107	217	79	-36
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -
Total Equity	-60	107	217	79	-36
Total Liabilities & Equity	48	268	1,039	1,049	899
Shares Outstanding	81	82	98	98	97
Capital Leases - Total	- -	- -	3	3	- -
Net Debt	57	-148	99	227	177
Net Debt to Equity	-94.93	-137.96	45.61	285.69	-496.93
Tangible Common Equity Ratio	-432.6	28.14	-20.26	-39.3	-50.75
Current Ratio	0.18	6.8	1.67	1.18	1.04
Cash Conversion Cycle	- -	-122.92	-18.92	14.06	9.06
Number of Employees	- -	- -	- -	- -	- -

Cash Flow Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-103	-54	-107	-157	-134
+ Depreciation & Amortization	7	7	16	28	24
+ Non-Cash Items	53	15	71	74	55
+ Stock-Based Compensation	36	11	39	27	21
+ Deferred Income Taxes	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	61	57
+ Other Non-Cash Adj	17	4	33	-14	-23
+ Chg in Non-Cash Work Cap	13	-16	-16	37	89
+ (Inc) Dec in Accts Receiv	-2	-3	-22	-80	162
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	1	-3	-5	-5	- -
+ Inc (Dec) in Accts Payable	10	-12	-28	-7	1
+ Inc (Dec) in Other	4	1	40	130	-74
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Operating Activities	-29	-49	-35	-18	34
+ Change in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-5	-3	-1	-2	-1
+ Acq of Fixed Prod Assets	- -	- -	-1	-2	-1
+ Acq of Intangible Assets	-4	-3	- -	- -	- -
+ Net Change in LT Investment	- -	- -	-2	-31	-44
+ Dec in LT Investment	- -	- -	22	22	47
+ Inc in LT Investment	- -	- -	-24	-53	-91
+ Net Cash From Acq & Div	-1	-8	-256	-39	-2
+ Cash from Divestitures	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-1	-8	-256	-39	-2
+ Cash for JVs	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	-4	-8	-9
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Investing Activities	-5	-11	-263	-80	-56
+ Dividends Paid	- -	-30	- -	- -	- -
+ Net Cash From Debt	31	-15	367	10	107
+ Cash From Debt	31	66	414	15	117
+ Repayments of Debt	- -	-82	-47	-5	-10
+ Cash (Repurchase) of Equity	- -	- -	- -	-2	-6
+ Increase in Capital Stock	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	-2	-6
+ Other Financing Activities	3	305	49	-7	-10
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Financing Activities	34	260	416	1	91
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -
Net Changes in Cash	- -	200	117	-96	69
Capital Expenditures	-5	-3	-1	-2	-1
EBITDA	-76	-37	-67	-88	-109
EBITDA Margin (%)	-97.62	-51.22	-34.81	-31.79	-25.26
Net Cash Paid for Acquisitions	1	8	256	39	2
Free Cash Flow	-34	-52	-36	-20	33
Free Cash Flow to Firm	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	-64	331	-10	140
Free Cash Flow per Basic Share	-0.42	-1.42	-0.38	-0.21	0.34
Price/Free Cash Flow	- -	-11.33	-43.3	-11.9	8.51
Cash Flow to Net Income	0.28	0.9	0.33	0.11	-0.25

Porch Group, Inc.

Income Statement

Balance Sheet

Cash Flow Statement