|
Total revenue
|
|
$77.6m
|
$73.2m
|
$192.4m
|
$275.9m
|
$430.3m
|
$437.8m
|
$482.4m
|
|
Cost of revenue
|
|
$21.5m
|
$17.6m
|
$58.7m
|
$107.6m
|
$220.2m
|
$225.6m
|
$142.4m
|
|
Gross profit (derived)
|
|
$56.1m
|
$55.7m
|
$133.7m
|
$168.4m
|
$200.9m
|
$201.9m
|
$340.0m
|
|
Operating income (loss)
|
|
($88.1m)
|
($41.4m)
|
($83.4m)
|
($177.0m)
|
($190.4m)
|
($64.6m)
|
$36.6m
|
|
Comprehensive Income
|
|
|
|
|
|
|
|
|
|
Selling and marketing
|
|
$56.2m
|
$41.8m
|
$84.3m
|
$113.8m
|
$144.3m
|
$122.9m
|
$139.6m
|
|
Product and technology
|
|
$31.0m
|
$28.3m
|
$47.0m
|
$59.6m
|
$58.5m
|
$55.3m
|
$53.3m
|
|
General and administrative
|
|
$78k
|
$28.4m
|
$85.8m
|
$110.6m
|
$103.2m
|
$98.4m
|
$105.2m
|
|
Provision for doubtful accounts
|
|
—
|
—
|
$1.1m
|
$805k
|
$37.2m
|
$239k
|
$5.3m
|
|
Impairment loss on intangible assets and goodwill
|
|
—
|
—
|
$0
|
$61.4m
|
$57.2m
|
$0
|
$0
|
|
Change in fair value of earnout liability
|
|
—
|
—
|
($18.5m)
|
$13.8m
|
$44k
|
$0
|
$0
|
|
Change in fair value of private warrant liability
|
|
—
|
$2.4m
|
($15.4m)
|
$14.5m
|
($444k)
|
$691k
|
($4.0m)
|
|
Change in fair value of derivatives
|
|
—
|
—
|
$0
|
$0
|
($4.3m)
|
$5.9m
|
$19.6m
|
|
Gain on extinguishment of debt
|
|
($483k)
|
$5.7m
|
$5.1m
|
$0
|
$81.4m
|
$27.4m
|
$395k
|
|
Other income, net
|
|
($8.0m)
|
$2.8m
|
$340k
|
$571k
|
$3.9m
|
$28.7m
|
$14.0m
|
|
Income (loss) before income taxes
|
|
$65k
|
($53.3m)
|
($116.9m)
|
($155.7m)
|
($133.3m)
|
($30.7m)
|
$26.7m
|
|
Net loss attributable to Porch
|
|
$32k
|
($51.6m)
|
$106.6m
|
($156.6m)
|
($133.9m)
|
($32.8m)
|
($3.4m)
|
|
Change in net unrealized loss, net of tax
|
|
—
|
—
|
($259k)
|
($5.9m)
|
$2.3m
|
($1.6m)
|
$6.3m
|
|
Less: Comprehensive income attributable to the Reciprocal
|
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$24.4m
|
|
Comprehensive loss attributable to Porch
|
|
—
|
—
|
($106.9m)
|
($162.5m)
|
($131.6m)
|
($34.4m)
|
($2.8m)
|
|
Net income (loss)
|
|
—
|
—
|
—
|
—
|
($133.9m)
|
($32.8m)
|
$15.3m
|
|
Less: Net income attributable to the Reciprocal
|
|
—
|
—
|
—
|
—
|
($133.9m)
|
$0
|
$18.7m
|
|
Net income (loss) attributable to Porch per share - basic (in usd per share)
|
|
($0)
|
($2)
|
($1)
|
($2)
|
($1)
|
($0)
|
($0)
|
|
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - basic (in shares)
|
|
0
|
(1)
|
1
|
(2)
|
(1)
|
(0)
|
0
|
|
Net income (loss) attributable to Porch per share - diluted (in usd per share)
|
|
($3)
|
($2)
|
($1)
|
($2)
|
($1)
|
($0)
|
($0)
|
|
Weighted average shares outstanding used to compute net income (loss) attributable to Porch per share - diluted (in shares)
|
|
0
|
(1)
|
1
|
(2)
|
(1)
|
(0)
|
0
|
|
Interest expense
|
|
($7.1m)
|
($14.7m)
|
($5.8m)
|
($8.7m)
|
($31.8m)
|
($42.5m)
|
($51.6m)
|
|
Investment income and realized gains and losses, net of investment expenses
|
|
—
|
—
|
$701k
|
$1.2m
|
$8.3m
|
$13.7m
|
$11.7m
|
|
Income tax expense
|
|
$33k
|
($1.7m)
|
$10.3m
|
($842k)
|
($622k)
|
($2.1m)
|
($11.4m)
|
|
Total other income (expense)
|
|
($15.1m)
|
($11.9m)
|
($33.5m)
|
$21.3m
|
$57.0m
|
$33.9m
|
($9.8m)
|