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Porch lifts 2026 adjusted EBITDA guidance to $119 million-$125 million
The company reported 38% revenue growth in its Insurance Services segment, with adjusted EBITDA more than doubling to $44 million in Q2.
Porch Group raised its 2026 adjusted EBITDA guidance to a range of $119 million to $125 million, according to Coverager. The midpoint of $122 million implies 59% growth and is more than $20 million above the company’s initial outlook.
During its Q2 2026 earnings call on July 29, Porch said investors have focused too heavily on reciprocal written premium, arguing that policy count also drives revenue because it collects fees on every new and renewing policy. Excluding its reciprocal insurer, Porch reported 23% revenue growth and a 30% adjusted EBITDA margin, while the Insurance Services segment delivered 38% revenue growth and a 48% adjusted EBITDA margin.
Porch reported reciprocal policies written rose 38% to 59,000, while reciprocal written premium grew 16% to $140 million, with management attributing the gap to rapid new-customer growth and lower premiums for new business. Porch also said it expects to stay profitable for the full year and beyond, and cited lower loss ratios that allow selective price reductions without compromising growth and profitability goals.
In addition, Porch reported the reciprocal ended the quarter with $170 million in statutory surplus, up 33% year over year. The company also said its corporate development team is evaluating numerous opportunities, and it completed its first catastrophe-bond transaction for the reciprocal, adding $100 million of protection at the top of its reinsurance tower for very low-probability events.