Porch also disclosed its preliminary financial results for 2020, saying that it expects a net loss between $53 and $55 million for the year, about $20 million further into the red than previously projected in its public filings.
收购公告后,玄关嘘sted its revenue outlook for 2021 to $170 million, from $120 million previously. That would be an increase of more than 130% from the $72 million in revenue that Porch said it expects for its recently completed year.
After rising more than 12% in after-hours trading on Thursday, Porch Group stock was up more than 6% from its Thursday closing price, trading around $17 per share at the time of publication Friday morning.
The company’s status as a publicly traded company is “putting us on a different trajectory to be able to execute against our strategy,” said Matt Ehrlichman, the Porch founder and CEO, in an interview.
Porchraised more than $322 million in conjunction with its stock market debut12月24日通过与Proptech收购公司合并，公开交易专用收购公司，并从惠灵顿管理公司降落私人投资。
The injection of capital was critical for the company, which had a cash balance of $3.9 million as of June, filings show. At the end of last year, its recurring losses and working capital deficiency prompted its accountants to raise “substantial doubt” about its ability to continue as a going concern,根据其S-4注册声明。
- An agreement to acquire Homeowners of America (HOA) for $100 million, including $75 million in cash and an additional $25 million that the company may choose to fund in stock when the deal closes. HOA operates as a home insurer in six states and is licensed to operate in another 24 states, expanding Porch’s national footprint in the insurance sector. The deal is expected to close in the second quarter of this year.
- The acquisition of marketing data platformV12如果V12能够在未来两年内能够达到某些金融目标，则为2200万美元的现金，高达600万美元的额外考虑。