EarningsPorch Group, Inc. had another outstanding quarter, beating consensus revenue by $10 million for the second straight time and consensus EBITDA by half that.
Market PositionPorch has rapidly become a must-own name for any SMID cap portfolio, and the current insurance capacity shows the company is still probably in the early stages of growth.
Risk ManagementThe gross loss ratio improved significantly from 117% in the year-ago period to just 34% in the current quarter, suggesting that management has vastly derisked the portfolio.