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Porch Group, Inc. (NASDAQ:PRCH), a prepackaged software services company with a market capitalization of $1.1 billion, disclosed the outcomes of its annual stockholders’ meeting held on June 11, 2025. The company, which has seen its stock surge over 500% in the past year according to InvestingPro data, reported high stockholder participation, with over 88% of the voting power present or represented by proxy.
The stockholders re-elected all nominated directors to serve on the Board of Directors until the 2026 annual meeting. The directors received overwhelming support, with each nominee securing between 98.3% and 99.2% of the votes cast in their favor. This strong backing comes as InvestingPro analysis shows the company maintaining healthy liquidity with a current ratio of 1.79, though it faces profitability challenges with negative earnings per share.
In addition to the election of directors, stockholders ratified the appointment of Grant Thornton LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal received near-unanimous approval, with 99.9% of the votes cast in favor.
Furthermore, the compensation of Porch Group’s named executive officers was approved on an advisory basis, with approximately 80.7% of the votes supporting the compensation package.
The company emphasized that no other matters were presented for stockholder action during the annual meeting. The results were filed with the Securities and Exchange Commission and are based on a press release statement.
In other recent news, Porch Group reported a strong financial performance, with shareholder revenue reaching $84 million and an adjusted EBITDA of $17 million for the first quarter, marking a significant improvement from the previous year’s negative $17 million. The company’s new reciprocal exchange insurance model, PIRE, has been credited with enhancing margins and reducing risks. In strategic developments, Porch Group expanded its insurance agency partnerships with Roamly Insurance Group, Evertree Insurance Services, and MassDrive Insurance Group to scale insurance premiums and broaden distribution. Additionally, Porch Group repurchased $8.9 million of its 2026 convertible notes, aiming to retire the remaining $21 million using cash reserves. Analyst firms have responded positively, with Benchmark maintaining a Buy rating and a $12 price target, while Loop Capital raised its price target from $6 to $13, citing consistent execution and the benefits of the PIRE model. The company also appointed John Campbell as Vice President of Investor Relations to strengthen its communication with investors. These developments indicate Porch Group’s strategic focus on financial restructuring and operational execution.
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