Porch Group, Inc. (NASDAQ:PRCH) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET
Company Participants
Lois Perkins - IR
Matthew Ehrlichman - Founder, Chairman & CEO
Shawn Tabak - CFO
Matthew Neagle - COO
Malcolm Conner - VP and GM, Home Services and Warranty
Conference Call Participants
Joshua Siegler - Cantor Fitzgerald
Austin Hayes - Stephens Inc.
Cal Bartyzal - Craig-Hallum
Daniel Kurnos - The Benchmark Company
Ryan Tomasello - KBW
Jason Helfstein - Oppenheimer
Lois Perkins
Good afternoon, everyone, and thank you for participating in Porch Group's Second Quarter 2023 Conference Call.
Today, we issued our second quarter earnings release and related Form 8-K to the SEC. The press release can be found on our Investor Relations website at ir.porchgroup.com. Joining me here today are Matt Ehrlichman, Porch Group's CEO, Chairman and Founder; Shawn Tabak, Porch Group CFO; Matthew Neagle, Porch Group COO; and Malcolm Conner, VP and GM of Home Services and Warranty.
Before we go further, I'd like to take a moment to read the company's Safe Harbor Statement within the meaning of the Private Securities Litigation Reform Act of 1995, which albeit important cautions regarding forward-looking statements. Today's discussion including responses to your questions reflects management's views as of today, August 8, 2023. We do not undertake any obligation to update or revise this information.
Additionally, we will make forward-looking statements about our expected future financial or business performance or conditions, business strategy and plans, including the pending application for the reciprocal exchange based on current expectations and assumptions. These statements are subject to risks and uncertainties, which could cause our actual results to differ materially from these forward-looking statements. We encourage you to consider the risk factors described in our SEC filings as well as the risk factor information in these slides for additional information.
We will reference both GAAP and non-GAAP financial measures on today's call. Please refer to today's press release for reconciliations of non-GAAP measures to the most comparable GAAP measures discussed during this earnings call. As a reminder, this webcast will be available for replay and also the presentation shortly after this call on the company's website. at ir.porchgroup.com.
And with that, I'll turn the call over to Matt Ehrlichman, CEO, Chairman and Founder of Porch Group. Over to you, Matt.
Matthew Ehrlichman
Thank you, Lois. Good afternoon, everybody. I want to start by giving a shout out and sincere appreciation to the Porch team, who are doing exceptional work across our business units. We remain on track for adjusted EBITDA profitability in the second half of this year and beyond. And if we can achieve this in what continues to be a historically challenging macro market for both of our 2 industries, insurance and housing, it will be a tremendous milestone, a proud accomplishment and it would set us up for strong growth in margins as the markets improve.