Porch Group Cuts FY24 Revenue Less Cost Of Revenue Outlook From $230M - $240M To $190M - $200M; Adjusted EBITDA Outlook From $2.5M - $12.5M To $(20)M - $(10)M
Portfolio Pulse from Benzinga Newsdesk
Porch Group has revised its FY24 revenue outlook from $230M-$240M to $190M-$200M and its adjusted EBITDA outlook from $2.5M-$12.5M to $(20)M-$(10)M.
August 06, 2024 | 10:04 pm
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NEGATIVE IMPACT
Porch Group has significantly lowered its FY24 revenue and adjusted EBITDA outlook, indicating potential financial struggles.
The significant reduction in both revenue and adjusted EBITDA outlooks suggests that Porch Group is facing financial difficulties, which is likely to negatively impact its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100