7Baggers

Porch Group Inc
(NASDAQ:PRCH) 

PRCH stock logo

Porch Group, Inc. operates a software platform in the United States and Canada. It provides software and services under the ISN, HireAHelper, and Kandela brands to home services companies, such as home inspectors, homebuyers and homeowners, insurance carriers, moving companies, security companies, a...

Founded: 2011
CEO / Founder: Matt Ehrlichman 
Sector: Technology
Industry: Software—Application
TechnologyInsuranceSPAC
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• Market Cap:
• Exchange:
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• Employees:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 
                              
      revenue
    		121,123,000 140,292,000 118,082,000 119,295,000 104,745,000 100,361,000 111,200,000 110,844,000 115,443,000 114,612,000 129,556,000 98,765,000 87,369,000 67,252,000 75,366,000 70,769,000 62,561,000 51,581,000 62,769,000 51,340,000 26,742,000      
      yoy
    		15.64% 39.79% 6.19% 7.62% -9.27% -12.43% -14.17% 12.23% 32.13% 70.42% 71.90% 39.56% 39.65% 30.38% 20.07% 37.84% 133.94%          
      qoq
    		-13.66% 18.81% -1.02% 13.89% 4.37% -9.75% 0.32% -3.98% 0.73% -11.53% 31.18% 13.04% 29.91% -10.77% 6.50% 13.12% 21.29% -17.82% 22.26% 91.98%       
      cost of revenue
    		30,275,000 28,570,000 31,135,000 43,422,000 39,297,000 11,061,000 47,076,000 91,646,000 75,844,000 34,677,000 52,961,000 81,330,000 51,275,000 24,561,000 33,269,000 28,558,000 21,189,000 14,138,000 19,158,000 19,500,000 5,930,000      
      gross profit
    		90,848,000 111,722,000 86,947,000 75,873,000 65,448,000                      
      yoy
    		38.81%                          
      qoq
    		-18.68% 28.49% 14.60% 15.93%                       
      gross margin %
    		75.00% 79.64% 73.63% 63.60% 62.48% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% NaN% NaN% NaN% NaN%  
      operating expenses:
    		                          
      selling and marketing
    		40,064,000 53,024,000 30,180,000 26,858,000 29,516,000 28,495,000 27,233,000 33,197,000 33,948,000 36,950,000 40,135,000 34,637,000 32,585,000 29,033,000 30,245,000 28,826,000 25,743,000 23,637,000 22,874,000 23,122,000 14,638,000      
      product and technology
    		13,031,000 13,661,000 13,379,000 13,076,000 13,201,000 12,064,000 14,559,000 14,731,000 13,920,000 14,611,000 14,446,000 15,495,000 13,950,000 15,119,000 14,438,000 15,777,000 14,231,000 12,847,000 11,317,000 11,050,000 11,789,000      
      general and administrative
    		25,938,000 23,260,000 27,053,000 30,890,000 23,997,000 22,902,000 24,875,000 24,371,000 26,399,000 25,925,000 28,659,000 22,779,000 26,066,000 30,259,000 25,257,000 28,405,000 26,699,000 19,332,000 22,034,000 20,611,000 24,016,000      
      operating income
    		11,815,000 16,452,000 16,335,000 5,049,000 -1,266,000 25,080,000 -2,504,000 -52,479,000 -34,668,000 7,380,000 199,000 -159,405,000 -38,528,000 -36,049,000 -84,900,000 -30,797,000 -25,301,000 -18,373,000 -12,614,000 -22,943,000 -29,631,000      
      yoy
    		-1033.25% -34.40% -752.36% -109.62% -96.35% 239.84% -1358.29% -67.08% -10.02% -120.47% -100.23% 417.60% 52.28% 96.21% 573.06% 34.23% -14.61%          
      qoq
    		-28.19% 0.72% 223.53% -498.82% -105.05% -1101.60% -95.23% 51.38% -569.76% 3608.54% -100.12% 313.74% 6.88% -57.54% 175.68% 21.72% 37.71% 45.66% -45.02% -22.57%       
      operating margin %
    		9.75% 11.73% 13.83% 4.23% -1.21% 24.99% -2.25% -47.34% -30.03% 6.44% 0.15% -161.40% -44.10% -53.60% -112.65% -43.52% -40.44% -35.62% -20.10% -44.69% -110.80% NaN% NaN% NaN% NaN%  
      other income:
    		                          
      interest expense
    		-14,606,000 -14,307,000 -13,963,000 -12,056,000 -11,246,000 -10,778,000 -10,645,000 -10,326,000 -10,787,000 -10,598,000 -10,267,000 -8,775,000 -2,188,000 -2,487,000 -2,085,000 -1,858,000 -2,293,000 -1,461,000 -1,857,000 -1,216,000 -1,223,000      
      change in fair value of private warrant liability
    		 5,299,000 -5,702,000 -2,878,000 -732,000 -385,000 50,000 1,451,000 -425,000 -1,064,000 260,000 15,000 345,000 95,000 124,000 4,078,000 10,189,000 2,132,000 2,692,000 -4,303,000 -15,910,000      
      change in fair value of derivatives
    		1,767,000 -1,676,000 1,785,000 12,853,000 6,673,000 13,641,000 -1,048,000 -8,207,000 1,483,000 -1,821,000 510,000 -2,950,000               
      investment income and realized gains and losses, net of investment expenses
    		3,398,000 3,207,000 2,989,000 2,665,000 2,810,000                      
      other income
    		1,367,000 2,621,000 1,535,000 1,493,000 8,400,000 1,610,000 2,014,000 2,400,000 22,678,000 368,000 1,185,000 1,578,000 762,000    56,000 115,000 316,000 -165,000 83,000      
      total other income
    		-8,074,000 -4,856,000 -12,995,000 2,111,000 5,905,000 6,828,000 16,703,000 -11,156,000 21,484,000 -9,278,000 -5,827,000 72,471,000 -323,000 -1,372,000 -1,514,000 4,888,000 19,328,000 -2,092,000 5,679,000  -35,820,000      
      income before income taxes
    		3,741,000 11,596,000 3,340,000 7,160,000 4,639,000 31,908,000 14,199,000 -63,635,000 -13,184,000 -1,898,000 -5,628,000 -86,934,000 -38,851,000 -37,421,000 -86,414,000 -25,909,000 -5,973,000 -20,465,000 -6,935,000 -24,027,000 -65,451,000      
      income tax expense
    		-1,805,000                    -350,000 -1,880,060  908 188,152  
      net income
    		1,936,000 4,317,000 -982,000 8,247,000 3,736,000 30,474,000 14,382,000 -64,323,000 -13,362,000 -2,486,000 -5,744,000 -86,963,000 -38,740,000 -37,995,000 -86,391,000 -26,377,000 -5,796,000 -20,109,000 -5,099,000 -16,296,000 -65,101,000 -48,835,108 -3,139,567 -180,059 545,734  
      yoy
    		-48.18% -85.83% -106.83% -112.82% -127.96% -1325.82% -350.38% -26.03% -65.51% -93.46% -93.35% 229.69% 568.39% 88.95% 1594.27% 61.86% -91.10% -58.82% 62.41% 8950.37% -12029.07%      
      qoq
    		-55.15% -539.61% -111.91% 120.74% -87.74% 111.89% -122.36% 381.39% 437.49% -56.72% -93.39% 124.48% 1.96% -56.02% 227.52% 355.09% -71.18% 294.37% -68.71% -74.97% 33.31% 1455.47% 1643.63% -132.99%   
      net income margin %
    		1.60% 3.08% -0.83% 6.91% 3.57% 30.36% 12.93% -58.03% -11.57% -2.17% -4.43% -88.05% -44.34% -56.50% -114.63% -37.27% -9.26% -38.99% -8.12% -31.74% -243.44% -Infinity% -Infinity% -Infinity% Infinity%  
      less: net income attributable to the reciprocal
    		6,649,000 7,795,000 9,875,000 5,668,000                       
      net income attributable to porch
    		-4,713,000 29,250 -10,857,000 2,579,000 8,395,000                      
      earnings per share - basic
    		                          
      net income attributable to porch per share - basic
    		-0.04  -0.1 0.03 0.08                      
      weighted-average shares outstanding used to compute net income attributable to porch per share - basic
    		106,073  104,301 103,160                       
      earnings per share - diluted
    		                          
      net income attributable to porch per share - diluted
    		-0.04  -0.1  0.07                      
      weighted-average shares outstanding used to compute net income attributable to porch per share - diluted
    		106,073  104,301 131,679                       
      comprehensive income
    		-975 5,413 497 9,328 6,346 -15,125,250 18,222,000                    
      other comprehensive income:
    		                          
      change in net unrealized loss, net of tax
    		-2,911 1,096 1,479 1,081 2,610 -4,388,000 3,840,000 -208,000 -830,000                  
      less: comprehensive income attributable to the reciprocal
    		4,696 8,599 11,302 6,735                       
      comprehensive income attributable to porch
    		-5,671 102.75 -10,805 2,593 8,623                      
      gain on extinguishment of debt
    		  361,000 34,000   22,545,000  4,891,000   81,354,000       -3,133,000 8,243,000       
      income tax benefit
    		 -1,034,500 -4,322,000 1,087,000  -170,750 183,000 -688,000 -178,000 -588,000 -116,000 -29,000 111,000 -574,000 23,000 -468,000 177,000 356,000 1,836,000 7,731,000       
      income tax provision
    		    -903,000                      
      less: net loss attributable to the reciprocal
    		    -4,659,000                      
      less: comprehensive loss attributable to the reciprocal
    		    -2,277                      
      provision for (recovery of) doubtful accounts
    		     -130,000 -39,000 -622,000  10,527,750 -6,844,000                
      impairment loss on intangible assets and goodwill
    		           55,211,000 2,021,000 4,329,000 57,057,000            
      total operating expenses
    		     75,281,000 113,704,000 163,323,000 150,111,000 107,232,000 129,357,000 258,170,000 125,897,000 103,301,000 160,266,000 101,566,000 87,862,000 69,954,000 75,383,000 74,283,000 56,373,000      
      investment income and realized gains, net of investment expenses
    		     2,739,250 3,787,000 3,526,000 3,644,000 3,793,000 2,485,000 1,249,000 758,000 399,000 335,000 243,000 197,000 253,000 248,000        
      net income per share
    		     0.31 0.14 -0.65 -0.14 -0.02 -0.06 -0.91               
      comprehensive loss
    		       -64,531,000 -14,192,000                  
      shares used in computing basic and diluted net loss per share
    		       99,193 97,512 -95,674,619 96,366,613 95,731,850               
      change in fair value of earnout liability
    		             13,000 43,000 2,587,000 11,179,000 -3,131,000 7,413,000 -4,032,000 -18,770,000      
      provision for doubtful accounts
    		           48,718,000               
      loss per share - basic and diluted
    		            -0.41   -0.27 -0.06          
      shares used in computing basic and diluted loss per share
    		            95,209,819   97,142,163 96,074,527          
      other expense
    		             -9,250 69,000 -162,000           
      loss per share - basic
    		             -0.39 -0.88   -0.21 -0.05        
      loss per share - diluted
    		             -0.39 -0.88   -0.21 -0.08        
      shares used in computing basic loss per share
    		             341,890 97,792,485   1,340,429 96,839,292        
      shares used in computing diluted loss per share
    		             341,890 97,792,485   1,340,429 97,545,942        
      gain on divestiture of businesses
    		                          
      investment income and realized gains
    		                   387,000       
      total other expense
    		                   -1,084,000       
      net loss attributable per share to common stockholders:
    		                          
      basic
    		                   -0.17 -0.76      
      diluted
    		                   -0.17 -0.76      
      weighted-average shares used for eps calculation
    		                          
      basic
    		                   95,221,928 85,331,575 36,344,234     
      diluted
    		                   95,221,928 85,331,575 36,344,234     
      general and administrative expenses
    		                     836,866 3,063,934 153,473 130,057  
      administrative expenses - related party
    		                     22,500 30,000 30,000 30,000  
      franchise tax expense
    		                     38,004.25 50,000 50,000 52,017  
      income from operations
    		                     -897,370.25 -3,143,934 -233,473 -212,074  
      gain on investments, dividends and interest, held in the trust account
    		                     251,162.25 4,367 54,322   
      loss before income tax expense
    		                     -646,208 -3,139,567    
      weighted-average number of shares outstanding of class a common stock
    		                      17,250,000 17,250,000 17,250,000  
      basic and diluted net income per share, class a
    		                     0.01   0.04  
      weighted-average number of shares outstanding of class b common stock
    		                      4,312,500 4,312,500 4,312,500  
      basic and diluted net loss per share, class b
    		                     -0.2 -0.72 -0.04 -0.04  
      income before income tax expense
    		                       -179,151 733,886  
      gain on investments (net), dividends and interest, held in the trust account
    		                        945,960  
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 
                                
        assets
      		                          
        current assets
      		                          
        cash and cash equivalents
      		64,202,000 44,676,000 73,433,000 76,091,000 65,899,000 167,643,000 206,728,000 274,246,000 279,073,000 258,418,000 343,008,000 265,573,000 179,357,000 215,060,000 260,198,000 271,003,000 292,373,000 315,741,000 410,217,000 150,201,000 222,948,000 196,046,000     
        accounts receivable
      		12,100,000 11,307,000 13,222,000 12,226,000 12,243,000 19,106,000 21,318,000 21,437,000 20,801,000 24,288,000 26,890,000 24,715,000 23,600,000 26,438,000 37,032,000 38,474,000 29,996,000 28,767,000 33,641,000 22,982,000 9,629,000 4,661,000     
        short-term investments
      		4,215,000 12,616,000 11,607,000 3,746,000 4,510,000 24,099,000 31,843,000 34,152,000 31,175,000 35,588,000 28,679,000 26,151,000 34,441,000 36,523,000 7,212,000 8,165,000 8,462,000 9,251,000 10,142,000 10,149,000       
        prepaid expenses
      		7,542,000 6,440,000                       210,367 217,566 
        restricted cash and cash equivalents
      		8,060,000 8,503,000 8,128,000 8,407,000 17,213,000 29,139,000 9,950,000 11,119,000 36,820,000 38,814,000                 
        other current assets
      		5,334,000 4,666,000                         
        total current assets
      		101,453,000 88,208,000 116,302,000 113,753,000 111,368,000 365,127,000 406,870,000 480,131,000 480,376,000 481,078,000 561,755,000 657,848,000 575,803,000 610,635,000 645,885,000 624,808,000 601,819,000 605,064,000 713,420,000 500,354,000 250,881,000 216,005,000 1,234,172 1,424,843 1,442,120 1,630,467 
        property, equipment, and software
      		29,600,000 27,607,000 28,399,000 26,465,000 24,299,000 22,542,000 21,141,000 19,278,000 17,588,000 16,861,000 15,660,000 14,768,000 13,727,000 12,240,000 11,236,000 9,984,000 8,340,000 6,666,000 7,656,000 7,888,000 5,328,000 4,593,000     
        goodwill
      		191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 191,907,000 247,118,000 244,697,000 228,091,000 273,831,000 226,576,000 225,654,000 170,427,000 120,961,000 50,120,000 28,289,000     
        long-term investments
      		57,597,000 55,412,000 38,895,000 29,228,000 26,215,000 158,652,000 165,935,000 101,409,000 102,941,000 103,588,000 86,689,000 66,579,000 58,678,000 55,118,000 55,357,000 56,228,000 56,865,000 58,324,000 58,646,000 57,243,000       
        intangible assets
      		28,815,000 30,492,000 32,200,000 35,207,000 38,153,000 68,746,000 73,273,000 77,800,000 82,505,000 87,216,000 91,952,000 96,826,000 101,753,000 108,255,000 111,728,000 136,575,000 124,306,000 129,830,000 91,650,000 84,670,000 22,715,000 15,961,000     
        other assets
      		6,381,000 6,541,000 6,839,000 6,965,000 7,092,000 6,994,000 8,138,000 5,581,000 5,600,000 5,314,000 5,748,000 2,015,000 2,346,000 1,646,000 3,057,000 1,519,000 5,373,000 684,000 368,000 368,000 444,000 378,000     
        assets of reciprocal:
      		                          
        cash and cash equivalents, including restricted
      		107,094,000 115,932,000 111,235,000 103,395,000 82,895,000                      
        reinsurance balance due
      		38,409,000     92,303,000 103,429,000 104,730,000 75,419,000 83,582,000 98,491,000 272,467,000 292,775,000 299,060,000 303,987,000 273,971,000 239,739,000 228,416,000 246,170,000 307,956,000       
        prepaid expenses and other current assets
      		3,223,000 3,945,000 9,912,000 13,283,000 11,503,000 15,295,000 17,027,000 18,168,000 16,666,000 13,214,000 45,981,000 29,665,000 30,834,000 20,009,000 21,160,000 22,621,000 21,087,000 14,338,000 8,636,000 6,844,000 7,869,000 3,891,000     
        deferred policy acquisition costs
      		28,469,000     17,542,000 16,575,000 16,279,000 20,422,000 27,174,000                 
        total assets
      		806,582,000 797,423,000 787,746,000 770,717,000 802,283,000 813,968,000 867,264,000 876,106,000 881,113,000 899,393,000 967,384,000 1,047,143,000 1,016,716,000 1,049,057,000 1,072,481,000 1,119,958,000 1,036,762,000 1,038,747,000 1,050,326,000 777,624,000 334,236,000 268,591,000 174,431,938 174,635,119 175,042,351 174,369,172 
        liabilities and stockholders' equity
      		                          
        current liabilities
      		                          
        accounts payable
      		3,431,000 4,046,000 4,593,000 4,180,000 5,673,000 4,538,000 5,145,000 3,134,000 5,250,000 8,761,000 9,054,000 9,330,000 6,200,000 6,268,000 6,717,000 7,739,000 8,016,000 6,965,000 5,525,000 4,621,000 6,384,000 8,903,000 58,858 4,845 27,591 27,750 
        accrued expenses and other current liabilities
      		52,193,000 38,877,000 56,961,000 44,294,000 46,623,000 41,245,000 46,946,000 45,536,000 53,466,000 59,396,000 42,257,000 33,873,000 38,856,000 39,742,000 36,847,000 47,967,000 35,029,000 37,675,000 57,274,000 25,670,000 15,268,000 9,991,000     
        deferred revenue
      		4,161,000 4,552,000 4,540,000 4,255,000 8,008,000 248,669,000 251,777,000 223,202,000 215,771,000 248,683,000 265,483,000 256,617,000 246,502,000 270,690,000 277,616,000 243,425,000 198,857,000 201,085,000 190,137,000 162,627,000 4,346,000 4,870,000     
        refundable customer deposits
      		11,773,000 12,535,000 13,284,000 13,498,000 12,767,000 12,629,000 13,126,000 14,480,000 16,040,000 17,980,000 19,424,000 19,929,000 20,984,000 20,142,000             
        current debt
      		7,782,000 7,772,000 7,762,000   150,000 150,000 150,000 150,000 244,000 1,647,000 5,439,000 10,392,000 16,455,000             
        total current liabilities
      		79,340,000 67,782,000 87,140,000 66,227,000 73,071,000 414,156,000 491,507,000 486,922,000 443,979,000 462,152,000 521,823,000 603,746,000 516,883,000 515,639,000 503,565,000 468,937,000 381,395,000 363,122,000 377,108,000 417,029,000 35,504,000 31,174,000 3,007,478 71,092 298,265 170,820 
        long-term debt
      		391,263,000 385,060,000 379,368,000 394,128,000 409,160,000 403,788,000 398,882,000 436,635,000 432,082,000 435,495,000 431,186,000 426,965,000 425,383,000 425,310,000 425,012,000 416,568,000 415,002,000 414,585,000 417,976,000 43,834,000 42,624,000 43,237,000     
        other liabilities
      		12,046,000 14,987,000 14,777,000 17,690,000 31,690,000 39,249,000 53,918,000 54,458,000 48,910,000 37,429,000 23,217,000 23,826,000 26,183,000 25,468,000 24,952,000 30,825,000 15,528,000 12,242,000 5,449,000 5,486,000 3,068,000 3,798,000     
        liabilities of reciprocal:
      		                          
        accounts payable and other current liabilities
      		7,768,000 13,838,000 7,767,000 2,847,000 1,455,000                      
        losses and loss adjustment expense reserves
      		47,448,000     67,785,000 100,610,000 133,220,000 112,560,000 95,503,000 129,775,000 165,709,000 115,527,000 100,632,000 100,298,000 88,894,000 79,608,000 61,949,000 87,737,000 115,500,000       
        other insurance liabilities, current
      		26,357,000     39,140,000 73,753,000 67,200,000 40,742,000 31,585,000 54,183,000 112,849,000 78,422,000 61,710,000 55,945,000 61,516,000 43,049,000 40,024,000 34,819,000 106,208,000       
        total liabilities
      		780,275,000 775,037,000 777,259,000 772,905,000 834,332,000 857,193,000 944,307,000 978,015,000 924,971,000 935,076,000 1,004,564,000 1,083,885,000 971,440,000 969,704,000 957,356,000 920,978,000 821,883,000 821,702,000 858,050,000 548,854,000 172,229,000 129,180,000 9,044,978 6,108,592 6,335,765 6,208,320 
        commitments and contingencies
      		                          
        stockholders' equity
      		                          
        common stock, 0.0001 par value per share...
      		11,000 11,000 10,000 10,000 10,000 10,000    10,000                 
        additional paid-in capital
      		630,397,000 622,996,000 616,511,000 604,333,000 583,800,000 717,066,000 709,364,000 702,720,000 696,240,000 690,223,000 690,024,000 683,151,000 677,426,000 670,537,000 664,362,000 659,814,000 647,551,000 641,406,000 596,156,000 627,396,000 544,605,000 454,486,000 7,741,240 4,601,701 4,421,643 4,967,368 
        accumulated other comprehensive income
      		-316,000 642,000 350,000 298,000 284,000              113,000 267,000       
        accumulated deficit
      		-655,492,000 -648,268,000 -644,790,000 -633,933,000 -636,512,000 -754,855,000 -785,359,000 -799,741,000 -735,418,000 -722,056,000 -719,571,000 -713,827,000 -626,864,000 -585,023,000 -542,676,000 -456,285,000 -429,908,000 -424,112,000 -404,003,000 -398,903,000 -382,607,000 -315,083,000     
        porch stockholders' deficit
      		-25,400,000 -24,619,000 -27,919,000 -29,292,000 -52,418,000                      
        noncontrolling interest related to the reciprocal
      		51,707,000 47,005,000 38,406,000 27,104,000 20,369,000                      
        total stockholders' equity
      		26,307,000 22,386,000 10,487,000                      5,000,006  
        total liabilities and stockholders' equity
      		806,582,000 797,423,000 787,746,000                      175,042,351  
        authorized shares – 400 million and 400 million, at december 31, 2025, and december 31, 2024, respectively
      		                          
        issued and outstanding shares – 124.1 million and 119.8 million, at december 31, 2025, and december 31, 2024, respectively
      		                          
        liabilities and stockholders' deficit
      		                          
        stockholders' deficit
      		                          
        total stockholders' deficit
      		   -2,188,000 -32,049,000 -43,225,000 -77,043,000 -101,909,000                   
        total liabilities and stockholders' deficit
      		   770,717,000 802,283,000 813,968,000 867,264,000 876,106,000                   
        authorized shares – 400 million and 400 million, at december 31, 2024 and 2023, respectively
      		                          
        issued and outstanding shares – 119.8 million and 97.1 million, at december 31, 2024 and 2023, respectively
      		                          
        accumulated other comprehensive loss
      		     -5,446,000 -1,058,000 -4,898,000 -4,690,000 -3,860,000 -7,643,000 -6,076,000 -5,296,000 -6,171,000 -6,571,000 -4,559,000 -2,774,000 -259,000         
        common stock
      		      10,000 10,000 10,000  10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 9,000 8,000     
        authorized shares – 400 million and 400 million, at september 30, 2024, and december 31, 2023, respectively
      		                          
        issued and outstanding shares – 118.9 million and 97.1 million, at september 30, 2024, and december 31, 2023, respectively
      		                          
        authorized shares – 400 million and 400 million, at june 30, 2024, and december 31, 2024, respectively
      		                          
        issued and outstanding shares – 104.5 million and 97.1 million, at june 30, 2024, and december 31, 2024, respectively
      		                          
        long-term insurance commissions receivable
      		        196,000 13,429,000 13,673,000 13,502,000 13,140,000 12,265,000 11,930,000 10,461,000 9,061,000 7,521,000 7,159,000 6,140,000 4,748,000 3,365,000     
        liabilities and stockholders’ equity
      		                          
        stockholders’ equity
      		                          
        authorized shares – 400 million and 400 million, at march 31, 2024, and december 31, 2023, respectively
      		                          
        issued and outstanding shares – 97.9 million and 97.1 million, at march 31, 2024, and december 31, 2023, respectively
      		                          
        total stockholders’ equity
      		        -43,858,000 -35,683,000 -37,180,000 -36,742,000 45,276,000 79,353,000 115,125,000 198,980,000 214,879,000 217,045,000 192,276,000 228,770,000 162,007,000 139,411,000 5,000,010 5,000,007  5,000,002 
        total liabilities and stockholders’ equity
      		        881,113,000 899,393,000 967,384,000 1,047,143,000 1,016,716,000 1,049,057,000 1,072,481,000 1,119,958,000 1,036,762,000 1,038,747,000 1,050,326,000 777,624,000 334,236,000 268,591,000 174,431,938 174,635,119  174,369,172 
        authorized shares – 400 million and 400 million, at december 31, 2023 and 2022, respectively
      		                          
        issued and outstanding shares – 97.1 million and 98.5 million, at december 31, 2023 and 2022, respectively
      		                          
        restricted cash
      		          18,706,000 39,277,000 14,796,000 13,545,000 16,296,000 10,574,000 10,162,000 8,551,000 4,614,000 2,222,000 10,435,000 11,407,000     
        operating lease liabilities, non-current
      		          1,897,000 2,137,000 2,585,000 2,536,000 2,968,000 3,622,000 2,267,000 2,694,000         
        earnout liability, at fair value
      		          44,000 44,000 44,000 44,000 57,000 100,000 2,687,000 13,866,000 39,811,000 47,224,000 43,193,000 50,442,000     
        private warrant liability, at fair value
      		          87,000 347,000 362,000 707,000 802,000 926,000 5,004,000 15,193,000 17,706,000 34,903,000 47,444,000      
        derivative liability, at fair value
      		          26,310,000 26,820,000               
        authorized shares – 400,000,000 and 400,000,000, respectively
      		                          
        issued and outstanding shares – 98,482,323 and 98,455,838, respectively
      		                          
        operating lease right-of-use assets
      		           3,698,000 4,151,000 4,201,000 4,697,000 6,052,000 3,922,000 4,504,000         
        issued and outstanding shares – 98,168,956 and 98,455,838, respectively
      		                          
        issued and outstanding shares – 97,018,032 and 98,455,838, respectively
      		                          
        restricted cash, non-current
      		              500,000 500,000 500,000 500,000 1,000,000        
        issued and outstanding shares – 98,455,838 and 97,961,597, respectively
      		                          
        refundable customer deposit
      		              19,867,000 19,246,000 16,686,000 15,274,000 1,509,000 2,299,000 2,026,000 2,664,000     
        current portion of long-term debt
      		              6,275,000 150,000 150,000 150,000 107,000 104,000 7,480,000 4,746,000     
        issued and outstanding shares – 100,410,325 and 97,961,597, respectively
      		                          
        issued and outstanding shares – 99,440,528 and 97,961,597, respectively
      		                          
        issued and outstanding shares – 98,297,186 and 97,961,597, respectively
      		                          
        refundable customer deposit, non-current
      		                   378,000 396,000 529,000     
        issued and outstanding shares – 97,961,597 and 81,669,151, respectively
      		                          
        issued and outstanding shares – 97,332,998 and 81,669,151, respectively
      		                          
        issued and outstanding shares – 96,293,416 and 81,669,151, respectively
      		                          
        authorized shares – 400,000,000 and 400,000,000
      		                          
        issued and outstanding shares – 91,455,732 and 81,669,151
      		                          
        accrued acquisition compensation
      		                          
        authorized shares – 400,000,000 and 52,575,160
      		                          
        issued and outstanding shares – 81,669,151 and 34,197,822
      		                          
        assets:
      		                          
        current assets:
      		                          
        cash
      		                      906,994 1,066,867 1,231,753 1,412,901 
        prepaid and other incomes
      		                      327,178 357,976   
        investments held in trust account
      		                      173,197,766 173,210,276 173,600,231 172,738,705 
        liabilities and stockholders’ equity:
      		                          
        current liabilities:
      		                          
        accrued expenses
      		                      2,849,250   26,711 
        franchise tax payable
      		                      99,370 66,247 50,000 83,836 
        income tax payable
      		                        220,674 32,523 
        deferred underwriting commissions
      		                      6,037,500 6,037,500 6,037,500 6,037,500 
        class a common stock, 0.0001 par value...
      		                      160,386,950 163,526,520 163,706,580 163,160,850 
        stockholders’ equity:
      		                          
        preferred stock, 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
      		                          
        class b common stock, 0.0001 par value...
      		                      431 431 431 431 
        retained earnings
      		                      -2,741,782 397,785 577,844 32,110 
        general and administrative expenses
      		                      3,063,934    
        administrative expenses - related party
      		                      30,000    
        franchise tax expense
      		                      50,000    
        income from operations
      		                      -3,143,934    
        gain on investments, dividends and interest, held in the trust account
      		                      4,367    
        income before income tax expense
      		                      -3,139,567    
        income tax expense
      		                          
        net income
      		                      -3,139,567    
        weighted-average number of shares outstanding of class a common stock
      		                      17,250,000    
        basic and diluted net income per share, class a
      		                          
        weighted-average number of shares outstanding of class b common stock
      		                      4,312,500    
        basic and diluted net income per share, class b
      		                      -0.72    
        liabilities and stockholders' equity:
      		                          
        stockholders' equity:
      		                          
        commitments
      		                          
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 
                                 
          cash flows from operating activities:
        		                         
          net income
        		1,936,000 4,317,000 -982,000 8,247,000 3,736,000                  -3,139,567 -180,059 545,734 
          adjustments to reconcile net income to net cash from operating activities
        		                         
          depreciation and amortization
        		5,078,000 7,185,000 5,872,000 5,426,000 5,985,000 6,954,000 6,049,000 6,202,000 6,317,000 5,914,000 6,272,000 6,214,000 6,015,000  8,675,000 6,416,000 6,483,000  4,431,000 3,893,000 2,463,000     
          provision for doubtful accounts
        		1,533,000 1,821,000 736,000 1,375,000 1,393,000                     
          change in fair value of private warrant liability
        		 -5,299,000 5,702,000 2,878,000 732,000 385,000 -50,000 -1,451,000 425,000 1,064,000                
          change in fair value of derivatives
        		-1,767,000 1,676,000 -1,785,000 -12,853,000 -6,673,000 -13,641,000 1,048,000 8,207,000 -1,483,000                 
          stock-based compensation
        		7,283,000 8,861,000 7,181,000 8,000,000 4,910,000 7,973,000 6,735,000 7,105,000 5,368,000 432,000 6,979,000 6,404,000 6,894,000  5,089,000 9,702,000 5,854,000  5,884,000 6,642,000 16,835,000     
          non-cash interest expense
        		14,856,000 -2,387,000 14,117,000 6,181,000 11,334,000 -330,000 10,311,000 6,879,000 10,434,000                 
          other operating activities
        		-1,007,000 -888,000 -879,000 -819,000 -10,000                     
          change in operating assets and liabilities, net of acquisitions and divestitures
        		                         
          accounts receivable
        		-3,660,000 -1,377,000 -2,075,000 -1,286,000 -753,000 1,520,000 -127,000 -1,109,000 -439,000 2,374,000 -2,374,000 -1,589,000 2,619,000  1,268,000 -8,611,000 -1,296,000  -407,000 -4,171,000 -846,000     
          reinsurance balance due
        		-764,000 -1,887,000 8,689,000 48,841,000 -2,081,000 11,059,000 1,586,000 -28,216,000 8,174,000 20,068,000 181,019,000 -27,937,000 6,286,000  -30,016,000 -34,232,000 -11,323,000  61,786,000       
          deferred policy acquisition costs
        		-1,762,000 -16,120,000 -984,000 6,395,000 1,544,000 -967,000 -296,000 4,143,000 6,752,000                 
          prepaid expenses and other current assets
        		-5,744,000          -16,316,000 1,170,000 -10,826,000  1,461,000 -1,009,000 -6,749,000  -1,564,000 1,213,000 441,000     
          accounts payable
        		-355,000 -2,434,000 2,608,000 -1,499,000 1,163,000 -607,000 2,011,000 -2,116,000 -3,511,000 -287,000 -151,000 2,998,000 -69,000  3,978,000 -5,277,000 1,051,000  -1,867,000 -13,327,000 -8,090,000 3,761,892 54,013 -22,746 -159 
          accrued expenses and other current liabilities
        		-2,274,000 3,020,000 5,486,000 -4,539,000 99,000 1,490,000 -4,326,000 -9,656,000 1,829,000 7,937,000 1,583,000 -12,296,000 1,390,000 7,992,000 -10,359,000 5,503,000 -3,145,000 -2,101,000 6,323,000 -5,917,000 2,625,000     
          losses and loss adjustment expense reserves
        		-1,712,000 -7,901,000 -11,007,000 -3,744,000 4,027,000 -32,825,000 -32,610,000 20,660,000 17,057,000 -34,272,000 -35,934,000 50,182,000 14,895,000  11,404,000 9,286,000 17,659,000  -27,763,000       
          other insurance liabilities, current
        		2,523,000 -2,881,000 -3,243,000 -1,742,000 -7,440,000 -34,613,000 6,553,000 26,457,000 9,158,000 -22,598,000 -58,666,000 34,427,000 16,712,000  -5,571,000 18,467,000 3,025,000  -71,389,000       
          deferred revenue
        		-4,820,000 15,922,000 10,624,000 -25,290,000 -26,238,000 -3,214,000 28,470,000 7,324,000 -33,017,000 -16,887,000 8,795,000 10,609,000 -24,100,000  33,990,000 39,838,000 -2,228,000  27,124,000 17,186,000 -1,362,000     
          refundable customer deposits
        		-762,000 -749,000 -214,000 731,000 138,000 -497,000 -1,354,000 -1,560,000 -2,034,000 -1,677,000 -4,187,000 -3,454,000 -4,607,000  621,000 2,560,000 1,412,000  -1,168,000 -436,000 -837,000     
          other assets and liabilities
        		4,440,000 366,000 1,342,000 -727,000 -3,016,000 3,860,000 -2,441,000 -1,688,000 11,122,000 -4,849,000                
          net cash from operating activities
        		13,022,000 1,201,000 40,827,000 35,569,000 -11,178,000 -26,602,000 12,425,000 -25,970,000 8,465,000 -40,969,000 83,675,000 13,254,000 -22,031,000 6,062,000 -10,502,000 10,985,000 -13,291,000 37,638,000 -10,945,000 -7,837,000 -22,935,000 -47,617,505 -176,750 -609,163 -265,582 
          capital expenditures
        		-3,731,000 -3,486,000 -3,848,000 -3,681,000 -3,346,000 -3,874,000 -3,377,000 -3,188,000 -2,356,000 -2,397,000 -2,292,000 -2,624,000 -2,783,000 0 -2,754,000 -2,294,000 -2,741,000 0 -1,168,000 -1,217,000 -832,000 0 0 0 0 
          free cash flows
        		9,291,000 -2,285,000 36,979,000 31,888,000 -14,524,000 -30,476,000 9,048,000 -29,158,000 6,109,000 -43,366,000 81,383,000 10,630,000 -24,814,000 6,062,000 -13,256,000 8,691,000 -16,032,000 37,638,000 -12,113,000 -9,054,000 -23,767,000 -47,617,505 -176,750 -609,163 -265,582 
          cash flows from investing activities:
        		                         
          purchases of property and equipment
        		-176,000 -92,000 -91,000 -206,000 -65,000 -192,000 -245,000 -45,000 -41,000 -75,000 -104,000 -316,000 -356,000  -447,000 -372,000 -1,167,000  -49,000 -505,000 -34,000     
          capitalized internal use software development costs
        		-3,555,000 -3,394,000 -3,757,000 -3,475,000 -3,281,000 -3,682,000 -3,132,000 -3,143,000 -2,315,000 -2,322,000 -2,188,000 -2,308,000 -2,427,000  -2,307,000 -1,922,000 -1,574,000  -1,119,000 -712,000 -798,000     
          purchases of short-term and long-term investments
        		-30,093,000 -44,340,000 -28,576,000 -34,522,000 -40,901,000 -12,777,000 -78,955,000   -31,164,000 -36,249,000 -18,192,000 -5,410,000  -5,885,000 -4,726,000 -8,835,000  -9,650,000       
          maturities, sales of short-term and long-term investments
        		33,434,000 25,316,000 7,065,000 32,302,000 24,879,000 23,799,000 21,359,000   11,511,000 12,288,000 18,013,000 5,020,000  5,553,000 3,792,000 8,449,000  8,257,000       
          net cash from investing activities
        		-390,000 -22,510,000 -24,142,000 -5,901,000 -19,368,000 7,148,000 -60,973,000 -3,933,000 12,697,000 -22,050,000 -26,253,000 -2,803,000 -5,147,000 56,995,000 -8,040,000 -30,327,000 -8,077,000 -274,040,000 -53,359,000 -107,584,000 -23,714,000 -11,216,588 16,877 444,277 84,434 
          cash flows from financing activities:
        		                         
          repayments of principal
        		 0 -12,306,000 -55,708,000 -150,000 -169,000 -20,049,000 0 -3,150,000 0 0               
          repurchase of stock
        		-2,511,000         0 0 0 -5,608,000             
          other financing activities
        		124,000 -2,376,000 524,000 -868,000 -79,000                     
          net cash from financing activities
        		-2,387,000 -2,376,000 -11,782,000 -7,782,000 -229,000 -442,000 -20,139,000 -625,000 -2,501,000 -1,463,000 -558,000 100,246,000 -7,274,000 -15,259,000    28,024,000 327,712,000 34,461,000 72,579,000     
          net change in cash, cash equivalents, and restricted cash and cash equivalents
        		10,245,000 -23,685,000 4,903,000 21,886,000 -30,775,000                     
          cash, cash equivalents, and restricted cash and cash equivalents at beginning of period
        		169,111,000 0 0 0 196,782,000                     
          cash, cash equivalents, and restricted cash and cash equivalents at end of period
        		179,356,000 -23,685,000 4,903,000 21,886,000 166,007,000                     
          supplemental schedule of non-cash investing and financing activities
        		                         
          non-cash additions of internally developed software
        		1,135,000                         
          supplemental disclosures
        		                         
          cash paid for interest
        		41,000  85,000 12,009,000 12,000  457,000 11,087,000 969,000                 
          income taxes paid
        		8,259,000  102,000 260,000 89,000                     
          impairment loss on intangible assets and goodwill
        		         0 0 55,211,000 2,021,000             
          gain on extinguishment of debt
        		 0 -361,000   0 -22,545,000 0 -4,891,000 0 0               
          loss on divestiture of business
        		     0 0 87,000 5,244,000                 
          change in fair value of contingent consideration
        		    -28,000 -3,284,000 142,000 -1,351,000 1,051,000 -2,067,000                
          gain on settlement of contingent consideration
        		     0 0 0 -14,930,000                 
          proceeds from sale of business
        		 0    0 0 522,000 10,348,000                 
          acquisitions, net of cash acquired
        		         0 0 0 -1,974,000  -4,954,000    -50,798,000 -105,001,000 -22,882,000     
          proceeds from advance funding
        		         0 3,000 3,000 313,000             
          repayments of advance funding
        		         -1,171,000 -279,000 -1,402,000 -1,281,000             
          proceeds from issuance of debt
        		 0 0       0 0               
          cash paid for debt issuance costs
        		 0 0       -44,000 -40,000               
          non-cash reduction of convertible notes
        		  444,000    23,180,000 0 5,000,000                 
          non-cash reduction in advance funding arrangement obligations
        		                         
          non-cash warrant exercises
        		                         
          net loss
        		     30,474,000 14,382,000 -64,323,000 -13,362,000 -2,486,000 -5,744,000 -86,963,000 -38,740,000  -86,391,000 -26,377,000 -5,796,000  -5,099,000 -16,297,000 -65,101,000     
          adjustments to reconcile net loss to net cash from operating activities
        		                         
          proceeds from line of credit
        		                         
          net change in cash and cash equivalents & restricted cash and cash equivalents
        		     -19,896,000 -68,687,000 -30,528,000 18,661,000                 
          cash and cash equivalents & restricted cash and cash equivalents, beginning of period
        		     0 0 0 297,232,000                 
          cash and cash equivalents & restricted cash and cash equivalents, end of period
        		     -19,896,000 -68,687,000 -30,528,000 315,893,000                 
          provision for (recovery of) doubtful accounts
        		      -39,000                   
          other
        		      -1,074,000 -1,083,000 -799,000 55,000 197,000 563,000 242,000  400,000 16,000 64,000  100,000 -1,254,000 -225,000     
          non-cash reduction in advanced funding arrangement obligations
        		      0 0 94,000                 
          income tax refunds paid
        		      8,000                   
          purchases, maturities, sales of short-term and long-term investments
        		        4,705,000                 
          income tax refunds received
        		        -174,000                 
          change in fair value of earnout liability and derivatives
        		         1,777,000                
          capped call transactions
        		                 -10,583,000        
          proceeds from exercises of warrants
        		                 -31,000 0 37,001,000 89,771,000     
          income tax withholdings paid upon vesting of restricted stock units
        		           -679,000 -204,000 -229,000 -957,000 -1,210,000 -712,000 -5,099,000 -1,652,000 -5,129,000 -16,997,000     
          net change in cash, cash equivalents, and restricted cash
        		         -64,482,000 56,864,000 110,697,000 -34,452,000  -5,083,000 -20,958,000 -21,757,000         
          cash, cash equivalents, and restricted cash, beginning of period
        		         0 0 0 228,605,000  0 0 324,792,000  0 0 207,453,000     
          cash, cash equivalents, and restricted cash end of period
        		         -64,482,000 56,864,000 110,697,000 194,153,000  -5,083,000 -20,958,000 303,035,000  263,408,000 -80,960,000 233,383,000     
          interest expense
        		          10,386,000 8,294,000 1,534,000 -62,000 -52,000 1,293,000 1,046,000 576,000 0 -244,000 311,000     
          long-term insurance commissions receivable
        		          -171,000 -362,000 -875,000  -1,469,000 -1,400,000 -1,540,000  -1,019,000 -1,392,000 -1,383,000     
          supplemental schedule of non-cash financing activities
        		                         
          non-cash consideration for acquisitions
        		                         
          gain on remeasurement of private warrant liability
        		           -15,000 -345,000             
          loss on remeasurement of contingent consideration
        		           -2,656,000 -154,000  565,000 1,481,000 3,205,000  -66,000 41,000 -355,000     
          loss on remeasurement of earnout liability and derivatives
        		                         
          proceeds from exercises of stock options
        		           0 8,000 8,000 416,000 219,000 473,000  972,000 2,189,000 355,000     
          proceeds from sale of common stock
        		           0 191,000             
          payments of acquisition-related contingent consideration
        		           -82,000 -194,000  0           
          amortization of operating lease right-of-use assets
        		            475,000  1,017,000 22,000 582,000         
          loss on sale and impairment of property, equipment, and software
        		            4,000             
          gain on remeasurement of earnout liability
        		                         
          amortization of investment premium/accretion of discount
        		            -280,000  570,000 566,000 566,000         
          net realized losses on investments
        		            67,000  49,000 70,000 68,000         
          operating lease liabilities, non-current
        		            -489,000  -568,000 -1,133,000 -235,000         
          repayments of principal and related fees
        		            -499,000  0 0 -150,000  -42,815,000 0 -150,000     
          equity in net loss of subsidiary
        		                         
          loss on remeasurement of private warrant liability
        		             -95,000 -124,000 -4,078,000 -10,189,000         
          loss on remeasurement of earnout liability
        		             -13,000 -43,000 -2,587,000 -11,179,000 3,131,000 -7,413,000 4,031,000 18,770,000     
          net (investment) return of capital in subsidiary
        		                         
          proceeds from recapitalization and pipe financing
        		                         
          distribution to stockholders
        		                         
          transaction costs - recapitalization
        		                         
          proceeds from debt issuance, net of fees
        		                 0        
          repurchases of stock
        		                         
          deferred income tax benefit
        		                  0       
          loss on sale and impairment of long-lived assets
        		               99,000 70,000  76,000 58,000 68,000     
          net cash (used) provided by financing activities
        		               -1,616,000 -389,000         
          contingent consideration - business combination
        		                    -1,663,000     
          non-refundable deposit for acquisition
        		                -4,950,000         
          settlement of contingent consideration related to a business acquisition
        		                         
          investment in subsidiary
        		                         
          proceeds from exercises of stock options and legacy porch warrants
        		                         
          loss on remeasurement of debt
        		                         
          gain on divestiture of businesses
        		                         
          loss on remeasurement of warrants
        		                  -2,691,000 4,302,000 15,910,000     
          amortization of premium/accretion of discount
        		                  287,000       
          proceeds from issuance of redeemable convertible preferred stock, net of fees
        		                         
          deferred offering costs
        		                         
          loss on extinguishment of debt
        		                         
          loss on divestiture of businesses
        		                         
          settlement of contingent consideration related to a business combination
        		                    -400,000     
          change in cash, cash equivalents, and restricted cash
        		                   -80,960,000 25,930,000     
          warrants issued for services
        		                         
          deferred taxes
        		                         
          divestiture of businesses, net of cash disposed
        		                         
          proceeds from exercises of stock options and warrants
        		                         
          adjustments to reconcile net income to net cash from operating activities:
        		                         
          gain on investments, dividends and interest, held in the trust account
        		                        -945,960 
          changes in operating assets and liabilities:
        		                         
          prepaid expenses
        		                      30,798 -147,609 7,199 
          accrued expenses
        		                      2,849,250 0 -26,711 
          franchise tax payable
        		                      33,123 16,247 -33,836 
          income tax payable
        		                      0 -220,674 188,151 
          interest released from trust account to pay taxes
        		                         
          proceeds from sale of class b common stock to sponsor
        		                         
          net decrease in cash
        		                      -159,873 -164,886 -181,148 
          cash - beginning of the period
        		                      0 0 1,412,901 
          cash - end of the period
        		                      -159,873 -164,886 1,231,753 
          supplemental disclosure of noncash activities:
        		                         
          deferred offering costs included in accrued offering costs and accounts payable
        		                         
          offering costs paid directly by sponsor
        		                         
          change in value of common stock subject to possible redemption
        		                      -3,139,570 -180,060 545,730 
          ●
        		                         
          gain on investments (net), dividends and interest, held in the trust account
        		                         
          interest released from trust account to pay franchise and income taxes
        		                         
          interest released from trust account to pay franchise taxes
        		                        84,434 
          investment income from investments held in trust account
        		                         
          cash deposited in trust account
        		                         
          proceeds from note payable to related party
        		                         
          repayment of note payable to related party
        		                         
          proceeds received from initial public offering, gross
        		                         
          proceeds received from sale of private placement warrants
        		                         
          offering costs paid
        		                         
          net increase in cash
        		                         
          supplemental disclosure of noncash investing and financing activities:
        		                         
          deferred underwriting commissions associated with the initial public offering
        		                         
          offering cost included note payable to related party
        		                         
          offering cost included in accounts payable
        		                         
          offering cost included in accrued expenses
        		                         
          value of common stock subject to possible redemption