XML 61 R41.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value - Additional Information (Details) $ in Thousands | Mar. 31, 2021 USD ($) $ / shares | Jan. 31, 2021 USD ($) | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2020 $ / shares | Dec. 31, 2020 USD ($) | Dec. 31, 2019
--- | --- | --- | --- | --- | --- | --- | ---
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration | $ 1,596 |  |  |  |  |  |
Settlement of contingent consideration related to a business combination |  | $ 2,063 |  |  |  |  |
Discount rate |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 6.7 |  |  | 9.0 |  |  |
Discount rate | Minimum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 25.7 |  |  | 9.96 |  |  | 15.26
Discount rate | Maximum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 31.5 |  |  | 9.98 |  |  | 16.26
Revenue volatility |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input |  |  |  | 18.00 |  |  | 19.00
Cost of capital | Minimum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 25.7 |  |  |  |  |  |
Cost of capital | Maximum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 32.5 |  |  |  |  |  |
Cost of capital | Weighted Average |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input |  |  |  | 21.50 |  |  | 29.50
Current stock price |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | $ / shares | 17.70 |  |  |  | 14.27 |  |
Current stock price | Private warrant liability |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Warrants, measurement input | 17.70 |  |  | 14.27 |  |  |
Strike price |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | $ / shares | 20.00 |  |  |  | 20.00 |  |
Exercise Price | Private warrant liability |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Warrants, measurement input | 11.50 |  |  | 11.50 |  |  |
Volatility |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 80.0 |  |  | 60.0 |  |  |
Volatility | Minimum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 38.1 |  |  |  |  |  |
Volatility | Maximum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration, measurement input | 68.5 |  |  |  |  |  |
Volatility | Private warrant liability |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Warrants, measurement input | 35 |  |  | 35 |  |  |
Expected term | Private warrant liability |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Warrants term | 4 years 8 months 23 days |  | 4 years 11 months 23 days |  |  |  |
Income approach |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration |  |  |  |  |  | $ 1,800 |
Monte Carlo simulation method |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Business combination contingent consideration | $ 1,273 |  |  |  |  | $ 1,749 |
Monte Carlo simulation method | Current stock price |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Contingent consideration earnout, measurement input | 17.70 |  |  | 14.27 |  |  |
Monte Carlo simulation method | Exercise Price | Minimum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Contingent consideration earnout, measurement input | 20 |  |  | 18 | 18 |  |
Monte Carlo simulation method | Exercise Price | Maximum |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Contingent consideration earnout, measurement input | 22 |  |  | 20 | 20 |  |
Monte Carlo simulation method | Exercise Price | Weighted Average |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Contingent consideration earnout, measurement input |  |  |  | 22 | 22 |  |
Monte Carlo simulation method | Volatility |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Contingent consideration earnout, measurement input | 75 |  |  | 60 |  |  |
Monte Carlo simulation method | Forfeiture Rate |  |  |  |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |  |  |  |  |  |  |
Contingent consideration earnout, measurement input | 16 |  |  | 16 |  |  |

X
- Definition Amount of cash payments on business combination consideration. + References No definition available. + Details
Name: | prch_BusinessCombinationContingentConsiderationSettledAmount
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Value of input used to measure contingent consideration earnout liability . + References No definition available. + Details
Name: | prch_ContingentConsiderationEarnoutMeasurementInput
Namespace Prefix: | prch_
Data Type: | xbrli:decimalItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of liability recognized arising from contingent consideration in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120321790&loc=d3e6927-128479 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 35 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116859824&loc=d3e6819-128478 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 25 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6911189&loc=d3e6408-128476 + Details
Name: | us-gaap_BusinessCombinationContingentConsiderationLiability
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Value of input used to measure contingent consideration liability from business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_BusinessCombinationContingentConsiderationLiabilityMeasurementInput
Namespace Prefix: | us-gaap_
Data Type: | xbrli:decimalItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Value of input used to measure outstanding warrant and right embodying unconditional obligation requiring redemption by transferring asset at specified or determinable date or upon event certain to occur. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_WarrantsAndRightsOutstandingMeasurementInput
Namespace Prefix: | us-gaap_
Data Type: | xbrli:decimalItemType
Balance Type: | na
Period Type: | instant

X
- Definition Period between issuance and expiration of outstanding warrant and right embodying unconditional obligation requiring redemption by transferring asset at specified or determinable date or upon event certain to occur, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_WarrantsAndRightsOutstandingTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputDiscountRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=prch_MeasurementInputRevenueVolatilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=prch_MeasurementInputCostOfCapitalMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_WeightedAverageMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputSharePriceMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=prch_PrivateWarrantLiabilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=prch_MeasurementInputStrikePriceMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputExercisePriceMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputPriceVolatilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputExpectedTermMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=us-gaap_IncomeApproachValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=prch_MonteCarloSimulationMethodValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=prch_MeasurementInputForfeitureRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |