XML 67 R47.htm IDEA: XBRL DOCUMENT
v3.21.2

Debt - Runway Growth Credit Fund (Details) - USD ($) |  |  | 1 Months Ended | 3 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | --- | --- | ---
Dec. 23, 2020 | Jul. 23, 2020 | Jan. 31, 2021 | Jul. 31, 2020 | May 31, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2021 | Dec. 19, 2019
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Amount borrowed |  |  |  |  |  |  |  |  |  | $ 3,000,000
Variable interest rate |  | 1.00% |  |  |  |  |  |  |  |
Senior Secured Term Loans |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Amount borrowed |  |  |  | $ 47,000,000 |  |  |  |  |  |
Interest expenses |  |  |  | 749,000 |  |  |  |  |  |
Repayment of loan |  |  |  | 37,500,000 | $ 2,500 |  |  |  |  |
Debt Instrument, Final Payment Fees |  |  |  |  |  |  |  | $ 500,000 |  |
Senior Secured Term Loans | Three-month LIBOR |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Warrants term |  |  |  |  |  |  |  | 3 months |  |
Senior Secured Term Loans | Runway Growth Credit Fund, Inc. [Member] |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Amount borrowed |  |  |  | $ 40,000,000 |  |  |  |  |  |
Loan and Security Agreement , Runway Loan [Member] |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Interest expenses | $ 17,000 |  |  |  |  |  |  |  |  |
Repayment of loan | 7,057,000 |  |  |  |  |  |  |  |  |
Basis spread on interest rate |  |  | 8.00% | 9.05% |  |  | 8.50% |  |  |
Paid in kind interest rate |  |  | 2 | 2 |  |  |  |  |  |
Calculated interest rate |  |  |  | 11.05% |  | 11.05% | 11.05% |  | 8.55% |
Final payment fee | $ 391,000 |  |  |  |  |  |  |  |  |
Loan default |  |  | 5.00% | 5.00% |  |  |  |  |  |
Debt Instrument, Final Payment Fees |  |  | $ 1,750,000 | $ 1,645,000 |  |  |  |  |  |
Aggregate amount |  |  | $ 10,000,000 |  |  |  |  |  |  |
Final payment fee |  |  | 3.50% | 3.50% |  |  |  |  |  |
Financial covenants, Minimum cash level |  |  | $ 3,000,000 | $ 3,000,000 |  |  |  |  |  |
Financial covenants, Minimum revenue |  |  | $ 15,356,000 | $ 15,356,000 |  |  |  |  |  |
Financial covenants, projected revenue percentage |  |  | 70.00% |  |  | 80.00% |  |  |  |
Warrants grant date fair value |  |  |  |  |  | $ 1,216,000 | $ 1,216,000 |  |  |
Loan and Security Agreement , Runway Loan [Member] | Loans Repaid Prior To First Anniversary [Member] |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Repayment fees percentage |  |  | 2.00% | 2.00% |  |  |  |  |  |
Loan and Security Agreement , Runway Loan [Member] | Loans Repaid Prior to Second Anniversary [Member] |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Repayment fees percentage |  |  | 1.50% | 1.50% |  |  |  |  |  |
Loan and Security Agreement , Runway Loan [Member] | Loans Repaid Prior to Third Anniversary [Member] |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Repayment fees percentage |  |  | 1.00% | 1.00% |  |  |  |  |  |
Loan and Security Agreement , Runway Loan [Member] | Loans Repaid Prior to Fourth Anniversary [Member] |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Repayment fees percentage |  |  | 0.50% | 0.50% |  |  |  |  |  |
Loan and Security Agreement , Runway Loan [Member] | Three-month LIBOR |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |
Variable interest rate |  |  | 0.55% | 0.55% |  |  |  |  |  |

X
- Definition Weighted average grant date fair value of warrants. + References No definition available. + Details
Name: | prch_ClassOfWarrantOrRightGrantDateFairValue
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of debt final payment fees. + References No definition available. + Details
Name: | prch_DebtInstrumentFinalPaymentFees
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Final payment fee percentage. + References No definition available. + Details
Name: | prch_DebtInstrumentFinalPaymentFeesPercentage
Namespace Prefix: | prch_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Financial covenants requiring minimum cash level. + References No definition available. + Details
Name: | prch_DebtInstrumentFinancialCovenantsMinimumCashLevel
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Financial covenants requiring minimum revenue. + References No definition available. + Details
Name: | prch_DebtInstrumentFinancialCovenantsMinimumRevenue
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Financial covenants requiring projected revenue percentage for future quarters. + References No definition available. + Details
Name: | prch_DebtInstrumentFinancialCovenantsPercentageOfProjectedRevenue
Namespace Prefix: | prch_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Loan default interest rate percentage. + References No definition available. + Details
Name: | prch_DebtInstrumentLoanDefaultInterestRatePercentage
Namespace Prefix: | prch_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of prepayment fees. + References No definition available. + Details
Name: | prch_DebtInstrumentPrepaymentFees
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Repayment fees percentage. + References No definition available. + Details
Name: | prch_DebtInstrumentPrepaymentFeesPercentage
Namespace Prefix: | prch_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of paid in kind interest rate. + References No definition available. + Details
Name: | prch_PaidInKindInterestRate
Namespace Prefix: | prch_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The average effective interest rate during the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateDuringPeriod
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
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_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of the cost of borrowed funds accounted for as interest expense for debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
Name: | us-gaap_InterestExpenseDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3291-108585 + Details
Name: | us-gaap_RepaymentsOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

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_DebtInstrumentAxis=prch_SeniorSecuredTermLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LineOfCreditFacilityAxis=prch_RunwayGrowthCreditFundInc.Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=prch_LoanAndSecurityAgreementRunwayLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=prch_LoansRepaidPriorToFirstAnniversaryMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=prch_LoansRepaidPriorToSecondAnniversaryMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=prch_LoansRepaidPriorToThirdAnniversaryMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementScenarioAxis=prch_LoansRepaidPriorToFourthAnniversaryMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |