XML 64 R50.htm IDEA: XBRL DOCUMENT
v3.22.4

Description of Business and Summary of Significant Accounting Policies - Description of Business, Merger (Details) $ / shares in Units, $ in Thousands |  |  | 12 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | --- | ---
Dec. 23, 2020 $ / shares shares | Jul. 30, 2020 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2022 USD ($) item shares | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($)
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Number of Companies, Service Provided | item |  |  |  |  | 30,900 |  |  |
Transaction costs - recapitalization |  |  | $ 262 | $ 5,652 |  |  |  |
Earn out shares issued | shares |  | 150,000 |  |  |  |  |  |
Cash and cash equivalents |  |  | $ 315,741 |  | $ 215,060 | $ 260,198 | $ 271,003 | $ 292,373
Payment of capital distribution |  | $ 50,400 |  |  |  |  |  |
Class of warrant or right, outstanding | shares |  |  | 1,795,700 | 14,325,000 | 1,795,700 |  |  |
Private warrant liability, at fair value |  |  | $ 15,193 |  | $ 707 | $ 802 | $ 926 | $ 5,004
Contributed capital |  | $ 239,700 |  |  |  |  |  |
CEO |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Unvested restricted stock units | shares |  | 1,000,000 |  |  |  |  |  |
Additional Offering, PIPE Investors |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Shares issued (shares) | shares |  | 15,000,000 |  |  |  |  |  |
Shares issued Price (Per share) | $ / shares |  | $ 10.00 |  |  |  |  |  |
Net proceeds |  | $ 141,800 |  |  |  |  |  |
Direct offering costs |  | 8,200 |  |  |  |  |  |
Private Warrants |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Private warrant liability, at fair value |  | 34,000 |  |  |  |  |  |
Merger Agreement |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Shares issued value in merger |  | $ 30,000 |  |  |  |  |  |
Shares issued shares in merger | shares |  | 83,559,663 |  |  |  |  |  |
Transaction costs - recapitalization |  | $ 5,600 |  |  |  |  |  |
Earn out shares issued | shares |  | 5,000,000 |  |  |  |  |  |
Merger transaction cost |  | $ 30,800 |  |  |  |  |  |
Additional share issued | shares |  | 1,580,000 |  |  |  |  |  |
Fair value of additional share issued |  | $ 23,300 |  |  |  |  |  |
Fair value of earn out shares |  | 1,900 |  |  |  |  |  |
Eligibility amount |  | 27,000 |  |  |  |  |  |
Recognized expenses |  | 3,800 |  |  |  |  |  |
Share price | $ / shares | $ 11.50 |  |  |  |  |  |  |
Expiring period after merger for determining share price | 5 years |  |  |  |  |  |  |
Merger Agreement | Common stock warrants |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Class of warrant or right, outstanding | shares | 14,235,000 |  |  |  |  |  |  |
Merger Agreement | Private Warrants |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Class of warrant or right, outstanding | shares | 5,700,000 |  |  |  |  |  |  |
Merger Agreement | Public and private warrants |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Class of warrant or right, outstanding | shares | 8,625,000 |  |  |  |  |  |  |
Minimum |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Number of insurance and warranty policies in force. | item |  |  |  |  | 390,000 |  |  |
Number of Insurance Companies Served | item |  |  |  |  | 20 |  |  |
PropTech Acquisition Corporation |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Proceeds available for use |  | 305,100 |  |  |  |  |  |
Payment of capital distribution |  | 30,000 |  |  |  |  |  |
Net assets |  | $ 275,100 |  |  |  |  |  |
Additional share issued | shares |  | 150,000 |  |  |  |  |  |
PropTech Acquisition Corporation | Merger Agreement |  |  |  |  |  |  |  |
Common Stock and Redeemable Convertible Preferred Stock |  |  |  |  |  |  |  |
Shares issued (shares) | shares |  | 36,264,984 |  |  |  |  |  |

X
- Definition The amount of transaction cost under business combination eligible to be charged against equity because the costs were incurred pursuant to an issuance of equity as part of recapitalization. + References No definition available. + Details
Name: | prch_BusinessCombinationTransactionCostsEligibleToBeChargedAgainstEquity
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents expiring period after merger for determining share price for warrants to purchase common stock, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | prch_ClassOfWarrantOrRightExpiringPeriodAfterMergerForDeterminingSharePrice
Namespace Prefix: | prch_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value of shares issued in exchange of transaction service under business combination. + References No definition available. + Details
Name: | prch_FairValueOfStockIssuedInExchangeOfTransactionServicesInBusinessCombination
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of merger transaction cost incurred . + References No definition available. + Details
Name: | prch_MergerTransactionCost
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Number of companies for which software and services provided. + References No definition available. + Details
Name: | prch_NumberOfCompaniesServiceProvided
Namespace Prefix: | prch_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of insurance and warranty policies in force. + References No definition available. + Details
Name: | prch_NumberOfInsuranceAndWarrantyPoliciesInForce
Namespace Prefix: | prch_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of insurance companies the entity provide service as of the balance sheet date. + References No definition available. + Details
Name: | prch_NumberOfInsuranceCompaniesServed
Namespace Prefix: | prch_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The carrying amount of private warrant liabilities measured at fair value. + References No definition available. + Details
Name: | prch_PrivateWarrantLiabilities
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of proceeds available for future use. + References No definition available. + Details
Name: | prch_ProceedsAvailableForUse
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash inflow from recapitalization. + References No definition available. + Details
Name: | prch_ProceedsFromRecapitalization
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of transaction cost for recapitalization. + References No definition available. + Details
Name: | prch_RecapitalizationTransactionCosts
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of recognized as expenses. + References No definition available. + Details
Name: | prch_RecognizedExpensesOnMerger
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Number of earn out shares issued during the period in merger. + References No definition available. + Details
Name: | prch_StockIssuedDuringPeriodEarnOutSharesNewIssuesMerger
Namespace Prefix: | prch_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value of earn out shares issued as a result of transaction services under Merger. + References No definition available. + Details
Name: | prch_StockIssuedDuringPeriodFairValueOfEarnOutSharesIssuedInMerger
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Number of new stock issued during the period in merger. + References No definition available. + Details
Name: | prch_StockIssuedDuringPeriodSharesNewIssuesMerger
Namespace Prefix: | prch_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of shares issued in merger. + References No definition available. + Details
Name: | prch_StockIssuedDuringPeriodValueNewIssuesMerger
Namespace Prefix: | prch_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Number of shares issued in exchange of transaction service under business combination. + References No definition available. + Details
Name: | prch_StockIssuedInExchangeOfTransactionServicesInBusinessCombination
Namespace Prefix: | prch_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of net assets (liabilities). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=77885760&loc=SL35686385-199418 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 205 -Section 45 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=118262037&loc=d3e9915-115836 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 220 -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -URI https://asc.fasb.org/extlink&oid=120401555&loc=SL114874367-224272 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -URI https://asc.fasb.org/extlink&oid=120401414&loc=d3e604008-122996 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 220 -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(6)) -URI https://asc.fasb.org/extlink&oid=120401555&loc=SL114874367-224272 + Details
Name: | us-gaap_AssetsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3044-108585 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_CashAndCashEquivalentsAtCarryingValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
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_ClassOfStockLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of warrants or rights outstanding. + References No definition available. + Details
Name: | us-gaap_ClassOfWarrantOrRightOutstanding
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | instant

X
- Definition Cash outflow to owners or shareholders, excluding ordinary dividends. Includes special dividends. + 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 (a) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3291-108585 + Details
Name: | us-gaap_PaymentsOfCapitalDistribution
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash outflow for cost incurred directly with the issuance of an equity security. + 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 -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3291-108585 + Details
Name: | us-gaap_PaymentsOfStockIssuanceCosts
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Cash received on stock transaction after deduction of issuance costs. + References No definition available. + Details
Name: | us-gaap_SaleOfStockConsiderationReceivedOnTransaction
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Price of a single share of a number of saleable stocks of a company. + References No definition available. + Details
Name: | us-gaap_SharePrice
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Per share or per unit amount of equity securities issued. + References No definition available. + Details
Name: | us-gaap_SharesIssuedPricePerShare
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of new stock issued during the period. + 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(29)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 4: 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(28)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_StockIssuedDuringPeriodSharesNewIssues
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 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(28)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: 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(29)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
Namespace Prefix: | us-gaap_
Data Type: | xbrli:sharesItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_TitleOfIndividualAxis=srt_ChiefExecutiveOfficerMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SubsidiarySaleOfStockAxis=prch_AdditionalOfferingPipeInvestorsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ClassOfWarrantOrRightAxis=prch_PrivateWarrantsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TypeOfArrangementAxis=prch_MergerAgreementWithProptechAcquisitionCorporationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ClassOfWarrantOrRightAxis=prch_CommonStockWarrantsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ClassOfWarrantOrRightAxis=prch_PublicAndPrivateWarrantsMember
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: | dei_LegalEntityAxis=prch_ProptechAcquisitionCorporationMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |