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Income Taxes | 6 Months Ended
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Jun. 30, 2026
Income Tax Disclosure [Abstract] |
Income Taxes | Note 15. Income Taxes Benefit or provision for income taxes for the three months ended June 30, 2026, and 2025, was a provision of $0.6 million and $1.1 million benefit, respectively, and the effective tax rates for these periods were (4.3)% and (15.2)%, respectively. Benefit or provision for income taxes for the six months ended June 30, 2026 and 2025, were $2.4 million provision and $0.2 million benefit, respectively, and the effective tax rates for these periods were (24.3)% and (1.6)%, respectively. The difference between our effective tax rates for the six months ended June 30, 2026 and 2025, and the U.S. statutory rate of 21% was attributable to the impact of a full valuation allowance on our net deferred tax assets. Our consolidated effective tax rate decreased for the both the three and six months ended June 30, 2026, compared to the same periods in the prior year primarily due to a change in the mix of income between the Reciprocal and Porch, which are treated as separate reporting entities for income tax accounting purposes, and the sale of Porch common shares by the Reciprocal (see Note 10). Our income tax provision for the six months ended June 30, 2025, includes deferred federal income tax expense of $0.9 million, which was recognized in conjunction with the formation of the Reciprocal and subsequent sale of HOA to the Reciprocal. The deferred tax expense associated with this event is driven by changes to our scheduled reversal of deferred tax liabilities and assets, which is a function of the underlying impact the event has on our Federal consolidated income tax filing group.

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