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  "documentTitle": "Porch Group Inc (PRCH)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2021-04-08 00:00:00",
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      "text": "iRoofing closed on December 31, got it in right at the end of the year there, and then V12 closed on January 12. The HOA deal was also announced on January 13. And you asked about PalmTech was October 20.",
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      "text": "In the third quarter of 2020, the Company completed two other acquisitions that are not material to the consolidated financial statements. The purpose of these acquisitions was to expand the scope and nature of the Company's service offerings, add additional team members with important skillsets, and realize synergies. The transaction costs associated with this acquisition were trivial. We expect $222 of acquired goodwill for one of the acquisitions to be deductible for income tax purposes. The goodwill associated with another acquisition is not expected to be deductible for income tax purposes.",
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      "text": "Additionally, in January 2021, the Company purchased a smaller home inspection company. This acquisition is not material to the Company's financial statements.",
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      "text": "Porch also announced two smaller and equally strategic acquisitions in PalmTech and iRoofing. Both acquisitions are consistent with Porch's strategy to go deeper into existing industries and expand its vertical software platform into new home service categories.",
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      "text": "Spruce Point finds more evidence that Porch withholds information from investors in an attempt to manage results and expectations.",
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      "text": "Spruce Point finds more evidence that Porch withholds information from investors in an attempt to manage results and expectations. On the recent earnings call, management admits that the Palm-Tech acquisition closed in October 2020. Yet, they didn't announce the deal until Jan 14, 2021. In the interim, Porch made numerous SEC filings which failed to disclose the acquisition. For what purpose is Porch withholding this information? Porch also claims in Q3 2020 it completed two immaterial acquisitions. Yet, Palm-Tech closed in October 2020 (Q4) and Americas Call Center in December 2020 (Q4). Lastly, Porch's 10-K recently disclosed it acquired a home inspection company. Is this a strategy shift and why wasn't it disclosed with the other four acquisitions in January?",
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      "text": "“Porch also announced two smaller and equally strategic acquisitions in PalmTech and iRoofing. Both acquisitions are consistent with Porch’s strategy to go deeper into existing industries and expand its vertical software platform into new home service categories.” — Press Release. “IRoofing closed on December 31, got it in right at the end of the year there, and then V12 closed on January 12. The HOA deal was also announced on January 13. And you asked about PalmTech was October 20.” — Porch's COO Q1 2021 Call. “In the third quarter of 2020, the Company completed two other acquisitions that are not material to the consolidated financial statements.” — 2020 10-K. “Additionally, in January 2021, the Company purchased a smaller home inspection company. This acquisition is not material to the Company’s financial statements.” — 2020 10-K.",
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      "text": "Porch's 10-K March 31, 2021",
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      "text": "Porch Announces Four Strategic Acquisitions Jan 14, 2021",
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      "text": "Porch's COO Q1 2021 Call March 30, 2021",
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