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  "documentTitle": "Porch Group Inc (PRCH)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-04-08 00:00:00",
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  "notes": "The slide uses a 'before-after' or 'side-by-side' comparison of two different investor presentation slides to expose a contradiction in Porch's financial reporting.",
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      "kind": "callout",
      "text": "Porch points investors to focus heavily on Gross Profit (Margin) as a key metric and valuation benchmark. As a result, Spruce Point has carefully scrutinized this metric and finds irrefutable evidence to suggest Porch is inflating Gross Profit (Margin).",
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      "text": "Red boxes highlight the specific Gross Profit metrics being questioned.",
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      "text": "Porch Focuses Investors Heavily On Gross Profit",
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