Root Q4 gross loss ratio 77% (down from 94%); net loss improved 43% YoY; embedded new writings 41% of new writings

Root, Inc.

2022-FY EPS reported -$21.11 revenue$310,800,000

Q4 gross accident period loss ratio 77%, down from 94% in Q4 2021.
Net loss improved 43% YoY; adjusted EBITDA improved 58% YoY.
Fixed expenses reduced to $123M run rate from $197M in 2021, a 38% reduction.
Embedded new writings grew to 41% of new writings in Q4, up from 3% in Q4 2021.
Ended 2022 with $559M unencumbered capital; expect to significantly reduce operating capital consumption in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Root, Inc. reported financial results for FY 2022.

Period: FY 2022
Result: reported results

Exact text from the filing

announced its financial results for the fourth quarter and the full fiscal year ended December 31, 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Root, Inc. reported Q4 2022 results: revenue $143 million.

Period: Q4 2022
Revenue: $143 million
Result: reported results

Exact text from the filing

Gross premiums earned decreased 25% to $143 million

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Root, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-004555

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