Root Q1 loss ratio improves to 69%; net loss narrows 47% YoY

Root, Inc.

2023-Q1 EPS reported -$2.88 revenue$70,100,000

Gross premiums written $135M (-28% YoY); gross earned $130M (-26% YoY).
Gross accident period loss ratio improved 13 pts to 69% via pricing and segmentation.
Net loss improved 47% ($37M reduction); adjusted EBITDA up 78% ($41M reduction).
New writings grew 25% QoQ; renewal premium 79% of gross premiums earned.
Ended Q1 with $524M unencumbered capital; announced third embedded partnership.

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 quarter ended March 31, 2023.

Period: quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 3, 2023, Root, Inc. (the "Company") announced its financial results for the quarter ended March 31, 2023 by issuing a letter to Shareholders (the "Letter").

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Root, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-015207

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