Root Q4 net loss narrowed 59% to $24M; gross earned premiums up 50%

Root, Inc.

2023-FY EPS reported -$10.24 revenue$455,000,000

Q4 operating loss $12M (improved 74% YoY); adjusted EBITDA loss $0.3M (improved 99% YoY).
Gross premiums earned $214M (+50% YoY); policies-in-force 341,764 (+55% YoY).
Gross accident period loss ratio 66%, 11-point improvement; net combined ratio 112% (68-point improvement).
Full-year net loss $147M (-50% YoY); unencumbered capital $507M, cash consumption $52M vs $179M in 2022.
Management states scale achieved; could achieve near-term profitability if marketing spend reduced.

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 the fourth quarter and the full fiscal year ended December 31, 2023.

Period: the fourth quarter and the full fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 21, 2024, Root, Inc. (the "Company") announced its financial results for the fourth quarter and the full fiscal year ended December 31, 2023 by issuing a letter to Shareholders (the "Letter").

View on SEC.gov

379 earnings releases filed in the last 30 days. Browse all earnings releases →

Root, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-005899

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.