---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-019342"
form_type: "8-K"
ticker: "ROOT"
cik: "0001788882"
company_name: "Root, Inc."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:37:40.084007+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Root achieves first operating income of $5M in Q1 2024; policies up 101%

## Summary
- Gross combined ratio improved 23 pts YoY to 99.7%; net combined ratio improved 59 pts to 102%.
- Net loss improved 85% to $6M; positive adjusted EBITDA of $15M, up $26M YoY.
- Policies-in-force grew 101% to 401,255; gross premiums written up 146% to $331M.
- Direct channel new writings dipped late Q1 due to competition; partnership nearly doubled new writings YoY.
- Unencumbered capital $483M; expects ~$10.6M cash expense from equity vesting in Q2 2024.

## SEC filing metadata
- accession: 0001628280-24-019342
- form_type: 8-K
- ticker: ROOT
- cik: 0001788882
- company_name: Root, Inc.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1788882/000162828024019342/0001628280-24-019342-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1788882/000162828024019342/root-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-019342
- JSON: https://secwatch.observer/filing/0001628280-24-019342.json
- Plain text: https://secwatch.observer/filing/0001628280-24-019342.txt

## Key facts
- Earnings Releases
  Root, Inc. reported the quarter ended March 31, 2024 results: net income net loss of $6 million.
  - Period: the quarter ended March 31, 2024
  - Net income: net loss of $6 million
  - Result: reported results
  source text: On April 30, 2024, Root, Inc. (the "Company") announced its financial results for the quarter ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1788882/000162828024019342/0001628280-24-019342-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.