Root, Inc. reports Q1 2022: GWP -8%, gross loss $(12)M, loss ratio improves to 81%

Root, Inc.

2022-Q1 EPS reported -$0.30 revenue$85,400,000

Gross written premium $187M, down 8% YoY; gross profit $(12)M, down $19M YoY.
Accident period loss ratio 81%, 12-point sequential improvement from Q4'21.
Non-loss/LAE expenses down 23% sequentially, 42% YoY; operating loss improved 25% vs Q1'21.
Carvana partnership drove 13% of new premium; fully embedded V2 rollout expected Q2'22.
New CFO Rob Bateman appointed; capital position $736M after BlackRock term loan.

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.