earnings
confidence high
sentiment positive
materiality 0.75
Root Q2 net income $25M (+15% YoY), revenue $389M, policies up 6% to 484K
Root, Inc.
- Net income $25M (+15% YoY); adjusted EBITDA $44M (+16% YoY).
- Revenue $389M (+2% YoY); gross written premium $340M (-2% YoY).
- Policies in force 484K (+6% YoY); net combined ratio 92.1%.
- Repurchased >$20M shares under $75M authorization; refinanced $200M debt.
- Launched in New Jersey; partnership with Jerry; next-gen pricing model expected Q4.