Root Inc
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 30, 2024
ROOT$43.52+0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets - Unaudited
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| ROOT, INC. AND SUBSIDIARIES | ||
|---|---|---|
| CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED | ||
| As of | ||
| March 31, | December 31, | |
| 2024 | 2023 | |
| (in millions, except par value) | ||
| Assets | ||
| Investments: | ||
| Fixed maturities available-for-sale, at fair value (amortized cost: $210.6 and $168.4 at March 31, 2024 and December 31, 2023, respectively) | $207.3 | $165.9 |
| Short-term investments (amortized cost: $8.7 and $0.9 at March 31, 2024 and December 31, 2023, respectively) | 8.7 | 0.9 |
| Other investments | 4.4 | 4.4 |
| Total investments | 220.4 | 171.2 |
| Cash and cash equivalents | 640.5 | 678.7 |
| Restricted cash | 1.0 | 1.0 |
| Premiums receivable, net of allowance of $5.2 and $4.0 at March 31, 2024 and December 31, 2023, respectively | 292.0 | 247.1 |
| Reinsurance recoverable and receivable, net of allowance of $1.8 at March 31, 2024 and December 31, 2023 | 147.1 | 125.3 |
| Prepaid reinsurance premiums | 50.2 | 48.2 |
| Other assets | 81.1 | 76.2 |
| Total assets | $1,432.3 | $1,347.7 |
| Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity | ||
| Liabilities: | ||
| Loss and loss adjustment expense reserves | $322.0 | $284.2 |
| Unearned premiums | 339.4 | 283.7 |
| Long-term debt and warrants | 299.3 | 299.0 |
| Reinsurance premiums payable | 54.1 | 54.4 |
| Accounts payable and accrued expenses | 40.9 | 65.6 |
| Other liabilities | 98.9 | 83.1 |
| Total liabilities | 1,154.6 | 1,070.0 |
| Commitments and Contingencies (Note 11) | ||
| Redeemable convertible preferred stock, $0.0001 par value, 100.0 shares authorized, 14.1 shares issued and outstanding at March 31, 2024 and December 31, 2023 (redemption value of $126.5) | 112.0 | 112.0 |
| Stockholders’ equity: | ||
| Class A common stock, $0.0001 par value, 1,000.0 shares authorized, 9.6 and 9.5 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively | — | — |
| Class B convertible common stock, $0.0001 par value, 269.0 shares authorized, 5.0 shares issued and outstanding at March 31, 2024 and December 31, 2023 | — | — |
| Additional paid-in capital | 1,890.4 | 1,883.4 |
| Accumulated other comprehensive loss | (3.3) | (2.5) |
| Accumulated loss | (1,721.4) | (1,715.2) |
| Total stockholders’ equity | 165.7 | 165.7 |
| Total liabilities, redeemable convertible preferred stock and stockholders’ equity | $1,432.3 | $1,347.7 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.