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$43.82+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss - Unaudited
| ROOT, INC. AND SUBSIDIARIES | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - UNAUDITED | ||
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| (in millions, except per share data) | ||
| Revenues: | ||
| Net premiums earned | $230.3 | $60.0 |
| Net investment income | 9.2 | 6.7 |
| Fee income | 14.7 | 3.2 |
| Other income | 0.7 | 0.2 |
| Total revenues | 254.9 | 70.1 |
| Operating expenses: | ||
| Loss and loss adjustment expenses | 166.4 | 63.3 |
| Sales and marketing | 30.4 | 3.6 |
| Other insurance expense | 24.6 | 1.3 |
| Technology and development | 11.0 | 10.2 |
| General and administrative | 17.1 | 21.5 |
| Total operating expenses | 249.5 | 99.9 |
| Operating income (loss) | 5.4 | (29.8) |
| Interest expense | (11.6) | (11.1) |
| Loss before income tax expense | (6.2) | (40.9) |
| Income tax expense | — | — |
| Net loss | (6.2) | (40.9) |
| Other comprehensive (loss) income: | ||
| Changes in net unrealized (losses) gains on investments | (0.8) | 1.1 |
| Comprehensive loss | $(7.0) | $(39.8) |
| Loss per common share: basic and diluted (both Class A and B) | $(0.42) | $(2.88) |
| Weighted-average common shares outstanding: basic and diluted (both Class A and B) | 14.6 | 14.2 |
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