Root Inc

For the period ended Jun 30, 2024. Filed Aug 7, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 7, 2024

ROOT$43.82+0.7%Stored close · as of Nov 10, 2026

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Contents

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 June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
(in millions, except per share data)
Revenues:
Net premiums earned	$261.6	$63.9	$491.9	$123.9
Net investment income	10.0	6.8	19.2	13.5
Fee income	16.6	3.8	31.3	7.0
Other income	1.0	0.3	1.7	0.5
Total revenues	289.2	74.8	544.1	144.9
Operating expenses:
Loss and loss adjustment expenses	190.3	59.5	356.7	122.8
Sales and marketing	34.2	6.1	64.6	9.7
Other insurance expense	28.1	2.6	52.7	3.9
Technology and development	14.7	11.1	25.7	21.3
General and administrative	18.1	20.7	35.2	42.2
Total operating expenses	285.4	100.0	534.9	199.9
Operating income (loss)	3.8	(25.2)	9.2	(55.0)
Interest expense	(11.6)	(11.5)	(23.2)	(22.6)
Loss before income tax expense	(7.8)	(36.7)	(14.0)	(77.6)
Income tax expense	—	—	—	—
Net loss	(7.8)	(36.7)	(14.0)	(77.6)
Other comprehensive loss:
Changes in net unrealized losses on investments	(0.1)	(1.2)	(0.9)	(0.1)
Comprehensive loss	$(7.9)	$(37.9)	$(14.9)	$(77.7)
Loss per common share: basic and diluted (both Class A and B)	$(0.52)	$(2.55)	$(0.95)	$(5.43)
Weighted-average common shares outstanding: basic and diluted (both Class A and B)	14.9	14.4	14.8	14.3

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.