← Root, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Short-term investments (amortized cost: zero and $14.8 at December 31, 2025 and December 31, 2024, respectively) | $3.5m | $3.0m | $0 | $400k | $900k | $14.8m | $0 | |
| Cash and cash equivalents | $391.7m | $1.1b | $706.0m | $762.1m | $678.7m | $599.3m | $669.3m | |
| Restricted cash and cash equivalents | — | — | — | — | — | $1.0m | $20.6m | |
| Premiums receivable, net of allowance of $8.9 and $9.8 at December 31, 2025 and December 31, 2024, respectively | $122.7m | $130.1m | $148.1m | $111.9m | $247.1m | $305.3m | $332.8m | |
| Reinsurance recoverable and receivable, net of allowance of $0.1 at December 31, 2025 and December 31, 2024 | $25.3m | $124.8m | $155.0m | $148.8m | $125.3m | $150.6m | $129.8m | |
| Prepaid reinsurance premiums | $17.4m | $112.8m | $100.8m | $74.2m | $48.2m | $25.1m | $6.3m | |
| Other assets | $23.8m | $56.3m | $73.8m | $81.7m | $76.2m | $103.2m | $124.3m | |
| Fixed maturities available-for-sale, at fair value (amortized cost: $383.1 and $294.3 at December 31, 2025 and December 31, 2024, respectively) | $119.3m | $221.0m | $129.9m | $128.4m | $165.9m | $292.0m | $387.0m | |
| Other investments | $0 | $500k | $4.7m | $4.4m | $4.4m | $4.4m | $4.4m | |
| Loss and loss adjustment expense reserves | $140.7m | $237.2m | $320.2m | $287.4m | $284.2m | $413.2m | $483.6m | |
| Unearned premiums | $145.4m | $157.1m | $180.1m | $136.5m | $283.7m | $353.9m | $393.7m | |
| Reinsurance premiums payable | $25.7m | $89.1m | $101.6m | $119.8m | $54.4m | $32.8m | $2.4m | |
| Other liabilities | $8.4m | $10.3m | $39.9m | $45.0m | $83.1m | $108.9m | $124.0m | |
| Accumulated loss | ($385.0m) | ($748.0m) | ($1.3b) | ($1.6b) | ($1.7b) | ($1.7b) | ($1.6b) | |
| Total investments | $122.8m | $224.5m | $134.6m | $133.2m | $171.2m | $311.2m | $391.4m | |
| Total stockholders’ equity | ($374.0m) | $1.0b | $536.4m | $277.1m | $165.7m | $203.7m | $284.3m | |
| Total assets | $728.6m | $1.8b | $1.3b | $1.3b | $1.3b | $1.5b | $1.7b | |
| Accounts payable and accrued expenses | $29.8m | $48.0m | $29.1m | $39.7m | $65.6m | $71.1m | $74.2m | |
| Long-term debt | $192.2m | $188.2m | $0 | $295.4m | $299.0m | $200.1m | $200.3m | |
| Total liabilities | $542.2m | $729.9m | $670.9m | $923.8m | $1.1b | $1.2b | $1.3b | |
| Redeemable convertible preferred stock, $0.0001 par value, 14.1 shares issued and outstanding at December 31, 2025 and December 31, 2024 (redemption value of $126.5) (Note 11) | 560.4m | 0 | 112.0m | 112.0m | 112.0m | 112.0m | 112.0m | |
| Common stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Additional paid-in capital | $10.5m | $1.8b | $1.8b | $1.9b | $1.9b | $1.9b | $1.9b | |
| Accumulated other comprehensive income (loss) | $600k | $5.6m | $400k | ($5.8m) | ($2.5m) | ($2.3m) | $3.9m | |
| Total liabilities, redeemable convertible preferred stock and stockholders’ equity | $728.6m | $1.8b | $1.3b | $1.3b | $1.3b | $1.5b | $1.7b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.