← Root, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenues: | |||||||||
| Total operating expenses | $111.5m | $550.3m | $632.1m | $830.6m | $573.9m | $556.3m | $1.1b | $1.5b | |
| Operating income (loss) | — | ($260.1m) | ($285.3m) | ($485.2m) | ($263.1m) | ($101.3m) | $78.5m | $61.8m | |
| Net premiums earned | $40.2m | $275.3m | $322.5m | $310.3m | $285.9m | $399.9m | $1.1b | $1.4b | |
| Net investment income | $1.2m | $5.2m | $5.4m | $5.0m | $6.2m | $30.2m | $35.9m | $33.7m | |
| Fee income | — | $9.7m | $17.4m | $20.9m | $16.5m | $23.4m | $66.0m | $78.3m | |
| Other income | $1.9m | $9.7m | $18.6m | $6.8m | $1.7m | $1.5m | $3.7m | $3.4m | |
| Sales and marketing | $40.3m | $109.6m | $139.7m | $270.2m | $48.0m | $49.3m | $135.8m | $174.8m | |
| Technology and development | $8.2m | $24.0m | $52.9m | $65.5m | $55.5m | $44.8m | $53.3m | $53.1m | |
| General and administrative | $9.3m | $43.0m | $78.5m | $97.6m | $127.4m | $83.3m | $69.5m | $96.9m | |
| Loss on extinguishment of debt | — | $0 | $0 | ($15.9m) | $0 | $0 | ($5.4m) | $0 | |
| Changes in net unrealized gains on investments | $0 | $600k | $5.0m | ($5.2m) | ($6.2m) | $3.3m | $200k | $6.2m | |
| Comprehensive income (loss) | ($69.1m) | ($281.8m) | ($358.0m) | ($526.3m) | ($303.9m) | ($144.1m) | $31.1m | $46.5m | |
| Net income (loss) | ($69.1m) | ($282.4m) | ($363.0m) | ($521.1m) | ($297.7m) | ($147.4m) | $30.9m | $40.3m | |
| Net income attributable to participating securities | ($69.1m) | ($282.4m) | ($363.0m) | ($521.1m) | $0 | $0 | ($1.7m) | $2.0m | |
| Net income (loss) attributable to common shareholders | ($69.1m) | ($282.4m) | ($363.0m) | ($521.1m) | ($297.7m) | ($147.4m) | $29.2m | $38.3m | |
| Basic (in dollars per share) | ($2.73) | ($8.33) | ($4.81) | ($2.09) | ($21.11) | ($10.24) | $1.96 | $2.62 | |
| Diluted (in dollars per share) | ($2.73) | ($8.33) | ($4.81) | ($2.09) | ($21.11) | ($10.24) | $1.83 | $2.36 | |
| Loss and loss adjustment expenses | $43.5m | $321.4m | $362.8m | $392.3m | $351.0m | $331.3m | $733.0m | $924.2m | |
| Other insurance expense | $10.2m | $52.3m | ($1.8m) | $5.0m | ($8.0m) | $47.6m | $106.4m | $206.3m | |
| Interest expense | $900k | $22.3m | $77.7m | ($20.0m) | ($34.6m) | ($46.1m) | ($42.2m) | $21.0m | |
| Income (loss) before income tax expense | ($69.1m) | ($282.4m) | ($363.0m) | ($521.1m) | ($297.7m) | ($147.4m) | $30.9m | $40.8m | |
| Income tax expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $500k |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.