Earnings ·
Root, Inc. reported financial results for the quarter ended June 30, 2026, announcing net income of $25 million, a 15%…
ROOTRoot, Inc.
Root, Inc. reported financial results for the quarter ended June 30, 2026, announcing net income of $25 million, a 15% year-over-year increase, and adjusted EBITDA of $44 million, up 16%. Revenue reached $389 million, rising 2%, while gross written premium declined 2% to $340 million. The company ended the quarter with 484 thousand policies in force, a 6% year-over-year increase, and achieved a net combined ratio of 92.1%. Root refinanced its existing $200 million debt into a new term loan facility led by The Huntington National Bank and repurchased more than $20 million of shares under its authorization. Additionally, the company launched in New Jersey, expanding to 37 states, and announced a partnership with insurance shopping platform Jerry. Root, Inc. operates as an insurtech company providing personalized auto insurance through data science and telematics.