ROOT Stock Income Statements
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Quarterly Income Statements
Quarterly
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Annual
Unit: USD | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues: | |||||||||||||||
net premiums earned | 230,300,000 | 176,000,000 | 100,000,000 | 63,900,000 | 60,000,000 | 64,300,000 | 68,600,000 | 74,700,000 | 78,300,000 | 84,900,000 | 85,100,000 | 81,200,000 | 59,100,000 | 44,100,000 | 44,900,000 |
net investment income | 9,200,000 | 7,700,000 | 9,000,000 | 6,800,000 | 6,700,000 | 4,000,000 | 900,000 | 700,000 | 600,000 | 2,400,000 | 1,000,000 | 700,000 | 900,000 | 1,100,000 | 1,100,000 |
fee income | 14,700,000 | 10,200,000 | 6,200,000 | 3,800,000 | 3,200,000 | 13,000,000 | 4,400,000 | ||||||||
other income | 700,000 | 900,000 | 100,000 | 300,000 | 200,000 | ||||||||||
total revenues | 254,900,000 | 194,800,000 | 115,300,000 | 74,800,000 | 70,100,000 | 71,300,000 | 73,700,000 | 80,400,000 | 85,400,000 | 93,200,000 | 93,800,000 | 89,800,000 | |||
yoy | 263.62% | 173.21% | 56.45% | -6.97% | -17.92% | -23.50% | -21.43% | -10.47% | |||||||
qoq | 30.85% | 68.95% | 54.14% | 6.70% | -1.68% | -3.26% | -8.33% | -5.85% | -8.37% | -0.64% | 4.45% | ||||
operating expenses: | |||||||||||||||
loss and loss adjustment expenses | 166,400,000 | 122,700,000 | 85,800,000 | 59,500,000 | 63,300,000 | 77,700,000 | 80,900,000 | 95,700,000 | 96,700,000 | 107,800,000 | 114,400,000 | 110,200,000 | 59,900,000 | 59,500,000 | 76,100,000 |
sales and marketing | 30,400,000 | 26,500,000 | 13,100,000 | 6,100,000 | 3,600,000 | 2,200,000 | 5,700,000 | 25,400,000 | 14,700,000 | 24,700,000 | 65,400,000 | 111,700,000 | 68,400,000 | 49,600,000 | 36,900,000 |
other insurance expense | 24,600,000 | 1,300,000 | 1,000,000 | 2,400,000 | |||||||||||
technology and development | 11,000,000 | 12,400,000 | 11,100,000 | 11,100,000 | 10,200,000 | 9,400,000 | 14,300,000 | 17,900,000 | 13,900,000 | 16,200,000 | 18,000,000 | 17,500,000 | 13,800,000 | 12,700,000 | 12,900,000 |
general and administrative | 17,100,000 | 20,100,000 | 21,000,000 | 20,700,000 | 21,500,000 | 41,100,000 | 26,400,000 | 29,900,000 | 30,000,000 | 27,800,000 | 27,400,000 | 24,000,000 | 18,400,000 | 19,700,000 | 16,600,000 |
total operating expenses | 249,500,000 | 207,100,000 | 149,300,000 | 100,000,000 | 99,900,000 | 128,100,000 | 128,400,000 | 161,100,000 | 156,300,000 | 185,100,000 | 220,700,000 | 261,900,000 | 162,900,000 | 139,400,000 | 116,200,000 |
operating income | 5,400,000 | -12,300,000 | -34,000,000 | -25,200,000 | -29,800,000 | -56,800,000 | -54,700,000 | -80,700,000 | -70,900,000 | -91,900,000 | -126,900,000 | -172,100,000 | -94,300,000 | ||
yoy | -118.12% | -78.35% | -37.84% | -68.77% | -57.97% | -38.19% | -56.90% | -53.11% | -24.81% | ||||||
qoq | -143.90% | -63.82% | 34.92% | -15.44% | -47.54% | 3.84% | -32.22% | 13.82% | -22.85% | -27.58% | -26.26% | 82.50% | |||
interest expense | -11,600,000 | -11,700,000 | -11,800,000 | -11,500,000 | -11,100,000 | -10,600,000 | -9,300,000 | -9,200,000 | -5,500,000 | -2,100,000 | -6,100,000 | -6,500,000 | -5,300,000 | 44,800,000 | 19,500,000 |
income before income tax expense | -6,200,000 | -24,000,000 | -45,800,000 | -36,700,000 | -40,900,000 | -67,400,000 | -64,000,000 | -89,900,000 | -76,400,000 | -109,900,000 | -133,000,000 | -178,600,000 | -99,600,000 | -133,300,000 | -85,200,000 |
income tax expense | |||||||||||||||
net income | -6,200,000 | -24,000,000 | -45,800,000 | -36,700,000 | -40,900,000 | -67,400,000 | -64,000,000 | -89,900,000 | -76,400,000 | -109,900,000 | -133,000,000 | -178,600,000 | -99,600,000 | -133,300,000 | -85,200,000 |
yoy | -84.84% | -64.39% | -28.44% | -59.18% | -46.47% | -38.67% | -51.88% | -49.66% | -23.29% | -17.55% | 56.10% | ||||
qoq | -74.17% | -47.60% | 24.80% | -10.27% | -39.32% | 5.31% | -28.81% | 17.67% | -30.48% | -17.37% | -25.53% | 79.32% | -25.28% | 56.46% | |
other comprehensive income: | |||||||||||||||
changes in net unrealized gains on investments | -800,000 | 1,100,000 | -1,200,000 | -500,000 | |||||||||||
comprehensive loss | -7,000,000 | -19,900,000 | -46,500,000 | -37,900,000 | -39,800,000 | -66,300,000 | -66,300,000 | -91,200,000 | -80,100,000 | -111,100,000 | -133,500,000 | -178,600,000 | -103,100,000 | -133,300,000 | -85,100,000 |
loss per common share: basic and diluted | -420,000 | -1,670,000 | -3,160,000 | -2,550,000 | -2,880,000 | -4,660,000 | -4,540,000 | -360,000 | -300,000 | -440,000 | -530,000 | -720,000 | -400,000 | 1,130,000 | -2,200,000 |
weighted-average common shares outstanding: basic and diluted | 14,600,000 | 14,400,000 | 14,500,000 | 14,400,000 | 14,200,000 | 14,100,000 | 14,100,000 | 253,000,000 | 251,700,000 | 249,200,000 | 250,200,000 | 248,900,000 | 247,100,000 | 75,500,000 | 38,800,000 |
net realized gains on investments | -600,000 | -100,000 | 1,200,000 | 2,400,000 | 100,000 | 100,000 | |||||||||
other insurance benefit | 25,400,000 | 18,300,000 | 2,600,000 | -5,700,000 | 1,100,000 | ||||||||||
other comprehensive loss: | |||||||||||||||
changes in net unrealized losses on investments | -800,000 | -700,000 | -1,200,000 | -7,300,000 | -2,300,000 | -1,300,000 | -3,700,000 | -3,500,000 | |||||||
fee and other income | 14,600,000 | 4,200,000 | 5,100,000 | 5,300,000 | 21,800,000 | 7,700,000 | 7,900,000 | 6,200,000 | |||||||
other insurance (benefit) expense | -7,800,000 | -3,600,000 | -4,500,000 | -1,500,000 | -2,100,000 | -26,300,000 | |||||||||
revenue: |