Root

Root’s Timm: Hitting profitability is vindicating, but “mission still isn’t done”

Root CEO Alex Timm said that reaching net income profitability is “validating” for the firm and the potential for other insurtechs but that the mentality inside the company is that “the mission still isn’t done”.

Root stock price spikes 153% to $102.40 after Q3 results

Shares in Root surged by 153 percent when markets opened on Thursday, hovering at $102.40 per share around midday in a bullish reaction by investors after the insurtech posted its first quarter of net profitability in Q3.

Root shares surge ~70% in after hours trading after first net income profitable quarter

Shares in Root surged by nearly 70 percent in after-hours trading after the Ohio-based auto insurtech reported its first quarter of net income profitability and is on track to be profitable on a net income basis for the full-year in 2024.

Hippo shares up 28% while Root’s drop 20% as investors digest Q2 results

Homeowners-focused insurtech Hippo’s shares surged by nearly 28 percent on Thursday as investors reacted to it narrowing its Q2 adjusted Ebitda loss to $25mn, while shares in auto insurtech Root fell by 20 percent despite reporting another operating profit.

Root posts second straight quarter of operating profitability with $12mn in adj Ebitda

Root has delivered a second quarter of operating profitability, reporting $12mn in adjusted Ebitda and $4mn in operating income supported by an 18 point combined ratio improvement.

Root shares soar 20%+ as CEO Timm lauds “excellent” Q1 and analysts raise targets

Shares in Root were up over 20 percent on Wednesday morning after the insurtech reported its first ever operating profit, while management expressed confidence about continued growth and equity analysts increased their price targets following the exit of a turnaround phase.

Root posts $15mn adjusted operating profit for Q1 in major milestone

Root posted its first ever operating profit as it generated $15mn in adjusted Ebitda in the first quarter, with its gross combined ratio improving by 23 points to 99.7 percent and policies in force doubling compared with a year ago to 401,255.

Root stock down 38% from recent peak, Hippo off by around 18%

Shares in Root have traded down around 38 percent from their peak following the February release of its fourth quarter earnings, while shares in Hippo have slid by 18 percent.

Root stock price climbs almost 10% as insurtech approaches $1bn market cap

Root’s stock price spiked by more than 10 percent on Wednesday to $68.11 per share, before falling back slightly as the insurtech’s market cap nears around $1bn and its share price has seen more than a ninefold increase since reporting fourth quarter results in February.

Root CEO Timm: Tech advantage becoming clear with strong results in recent quarters

Root CEO Alex Timm has said the insurtech appreciates the recent recognition it has received for its performance among investors, and argued that the auto specialist’s technology advantage is starting to become more evident as it outperforms the industry.

Former Root CMO Silver sentenced to 4+ years in prison for embezzling $10.2mn from insurtech

Root’s former chief marketing officer BC Silver has been sentenced to more than four years in prison for embezzling $10.2mn from the insurtech.

Root and Hippo shares continue to soar as latest loss data confirms path to profitability

Shares in listed insurtech companies have been particularly sensitive to loss trend data since late February, underscoring investors’ increasing focus on profitability over growth.

Listed insurtech share price performance remains mixed despite Root frenzy

Shares in Root and Hippo skyrocketed last week but the recent insurtech enthusiasm has not been universal, with other players experiencing a muted share price performance in the year to date.

Root share price closes up 22% as post-earnings surge continues

The share price of Root has now increased more than fourfold since the insurtech released its fourth quarter results on 21 February, including a 20 percent increase on Friday after analysts at Jefferies analysts upgraded the stock to “buy”.

Root share price up 34% as insurtech’s stock maintains upwards momentum

Root’s share price has maintained its sudden surge upwards after the auto insurtech’s stock increased 34.2 percent during Monday trading.

Root stock ends week up 87% after “best ever” Q4 results

Root ended the week with its share price having soared almost 87 percent as investors responded positively to the auto specialist’s Q4 2023 results which the firm’s CEO Alex Timm described as its “best ever”.

Root CEO Timm: “We have even more conviction in our business” after latest results

Root CEO Alex Timm said after posting among the best personal auto loss ratios in the industry for the last three quarters, the insurtech’s management team feels “vindicated” and has increased “conviction” in its business, while competition in the segment has returned.

Root CEO Timm calls “transformation” over last two years “remarkable”

Root CEO Alex Timm once again called his firm’s latest set of results “its best ever” as on an analyst call he highlighted the “remarkable” progress made over the last two years following a personal auto “crisis”.

Root narrows Q4 operating loss to $12mn and sheds 68pp from CR to 112%

Root narrowed its fourth quarter operating loss to $12mn, from $48mn in Q4 2022, as it also shed 68 percentage points from its net combined ratio to 112 percent and grew policies-in-force compared with a year ago by 55 percent to 341,764.

Root hands CTO Bonakdarpour additional president title

Auto insurtech Root has promoted Matt Bonakdarpour to president, a role he will assume alongside his existing responsibilities as the firm’s chief technology officer.

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