Quarterly ResultAug 5, 2026, 04:14 PM
Root Q2 Revenue $389M, Net Income $25M; Adjusted EBITDA $44M
AI Summary
Root, Inc. announced strong financial results for Q2 2026, with net income increasing 15% to $25 million and revenue up 2% to $389 million. Adjusted EBITDA also saw a significant rise of 16% to $44 million, reflecting continued profitability and underwriting discipline. The company also refinanced its $200 million debt and repurchased over $20 million in shares, while strategically expanding its market presence and partnerships.
Key Highlights
- Net income increased 15% year-over-year to $25 million.
- Revenue reached $389 million, up 2% year-over-year.
- Adjusted EBITDA was $44 million, a 16% increase year-over-year.
- Policies in force grew 6% year-over-year to 484 thousand.
- Refinanced $200 million debt into a new term loan facility.
- Repurchased over $20 million of shares under a $75 million authorization.
- Launched in New Jersey, expanding presence to 37 states.
- Announced partnership with Jerry, an insurance shopping platform.
Price Impact
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