Root swings to $14 million Q3 profit as revenue falls to $381 million
Root reported third-quarter 2026 results, with revenue of $381 million, down from $388 million a year earlier, and net income of $14 million compared with a net loss of $5 million in the prior-year period. Gross written premium fell 8% year over year as the company traded off some Direct policy growth against competitors' pricing, which matters to shareholders because top-line shrinkage and profit gains point in different directions.
Key points
- Net income was $14 million versus a net loss of $5 million a year earlier; adjusted EBITDA was $34 million, broadly consistent with the prior-year period.
- Gross written premium was $358 million, down 8% year over year, and gross earned premium was $356 million, down 5%.
- Net combined ratio was 97.2%, improved 4.9 points year over year; gross accident period loss ratio was 61.1%.
- The company repurchased $36.2 million of shares in the quarter under its $75 million authorization.
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.