Root Inc
joinroot.comWhat Do They Do?
Sells personal auto insurance to drivers, using driving behavior and other data to price coverage, through direct digital channels and partnerships.
10-K for FY2025, filed Feb 25, 2026Root is a technology insurance company founded on the idea that car insurance rates should be based primarily on driving behaviors, not…View ↗
Our primary focus is the United States personal auto insurance market. We have built our company around the principle that each individual…View ↗
For certain of our customers, we use technology to measure risk based on transparent collection and analysis of individual driving…View ↗
How Do They Make Money?
$1.5B
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10-K for FY2025, filed Feb 25, 2026
$1.5B ↗
Who Are Their Customers?
Consumers buy personal auto insurance directly through Root’s digital channels or through partnerships embedded in automotive and financial-services platforms; independent agents can also offer Root policies to their customers.
10-K for FY2025, filed Feb 25, 2026Root is a technology insurance company founded on the idea that car insurance rates should be based primarily on driving behaviors, not…View ↗
We distribute largely through our direct and partnership channels. The direct channel includes mobile, which is one of the fastest growing…View ↗
Direct: seamless experiences driven by performance marketing and organic traffic connecting consumers directly to the product. Digital. Our…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 14 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$61.8MView ↗
10-K for FY2025, filed Feb 25, 2026
$40.3MView ↗
10-K for FY2025, filed Feb 25, 2026
$206.5MView ↗
How Are They Changing?
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Sep 1, 2026
Root amended its commercial agreement with Carvana
The amendment changes the agreement’s term and exclusivity provisions; a new warrant has exercise milestones tied to insurance sales through the Integrated Platform.
Sources
8-K, filed Sep 1, 2026
The New Warrant consists of five independently exercisable tranches of 305,112 shares each (each, a “Tranche”). Each Tranche is subject to…View ↗
Growing. Revenue grew 4.4x in 4 years, from $345.4M in FY2021 to $1.5B in FY2025, about 45% a year.
Broader data for pricing
The latest report describes pricing that can draw on traditional underwriting variables, ongoing driving data, and third-party driving data; the older report centered its description on smartphone driving data and telematics.
10-K for FY2022, filed Feb 22, 2023 10-K for FY2025, filed Feb 25, 2026We have expanded beyond just traditional telematics to include various other means of measuring risk. This includes traditional…View ↗
Who Do They Compete With?
Competes with GEICO, Progressive, and Allstate
10-K for FY2025, filed Feb 25, 2026The insurance industry in which we operate is highly competitive. Several of our primary competitors spend billions of dollars on annual…View ↗
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