Root Reports $14.4 Million Third-Quarter Profit and Extends Carvana Deal
The company posted $381.3 million in revenue and scheduled its Carvana partnership through August 2028.
Root, Inc. reported third-quarter 2026 net income of $14.4 million on revenue of $381.3 million, according to its Form 8-K regulatory filing and quarterly shareholder letter furnished Nov. 4, 2026. The company also submitted its quarterly Form 10-Q report to regulators on the same day.
The company posted diluted earnings of $0.86 per share and generated adjusted EBITDA of $33.5 million, a non-GAAP financial measure, alongside a net combined ratio of 97.2%.
According to the shareholder letter, Root concluded the quarter with 484,037 policies in force, representing a 4% increase year-over-year, while gross written premiums totaled $357.5 million, an 8% decrease.
The company completed $36.2 million in share repurchases during the quarter and expanded into Wyoming, growing its footprint to 38 states. Root also reported that its Carvana deal is extended through August 2028. In addition, the shareholder letter noted double-digit rate reductions in Florida and Ohio.
The regulatory filing does not disclose local employee counts.
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Root Inc Form 8-K filed Nov 4, 2026 (Items 2.02, 7.01, 9.01), accepted 4:07 p.m. ET
Supporting evidence (2)
Root, Inc. reported third-quarter 2026 net income of $14.4 million on revenue of $381.3 million, according to its Form 8-K regulatory filing and quarterly shareholder letter furnished Nov. 4, 2026.
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Root Inc Form 8-K filed Nov 4, 2026 (Items 2.02, 7.01, 9.01), accepted 4:07 p.m. ET
The company also submitted its quarterly Form 10-Q report to regulators on the same day.
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Also filed 10-Q same day (accession 0001788882-26-000082).
Root Inc Q3 2026 Letter to Shareholders (Ex. 99.1), observed Nov 4, 2026 ~8:00 p.m. ET
Supporting evidence (6)
Root, Inc. reported third-quarter 2026 net income of $14.4 million on revenue of $381.3 million, according to its Form 8-K regulatory filing and quarterly shareholder letter furnished Nov. 4, 2026.
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Root Inc Q3 2026 Letter to Shareholders (Ex. 99.1), observed Nov 4, 2026 ~8:00 p.m. ET Captured key figures from Ex. 99.1: Q3 revenue $381.3M; net income $14.4M
The company posted diluted earnings of $0.86 per share and generated adjusted EBITDA of $33.5 million, a non-GAAP financial measure, alongside a net combined ratio of 97.2%.
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(diluted EPS $0.86); adjusted EBITDA $33.5M; net combined ratio 97.2%
According to the shareholder letter, Root concluded the quarter with 484,037 policies in force, representing a 4% increase year-over-year, while gross written premiums totaled $357.5 million, an 8% decrease.
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policies in force 484,037 (+4% YoY); GWP $357.5M (−8%)
The company completed $36.2 million in share repurchases during the quarter and expanded into Wyoming, growing its footprint to 38 states.
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Wyoming expansion to 38 states; $36.2M Q3 buybacks.
Root also reported that its Carvana deal is extended through August 2028.
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Root Inc Q3 2026 Letter to Shareholders (Ex. 99.1), observed Nov 4, 2026 ~8:00 p.m. ET Captured key figures from Ex. 99.1: Q3 revenue $381.3M; net income $14.4M (diluted EPS $0.86); adjusted EBITDA $33.5M; net combined ratio 97.2%; policies in force 484,037 (+4% YoY); GWP $357.5M (−8%); Carvana deal extended through Aug 2028
In addition, the shareholder letter noted double-digit rate reductions in Florida and Ohio.
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Letter also notes double-digit rate reductions in Florida and Ohio.