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Root posts $14.4M Q3 profit, extends Carvana partnership through 2028
Read the full articleColumbus car insurer Root posted $14.4 million in net income on $381.3 million in revenue for the third quarter of 2026. The company grew its policies in force to 484,037, extended its Carvana deal through August 2028, and expanded coverage into Wyoming.
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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.