Root, Inc. Stock Price, News & Analysis

Root (NASDAQ: ROOT) announced its third quarter 2024 financial results. The company will host a conference call and earnings webcast on October 30, 2024, at 5:00 p.m. Eastern Time to discuss the results and provide operational updates. The financial results and management commentary are available through a shareholder letter on Root's investor relations website. An updated investor presentation is also accessible on ir.joinroot.com.

Root has successfully refinanced its term loan facility with BlackRock, reducing the principal amount from $300 million to $200 million. The new six-year term loan features improved terms, including an interest rate reduction of at least 300 basis points to 3-month term SOFR plus 600 basis points with performance-based step-downs. The company maintains $150 million of available capital under the amended facility. The refinancing is expected to reduce Root's interest expense by approximately 50% on a run-rate basis. The company will expense approximately $5.5 million of unamortized debt discount and issuance costs in Q4 related to the loan modification.

Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, has announced its plans to host a conference call to discuss financial results for the third quarter of 2024. The call is scheduled for Wednesday, October 30, 2024, at 5:00 p.m. Eastern Time. The company will release its third quarter results on the same day, after the close of financial markets, in the investor relations section of its website at ir.joinroot.com.

For those interested in participating, the conference call details are as follows:

• Participant Toll-Free Dial-In Number: 1 (877) 269-7751
• Participant Toll Dial-In Number: 1 (201) 389-0908
• Webcast: https://ir.joinroot.com/news-events/events

First Connect Insurance Services has partnered with Root Insurance, a subsidiary of Root, Inc. (NASDAQ: ROOT), to offer API-powered quote and bind capabilities to independent insurance agents. The collaboration introduces a streamlined process for accessing Root's standard and preferred auto insurance in California, with plans to expand to 25 additional states by October's end.

The new interface simplifies policy creation by automatically pulling driver and vehicle data, considering state minimums and previous coverages. Agents can work across devices without re-entering credentials. This partnership aims to enhance First Connect's platform, which provides independent agents access to over 100 carriers and MGAs across various insurance lines.

Root Insurance (NASDAQ: ROOT) and Goosehead Insurance (NASDAQ: GSHD) have announced a technology integration partnership aimed at revolutionizing the agent experience in insurance sales. This collaboration integrates Root's innovative offering with Goosehead's proprietary Quote to Issue (QTI) platform, reducing policy sales time by over 50%. The partnership enables Goosehead agents to sell Root's insurance products more efficiently than competitors, fulfilling their promise of delivering optimal coverage at the best price.

The integration guides agents through the entire process, including application, coverage customization, and payment, creating a fast, simplified, and transparent insurance experience. This collaboration addresses the long-standing lack of innovation in the agent experience and leverages the technological strengths of both companies to enhance the insurance-buying process for agents and clients alike.

Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, has released its 2024 second quarter financial results. The company's shareholder letter and updated investor presentation are now available on its investor relations website at ir.joinroot.com. Root will host a conference call and earnings webcast on August 7, 2024, at 5:00 p.m. Eastern Time to discuss the results and provide a company operations update. Interested parties can access the live audio webcast through the News & Events section of Root's Investor Relations website. For those unable to attend, a replay of the webcast will be made available for on-demand viewing after the call.

Root (NASDAQ: ROOT), the parent company of Root Insurance Company, has announced a conference call to discuss its second quarter 2024 financial results. The call is scheduled for August 7, 2024, at 5:00 p.m. Eastern Time. Root plans to release its Q2 results on the same day after market close, making them available on the investor relations section of its website.

Investors and analysts can participate in the call using the following details:

• Toll-Free Dial-In: 1 (877) 269-7751
• Toll Dial-In: 1 (201) 389-0908
• Webcast: https://ir.joinroot.com/news-events/events

Root Insurance, a leading technology company in insurance solutions, announced a special livery for INDYCAR driver Marcus Armstrong's No. 11 Root Honda for the race at Mid-Ohio Sports Car Course on July 7. This event marks a significant home state race for Root, which will also host members of the Ohio American Legion, 12th District Council during the race weekend. Armstrong, who earned his first career podium finish at the Streets of Detroit race on June 2, has shown exceptional performance this season, aligning with Root's values of drive and determination. Root and Chip Ganassi Racing are looking forward to an exhilarating race and continuing their support for Armstrong.

Root, a technology company known for its insurance solutions, will participate in the TD Financial Services & Fintech Summit on June 7, 2024. Alex Timm, the Co-Founder and CEO, will join a virtual fireside chat moderated by Andrew Kligerman. The event will take place at 2:30 p.m. ET. Interested parties can register for the chat through Root’s Investor Relations website, and a replay will be accessible for a period post-presentation.