Root reports Q3 EPS $1.35, consensus (98c)

Reports Q3 revenue $305.7M, consensus $272.8M. Alex Timm, co-founder and CEO said, “While this quarter certainly validated our conviction, we are just getting started. With a strong capital position and ability to drive profit, we are excited to increasingly focus on profitable growth. We will continue to invest our profits into the business to drive long term value creation, which will naturally increase our operating expenses in the near term. Our technology has inlocked a strong customer value proposition that we believe is differentiated in the market, difficult to replicate, and readily scalable. As a result, we believe our partners and customers alike will continue to benefit from our attractive prices, easy integrations, and great customer experiences.”