Root expects its policies in force growth in 2026 to be relatively flat year over year if the current competitive environment persists, while the company targets a national footprint by the end of 2027. In the second quarter, net income increased 15% year-over-year to $25 million, revenue rose 2% to $389 million, and policies in force grew 6% to 484,000. The net combined ratio improved 3 percentage points year-over-year to a 92% net combined ratio, driven by expense discipline. Root launched operations in New Jersey, bringing its presence to 37 states covering over 80% of the addressable population, and announced a partnership with insurance shopping platform Jerry. The company also refinanced its $200 million debt facility and repurchased more than $20 million in shares under a $75 million authorization.
Root IncQ2 net income up 15%, revenue up 2%, improved combined ratio, refinanced debt, and repurchased shares.
