Root (ROOT) Revenue — Quarter Ended Mar 31, 2023
Revenue declined in the current quarter compared to both the prior quarter and the same quarter last year. The downward trend reflects ongoing challenges in the business environment.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined in the current quarter compared to both the prior quarter and the same quarter last year. The downward trend reflects ongoing challenges in the business environment.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$70.1M
Revenue reported for this quarter.
Quarter-over-quarter
-1.7%
Change from the immediately preceding quarter.
Year-over-year
-17.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$295.5M
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $80.4M | -10.5% |
| Sep 30, 2022 | $73.7M | -21.4% |
| Dec 31, 2022 | $71.3M | -23.5% |
| Mar 31, 2023 | $70.1M | -17.9% |
Revenue performance
The reported revenue decreased relative to the immediately preceding quarter. The year-over-year comparison also shows a decline from the same quarter one year earlier.
Quarterly comparison
Revenue was lower than the prior quarter and significantly lower than the same quarter a year ago. The sequential decline was modest, while the annual decline was more pronounced.
What to watch
Monitor whether the company can stabilize revenue in upcoming quarters given the persistent downward trend.