Root (ROOT) Revenue — Quarter Ended Dec 31, 2023
Revenue for the quarter increased sharply compared to both the prior quarter and the same quarter last year. The sequential growth accelerated from the previous quarter's gain, while the year-over-year comparison showed a substantial rise.
Key takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue for the quarter increased sharply compared to both the prior quarter and the same quarter last year. The sequential growth accelerated from the previous quarter's gain, while the year-over-year comparison showed a substantial rise.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$194.8M
Revenue reported for this quarter.
Quarter-over-quarter
+69.0%
Change from the immediately preceding quarter.
Year-over-year
+173.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$455M
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 |
|---|---|---|
| Mar 31, 2023 | $70.1M | -17.9% |
| Jun 30, 2023 | $74.8M | -7.0% |
| Sep 30, 2023 | $115.3M | +56.4% |
| Dec 31, 2023 | $194.8M | +173.2% |
Revenue performance
The reported revenue moved higher, continuing the upward trajectory seen in the prior quarter. This marks the highest quarterly revenue in the trailing twelve months.
Quarterly comparison
Compared with the immediately preceding quarter, revenue increased. Versus the same quarter one year earlier, revenue also increased.
What to watch
The filing discusses reliance on reinsurance and potential changes to retention levels, which could affect future revenue recognition.