Root
Compare Root…Telematics-based auto insurance; reached GAAP profitability 2024-25 via Carvana embedded channel; ~$1.5B market cap (down from $6.7B IPO). The dark-horse insurtech profitability winner.
SectorsInsurance
Register for a premium account to gain access to Sterling AI.
Get StartedThings you can ask Sterling:
RootTelematics-based auto insurance; reached GAAP profitability 2024-25 via Carvana embedded channel; ~$1.5B market cap (down from $6.7B IPO). The dark-horse insurtech profitability winner.
Carvana embedded distribution (launched July 2022) transformed Root's economics. The Partnership channel — embedded (Carvana, others) plus independent agents — grew from near zero to roughly half of new writings by Q4 2025, replacing expensive direct-to-consumer acquisition.
FY 2021 — FY 2025
Source: Root, Inc. 10-K filings and quarterly shareholder letters (Updated: 2025-FY)
Total active auto policies. Root pulled back hard in 2022-2023 as inflation hit auto loss costs; the Carvana embedded partnership and tighter underwriting returned the company to growth in 2024 and to profitability for the first time in FY 2024.
Q1 2022 — Q1 2026
Source: Root Inc. quarterly shareholder letters and 10-Q filings (Updated: 2026-Q1)