Why Root Was a Flop on Friday

Why Root Was a Flop on Friday
Eric Volkman, The Motley Fool
·2 min read

Despite a 37% year-over-year increase in direct written premiums, Root's total revenue fell by over 50% to $50.9 million from the year-ago quarter's tally of $106.5 million. While analyst projections for revenue weren't readily available, data compiled by The Wall Street Journal indicates they were collectively estimating only a $0.34-per-share loss on the bottom line. Root believes its direct written premiums will climb to a range of $805 million to $855 million (2020's result: $617 million).