Shares of Root, Inc. (NASDAQ:ROOT), the insurance technology company, surged 5.57% in the pre-market session on Friday, following the release of the company's stellar full-year 2024 earnings results.
Root reported a net income of $29.2 million for the year, a significant turnaround from the loss of $147.4 million in 2023. The company's revenue skyrocketed by 159% to $1.18 billion, driven by strong growth in its core insurance business. Both revenue and earnings per share beat analyst expectations.
The impressive financial performance marks a major milestone for Root, as the company achieved profitability for the first time in 2024. The move to profitability was fueled by the company's successful efforts to scale its operations and capitalize on the growing demand for its innovative insurance products.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。