7Baggers

Root, Inc
(NASDAQ:ROOT) 

ROOT stock logo

Root, Inc. provides insurance products and services in the United States. The company offers auto, homeowners, and renters insurance products. The company operates a direct-to-consumer model and serves customers primarily through mobile applications, as well as through its website. Its direct distri...

Founded: 2015
Full Time Employees: 977
CEO / Co-Founder: Alexander E. Timm 
Sector: Financial Services
Industry: Insurance-Property & Casualty
Insurance
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• Market Cap:
• Exchange:
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                           
      revenues:
    		                       
      net premiums earned
    		363,700,000 367,300,000 360,100,000 353,000,000 321,300,000 299,700,000 279,300,000 261,600,000 230,300,000 176,000,000 100,000,000 63,900,000  64,300,000 68,600,000 74,700,000 78,300,000 84,900,000 85,100,000 81,200,000 59,100,000 44,100,000 44,900,000 
      net investment income
    		8,700,000 8,600,000 7,000,000 9,400,000 8,700,000 8,700,000 8,000,000 10,000,000 9,200,000 7,700,000 9,000,000 6,800,000  4,000,000 900,000 700,000 600,000 2,400,000 1,000,000 700,000 900,000 1,100,000 1,100,000 
      net realized gains on investments
    		100,000             -600,000  -100,000 1,200,000    2,400,000 100,000 100,000 
      fee income
    		20,300,000 20,100,000 19,800,000 19,700,000 18,700,000 17,600,000 17,100,000 16,600,000 14,700,000 10,200,000 6,200,000 3,800,000          3,250,000 4,400,000 
      other income
    		700,000 1,000,000 900,000 800,000 700,000 700,000 1,300,000 1,000,000 700,000 900,000 100,000 300,000            
      total revenues
    		393,500,000 397,000,000 387,800,000 382,900,000 349,400,000 326,700,000 305,700,000 289,200,000 254,900,000 194,800,000 115,300,000 74,800,000  71,300,000 73,700,000 80,400,000 85,400,000 93,200,000 93,800,000 89,800,000    
      yoy
    		12.62% 21.52% 26.86% 32.40% 37.07% 67.71% 165.13% 286.63%  173.21% 56.45% -6.97%  -23.50% -21.43% -10.47%        
      qoq
    		-0.88% 2.37% 1.28% 9.59% 6.95% 6.87% 5.71% 13.46% 30.85% 68.95% 54.14%   -3.26% -8.33% -5.85% -8.37% -0.64% 4.45%     
      operating expenses:
    		                       
      loss and loss adjustment expenses
    		226,200,000 245,900,000 239,400,000 233,300,000 205,600,000 191,800,000 184,500,000 190,300,000 166,400,000 122,700,000 85,800,000 59,500,000  77,700,000 80,900,000 95,700,000 96,700,000 107,800,000 114,400,000 110,200,000 59,900,000 59,500,000 76,100,000 
      sales and marketing
    		27,300,000 45,600,000 40,600,000 37,100,000 51,500,000 37,200,000 34,000,000 34,200,000 30,400,000 26,500,000 13,100,000 6,100,000 14,700,000 2,200,000 5,700,000 25,400,000 14,700,000 24,700,000 65,400,000 111,700,000 68,400,000 49,600,000 36,900,000 
      other insurance expense
    		59,400,000 54,700,000 67,000,000 47,900,000 36,700,000 31,300,000 22,400,000 28,100,000 24,600,000 25,400,000 18,300,000 2,600,000  -2,300,000 1,100,000 -7,800,000 1,000,000 8,600,000 -4,500,000 -1,500,000 2,400,000 -2,100,000 -26,300,000 
      technology and development
    		15,200,000 13,300,000 14,700,000 13,700,000 11,400,000 14,700,000 12,900,000 14,700,000 11,000,000 12,400,000 11,100,000 11,100,000  9,400,000 14,300,000 17,900,000 13,900,000 16,200,000 18,000,000 17,500,000 13,800,000 12,700,000 12,900,000 
      general and administrative
    		24,500,000 27,000,000 25,800,000 23,600,000 20,500,000 16,800,000 17,500,000 18,100,000 17,100,000 20,100,000 21,000,000 20,700,000 30,000,000 41,100,000 26,400,000 29,900,000 30,000,000 27,800,000 27,400,000 24,000,000 18,400,000 19,700,000 16,600,000 
      total operating expenses
    		352,600,000 386,500,000 387,500,000 355,600,000 325,700,000 291,800,000 271,300,000 285,400,000 249,500,000 207,100,000 149,300,000 100,000,000 156,300,000 128,100,000 128,400,000 161,100,000 156,300,000 185,100,000 220,700,000 261,900,000 162,900,000 139,400,000 116,200,000 
      operating income
    		40,900,000 10,500,000 300,000 27,300,000 23,700,000 34,900,000 34,400,000 3,800,000 5,400,000 -12,300,000 -34,000,000 -25,200,000 -70,900,000 -56,800,000 -54,700,000 -80,700,000 -70,900,000 -91,900,000 -126,900,000 -172,100,000 -94,300,000   
      yoy
    		72.57% -69.91% -99.13% 618.42% 338.89% -383.74% -201.18% -115.08% -107.62% -78.35% -37.84% -68.77% 0.00% -38.19% -56.90% -53.11% -24.81%       
      qoq
    		289.52% 3400.00% -98.90% 15.19% -32.09% 1.45% 805.26% -29.63% -143.90% -63.82% 34.92% -64.46% 24.82% 3.84% -32.22% 13.82% -22.85% -27.58% -26.26% 82.50%    
      operating margin %
    		10.39% 2.64% 0.08% 7.13% 6.78% 10.68% 11.25% 1.31% 2.12% -6.31% -29.49% -33.69% -Infinity% -79.66% -74.22% -100.37% -83.02% -98.61% -135.29% -191.65% -Infinity% NaN% NaN% 
      interest expense
    		4,800,000 36,900,000 -5,300,000 -5,300,000 -5,300,000 -7,400,000 -11,600,000 -11,600,000 -11,600,000 -11,700,000 -11,800,000 -11,500,000  -10,600,000 -9,300,000 -9,200,000 -5,500,000 -2,100,000 -6,100,000 -6,500,000 -5,300,000 44,800,000 19,500,000 
      income before income tax expense
    		36,100,000 5,400,000 -5,000,000 22,000,000 18,400,000 22,100,000 22,800,000                 
      income tax expense
    		200,000 900,000 -400,000                     
      net income
    		35,900,000 5,300,000 -5,400,000 22,000,000 18,400,000 22,100,000 22,800,000 -7,800,000 -6,200,000 -24,000,000 -45,800,000 -36,700,000 -76,400,000 -67,400,000 -64,000,000 -89,900,000 -76,400,000 -109,900,000 -133,000,000 -178,600,000 -99,600,000 -133,300,000 -85,200,000 
      yoy
    		95.11% -76.02% -123.68% -382.05% -396.77% -192.08% -149.78% -78.75% -91.88% -64.39% -28.44% -59.18% 0.00% -38.67% -51.88% -49.66% -23.29% -17.55% 56.10%     
      qoq
    		577.36% -198.15% -124.55% 19.57% -16.74% -3.07% -392.31% 25.81% -74.17% -47.60% 24.80% -51.96% 13.35% 5.31% -28.81% 17.67% -30.48% -17.37% -25.53% 79.32% -25.28% 56.46%  
      net income margin %
    		9.12% 1.34% -1.39% 5.75% 5.27% 6.76% 7.46% -2.70% -2.43% -12.32% -39.72% -49.06% -Infinity% -94.53% -86.84% -111.82% -89.46% -117.92% -141.79% -198.89% -Infinity% -Infinity% -Infinity% 
      net income attributable to participating securities
    		1,700,000 3,800,000  -1,100,000 -900,000 -1,200,000 -1,100,000                 
      net income attributable to common shareholders
    		34,200,000 5,100,000 -5,400,000 20,900,000 17,500,000 20,900,000 21,700,000                 
      other comprehensive income:
    		                       
      changes in net unrealized gains on investments
    		-3,500,000 400,000 1,200,000 1,600,000 3,000,000 -4,400,000 5,500,000  -800,000         -1,200,000 -500,000     
      comprehensive income
    		32,400,000 5,700,000 -4,200,000 23,600,000 21,400,000 17,700,000 28,300,000 -7,900,000 -7,000,000 -19,900,000 -46,500,000 -37,900,000 -80,100,000 -66,300,000 -66,300,000 -91,200,000 -80,100,000 -111,100,000 -133,500,000 -178,600,000 -103,100,000 -133,300,000 -85,100,000 
      earnings per common share:
    		                       
      basic
    		2,190,000 320,000 -350,000 1,360,000 1,150,000 1,400,000 1,450,000                 
      diluted
    		2,090,000 310,000 -350,000 1,290,000 1,070,000 1,310,000 1,350,000                 
      weighted-average common shares outstanding:
    		                       
      basic
    		15,600,000 15,400,000 15,400,000 15,400,000 15,200,000 14,900,000 15,000,000                 
      diluted
    		17,200,000 17,100,000 15,400,000 17,100,000 17,200,000 16,900,000 16,900,000                 
      loss before income tax expense
    		       -7,800,000 -6,200,000 -24,000,000 -45,800,000 -36,700,000 -76,400,000 -67,400,000 -64,000,000 -89,900,000 -76,400,000 -109,900,000 -133,000,000 -178,600,000 -99,600,000 -133,300,000 -85,200,000 
      other comprehensive income
    		                       
      changes in net unrealized losses on investments
    		       -100,000  -200,000 -700,000 -1,200,000  -1,825,000 -2,300,000 -1,300,000 -3,700,000    -3,500,000   
      loss per common share: basic and diluted
    		       -520,000 -420,000 -1,670,000 -3,160,000 -2,550,000 -5,460,000 -4,660,000 -4,540,000 -360,000 -300,000 -440,000 -530,000 -720,000 -400,000 1,130,000 -2,200,000 
      weighted-average common shares outstanding: basic and diluted
    		       14,900,000 14,600,000 14,400,000 14,500,000 14,400,000 14,000,000 14,100,000 14,100,000 253,000,000 251,700,000 249,200,000 250,200,000 248,900,000 247,100,000 75,500,000 38,800,000 
      condensed consolidated statement of operations and comprehensive loss data:
    		                       
      fee and other income
    		             3,650,000 4,200,000 5,100,000 5,300,000 5,450,000 7,700,000 7,900,000 6,200,000   
      revenue:
    		                       
      total revenue
    		                    68,600,000 50,900,000 50,500,000 
      changes in unrealized gain on investments
    		                     1,250,000 100,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                             
        assets
      		                       
        investments:
      		                       
        fixed maturities available-for-sale, at fair value
      		456,300,000 387,000,000 357,800,000 319,200,000 312,900,000 292,000,000 266,200,000 223,800,000 207,300,000 165,900,000 164,500,000 160,000,000 126,400,000 128,400,000 119,700,000 120,300,000  129,900,000    221,000,000  
        short-term investments
      		10,800,000   3,500,000 7,900,000 14,800,000 8,600,000 11,700,000 8,700,000 900,000 2,600,000 2,700,000 100,000 400,000 400,000 500,000 500,000   300,000 3,000,000 3,000,000 2,500,000 
        other investments
      		4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,400,000 4,700,000 1,300,000 800,000 500,000 500,000  
        total investments
      		471,500,000 391,400,000 362,200,000 327,100,000 325,200,000 311,200,000 279,200,000 239,900,000 220,400,000 171,200,000 171,500,000 167,100,000 130,900,000 133,200,000 124,500,000 125,200,000 134,000,000 134,600,000 132,100,000 135,500,000 139,800,000 224,500,000 224,500,000 
        cash and cash equivalents
      		597,200,000 669,300,000 653,300,000 641,400,000 609,400,000 599,300,000 674,800,000 667,200,000 640,500,000 678,700,000 635,300,000 628,000,000 679,300,000 762,100,000 819,700,000 885,600,000 934,700,000 706,000,000 834,100,000 973,100,000 1,106,300,000 1,112,800,000 217,800,000 
        restricted cash and cash equivalents
      		11,700,000 20,600,000                      
        premiums receivable, net of allowance
      		350,800,000 332,800,000 352,500,000 341,300,000 360,700,000 305,300,000 308,700,000 296,000,000 292,000,000 247,100,000 187,900,000 127,600,000 113,500,000 111,900,000 129,900,000 132,200,000 157,100,000 148,100,000 175,800,000 160,200,000 161,000,000 130,100,000 138,400,000 
        reinsurance premiums receivable, net of allowance of zero at march 31, 2026 and december 31, 2025
      		94,400,000                       
        reinsurance recoverable, net of allowance of 0.1 at march 31, 2026 and december 31, 2025
      		27,700,000                       
        deferred policy acquisition costs
      		46,500,000                       
        other assets
      		85,100,000 124,300,000 119,300,000 116,400,000 110,500,000 103,200,000 99,800,000 86,500,000 81,100,000 76,200,000 70,700,000 67,300,000 72,900,000 81,700,000 86,900,000 85,900,000 70,300,000 73,800,000 90,400,000 64,400,000 64,800,000 56,300,000 22,200,000 
        total assets
      		1,684,900,000 1,674,500,000 1,642,400,000 1,587,700,000 1,585,500,000 1,495,700,000 1,561,900,000 1,495,800,000 1,432,300,000 1,347,700,000 1,240,200,000 1,194,900,000 1,201,100,000 1,312,900,000 1,384,200,000 1,479,800,000 1,563,200,000 1,319,300,000 1,524,500,000 1,587,700,000 1,704,200,000 1,762,300,000 838,500,000 
        liabilities, redeemable convertible preferred stock and stockholders’ equity
      		                       
        liabilities:
      		                       
        loss and loss adjustment expense reserves
      		472,700,000 483,600,000 462,900,000 444,500,000 418,500,000 413,200,000 392,400,000 375,800,000 322,000,000 284,200,000 256,500,000 246,500,000 259,600,000 287,400,000 294,200,000 312,700,000 308,400,000 320,200,000 300,700,000 272,500,000 240,700,000 237,200,000 225,300,000 
        unearned premiums
      		412,400,000 393,700,000 409,300,000 395,200,000 420,300,000 353,900,000 354,400,000 339,700,000 339,400,000 283,700,000 218,900,000 154,600,000 141,100,000 136,500,000 157,300,000 161,900,000 192,500,000 180,100,000 210,900,000 195,800,000 199,400,000 157,100,000 165,100,000 
        long-term debt and warrants
      		200,300,000 200,300,000 200,400,000 200,100,000 200,000,000 200,100,000 300,900,000 300,100,000 299,300,000 299,000,000 298,300,000 297,400,000 296,300,000 295,400,000 293,900,000 292,300,000 290,800,000  201,700,000 197,100,000 192,200,000 188,200,000 220,000,000 
        premiums payable
      		95,100,000                       
        accounts payable and accrued expenses
      		43,200,000 74,200,000 58,600,000 52,300,000 53,400,000 71,100,000 64,000,000 55,000,000 40,900,000 65,600,000 47,800,000 37,800,000 26,000,000 39,700,000 40,100,000 37,700,000 23,800,000 29,100,000 41,500,000 70,800,000 50,500,000 48,000,000 61,500,000 
        other liabilities
      		23,300,000 124,000,000 122,200,000 123,300,000 122,700,000 108,900,000 110,100,000 106,300,000 98,900,000 83,100,000 57,800,000 41,800,000 36,500,000 45,000,000 45,400,000 51,200,000 40,500,000 39,900,000 44,700,000 20,900,000 21,400,000 10,300,000 10,200,000 
        total liabilities
      		1,247,000,000 1,278,200,000 1,265,400,000 1,231,200,000 1,244,800,000 1,180,000,000 1,268,000,000 1,232,500,000 1,154,600,000 1,070,000,000 951,100,000 868,500,000 845,400,000 923,800,000 941,300,000 979,800,000 982,500,000 670,900,000 888,500,000 825,700,000 769,900,000 729,900,000 848,500,000 
        commitments and contingencies
      		                       
        redeemable convertible preferred stock, 0.0001 par value...
      		112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000 112,000,000     560,400,000 
        stockholders’ equity:
      		                       
        class a common stock, 0.0001 par value...
      		                       
        class b convertible common stock, 0.0001 par value...
      		                       
        additional paid-in capital
      		1,931,200,000 1,922,000,000 1,908,400,000 1,883,700,000 1,891,500,000 1,887,900,000 1,883,800,000 1,881,500,000 1,890,400,000 1,883,400,000 1,874,900,000 1,865,700,000 1,857,100,000 1,850,700,000 1,838,200,000 1,829,000,000 1,818,500,000 1,806,100,000 1,794,400,000 1,786,900,000 1,780,600,000 1,775,600,000 39,500,000 
        accumulated other comprehensive income
      		400,000 3,900,000 3,500,000 2,300,000 700,000  2,100,000       -5,800,000 -6,900,000 -4,600,000 -3,300,000 400,000 1,600,000 2,100,000 2,100,000 5,600,000 5,600,000 
        accumulated loss
      		-1,605,700,000 -1,641,600,000 -1,646,900,000 -1,641,500,000 -1,663,500,000 -1,681,900,000 -1,704,000,000 -1,726,800,000 -1,721,400,000 -1,715,200,000 -1,691,200,000 -1,645,400,000 -1,608,700,000 -1,567,800,000 -1,500,400,000 -1,436,400,000 -1,346,500,000 -1,270,100,000 -1,159,200,000 -1,026,200,000 -847,600,000 -748,000,000 -614,700,000 
        total stockholders’ equity
      		325,900,000 284,300,000 265,000,000 244,500,000 228,700,000 203,700,000 181,900,000 151,300,000 165,700,000 165,700,000 177,100,000 214,400,000 243,700,000 277,100,000 330,900,000 388,000,000 468,700,000 536,400,000 636,000,000 762,000,000 934,300,000 1,032,400,000  
        total liabilities, redeemable convertible preferred stock and stockholders’ equity
      		1,684,900,000 1,674,500,000 1,642,400,000 1,587,700,000 1,585,500,000 1,495,700,000 1,561,900,000 1,495,800,000 1,432,300,000 1,347,700,000 1,240,200,000 1,194,900,000 1,201,100,000 1,312,900,000 1,384,200,000 1,479,800,000 1,563,200,000 1,319,300,000    1,762,300,000  
        reinsurance recoverable and receivable, net of allowance
      		 129,800,000 142,300,000 145,500,000 157,800,000 150,600,000 160,600,000 156,800,000 147,100,000 125,300,000 137,700,000 130,200,000 129,400,000 148,800,000 136,000,000 158,100,000 159,400,000       
        prepaid reinsurance premiums
      		 6,300,000 11,700,000 14,900,000 20,800,000 25,100,000 37,800,000 48,400,000 50,200,000 48,200,000 36,100,000 73,700,000 74,100,000 74,200,000 86,200,000 91,800,000 106,700,000 100,800,000 114,700,000 111,500,000 101,300,000 112,800,000 119,100,000 
        reinsurance premiums payable
      		 2,400,000 12,000,000 15,800,000 29,900,000 32,800,000 46,200,000 55,600,000 54,100,000 54,400,000 71,800,000 90,400,000 85,900,000 119,800,000 110,400,000 124,000,000 126,500,000 101,600,000 89,000,000 68,600,000 65,700,000 89,100,000 166,400,000 
        restricted cash
      		  1,100,000 1,100,000 1,100,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 
        accumulated other comprehensive loss
      		     -2,300,000  -3,400,000 -3,300,000 -2,500,000 -6,600,000 -5,900,000 -4,700,000           
        class b common stock, 0.0001 par value...
      		                       
        fixed maturities available-for sale, at fair value
      		                129,100,000  130,800,000 134,400,000 136,300,000  222,000,000 
        reinsurance recoverable, net of allowance of 0.2 and zero at december 31, 2021 and december 31, 2020, respectively
      		                 155,000,000      
        treasury stock
      		                  -800,000 -800,000 -800,000 -800,000 -800,000 
        reinsurance recoverable
      		                  176,400,000 142,000,000 130,000,000 124,800,000 104,100,000 
        liabilities and stockholders’ equity
      		                       
        preferred stock, 0.0001 par value...
      		                       
        total liabilities and stockholders’ equity
      		                  1,524,500,000 1,587,700,000 1,704,200,000   
        stockholders’ equity
      		                       
        fixed assets
      		                      9,600,000 
        deferred acquisition costs
      		                      1,800,000 
        liabilities, redeemable convertible preferred stock and stockholders’ deficit
      		                       
        stockholders’ deficit:
      		                       
        common stock, 0.0001 par value...
      		                       
        total stockholders’ deficit
      		                      -570,400,000 
        total liabilities, redeemable convertible preferred stock and stockholders’ deficit
      		                      838,500,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 
                              
          cash flows from operating activities:
        		                      
          net income
        		35,900,000 5,300,000 -5,400,000 22,000,000 18,400,000 22,100,000                 
          adjustments to reconcile net income to net cash from operating activities:
        		                      
          share-based compensation
        		11,000,000 13,700,000 11,600,000 8,400,000 6,400,000 5,800,000 4,300,000 3,800,000 4,600,000 4,900,000 4,700,000 5,200,000 2,500,000 8,700,000 7,800,000 7,400,000 6,600,000 4,600,000 7,500,000 4,900,000 2,300,000 1,800,000 
          warrant compensation expense
        		1,900,000 2,000,000    0 0 1,000,000 2,800,000 4,100,000 5,000,000 3,900,000 4,400,000 4,200,000 1,500,000 3,500,000 5,300,000      
          depreciation and amortization
        		3,100,000 3,100,000 4,700,000 2,000,000 2,000,000 2,800,000 5,200,000 4,000,000 2,900,000 4,400,000 2,700,000 2,800,000 2,700,000 4,300,000 2,900,000 3,000,000 3,600,000 5,600,000 3,800,000 3,700,000 3,500,000 5,000,000 
          bad debt expense
        		9,800,000 9,600,000 9,300,000 8,800,000 9,000,000 10,900,000 8,800,000 7,900,000 6,000,000 3,500,000 5,600,000 2,200,000 2,800,000 3,700,000 4,800,000 4,300,000 4,600,000 6,200,000 5,300,000 4,700,000 4,700,000 6,900,000 
          net realized gains on investments
        		-100,000             600,000 0 100,000 -1,200,000 0 0    
          changes in operating assets and liabilities:
        		                      
          premiums receivable
        		-27,800,000 10,100,000 -20,500,000 10,500,000 -64,300,000 -8,000,000 -21,500,000 -11,900,000 -50,900,000 -63,800,000 -63,200,000 -16,300,000 -4,400,000 14,300,000 -2,500,000 20,600,000 -13,600,000 20,700,000 -20,900,000 -3,900,000 -35,600,000 1,400,000 
          reinsurance premiums receivable
        		1,900,000                      
          reinsurance recoverable
        		5,800,000                 21,200,000 -34,400,000 -12,000,000 -5,200,000 -20,700,000 
          deferred policy acquisition costs
        		-2,100,000                      
          other assets
        		1,100,000 -4,300,000 400,000 -4,400,000 -6,300,000 -1,900,000 -11,800,000 -6,300,000 -5,000,000 -5,800,000 -4,000,000 5,700,000 8,900,000 3,600,000 -600,000 -15,400,000 4,900,000 2,400,000 -4,900,000 1,300,000 2,000,000 -12,100,000 
          losses and loss adjustment expenses reserves
        		-10,900,000 20,700,000 18,400,000 26,000,000 5,300,000 20,800,000 16,600,000 53,800,000 37,800,000 27,700,000 10,000,000 -13,100,000 -27,800,000 -6,800,000 -18,500,000 4,300,000 -11,800,000 19,500,000 28,200,000 31,800,000 3,500,000 11,900,000 
          unearned premiums
        		18,700,000 -15,600,000 14,100,000 -25,100,000 66,400,000 -500,000 14,700,000 300,000 55,700,000 64,800,000 64,300,000 13,500,000 4,600,000 -20,800,000 -4,600,000 -30,600,000 12,400,000 -30,800,000 15,100,000 -3,600,000 42,300,000 -8,000,000 
          premiums payable
        		-1,600,000                      
          accounts payable and accrued expenses
        		-31,000,000 15,400,000 6,300,000 -1,000,000 -18,000,000 3,200,000 9,100,000 13,700,000 -24,700,000 18,100,000 10,400,000 12,700,000 -13,500,000 400,000 3,200,000 14,700,000 -400,000 -12,100,000 -30,100,000 20,500,000 2,500,000 -13,400,000 
          other liabilities
        		-6,400,000 1,800,000 -1,100,000 600,000 13,800,000 -1,200,000 3,800,000 10,500,000 15,600,000 28,300,000 16,300,000 5,400,000 -8,600,000 600,000 -2,900,000 10,600,000 200,000 4,900,000 5,300,000 -500,000 600,000 -300,000 
          net cash from operating activities
        		9,300,000 70,100,000 57,600,000 52,000,000 26,800,000 69,200,000 49,400,000 62,600,000 14,500,000 46,100,000 14,600,000 -10,600,000 -83,700,000 -46,700,000 -59,000,000 -53,700,000 -51,200,000 -39,100,000 -137,800,000 -135,600,000 -90,900,000 -192,400,000 
          capital expenditures
        		-3,500,000 -4,200,000 -3,900,000 -4,000,000 -2,000,000 -4,400,000 -2,400,000 -2,500,000 -2,100,000 -2,100,000 -2,000,000 -2,600,000 -2,500,000 -1,400,000 -2,100,000 -2,600,000 -2,700,000 -1,800,000 -1,600,000 -1,600,000 -1,600,000 -1,500,000 
          free cash flows
        		5,800,000 65,900,000 53,700,000 48,000,000 24,800,000 64,800,000 47,000,000 60,100,000 12,400,000 44,000,000 12,600,000 -13,200,000 -86,200,000 -48,100,000 -61,100,000 -56,300,000 -53,900,000 -40,900,000 -139,400,000 -137,200,000 -92,500,000 -193,900,000 
          cash flows from investing activities:
        		                      
          purchases of investments
        		-100,100,000 -44,200,000 -57,300,000 -18,000,000 -27,900,000 -50,100,000 -52,200,000 -36,500,000 -59,000,000 -14,300,000 -12,800,000 -44,100,000 -4,800,000 -16,900,000 -21,800,000 -500,000 -8,500,000 -6,600,000 -3,600,000   -20,300,000 
          proceeds from maturities, calls and pay downs of investments
        		12,300,000  19,400,000 18,200,000 16,000,000                  
          sales of investments
        		4,700,000 1,700,000 200,000 0 100,000 100,000    1,700,000 300,000   0 4,900,000 300,000 1,900,000 200,000 0 0 70,200,000 8,500,000 
          capitalization of internally developed software
        		-3,500,000 -4,200,000 -3,900,000 -4,000,000 -2,000,000 -4,400,000 -2,400,000 -2,500,000 -2,100,000 -2,100,000 -2,000,000 -2,600,000 -2,500,000 -1,400,000 -2,100,000 -2,600,000 -2,700,000 -1,800,000 -1,600,000 -1,600,000 -1,600,000 -1,500,000 
          net cash from investing activities
        		-86,600,000 -32,500,000 -41,600,000 -3,800,000 -13,800,000 -40,300,000 -39,800,000 -22,000,000 -52,300,000 500,000 -7,000,000 -40,100,000 900,000 -10,900,000 -3,900,000 4,500,000 -6,300,000 -6,400,000 700,000 1,300,000 81,300,000 -11,000,000 
          cash flows from financing activities:
        		                      
          proceeds from exercise of stock options and restricted stock units
        		 0 -100,000 100,000 300,000                  
          taxes paid related to net share settlement of equity awards
        		-3,700,000 -2,100,000 -4,000,000 -16,300,000 -3,100,000 -1,800,000 -2,000,000 -10,900,000 -400,000              
          net cash from financing activities
        		-3,700,000 -2,100,000 -4,100,000 -16,200,000 -2,800,000 -104,400,000 -2,000,000 -13,900,000 -400,000 -3,200,000 -300,000   0 -3,000,000 100,000 286,200,000 -82,600,000 -1,900,000 1,100,000 3,100,000 1,098,400,000 
          net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents
        		-81,000,000                      
          cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period
        		689,900,000                      
          cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period
        		608,900,000                      
          loss on extinguishment of debt
        		                      
          gain on lease modification
        		         0    -700,000         
          reinsurance recoverable and receivable
        		 12,500,000 3,200,000 12,400,000 -7,300,000 10,500,000 -3,800,000 -9,700,000 -21,800,000 13,400,000 -10,100,000 -800,000 19,400,000  22,100,000 1,300,000 -4,400,000      
          prepaid reinsurance premiums
        		 5,400,000 3,200,000 5,900,000 4,300,000 12,700,000 10,600,000 1,800,000 -2,000,000 -12,100,000 37,600,000 400,000 100,000 12,000,000 5,600,000 14,900,000 -5,900,000 13,900,000 -3,200,000 -10,200,000 11,500,000 6,300,000 
          reinsurance premiums payable
        		 -9,600,000 -3,800,000 -14,100,000 -2,900,000 -13,400,000 -9,400,000 1,500,000 -300,000 -17,400,000 -18,600,000 4,500,000 -33,900,000 9,400,000 -13,600,000 -2,500,000 24,900,000 12,600,000 20,400,000 2,900,000 -23,400,000 -77,300,000 
          proceeds from maturities, call and pay downs of investments
        		       17,200,000 9,000,000 15,200,000 7,500,000 6,600,000 8,200,000 7,400,000 15,100,000 7,300,000 4,300,000 4,100,000 6,700,000 10,800,000 13,100,000 11,300,000 
          purchases of fixed assets
        		     0 0 -200,000 -200,000 0 0       -2,300,000 -800,000 -1,100,000 -400,000 -100,000 
          payment of preferred stock and related warrants issuance costs
        		     0 0       0         
          proceeds from issuance of debt and related warrants, net of issuance costs
        		               0 286,000,000      
          repayments of long-term debt
        		                 -198,800,000 -200,000 -300,000 -200,000 -300,000 
          cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of year
        		                      
          cash, cash equivalents, restricted cash, and restricted cash equivalents at end of year
        		                      
          net increase in cash, cash equivalents and restricted cash
        		  11,900,000 32,000,000 10,200,000     43,400,000 7,300,000 -51,300,000 -82,800,000 -57,600,000 -65,900,000 -49,100,000 228,700,000     895,000,000 
          cash, cash equivalents and restricted cash at beginning of period
        		  0 0 600,300,000  0 0 679,700,000  0 0 763,100,000  0 0 707,000,000  0 0 1,113,800,000  
          cash, cash equivalents and restricted cash at end of period
        		  11,900,000 32,000,000 610,500,000  7,600,000 26,700,000 641,500,000  7,300,000 -51,300,000 680,300,000  -65,900,000 -49,100,000 935,700,000  -139,000,000 -133,200,000 1,107,300,000  
          purchases of indefinite-lived intangible assets and transaction costs
        		             0 0 0 -1,300,000      
          cash, cash equivalents and restricted cash at beginning of year
        		                     0 
          cash, cash equivalents and restricted cash at end of year
        		                     895,000,000 
          net decrease in cash, cash equivalents and restricted cash
        		      7,600,000 26,700,000 -38,200,000          -139,000,000 -133,200,000 -6,500,000  
          net loss
        		       -7,800,000 -6,200,000 -24,000,000 -45,800,000 -36,700,000 -40,900,000 -67,400,000 -64,000,000 -89,900,000 -76,400,000 -109,900,000 -133,000,000 -178,600,000 -99,600,000 -133,300,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                      
          loss on early extinguishment of debt
        		                      
          paid-in-kind interest expense
        		                      
          paid-in-kind interest paid
        		                      
          change in fair value of equity securities
        		                 -3,400,000     
          proceeds from exercise of stock options and restricted stock units, net of tax (withholding)/ proceeds
        		                      
          proceeds from issuance of preferred stock and related warrants
        		                      
          proceeds from exercise of stock options and restricted stock units, net of tax (withholding)/proceeds
        		          -300,000            
          proceeds from exercise of stock options and restricted stock units, net of tax proceeds/
        		             0 0 100,000 200,000 200,000 -1,700,000 1,400,000 3,300,000  
          tender offer
        		                     0 
          warrants fair value adjustment
        		                     38,700,000 
          proceeds from issuance of common stock from ipo and concurrent private placements, net of issuance costs
        		                      
          purchases of treasury stock
        		                      
          payment-in-kind interest expense
        		                  3,500,000 3,400,000 2,400,000  
          proceeds from issuance of debt and related warrants
        		                      
          safe fair value adjustment
        		                      
          proceeds from safe
        		                      
          purchase of treasury stock
        		                      
          proceeds from debt and warrants issuance, net of issuance costs
        		                      
          debt issuance costs
        		                      
          realized gains on investments
        		                    -2,400,000 -100,000 
          paid-in kind interest expense
        		                      
          proceeds from exercise of stock options and warrants
        		                      
          proceeds from issuance of preferred stock, net of issuance costs
        		                      
          supplemental disclosures:
        		                      
          interest paid
        		                     1,200,000 
          federal income taxes paid
        		                      
          leasehold improvements - non-cash
        		                      
          conversion of debt to preferred stock - non-cash
        		                      
          conversion of preferred stock to common stock - non-cash
        		                      
          conversion of warrants to common stock - non-cash
        		                      
          purchases of treasury stock - non-cash
        		                      
          deferred acquisition costs
        		                      
          proceeds from exercise of stock options
        		                      
          proceeds from issuance of preferred stock
        		                      
          proceeds from debt issuance
        		                      
          income taxes paid
        		                      
          purchase of treasury stock - non-cash