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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 306M | 5.7% |
| Gross Profit | 254M | 7.3% |
| Cost of Revenue | 52M | 1.5% |
| Operating expense | 271M | 4.9% |
| Net Income | 23M | 392.3% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 1.56B | 4.4% |
| Total Liabilities | 1.27B | 2.9% |
| Total Equity | 182M | 20.2% |
| Shares Outstanding | 15M | 0.7% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 49M | 21.1% |
| Cash from investing | -40M | 80.9% |
| Cash from financing | -2M | 85.6% |
EPS
Financial Highlights for Root Insurance in Q3 '24
Root Insurance reported a revenue of 306M, which is a 5.7% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 254M, marking a 7.3% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 52M, a -1.5% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 271M, showing a -4.9% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 23M, showing a 392.3% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
It was a positive quarter for Root Insurance with growth in revenue, gross profit, and net income.
