Root (ROOT) Q2 FY26 earnings call

Root delivered strong Q2 FY26 profitability, driven by a 92.1% net combined ratio and improved expense management, despite a challenging and competitive direct market. The company remains disciplined, prioritizing profitable growth and investing in AI, geographic expansion, and diversified distribution channels, with a new pricing model expected to launch in Q4. Management expects PIF to be relatively flat year-over-year for FY26 if current market conditions persist.