Bumping this up as ROOT had a monster quarter. All underlying metrics moved in a strong direction its first profitable quarter. Shareholder letter here: https://ir.joinroot.com/static-files/6f21bcfa-1ca8-47bb-9dbf-9f850e9e4ee1.
Taking a look, it does have a bit of an UPST vibe: using technology to identify safer customers than traditional underwriting methods. However, ROOT already passed through it’s moon and crash, which means it can valued under more reasonable considerations. To @wsm007 's points, it does look like promised efficiencies are taking hold. To @GauchoRico 's points, the question becomes just how much runway is left for new policy growth (which again gives me an UPST “Loans Transacted” vibe).
Anyone following closely enough to chime in? @ryshab?