Root, Inc. (NASDAQ: ROOT), a tech-driven insurance company, witnessed a remarkable pre-market surge of 21.42% on Thursday. This substantial rally was fueled by the company's impressive fourth-quarter and full-year 2024 financial results, which marked a significant milestone in its journey towards profitability.

In a standout performance, Root reported a Q4 revenue of $326.7 million, surpassing analysts' consensus estimate of $291 million. More notably, the company delivered an earnings per share (EPS) of $1.62, a remarkable outperformance compared to the Street's expectation of a loss of $0.44 per share.

The real highlight, however, was Root achieving positive net income for the second consecutive quarter and marking a full-year net profit of $31 million, reflecting a substantial improvement of $178 million over the previous fiscal year. This remarkable turnaround can be attributed to the difficult yet necessary decisions made in 2022 and 2023, paving the way for what the company called a "landmark year" in 2024.