Shares of Root, Inc. (NASDAQ:ROOT) surged 12.61% in after-hours trading on Wednesday, following the release of the company's impressive second-quarter financial results. The insurance technology company significantly outperformed analyst expectations, demonstrating strong growth and improved profitability.

Root reported quarterly earnings of $1.29 per share, dramatically surpassing the analyst consensus estimate of $0.23 by an astounding 451.28%. This represents a remarkable turnaround from the same period last year when the company posted a loss of $0.52 per share. The earnings beat signals a significant improvement in Root's operational efficiency and profitability.

In addition to the earnings beat, Root's quarterly sales also exceeded expectations. The company reported revenue of $382.9 million, beating the analyst consensus estimate of $347.675 million by 10.13%. This represents a robust 32.40% increase compared to sales of $289.2 million in the same quarter last year, indicating strong growth in Root's customer base and premium volume.