@bjmtweets
Joined February 2012
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$RDDT Wall Street estimates for Q3'2026 Earnings is Thursday after close
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Intense short interest for $UPST while they are near a 52-week low Upstart is currently shorted about 50% to 4x more than other fintechs.
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Pretty good $ROOT proof point that they have pricing down when they are the cheapest in 17 states for full coverage, while also being profitable with low GLR.
Root Insurance@RootInsuranceOct 8
Replying to @Experian
@Experian analyzed insurance pricing across the country and named Root the cheapest full coverage car insurance in 17 states. experian.com/blogs/ask-exper…
Graphic titled "Full Coverage Car Insurance: Cheapest in 17 states." Features a U.S. map highlighting 17 states in orange where Root was named the cheapest full coverage car insurance carrier according to Experian data. Highlights include states across the West, Midwest, and South, such as California, Oregon, Arizona, New Mexico, Oklahoma, Louisiana, Mississippi, Alabama, Tennessee, Kentucky, West Virginia, Maryland, Indiana, Missouri, Arkansas, Montana, and Washington. Includes Root logo and Experian source attribution.

ALT Graphic titled "Full Coverage Car Insurance: Cheapest in 17 states." Features a U.S. map highlighting 17 states in orange where Root was named the cheapest full coverage car insurance carrier according to Experian data. Highlights include states across the West, Midwest, and South, such as California, Oregon, Arizona, New Mexico, Oklahoma, Louisiana, Mississippi, Alabama, Tennessee, Kentucky, West Virginia, Maryland, Indiana, Missouri, Arkansas, Montana, and Washington. Includes Root logo and Experian source attribution.

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$LMND, $ROOT, and $HIPO capitalized software development costs by year, using figures from their SEC filings: Lemonade started out capitalizing the least of the three, at just $1.1M in the year before its IPO. But they've ramped significantly in recent years. In 2025, capitalized software development cost was $42.4M, roughly 3x the other insurtechs. I imagine Lemonade's engineering organization and development priorities look considerably different today than they did at previous Investor Days. This doesn't tell us who has the better technology, but it does show who's capitalizing the most software development. I suspect $LMND has built a lot in the past 2 years that we don't really know about. Hope to hear more from their investor day (I'll be watching on YouTube this year, not in person). Note: Unclear to me if this is total software capitalized or by year. Consult your own LLM/accounting.
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$LMND some additional items from the 10K that deserve a post You can view claim payouts as well as incurred loss tables by year by line. Here is Pet - You can see for Pet 98% of losses are paid in year 1 of when the accident occurred.
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Here's the Car "Incurred loss chart" mentioned previously. Also shows the number of total reported claims by accident year.
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There's a table for home and renters, but it's combined, and those lines are very different, so a little less informative. There is, however, some good information on costs broken down by major storm events. See below. Again, all useful information you will find in the 10K.
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#5/15 Sometimes key vendors are listed. You might find this useful or not depending on the business. Lemonade uses AWS for hosting for instance.
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#15/15 G&A spending Again, here is a breakdown. Can see how much increase in personal, and interest expense for synthetic agents, etc...
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There's a lot more then this, and I may followup with some more detailed items deserving their own post. The beginning of a 10K also breaks down the general investment thesis, which most investors already know.
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