Lemonade (LMND) Company Report

Lemonade Inc. reported strong third-quarter 2025 results, with revenue of $194.5 million, representing a 42% year-over-year increase.
The company narrowed its net loss per share to $0.51 and raised its full-year revenue guidance to between $727 million and $732 million.
Lemonade's in-force premium (IFP) increased by 30%, and its customer base grew to 2.87 million in Q3 2025, up from 2.31 million a year ago.
The net loss ratio improved significantly to 64% in Q3 2025 from 81% in Q3 2022, indicating better risk management and underwriting performance.
Analysts maintain a Hold rating due to concerns over sustainable profitability, despite the positive performance.

Nov 5, 2025, 6:59 PM

Lemonade Reports Strong Q3 2025 Results with Revenue and Premium Growth

LMND

Earnings

Guidance Update

Revenue Acceleration/Inflection

Lemonade (LMND) reported strong Q3 2025 financial results, with in force premium growing 30% year-on-year to $1.16 billion and revenue increasing 42% to $195 million.
The company achieved significant profitability improvements, including gross profit more than doubling to $80 million and an adjusted EBITDA loss improving by 50% year-on-year to $26 million.
Operational highlights include adding a record 176,000+ net new customers and achieving a company-wide gross loss ratio of 62%, their lowest ever.
Lemonade raised its full-year 2025 guidance for in force premium, gross earned premium, revenue, and adjusted EBITDA loss, while maintaining its expectation for positive adjusted EBITDA in Q4 2026.
The company continues to focus on maximizing gross profit dollars and leveraging AI to drive efficiency and transform its cost structure.

Nov 5, 2025, 1:00 PM

Lemonade, Inc. Announces Q3 2025 Financial Results and Raised Full-Year Guidance

LMND

Earnings

Guidance Update

Revenue Acceleration/Inflection

Lemonade, Inc. reported Q3 2025 In Force Premium (IFP) of $1.16 billion, a 30% year-over-year increase, and revenue of $194.5 million, up 42% from the prior year.
The company demonstrated significant profitability improvements, with gross profit increasing 113% year-over-year to $80 million and gross profit margin reaching 41%. Adjusted EBITDA loss improved 48% year-over-year to ($26) million.
Operational efficiency improved, with the gross loss ratio at 62%, an 11 percentage point improvement year-over-year, and the Loss Adjustment Expense (LAE) ratio nearly halving to 7% over the past three years.
Lemonade raised its FY 2025 guidance for IFP, Gross Earned Premium, Revenue, and Adjusted EBITDA, and expects positive Adjusted Free Cash Flow for FY 2025. The company also projects positive Adjusted EBITDA for the full quarter in Q4 2026.

Nov 5, 2025, 12:03 AM

Lemonade launches car insurance in Indiana

LMND

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

Lemonade has launched its Lemonade Car insurance product in Indiana, marking the latest step in its U.S. expansion.
This launch is part of a series of state rollouts planned for 2025, bringing Lemonade Car's availability to states representing approximately 42% of the U.S. car insurance market.
Lemonade Car is a key growth driver for the company, with its sequential in-force premium (IFP) growth outpacing the rest of Lemonade's book in Q1 2025.
Indiana's car insurance market is estimated at $5 billion annually, presenting a significant opportunity for Lemonade.

Jul 7, 2025, 6:28 PM

Lemonade Adjusts Reinsurance Program and Reports Q1 2025 Results

LMND

Revenue Acceleration/Inflection

Lemonade has renewed its global reinsurance program, effective July 1, significantly reducing the ceded proportion of its quota share reinsurance from approximately 55% to 20%.
This strategic adjustment is driven by the company's improved underwriting capabilities, diversification, and loss ratio trajectory, allowing it to retain more risk, improve margins, and maintain a capital-light structure.
In Q1 2025, Lemonade reported total revenue of $151.2 million, marking a 27% increase compared to Q1 2024, although the company recorded a net loss of $62.4 million for the quarter.
Following the announcement, Lemonade's stock price rose 4.8%, reflecting a positive investor response to the company's enhanced financial strategy.

Jun 30, 2025, 8:20 PM

Lemonade Inc Reports Strong Q1 2025 Results

LMND

Earnings

Guidance Update

Revenue Acceleration/Inflection

In-Force Premium reached $1,008 million, up 27% YoY and surpassing the $1B milestone.
Revenue climbed by 27% to $151.2 million, with a stable expense base supporting ongoing operational improvements.
Car business is accelerating with conversion rates up 60% and doubled cross-sell volumes, bolstered by strategic geographic expansion (e.g., Colorado launch).
Adjusted EBITDA loss stood at ($47) million and net loss at ($62) million, reflecting wildfire impacts.
The company reaffirms its guidance to reach adjusted EBITDA breakeven by Q4 2026 and anticipates a fully profitable year in 2027, underpinned by strong cash flow dynamics.

May 6, 2025, 12:01 PM

Earnings Transcripts

Quarterly earnings call transcripts for Lemonade.

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