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Company research11 Apr 2024
Companies with IPO in 2020: COVID-19 Impact and Market Volatility
An overview of the market sentiment and IPO landscape as the COVID-19 pandemic sent the markets into a period of volatility.
Lemonade
Lemonade (LMND) investor relations material
Lemonade Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue rose 73% to $336.1M and IFP grew 34% to $1,550.8M; gross profit reached a record, while adjusted EBITDA loss narrowed to $20.4M.
Car IFP grew 63% YoY; nationwide Renters availability, geographic expansion and cross-sales supported growth.
Financial highlights
Revenue rose 73% to $336.1M; gross profit was $118M and adjusted gross profit was $120.5M, up 48% and 49%, respectively.
Net loss was $43.7M, or $0.56 per share, versus $37.5M, or $0.51 per share; adjusted EBITDA loss improved to $20.4M from $25.6M.
Adjusted free cash flow was positive for a sixth consecutive quarter at $27M; nine-month operating cash flow was positive at $3.3M versus $37.2M used a year earlier.
Nine-month revenue rose 74% to $888.5M; net loss narrowed 15% to $122.9M from $143.8M, and adjusted EBITDA loss narrowed to $56.2M from $113.5M.
Net earned premium rose 111% to $294.8M; gross written premium increased 35% to $450.7M.
Outlook and guidance
Q4 2026 guidance: IFP growth of 33% at the high end of the range, revenue growth of ~52%, and positive adjusted EBITDA of $5M–$9M.
FY 2026 revenue growth guidance was 67%; annual adjusted EBITDA profitability remains expected in FY 2027.
Growth-spend growth is expected to slow significantly from Q4 2026, although absolute growth spend may rise in 2027; Car and bundling are expected to drive the next growth phase.
Pet loss-ratio pressure is expected to moderate as rate increases earn through over several quarters; G&A growth is expected to moderate after Q2 2027.
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Latest events from Lemonade
- Q4 2026 EBITDA profitability on track, with cross-selling and AI-enabled growth ahead.LMND
FT Partners FinTech Conference - Targeting 30%+ growth, expanding cross-sell and AI capabilities, and nearing profitability milestones.LMNDKBW Insurance Conference 2026
- Accelerating growth, AI-driven efficiency, and positive EBITDA signal a strong outlook.LMNDOppenheimer 29th Annual Technology, Internet & Communications Conference
- Accelerating IFP growth, AI-driven efficiency, and $250M financing drive profitability outlook.LMNDQ2 2026
- AI-driven strategy, operational efficiency, and global expansion fuel sustained competitive advantage.LMNDCitizens JMP Technology Conference 2026
- Tech-driven growth, AI-powered pricing, and global expansion fuel robust financial outlook.LMNDMorgan Stanley US Financials Conference 2026
- AI-powered automation drives efficiency and growth, outpacing legacy insurers in cost and service.LMNDPiper Sandler Global Exchange and Fintech Conference
- Directors and auditor confirmed, executive pay approved, no stockholder questions submitted.LMNDAGM 2026
- Q2 2024 delivered strong growth, improved loss ratios, and positive net cash flow.LMNDQ2 2024
Next Lemonade earnings date
Investor Day 202617 Nov, 2026
Lemonade
Next Lemonade earnings date
Investor Day 202617 Nov, 2026
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Frequently asked questions
An Innovative Insurance Company
Lemonade Inc is a New York-based insurance company that has made a name for itself in the insurance industry due to its innovative use of technology and unique business model. Leveraging artificial intelligence, behavioral economics, and a customer-centric approach, Lemonade is redefining the way people think about and engage with insurance. Here's a closer look at Lemonade's journey, its services, and its impact on the insurance sector.
A Fresh Approach to Insurance
Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade set out to disrupt the traditional insurance industry by offering a more transparent, efficient, and customer-friendly approach. With its headquarters in New York and operating in multiple U.S. states as well as several European countries, Lemonade has quickly become a recognized name in the insurance space. Today, they compete with larger and more established insurance firms such as Allstate, Metlife, and other large players in the US insurance market.
A New Way of Doing Business
Lemonade's services revolve around various insurances for vehicles, homeowners and renters, pet owners' insurance, and more. Their platform's formula for success lies in the integration of cutting-edge technology, particularly AI and machine learning. Customers can purchase policies and file claims through Lemonade's app or website, and the process is simplified to an extraordinary degree. An AI algorithm (named Maya) handles most of the underwriting and claims processing, enabling a faster, more streamlined experience. In some cases, claims can be paid within a matter of minutes, a feat unheard of in traditional insurance processing.
Giving Back
Furthermore, Lemonade's commitment to transparency is manifested through its unique flat-fee model. Unlike conventional insurance companies that might be perceived as benefiting from denied claims, Lemonade takes a fixed percentage of premiums for expenses and profits, with the remainder going into a pool for claims. Any money left in the pool at the end of the year goes to charitable causes chosen by policyholders, aligning the interests of the company with those of its customers. This is something that has been incredibly well received, especially amongst younger generations of customers.