Lemonade Q1 IFP $419M up 66% YoY; net loss $74.8M; guides FY22 IFP $535-545M ex-Metromile

Lemonade, Inc.

2022-Q1 EPS reported -$1.21 revenue$44,300,000

IFP at $419M, up 66% YoY; customers up 37% to 1.5M; premium per customer $279 (+22%).
Revenue $44.3M (+89%); adjusted gross profit $16.3M (+226%); gross loss ratio 90% vs 121% prior year.
Net loss $74.8M ($1.21/sh) vs $49M loss; adjusted EBITDA loss $57.4M vs $41.3M loss.
Q2 guidance: IFP $445-450M, adj EBITDA loss $70-65M; FY22 IFP $535-545M (ex-Metromile), adj EBITDA loss $280-265M.
Illinois mega-bundle customers show 40% higher bundle rates; overall annual dollar retention 82%.

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