secwatch.observer — SEC 8-K summary
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Issuer:     Lemonade, Inc. (LMND)
CIK:        0001691421
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0001691421-22-000052
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lemonade Q2 beats expectations: IFP $457.6M, Net Loss $67.9M; guides FY22 adj EBITDA loss ($245-240)M; Metromile closed
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- Q2 results ahead of expectations: IFP $457.6M (+54% YoY), revenue $50M (+77%), Net Loss $67.9M ($1.10/share), Adj EBITDA loss $50.3M.
- Metromile acquisition closed July 28 for ~$145M in stock; added $110M IFP, >$155M cash, 49 state licenses.
- FY22 consolidated guidance: IFP $610-615M, Adj EBITDA loss ($245-240)M, improved from prior standalone ($280-265)M; peak losses expected Q3 2022.
- Gross loss ratio improved to 86% from 96% in Q4 2021; cross-sells/upsells 23% of sales; LTV6 model deployed to rebalance portfolio.
- Company fully funded to profitability; moderated growth spend and hiring; expects to achieve profitability without further capital raise.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1691421/000169142122000052/0001691421-22-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1691421/000169142122000052/lmnd-20220808.htm
  HTML page:      https://secwatch.observer/filing/0001691421-22-000052

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer