Lemonade Q3 revenue $74M (+107%), net loss $91M; gross loss ratio jumps to 94%

Lemonade, Inc.

2022-Q3 EPS reported -$3.69 revenue$168,300,000

Revenue $74.0M (+107% YoY); net loss $91.4M ($1.37/sh) vs $66.4M ($1.08).
In-force premium $609.2M (+76%); customers 1.78M (+30%); premium per customer $343 (+35%).
Gross loss ratio 94% (up from 77%) due to Metromile integration and Hurricane Ian; net loss ratio 105%.
Q4 2022 guidance: IFP $612-615M; revenue $77-80M; adj. EBITDA loss ($65)-($62)M.
Chewy partnership (Spring 2023) for pet insurance; UK contents product launched; growth slowdown to 20-25%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lemonade, Inc. reported the quarter ended September 30, 2022 results: revenue $74.0 million, net income Net loss for the period was $91 million.. Guidance reaffirmed.

Period: the quarter ended September 30, 2022
Revenue: $74.0 million
Net income: Net loss for the period was $91 million.
Guidance: reaffirmed
Result: reported results

Exact text from the filing

by $56.8 million or 71% as compared to the third quarter of 2021, primarily due to the increase of in force premium earned during the quarter. Revenue Third quarter revenue of $74.0 million increased by $38.3 million or 107% as compared to the third quarter of 2021, primarily due to the increase of gross earned premium during the quarter, and to a lesser extent, a

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Source: SEC EDGAR

accession 0001691421-22-000080

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