---
schema_version: "secwatch.filing_event.v1"
accession: "0001691421-24-000054"
form_type: "8-K"
ticker: "LMND"
cik: "0001691421"
company_name: "Lemonade, Inc."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:33:24.263839+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lemonade Q1 2024: revenue +25%, net loss narrows to $47M; pushes cash-flow breakeven to year-end 2024

## Summary
- IFP $794M (+22% YoY), revenue $119M (+25%), gross profit $34.7M (+110%), gross loss ratio 79% (improved 8 pts YoY).
- Net loss ($47.3M) vs ($65.8M) a year ago; adjusted EBITDA loss ($33.9M), improved 33% YoY.
- Cash-flow breakeven target accelerated from H1 2025 to year-end 2024; expects positive cash flow by Q1 2025.
- Customers 2.09M (+13%), premium per customer $379 (+8%), ADR 88% (+1 ppt). Headcount down 11% YoY.
- Guidance: FY 2024 IFP $940-944M, revenue $511-515M, adj EBITDA loss ($155)-($151)M; Q2 IFP $839-841M, revenue $118-120M.

## SEC filing metadata
- accession: 0001691421-24-000054
- form_type: 8-K
- ticker: LMND
- cik: 0001691421
- company_name: Lemonade, Inc.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1691421/000169142124000054/0001691421-24-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1691421/000169142124000054/lmnd-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001691421-24-000054
- JSON: https://secwatch.observer/filing/0001691421-24-000054.json
- Plain text: https://secwatch.observer/filing/0001691421-24-000054.txt

## Key facts
- Earnings Releases
  Lemonade, Inc. reported the three months ended March 31, 2024 results: revenue $119.1 million, net income ($47.3) million. Guidance raised.
  - Period: the three months ended March 31, 2024
  - Revenue: $119.1 million
  - Net income: ($47.3) million
  - Guidance: raised
  - Result: reported results
  source text: increased by $33.7 million or 22% as compared to the first quarter of 2023, primarily due to the increase of IFP earned during the quarter. 8 Revenue First quarter revenue of $119.1 million increased by $23.9 million or 25% as compared to the first quarter of 2023, primarily due to the increase of gross earned premium, ceding commission income and net investment
  evidence_url: https://www.sec.gov/Archives/edgar/data/1691421/000169142124000054/0001691421-24-000054-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.