secwatch.observer — SEC 8-K summary
======================================

Issuer:     Lemonade, Inc. (LMND)
CIK:        0001691421
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001691421-24-000054
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1691421/000169142124000054/0001691421-24-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1691421/000169142124000054/lmnd-20240430.htm
  HTML page:      https://secwatch.observer/filing/0001691421-24-000054

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