Lemonade's best quarter ever: Q4 IFP $944M (+26%), gross loss ratio 63%, Adj. FCF $27M

Lemonade, Inc.

2024-FY EPS reported -$2.85 revenue$526,500,000

FY 2024: IFP $944M (+26% YoY), revenue +29%, gross profit nearly doubled to $167M, Adj. EBITDA loss ($150M) improved 13%.
Q4 2024: Gross profit $64M (+90% YoY), gross margin 43% (+14pts); Adj. EBITDA loss ($24M) improved 18%; net loss ($30M) improved 29%.
CA wildfires estimated to cause $45M gross losses in Q1 2025, $20M Adj. EBITDA impact; company maintains FY25 Adj. EBITDA loss guidance of ($140)-($135)M.
Pet insurance IFP $283M (+57% YoY); Synthetic Agent program extended to Dec 2026, $200M additional availability, net outstanding $83M.
FY25 guidance: IFP $1,203-1,208M (+28% growth), revenue $655-657M, Q1 Adj. EBITDA loss ($49)-($46)M including wildfire impact.

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