Lemonade reported a second-quarter loss ratio of 60% and a 76% rise in gross profit, though its stock remains 49% below its 52-week high. In-force premium rose 32% year over year, the 11th straight quarter of acceleration, while total customers grew 23% to more than 3.3 million and premium per customer rose 8%. The insurance technology company posted a net loss of $43 million for the quarter, only slightly better than the $44 million loss a year earlier. Management reaffirmed its expectation of becoming profitable on an adjusted EBITDA basis in the fourth quarter and has said it expects positive net income in 2027. Lemonade also noted its loss adjustment expense ratio fell to 5% this year from 7% last year, ahead of schedule and below the 9% industry average.
Lemonade IncLemonade reported a 76% jump in gross profit, a 60% loss ratio, and reaffirmed Q4 adjusted EBITDA profitability guidance.
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