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Inferra AI / Company / LMND

Lemonade, Inc.

LMND · Financials

Last earnings Jul 29, 2026

Key results

Revenuequarter

29%

Here s a look at the key metrics: Top Line: At $1.08 billion, In Force Premium grew 29% YoY our seventh consecutive quarter of growth acceleration while Revenue grew 35%.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Gross marginquarter

39%

Gross Profit: Increased by 109% year on year to $64.3 million, while gross margin improved by 14 points to 39%.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

8 Revenue Second quarter revenue of $164.1 million increased by $42.1 million or 35% as compared to the second quarter of 2024, primarily due to the increase of gross earned premium, ceding commission income, and net investment income.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Cash Flow Adjusted free cash flowquarter

$25 million

Adjusted Free Cash Flow Adjusted free cash flow in the second quarter was $25 million, as compared to $2 million in the second quarter of 2024.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

ADJUSTED EBITDA3 ($s in m) Q2 23 Q2 24 Q2 25 18% 5% SALES AND MARKETING2 OTHER INSURANCE EXPENSE TECHNOLOGY DEVELOPMENT GENERAL AND ADMINISTRATIVE $931 $979 $1,021 $996 $1,032 $2 $38 $27 ($31) $25 ($12) $16 $14 ($47) $6 Trends 33 TOTAL CASH & INVESTMENTS ($s in m) Q4 24 Q1 25 Q2 25Q3 24Q2 24 ADJUSTED FREE CASH FLOW1 ($s in m) 1 We define adjusted free cash flow ("Adj.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

ADJUSTED free cash flowquarter

79%

ADJUSTED FREE CASH FLOW CASH FLOW FROM OPERATING ACTIVITIES Q4 24 Q1 25 Q2 25Q3 24Q2 24 Insurance Supplement Q2 2025 34 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 LOSS RATIOS Gross loss ratio 79% 73% 63% 78% 67% Gross loss ratio ex-CAT 62% 68% 62% 59% 60% TTM gross loss ratio 79% 77% 73% 73% 70% Net loss ratio 79% 81% 62% 82% 69% GROSS LOSS RATIO BREAKDOWN Attritional gross loss ratio 58% 61% 59% 59% 58% CAT (excl.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

AI analysis

Q2 2025 · reported Aug 5, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Gross margin · Q2 2025
39%
EX-99 · Aug 5, 2025
Cash Flow Adjusted free cash flow · Q2 2025
$25M
+1150.0% +$23M vs year ago computed from stated figures
EX-99 · Aug 5, 2025

Headline figures

MetricQ2 2025Prior qtrYear ago
Revenue29%——
Gross margin39%——
Cash Flow Adjusted free cash flow$25 million—$2 million
ADJUSTED free cash flow79%——

EX-99 · Aug 5, 2025

Guidance · company-stated

Direction: Raised

Revenue — Raised

“Looking ahead, we have raised full year 2025 IFP, GEP, and Revenue guidance while reiterating full year 2025 Adj.”

Revenue — Raised

“We have raised FY IFP, GEP, and Revenue guidance while reiterating FY Adj.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Gross margin39%

Cash flow & capex

Cash Flow Adjusted free cash flow$25M
ADJUSTED free cash flow79%

Capital allocation

We define Free cash flow ("FCF") as cash flow from operating activities, less capital expenditures.

FCF") as cash flow from operating activities, less capital expenditures plus net borrowings under financing agreement.

Company-stated claims

Feb 25, 2026

Historical · 3.8x · subscribers_users

“The remaining 13% or so of pet insurance policies were sold to existing customers, whose median premium per customer grew roughly 3.8x with little to no incremental customer acquisition costs.”

10-K · Feb 25, 2026
General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Lemonade, Inc. Q2 2025 — Here s a look at the key metrics: Top Line: At $1.08 billion, In Force Premium grew 29% YoY our seventh consecutive quarter of growth acceleration while Revenue grew 35%.

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue — Raised (“raised”)
“Looking ahead, we have raised full year 2025 IFP, GEP, and Revenue guidance while reiterating full year 2025 Adj.”

Revenue — Raised (“raised”)
“We have raised FY IFP, GEP, and Revenue guidance while reiterating FY Adj.”

Classified from the release's primary full-year outlook statement.

Capital allocation

We define Free cash flow ("FCF") as cash flow from operating activities, less capital expenditures.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

FCF") as cash flow from operating activities, less capital expenditures plus net borrowings under financing agreement.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

FCF") as cash flow operating activities, less capital expenditures plus net borrowings under financing agreement.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

government obligations 29.0 ( 0.1 ) 28.9 Total $ 772.4 $ 0.1 $ ( 4.0 ) $ 768.5 December 31, 2025 Corporate debt securities $ 499.2 $ 2.0 $ $ 501.2 U.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

government obligations 21.0 ( 0.1 ) 21.0 ( 0.1 ) Total $ 640.2 $ ( 4.0 ) $ $ $ 640.2 $ ( 4.0 ) Less than 12 Months 12 Months or More Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses December 31, 2025 Corporate debt securities $ 45.9 $ $ 4.9 $ $ 50.8 $ U.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Restricted investments include certain investments in debt securities and short-term investments of $ 82.5 million as of June 30, 2026 and $ 81.5 million as of December 31, 2025.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Strategy & priorities

2 Grow the business and scale the operation Executing against the strategy presented at November 2024 Investor Day 3 Sustained operating leverage driven by AI and automation 7 quarters of IFP growth acceleration alongside sustained gross loss ratio improvement yields a near tripling in gross profit 18% 20% 22% 22% 24% 26% 27% 29% Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 88% 85% 83% 79% 77% 73% 73% 70% Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 TTM GROSS LOSS RATIO IFP VS OPEX EXCL GROWTH SPEND ($s in m) $87 $80 $609 $1,083 $0 $100 $200 $300 $500 $600 $700 $800 $900 $1,000 $1,100 $1,200 OPEX EXCL.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Geographic expansion has been another growth tailwind.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

This strength delivered concurrently to growth acceleration illustrates a critical pillar of our strategy: broad telematics adoption yields enhanced pricing segmentation that allows us to evaluate risk with precision, driving down both prices for good risks and loss ratios.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

We view premium per customer as an important metric to assess our financial performance because premium per customer reflects the average amount of money our customers spend on our products, which helps drive strategic initiatives.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

2 For illustrative purposes of representing transition concept, assumes subsequent reinsurance renewal is at 20% quota share, though our strategy may evolve between now and then.

SEC original ↗Lemonade, Inc. — Earnings release (8-K exhibit)EX-99Aug 5, 2025

Risks & headwinds

Legal Proceedings 49 Item 1A.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Denial of claims or our failure to accurately and timely pay claims could materially and adversely affect our business, financial condition, results of operations, and prospects.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Failure to maintain our risk-based capital at the required levels could adversely affect the ability of our insurance subsidiaries to maintain regulatory authority to conduct our business.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

We rely on artificial intelligence, telematics, mobile technology, and our digital platforms to collect data and any legal or regulatory requirements that prohibit or restrict our ability to collect or use this data could adversely affect our business.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Litigation and legal proceedings filed by or against us and our subsidiaries could have a material adverse effect.

SEC original ↗Lemonade, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Arthur J. Gallagher & Co. (AJG) FinancialsSun Life Financial (SLF) FinancialsRaymond James Financial (RJF) FinancialsAflac (AFL) FinancialsING Group (ING) FinancialsNorthern Trust (NTRS) FinancialsCincinnati Financial (CINF) FinancialsCoinbase (COIN) Financials
Documents

Filings

30 documents

Earnings releases

9 documents

Presentations

0 documents

No presentations for Lemonade, Inc. are held in this edition of the library.

Transcripts

0 documents

No transcripts for Lemonade, Inc. are held in this edition of the library.

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