In this video, I will go over Lemonade's (LMND) first-quarter earnings. Unlike last quarter, this one was much better and the future looks brighter for shareholders.
- In-force premium (IFP) grew 66% year over year (YOY) with IFP of $419 million and over 1.5 million customers, up 37% YOY.
- Premium per customer increased 22% YOY to $279. Gross earned premium increased 71% YOY to $96 million.
- Gross loss ratio was 90%, which is 31% lower than a year ago (due to the Texas Freeze).
- In the future, the company expects loss ratios across all Lemonade product lines to be below 75%.
- This was the first quarter where all Lemonade products were available in a market.
- The company expects 2022 to be the year of peak losses.
- The acquisition of Metromile should be completed in the second quarter.
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*Stock prices used were the closing prices of May 9, 2022. The video was published on May 10, 2022.
