In this video, I will go over Lemonade's (LMND 1.43%) second-quarter earnings, which surprised on the upside yet again. 

  • In-force premium (IFP) grew 54% year over year (YOY) with IFP of $458 million and over 1.5 million customers, up 31% YOY.
  • Premium per customer increased 18% YOY to $290. Gross earned premium increased 60% YOY to $107 million.
  • Gross loss ratio was 86%, 12% higher than a year ago but lower quarter over quarter.  
  • Upsells and cross-sells keep increasing each quarter. 
  • In the future, the company still expects loss ratios across all Lemonade product lines to be below 75%. 
  • The company expects Q3 2022 to see peak losses.
  • The acquisition of Metromile is completed and Lemonade Car now makes up 20% of the company's book, up from 1%. 
  • The company will hold an investor day in November, during which it will show the company's path to profitability. 

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*Stock prices used were the closing prices of Aug. 8, 2022. The video was published on Aug. 9, 2022.