Lemonade Earnings: The Path to Profitability

In this video, I will go over Lemonade's (LMND 1.44%) 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. 

For the full insights, do watch the video, consider subscribing, and click the special offer link below.

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