Lemonade

Q2 FY2026 EarningsQ2 FY26 beat consensus on both top and bottom lines: total revenue was $294.4M vs. $291.5M expected, and GAAP EPS was -$0.56 vs. -$0.56 expected (better than the -$0.58 midpoint). Net earned premium surged 124% YoY to $252M, primarily driven by a strategic reduction in the cession rate within the company's reinsurance program and 34% growth in Gross Written Premium. Net loss of $43.4M showed marginal YoY improvement despite a significant increase in retained risk, while Adjusted EBITDA of -$18.7M significantly outperformed consensus expectations.