Revenue: As of FY2026 Q2, the actual value is USD 294.4 M.

EPS: As of FY2026 Q2, the actual value is USD -0.56, beating the estimate of USD -0.5627.

EBIT: As of FY2026 Q2, the actual value is USD -36.4 M.

Key Metrics (Q2 2026 vs Q2 2025)

Lemonade, Inc. reported an In Force Premium (IFP) of $1.43 billion, reflecting a 32% increase from $1.083 billion in Q2 2025. The total customer count expanded by 23% to 3,308,666, with premium per customer increasing 8% to $433. Annual Dollar Retention (ADR) improved by 1 percentage point to 85%. Gross Earned Premium (GEP) increased by 32% to $332.4 million, and revenue saw a significant 79% increase to $294.4 million. Gross Profit rose 76% to $113.2 million, while Adjusted Gross Profit increased 74% to $114.4 million. The Net Loss was - $43.4 million, a slight improvement from - $43.9 million in Q2 2025. Adjusted EBITDA loss improved by 54% to - $18.7 million. Operating expense, excluding net loss and loss adjustment expense, increased by 41% to $182.2 million, with growth spend for customer acquisition at $64.4 million. The LAE ratio decreased to a record low of 5% in Q2 2026, down from 13% in Q3 2022. The Gross Loss Ratio was 60%, an improvement from 67% in Q2 2025, and the Net Loss Ratio improved to 61% from 69%. Gross Profit Margin was 38%, and Adjusted Gross Profit Margin was 39%. The Ratio of Adjusted Gross Profit to Gross Earned Premium increased to 34% from 26%. Cash, cash equivalents, and investments totaled approximately $1.2 billion at June 30, 2026, with $330 million required for regulatory surplus at its insurance subsidiaries. Adjusted Free Cash Flow for the quarter was $18.8 million, compared to $25.0 million in Q2 2025. Stock-based compensation expense for Q2 2026 was $24.5 million.

Key Metrics (Six Months Ended June 30, 2026 vs 2025)

For the six months ended June 30, 2026, Lemonade, Inc. reported total revenue of $552.4 million, up from $315.3 million in the prior year period. Gross Earned Premium was $638.6 million, compared to $485.9 million in the same period of 2025. Gross Profit increased to $213.3 million from $102.9 million, and Adjusted Gross Profit was $215.2 million, up from $111.6 million. Net Loss improved to - $79.2 million from - $106.3 million, and Adjusted EBITDA loss improved to - $35.8 million from - $87.9 million. The Gross Profit Margin was 39%, up from 33%, and the Adjusted Gross Profit Margin was 39%, up from 35%. The Ratio of Adjusted Gross Profit to Gross Earned Premium was 34%, compared to 23% in the prior year period. The Gross Loss Ratio improved to 61% from 73%, and the Net Loss Ratio improved to 62% from 75%. Cash flow from operating activities was - $4.0 million, an improvement from - $41.7 million in the prior year period. Adjusted Free Cash Flow for the six months was $36.2 million, compared to - $6.0 million in the prior year period.

Outlook / Guidance

Lemonade, Inc. anticipates achieving positive Adjusted EBITDA in the fourth quarter of 2026. For Q3 2026, the company projects In Force Premium between $1,537 million and $1,540 million, Gross Earned Premium between $356 million and $359 million, Revenue between $323 million and $326 million, and an Adjusted EBITDA loss between - $23 million and - $20 million. The full-year 2026 guidance includes In Force Premium between $1,632 million and $1,639 million, Gross Earned Premium between $1,374 million and $1,378 million, Revenue between $1,214 million and $1,220 million, and an Adjusted EBITDA loss between - $51 million and - $47 million.