<p>在经历了数月对关税和经济的担忧后，市场正在反弹。许多公司的最新财报讲述了增长和积极前景的故事，投资者们也松了一口气。</p>
<p>许多股票因对未来的乐观预期而飙升，这些股票推动了市场的上涨。如果在市场下跌时你感到紧张，可能错过了一些绝佳的交易机会。好消息是，总有一些优秀的股票可以找到。此外，如果你是长期投资者，寻找最佳交易机会可能并不是那么重要。你想要找到具有长期机会的优秀股票，并以合理的价格购买。</p>
<p>保险公司 <strong>Lemonade</strong>(LMND 3.39%) 在发布第二季度财报后表现出色，自公告以来已经上涨了 38%。然而，它仍然比几年前的高点低 72%，并且有许多原因可能会继续飙升。</p>
<h2>模型正在发挥作用</h2>
<p>Lemonade 是一种不同类型的保险公司，建立在数字基础上，利用人工智能（AI）和机器学习有效定价保单。它已经这样做了十年，尽管从一开始就展示了增长和潜力，但其模型最终显示出真正的有效性。</p>
<p>管理层反复表示，随着数据的增加和算法的改进，模型的效果会随着时间的推移而更好。随着过去几年人工智能的爆炸性增长，技术不断进步，Lemonade 的投资正在获得回报。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjcxODMva2lkcy13aXRoLWEtbGVtb25hZGUtc3RhbmQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjcxODMva2lkcy13aXRoLWEtbGVtb25hZGUtc3RhbmQuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<p>它在 2025 年第二季度报告的结果几乎完美，增长加速，亏损缩小。在保单有效保费（IFP）这一保险公司顶线指标上，同比增长 31%，超过 10 亿美元，客户数量增加 25%，接近 270 万。</p>
<p>净亏损一直是一个拖累，但大幅缩小，从去年的 5700 万美元减少到今年的 4400 万美元。值得注意的是，其运营费用几乎没有变化，而 IFP 持续攀升，这表明在某个时刻可能会非常盈利。目前，它仍然有较大的营销费用和对平台的投资。</p>
<p>损失率——即索赔支付占保费的比例——也显著下降，本季度为 67%，过去 12 个月为 70%。与住房相关的损失率为 60%，因为这些是其最成熟的产品。管理层指出，它正在战略性地推出汽车保险，因为每个新地区都是一个新产品，损失率较高，需要平衡推出，以保持损失率朝着正确的方向发展。</p>
<h2>机会诱人</h2>
<p>如果公司继续展示加速或至少高增长，同时保持运营效率，净利润最终应该会跟随而来。管理层看到将 IFP 提高到 100 亿美元的机会，或是当前水平的 10 倍。</p>
<p>约三分之一的销售是有机的，随着品牌影响力的建立，它将不再像现在这样依赖营销。预计在 2026 年底之前，调整后的息税折旧摊销前利润（EBITDA）将实现正增长，2027 年将实现正净收入。从那时起，预计将出现 “巨额” 利润。</p>
<p>Lemonade 认为它相较于传统保险公司具有优势，因为它是数字化构建的，互联的部分需要最少的人为干预。尽管传统保险公司现在也在使用人工智能，但它们的元素各异，仍然依赖人类保险代理，而 Lemonade 主要依靠聊天机器人。Lemonade 还相较于新的人工智能颠覆者具有优势，因为它已经拥有十年的数据和经验。</p>
<p>其战略是吸引年轻市场并与这些客户共同成长，它已经成为 22 至 40 岁年龄段中最受欢迎的保险品牌。这个年龄段的人刚开始找工作并需要保险，但作为首选品牌，Lemonade 面临着巨大的机会。对于一些有风险偏好的投资者来说，Lemonade 股票可能是一个绝佳的投资。</p>

LMND

<p>Lemonade (LMND) 的股票在强劲的第二季度财报发布后上涨了 38%，但仍比之前的高点低 72%。该公司利用人工智能和机器学习，报告称强制保费同比增长 31%，超过 10 亿美元，客户数量增长 25%，接近 270 万。尽管亏损有所缩小，管理层预计有显著的增长潜力，目标是在 2026 年实现 100 亿美元的强制保费和正的 EBITDA。Lemonade 以年轻人群为目标，定位为 22 至 40 岁年龄段的领先保险品牌，使其成为一个引人注目的长期投资机会</p>

<p>After months of concern about tariffs and the economy, the market is bouncing back. The latest earnings reports from many companies tell a story of growth and positive outlooks, and investors are breathing more easily.</p>
<div class="lb-trans"><p>在经历了数月对关税和经济的担忧后，市场正在反弹。许多公司的最新财报讲述了增长和积极前景的故事，投资者们也松了一口气。</p>
</div><p>Many stocks are soaring based on optimism about the future, and these stocks are driving the gains in the market. If you were nervous while the market was down, you may have missed some excellent bargains. The good news is, there are always some great stocks to find. On top of that, if you're a long-term investor, finding the best bargains may not matter so much. You want to find incredible stocks with a long-term opportunity at a reasonable price.</p>
<div class="lb-trans"><p>许多股票因对未来的乐观预期而飙升，这些股票推动了市场的上涨。如果在市场下跌时你感到紧张，可能错过了一些绝佳的交易机会。好消息是，总有一些优秀的股票可以找到。此外，如果你是长期投资者，寻找最佳交易机会可能并不是那么重要。你想要找到具有长期机会的优秀股票，并以合理的价格购买。</p>
</div><p>Insurance company <strong>Lemonade</strong>(LMND 3.39%) had an amazing week after releasing its second-quarter earnings, and it's already jumped 38% since the announcement. However, it's still 72% off of its highs from a few years ago, and there are many reasons it could continue to soar.</p>
<div class="lb-trans"><p>保险公司 <strong>Lemonade</strong>(LMND 3.39%) 在发布第二季度财报后表现出色，自公告以来已经上涨了 38%。然而，它仍然比几年前的高点低 72%，并且有许多原因可能会继续飙升。</p>
</div><h2>The model is working</h2>
<div class="lb-trans"><h2>模型正在发挥作用</h2>
</div><p>Lemonade is a different kind of insurance company that was built on a digital substrate and uses artificial intelligence (AI) and machine learning to price policies effectively. It's been at it for a decade now, and although it has demonstrated growth and potential from the beginning, its model is finally demonstrating real effectiveness.</p>
<div class="lb-trans"><p>Lemonade 是一种不同类型的保险公司，建立在数字基础上，利用人工智能（AI）和机器学习有效定价保单。它已经这样做了十年，尽管从一开始就展示了增长和潜力，但其模型最终显示出真正的有效性。</p>
</div><p>Management has said repeatedly that the model works better over time as it has more data and its algorithms improve. As AI has exploded during the past few years and the technology keeps getting better, Lemonade's investments are paying off.</p>
<div class="lb-trans"><p>管理层反复表示，随着数据的增加和算法的改进，模型的效果会随着时间的推移而更好。随着过去几年人工智能的爆炸性增长，技术不断进步，Lemonade 的投资正在获得回报。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjcxODMva2lkcy13aXRoLWEtbGVtb25hZGUtc3RhbmQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F827183%2Fkids-with-a-lemonade-stand.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>The results it reported in the 2025 second quarter were nearly flawless, with accelerating growth and narrowing losses. In-force premium (IFP), the top-line metric for insurance companies, increased 31% year over year to more than $1 billion, and customer count increased 25% to almost 2.7 million.</p>
<div class="lb-trans"><p>它在 2025 年第二季度报告的结果几乎完美，增长加速，亏损缩小。在保单有效保费（IFP）这一保险公司顶线指标上，同比增长 31%，超过 10 亿美元，客户数量增加 25%，接近 270 万。</p>
</div><p>The net loss has been a drag, but it narrowed substantially, from $57 million last year to $44 million this year. Notably, its operating expenses have remained little changed while IFP continues to climb, indicating that this could be hugely profitable at some point. Right now, it still has large marketing expenses and investments in the platform.</p>
<div class="lb-trans"><p>净亏损一直是一个拖累，但大幅缩小，从去年的 5700 万美元减少到今年的 4400 万美元。值得注意的是，其运营费用几乎没有变化，而 IFP 持续攀升，这表明在某个时刻可能会非常盈利。目前，它仍然有较大的营销费用和对平台的投资。</p>
</div><p>The loss ratio -- or claims paid as a share of premiums -- has also declined significantly, coming in at 67% in the quarter and 70% for the trailing 12 months. The home-related loss ratio was 60%, since those are its most-seasoned products. Management pointed out that it's launching auto insurance strategically, since each new region is a new product with a higher loss ratio, and it needs to balance the rollout to keep the loss ratio moving in the right direction.</p>
<div class="lb-trans"><p>损失率——即索赔支付占保费的比例——也显著下降，本季度为 67%，过去 12 个月为 70%。与住房相关的损失率为 60%，因为这些是其最成熟的产品。管理层指出，它正在战略性地推出汽车保险，因为每个新地区都是一个新产品，损失率较高，需要平衡推出，以保持损失率朝着正确的方向发展。</p>
</div><h2>The opportunity is enticing</h2>
<div class="lb-trans"><h2>机会诱人</h2>
</div><p>If the company continues to demonstrate accelerating or at least high growth while maintaining operating efficiency, net profit should eventually follow. Management sees the opportunity to increase IFP to $10 billion, or 10 times its current level.</p>
<div class="lb-trans"><p>如果公司继续展示加速或至少高增长，同时保持运营效率，净利润最终应该会跟随而来。管理层看到将 IFP 提高到 100 亿美元的机会，或是当前水平的 10 倍。</p>
</div><p>About a third of its sales are organic, and as it establishes its brand presence, it won't have to rely on marketing as much as it does today. It expects positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) before the end of 2026, and positive net income in 2027. From there, it forecasts &#34;massive&#34; profits.</p>
<div class="lb-trans"><p>约三分之一的销售是有机的，随着品牌影响力的建立，它将不再像现在这样依赖营销。预计在 2026 年底之前，调整后的息税折旧摊销前利润（EBITDA）将实现正增长，2027 年将实现正净收入。从那时起，预计将出现 “巨额” 利润。</p>
</div><p>Lemonade feels that it has an edge against legacy insurance companies because it was built digitally, with interconnecting parts that require minimal human intervention. Although the traditional insurance companies are also using AI today, they have disparate elements and still work with human insurance agents while Lemonade mostly relies on chatbots. Lemonade also has an edge against newer AI disruptors because it already has a decade of data and experience.</p>
<div class="lb-trans"><p>Lemonade 认为它相较于传统保险公司具有优势，因为它是数字化构建的，互联的部分需要最少的人为干预。尽管传统保险公司现在也在使用人工智能，但它们的元素各异，仍然依赖人类保险代理，而 Lemonade 主要依靠聊天机器人。Lemonade 还相较于新的人工智能颠覆者具有优势，因为它已经拥有十年的数据和经验。</p>
</div><p>Its strategy is to capture a younger market and grow with those customers, and it's already the most popular insurance brand among ages 22 to 40. This age cohort is just starting out getting jobs and needing insurance, but as the preferred brand, Lemonade has a huge opportunity ahead. Lemonade stock could be an incredible investment for investors with some appetite for risk and a long time horizon.</p>
<div class="lb-trans"><p>其战略是吸引年轻市场并与这些客户共同成长，它已经成为 22 至 40 岁年龄段中最受欢迎的保险品牌。这个年龄段的人刚开始找工作并需要保险，但作为首选品牌，Lemonade 面临着巨大的机会。对于一些有风险偏好的投资者来说，Lemonade 股票可能是一个绝佳的投资。</p>
</div>

一只增长潜力巨大的股票下跌了 72%，值得长期买入和持有