Lemonade reported third quarter revenue of $336.1 million, exceeding analyst expectations and growing 73% year-over-year. The net loss per share of $0.56 also came in narrower than the anticipated $0.60 loss, as the company remains on track to achieve its first positive adjusted EBITDA quarter in Q4 2026.
Key Highlights
- In-Force Premium (IFP) grew 34% year-over-year to $1.55 billion, marking the 12th consecutive quarter of accelerating growth and exceeding guidance.
- Management raised full-year 2026 revenue guidance to $1.231-$1.235 billion, up from prior targets, citing robust marketing efficiency and customer acquisition.
- Operating leverage improved significantly as headcount fell 1% sequentially even as the premium base has grown over 2.5x in the last four years.