Lemonade, Inc.

Lemonade, Inc. filed its 10-Q report for the period ending September 30, 2026. The company reported a significant increase in revenue for both the three-month and nine-month periods, reaching $336.1 million and $888.5 million respectively. However, the company also reported a net loss of $43.7 million for the three-month period and $122.9 million for the nine-month period. Total assets grew to $2,089.3 million, while total liabilities also increased to $1,617.5 million. Borrowings under financing agreements saw a notable rise.

Lemonade reported a significant increase in total revenue for Q2 2026, rising 79.4% year-over-year to $294.4 million, driven by a 124% surge in net earned premium to $252.0 million. The company's net loss narrowed slightly to $(43.4) million from $(43.9) million in the prior year quarter, with net loss per share improving to $(0.56). For the six months ended June 30, 2026, net cash used in operating activities significantly improved to $(4.0) million from $(41.7) million. The company also renewed its Whole Account Quota Share Reinsurance Contracts with a reduced cession rate and adjusted limits, while making other changes to its reinsurance structure.

Lemonade, Inc. reported excellent second quarter 2026 results, with revenue surging 79% to $294 million and In Force Premium (IFP) growing 32.4% to $1.43 billion. The company significantly improved its profitability metrics, with Gross Profit increasing 76% to $113 million and Adjusted EBITDA loss narrowing by 54% to ($19) million. Efficiency gains were notable, with the LAE ratio reaching a record low of 5%. Strategic updates include a new reinsurance program reducing the quota share cession rate and an extended synthetic agents program providing $250 million in capital at a reduced cost. Lemonade reiterated its expectation for positive Adjusted EBITDA in Q4 2026.

Lemonade, Inc. announced a leadership transition, with current Chief Financial Officer Tim Bixby moving to a Class III Board member role, effective January 1, 2027. Concurrently, Nick Stead, the company's Senior Vice President Finance, has been appointed as the new Chief Financial Officer, also effective January 1, 2027. Mr. Stead, who joined Lemonade in 2019, has been instrumental in significant financial milestones including the company's IPO and a strategic acquisition.

Lemonade, Inc. has entered into a New Business Financing Agreement with Hannover Re (Ireland) DAC to secure up to $250 million in capital. This funding will support the company's sales and marketing growth efforts ("Growth Spend") from January 1, 2027, through December 31, 2028. The agreement outlines monthly financing of up to 80% of Growth Spend, capped at $20 million per customer cohort, with repayment tied to collected premiums plus a rate of return.

Lemonade, Inc. announced the expansion of its renters insurance product to Montana, offering residents a fast and affordable way to protect their belongings. The service allows users to get quotes, purchase coverage, update policies, and file claims directly through its app, with nearly 40% of claims handled instantly. Policies start at $5 per month, and the company claims its rates are approximately 30% lower than the national average, with additional savings available for bundling or safety devices.

Lemonade, Inc. announced the expansion of its renters insurance to North Dakota, offering residents a simple, fast, and affordable way to get coverage. The tech-first insurance company provides flexible options via an app, with coverage starting at $5 per month and rates approximately 30% lower than the national average. This move marks another step in Lemonade's continued U.S. expansion, aiming to make insurance easier to access and manage.

Lemonade, Inc. has officially introduced its renters insurance product in Louisiana, expanding its customizable, app-based coverage throughout the state. Policies are available starting at $5 per month, which is roughly 30% less than the national average for renters insurance. Louisiana residents can manage quotes, purchases, policy updates, and claims entirely through the Lemonade mobile app, with nearly 40% of claims processed instantly. This move marks another milestone in the company's continued nationwide growth, aiming to provide simple, transparent, and digital insurance.

Lemonade, Inc. has expanded its U.S. presence by launching its award-winning renters insurance product in Delaware. The tech-first company offers policies starting from $5 per month, which it claims are approximately 30% more affordable than the national average. This digital-first offering allows customers to manage policies and file claims through the Lemonade app, with nearly half of claims processed instantly. The expansion is a significant milestone in the company's ongoing U.S. growth, further solidifying its reach.

Lemonade, Inc. has launched its renters insurance product in New Hampshire, expanding its U.S. presence. The digital-first coverage offers policies starting from $5 per month, claiming to be 30% more affordable than typical renters policies nationwide. Customers can manage quotes, policies, and claims through the Lemonade app, with approximately 40% of claims handled instantly. This expansion brings customizable coverage, including personal property, liability, and loss of use, to renters across the state.