NEW YORK--(BUSINESS WIRE)--Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, today announced the extension and expansion of its financing relationship with General Catalyst (GC) - AKA ‘Synthetic Agents’ - whereby GC finances up to 80% of Lemonade’s spending specifically related to customer acquisition cost (CAC). Under the original agreement, GC agreed to finance up to $150 million of CAC spend for the 18 months from July 2023 through December 2024. With today’s announce ...

Is artificial intelligence (AI) just a buzzword? Or is it really the next wave of useful technology? It's already changing many applications in just about every industry, so I think it's safe to say that it's more than just hype. If you're only hearing about it now, chances are that you already missed many early-stage opportunities in AI. The hottest stock in 2023 was arguably Nvidia, one of the main companies producing chips for AI. It gained about 230% last year, and several thousand percent more leading ...

Small-cap stocks are looking attractive now to many investors, including myself. These companies, on the whole, have lower valuations than their large-cap counterparts, meaning they could deliver the needed gains investors seek.Last year was categorized by an astonishing lack of market breadth, with the Magnificent Seven accounting for almost all of the gains in the S&P 500 and the Nasdaq indices. This year might be when small-cap stocks make up for lost ground, especially since many large and mega-cap stoc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39367 Lemonade, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39367 Lemonade, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39367 Lemonade, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or other ...

Lemonade, Inc. (NYSE:LMND) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET Company Participants Yael Wissner-Levy - Vice President of Communications Daniel Schreiber - Co-Founder & Co-Chief Executive Officer Shai Wininger - Co-Founder & Co-Chief Executive Officer Tim Bixby - Chief Financial Officer Conference Call Participants Jason Helfstein - Oppenheimer Tommy McJoynt - KBW Josh Shanker - Bank of America Merrill Lynch Operator Thank you for standing by. My name is Sydney, and I will be your confer ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to Commission file number: 001-39367 Lemonade, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Financial Data and Key Metrics - Gross earned premium in Q4 increased 69% YoY to $151.3 million, driven by in-force premium growth [12] - Revenue in Q4 increased 116% YoY to $88.4 million, supported by a reduction in premium ceded to reinsurers to 58% from 72% in the prior year [12] - Gross loss ratio improved to 89% in Q4 from 96% in Q4 2021 and 94% in Q3 2022, with underlying non-cat loss ratio improving by 9 percentage points sequentially [12] - Net loss in Q4 was $63.7 million ($0.93 per share), compared to $70.3 million ($1.14 per share) in Q4 2021 [14] - Adjusted EBITDA loss in Q4 was $51.7 million, nearly identical to the $51.2 million loss in Q4 2021 [14] - Total cash, cash equivalents, and investments stood at approximately $1 billion at the end of Q4 [14] Business Line Data and Key Metrics - Annual dollar retention (ADR) increased by 4 percentage points to 86%, an all-time high, with Illinois reaching 95% ADR [9][12] - In-force premium (IFP) grew 64% YoY to $625 million in Q4, with organic growth at 38% excluding Metromile acquisition impact [34] - Customer count increased 27% YoY to 1.8 million, while premium per customer rose 30% to $346, driven by Metromile and a shift toward higher-value policies [34] - Technology development expense increased 43% YoY, primarily due to personnel and hosting costs, while G&A expense increased 35% YoY but decreased $9 million sequentially [13] Market Data and Key Metrics - The company faced challenges from inflation, geopolitical unrest, and rising interest rates but managed to blunt their impact through rate filings and operational adjustments [2] - Winter Storm Elliott impacted Q4, but the loss ratio continued to decline, indicating a strong underlying downward trend [3] - The company operates in 4 countries with 5 product lines, diversifying its business compared to its monoline structure three years ago [57] Company Strategy and Industry Competition - The company focuses on three key levers for 2023: growing with customers, improving the loss ratio, and continuing growth [4] - Automation and AI are central to the company's strategy, with significant progress in claims handling and operational efficiency [18][44] - The company is integrating Metromile and discontinuing high-cost services to improve expense ratios and scalability [39] - The company aims for a long-term loss ratio under 75%, with renters insurance already achieving this target [46] Management Commentary on Operating Environment and Future Outlook - Management believes peak losses are behind the company and is progressing toward profitability [31] - Inflation has impacted the loss ratio across all products, with car insurance seeing the most significant impact (10-11 points), followed by home and pet (5-6 points), and renters (1-2 points) [26] - The company expects in-force premium for 2023 to be between $695 million and $700 million, with adjusted EBITDA loss between $245 million and $240 million [36] Other Important Information - The company has slowed headcount growth significantly, with IFP per employee increasing 35% in 2022 [17] - The company discontinued dozens of high-cost services post-Metromile acquisition, improving expense ratios [39] - The company is leveraging AI for claims handling, with 40% of claims fully automated and 55% partially automated [66][84] Q&A Session Summary Question: Impact of AI advancements on the company and competition - The company believes its AI infrastructure, built from the ground up, provides a competitive advantage over incumbents [44] Question: Loss ratio improvement and business mix impact - The underlying non-cat loss ratio improved by 9 percentage points sequentially, with a 7-point improvement YoY excluding cat impacts [45] Question: Long-term loss ratio targets - The company targets a loss ratio under 75%, with renters insurance already achieving this [46] Question: Inflation impact on loss ratios - Inflation has impacted all product lines, with car insurance seeing the most significant impact [26] Question: AI claims handling process - AI handles 40% of claims fully and 55% partially, with significant automation in claims triage and processing [66][84] Question: Operating expense trajectory - Sales and marketing expenses declined sequentially, with advertising spend now at 55% of the sales and marketing line [69] Question: Reinsurance market impact - The company is navigating a hard reinsurance market, with renewal discussions ongoing and ceding rates expected to decline further [57][72] Question: Pet insurance loss ratios - Pet insurance loss ratios have been impacted by inflation, particularly vet labor costs, but the company sees positive trends in loss ratio improvements [65]

Lemonade, Inc. (NYSE:LMND) Q3 2022 Results Conference Call November 8, 2022 8:00 AM ET Company Participants Yael Wissner-Levy - VP, Communications Daniel Schreiber - Co-CEO and Co-Founder Tim Bixby - CFO Shai Wininger - Co-CEO and Co-Founder Conference Call Participants Michael Phillips - Morgan Stanley Tracy Benguigui - Barclays Tommy McJoynt - KBW Andrew Kligerman - Credit Suisse Josh Shanker - Bank of America Operator Ladies and gentlemen, hello, and welcome to the Lemonade Q3 2022 Earnings Call. My name ...