Lemonade(LMND) - 2024 Q1 - Quarterly Results

Lemonade Shareholder Letter Q1 2024 2 Dear Shareholders, Our first quarter results were excellent, and we're pleased to note that we now expect cash flow breakeven by year-end 2024. Here's a quick look at our operating metrics for Q1: ω · Top line: At $794 million, in-force premium (IFP) grew 22% year on year, while total revenue grew 25%. · Loss Ratio: At 79%, gross loss ratio showed an 8 point year on year improvement. · Gross Profit: Climbed 110% year on year, while Gross Profit Margin improved by 12 poi ...