Earnings ·
Lemonade, Inc. reported financial results for the second quarter ended June 30, 2026
LMNDLemonade, Inc.
Lemonade, Inc. reported financial results for the second quarter ended June 30, 2026. Revenue increased 79% year-over-year to $294.4 million, driven by a 32% rise in In Force Premium to $1.43 billion and higher premium retention following a reinsurance transition. Gross profit grew 76% to a record $113.2 million, while Adjusted EBITDA loss narrowed 54% to ($18.7) million. Net loss was ($43.4) million, or ($0.56) per share. The company announced a reinsurance renewal effective July 1 that reduces the quota share cession rate from approximately 20% to 18% and expands catastrophe protection up to $40 million per event. Additionally, Lemonade secured a new synthetic agents financing agreement with Hannover Re providing up to $250 million in capital at a ~9.8% cost of capital. The company provided full-year 2026 guidance projecting In Force Premium between $1.63 billion and $1.64 billion and an Adjusted EBITDA loss between ($51) million and ($47) million, with expectations to achieve positive Adj. EBITDA in Q4 2026. Lemonade operates in the insurance industry, offering renters, homeowners, pet, car, and life insurance products powered by artificial intelligence.