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Lemonade — Q3 2026 Earnings Summary

  • Revenue surged 73% year-over-year to $336.1 million, while In Force Premium grew 34% to $1.55 billion, marking the 12th consecutive quarter of acceleration.
  • Adjusted EBITDA loss narrowed to $20.4 million from $25.6 million in the prior year, with adjusted free cash flow improving to $27.0 million; the company reiterated guidance to achieve positive Adjusted EBITDA in Q4 2026 and for the full year 2027.
  • Guidance was raised for Q4 and FY 2026 Revenue and Gross Earned Premium, with management expecting In Force Premium growth to outpace growth spend starting in Q4 2026.
  • Customer count increased 23% year-over-year to 3.52 million, while the company operates with 1,321 employees, demonstrating visible operating leverage despite a >2.5x increase in the premium base over four years.
  • Strategic expansion includes nationwide Renters availability, Car product coverage in 14 states, and the launch of Lemonade Autonomous Car in six states with expanded Tesla eligibility.
Company
LEMONADE INC
Sector
Financial Services
Industry
Insurance - Property & Casualty