Our Say Q&A is open for shareholders now until May 5 at 7:00pm ET ahead of Q1 2025 earnings next week!

Lemonade Hits $1B in Premiums, Expands Car to Colorado

A Snapshot: Lemonade Q4 2024 Earnings Results

• Generated $48m in adj. Free Cash Flow and $27m in Q4 alone, marking our first ever FCF positive year — 12 months ahead of plan
• $1.02B in cash/investments – $76m more than beginning of year
• Record Loss Ratio: 63% in Q4, TTM Loss Ratio at 73% (12pt YoY improvement!)
• >2.4M customers
• $944M In Force Premium
• 26% IFP growth, 29% revenue growth
• Record Annual Gross Profit: $167M (nearly doubled YoY)
• EBITDA improved 18% YoY, net loss down 29%
• 5th consecutive quarter of accelerating top-line growth

Q4 2024 Shareholder Letter

A Snapshot: Lemonade Q3 2024 Earnings Results

• $48 million of positive Net Cash Flow generated in Q3, reiterating NCF positivity from Q1 25 and onwards.
• Gross Loss Ratio at 73%, best in 4 years
• Gross Profit increased by 71% YoY
• Continued accelerating growth with $27 million of additional investment in marketing and customer acquisition
• In Force Premium at $889M, +24% YoY
• Operating expense excluding growth spend stayed flat

Q3 2024 Shareholder Letter