NYSE$LMND

Lemonade Inc. · Q2 2025 earnings

Q2 2025 earnings · · Before market open · Investor relations

Briefing

Lemonade Inc. reported Q2 2025 results with total revenue of $164.1 million and a net loss of $43.9 million.

Lemonade Inc. achieved 35% year-over-year revenue growth to $164.1 million in Q2 2025, driven by a 26% increase in gross written premium. The company reported a net loss of $43.9 million, an improvement from the prior year, with in-force premium reaching $1.08 billion. Key metrics showed continued customer growth and improved loss ratios.

  • Total revenue grew 35% year-over-year to $164.1 million.
  • In-force premium increased to $1.083 billion with 2.69 million customers.
  • Net loss improved to $43.9 million from $57.2 million in Q2 2024.
  • Gross loss ratio improved to 67% from 79% year-over-year.

Headline financials

Total Revenue

$164M

Previous: $122M+34.5%
EPS (adj)

-$0.60

Previous: -$0.81+25.9%
Customers

2.7M

Previous: 2.2M+24.3%
Premium per customer

$402.00

Previous: $387.00+3.9%
Adjusted gross profit

$65.6M

Previous: $33.4M+96.4%
Adjusted EBITDA

-$40.9M

Previous: -$43M+4.9%
Gross profit margin

0.4%

Previous: 25.0%-98.4%
Adjusted gross profit margin

0.4%

Previous: 27.0%-98.5%
Ratio of adj. gross profit to GEP

0.3%

Previous: 17.0%-98.5%
Gross loss ratio

0.7%

Previous: 79.0%-99.2%
Net loss ratio

0.7%

Previous: 79.0%-99.1%
In-force premium

$1.08B

Previous: $839M+29.2%
Annual dollar retention

0.8%

Previous: 88.0%-99.0%
Capital Expenditures

-$4.4M

Previous: -$4M-10.0%
Net Income

-$43.9M

Previous: -$57.2M+23.3%
Gross Profit

$164M

Previous: $122M+34.5%
Cash & Equivalents

$378M

No prior period
Total Assets

$1.93B

No prior period

Revenue & EPS history

Lemonade · Revenue · Quarterly

$164M

Q2 2025+34.5%vs Q2 2024
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Forward guidance

The company continues to focus on growth and profitability improvement amid evolving market conditions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

+0.8%

Avg return

Earnings day

+3.7%

Avg return

5 days after

+10.5%

Avg return

30 days after

44%

11 / 25 earnings

Positive

+57.5%

Q3 2023

Best reaction

-25.2%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025
Q1 2026+3.7%-13.6%-11.5%
Q4 2025-6.1%-20.6%-2.4%
Q3 2025+34.3%+34.5%+34.6%
Q1 2025+0.8%+3.6%+19.2%
Q4 2024+12.6%+18.5%+3.1%
Q3 2024+28.8%+33.6%+176.3%
Q2 2024-23.6%-26.6%-18.1%
Q1 2024+3.0%+4.1%-4.2%
Q4 2023-25.2%-20.6%-24.4%
Q3 2023+57.5%+53.1%+66.4%
Q2 2023-22.4%-26.8%-36.3%
Q1 2023+32.0%+47.8%+64.1%
Q4 2022-2.9%-0.7%-21.1%
Q3 2022+11.2%+13.7%-7.3%
Q2 2022+14.1%+27.5%-3.2%
Q1 2022-6.7%+13.7%+3.5%
Q4 2021+2.3%+5.8%+12.7%
Q3 2021-10.8%-9.3%-34.0%
Q2 2021-10.0%-7.6%-14.0%
Q1 2021-12.4%-1.9%+43.8%
Q1 2020-12.4%-1.9%+43.8%
Q4 2020-22.2%-29.8%-27.8%
Q3 2020-15.0%-1.0%+38.9%
Q2 2020-5.6%-2.0%-20.1%
Q4 2019-5.6%-2.0%-20.1%
Q3 2019
Q2 2019
Q4 2018
Q3 2018
Q2 2018

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