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Sep 30, 2021
Lemonade Q3 2021 Earnings Report
Lemonade's Q3 2021 performance was marked by significant growth in in force premium and customer base, alongside the launch of Lemonade Car and acquisition of Metromile.
Key Takeaways
Lemonade reported a robust Q3 2021 with a 101% increase in revenue, driven by growth in gross earned premium and customer base. The company launched Lemonade Car and announced the acquisition of Metromile to enhance its car insurance capabilities. While growth was strong, the company experienced a higher net loss, reflecting increased investments in growth and product development.
Launched Lemonade Car and announced the acquisition of Metromile.
In force premium increased by 84% year-over-year, reaching $346.7 million.
Customer count increased by 45% year-over-year, totaling 1,363,754 customers.
Total revenue increased by 101% year-over-year, reaching $35.7 million.
Forward Guidance
For Q4 2021, Lemonade anticipates in force premium between $380 and $384 million, gross earned premium between $88 and $89 million, revenue between $39 and $40 million, and an adjusted EBITDA loss between $52 and $50 million.
Positive Outlook
- In force premium at December 31 of $380 - $384 million
- Gross earned premium of $88 - $89 million
- Revenue of $39 - $40 million
Challenges Ahead
- Adjusted EBITDA loss of ($52) - ($50) million
- Stock-based compensation expense of approximately $19 million
- Capital expenditures of approximately $3 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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