Lemonade reported strong Q3 2024 results, featuring accelerating topline growth, stable expenses, and $48 million in net cash flow. In Force Premium grew 24% year-over-year, and the gross loss ratio improved to 73%.
Delivered a NCF-positive quarter, generating $48 million NCF.
In Force Premium grew 24% YoY reaching $889 million, while revenue grew 19%.
Gross loss ratio improved to 73%, a 10 points year on year improvement.
Gross Profit increased by 71% year on year to $38 million, with Gross Profit Margin increasing to 27%.
Lemonade is increasing full year guidance for gross earned premium and revenue, and reaffirming guidance for FY 2024 for all other metrics. Expecting positive net cash flow exiting this year, and Adjusted EBITDA profitability on track during 2026.
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