Lemonade's Q4 2020 results showed significant growth in in force premium, customers, and premium per customer. The company expanded its product offerings and geographic presence, while also improving marketing efficiency. Lemonade concluded the year with over one million customers and a 20% increase in premium per customer.
In force premium increased by 87% year-on-year to $213 million.
Customer count increased by 56% year-on-year, reaching over one million customers.
Premium per customer increased by 20% year-on-year to $213.
Gross earned premium increased by 92% year-on-year to $50 million.
For Q1 2021, Lemonade expects in force premium between $241.0 - $246.0 million, gross earned premium between $53.5 - $54.5 million, revenue between $21.5 - $22.5 million, and adjusted EBITDA loss between $(43.0) - $(40.0) million. For the full year 2021, Lemonade expects in force premium between $372 - $378 million, gross earned premium between $270 - $275 million, revenue between $114 - $117 million, and adjusted EBITDA loss between $(173) - $(163) million.
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