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Dec 31, 2021
Lemonade Q4 2021 Earnings Report
Lemonade's Q4 2021 performance highlighted by revenue growth and strategic advancements.
Key Takeaways
Lemonade reported a strong Q4 2021 with a 100% increase in revenue compared to Q4 2020. The company expanded its product offerings and customer base, while also making strides in technology and strategic acquisitions. Despite the growth, the company experienced a higher gross loss ratio and a net loss for the quarter.
Revenue increased by 100% compared to Q4 2020.
Customer count increased by 43% compared to Q4 2020.
Gross loss ratio was 96%, up from 73% a year ago.
Lemonade Car saw a strong start in Illinois, with about 3/4 of customers bundling it with another policy.
Forward Guidance
Lemonade provided guidance for Q1 2022, excluding the impact of the Metromile acquisition. They anticipate continued growth in in force premium, gross earned premium and revenue. The company also expects an adjusted EBITDA loss and provides estimates for stock-based compensation and capital expenditures.
Positive Outlook
- In force premium at March 31 of $405 - $410 million
- Gross earned premium of $92 - $94 million
- Revenue of $41 - $43 million
Challenges Ahead
- Adjusted EBITDA loss of $(70) - $(65) million
- Stock-based compensation expense of approximately $20 million
- Capital expenditures of approximately $2 million
- Full reconciliation of adjusted EBITDA guidance to net loss cannot be provided without unreasonable efforts
- Guidance excludes the impact of Metromile transaction
Historical Earnings Impact
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Avg. Return Before/After Earnings
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