Lemonade Boosts Forecast Amid Premium Growth Momentum

Lemonade, Inc. (NYSE: LMND ) shares are trading lower after the company reported mixed second-quarter results. The company lost 56 cents per share, in line with analyst expectations. Revenue came in at $294.4 million, exceeding the consensus estimate of $290.876 million. Earnings Snapshot Revenue rose 79% year over year (Y/Y), driven by higher gross earned premiums and an improved premium retention rate. Adjusted gross profit increased 74% Y/Y to $114.4 million, reflecting higher revenue. Adjusted EBITDA loss narrowed to $18.7 million from the loss of $40.9 million in the prior-year quarter, supported by revenue growth and improved underwriting results. In-force premium rose 32% Y/Y to $1.43 billion, while premium per customer increased 8% Y/Y to $433 in the quarter. Gross earned premium increased 32% Y/Y to $332.4 million in the first quarter. As of June 30, cash, cash equivalents, a...