Lemonade delivers convincing quarterly figures with strong growth

Lemonade, known as a Certified B-Corp, offers a broad range of technology-driven insurance products, including renters, homeowners, pet, auto, and life insurance, available in the USA, UK, and Europe. In the current Q3 2024 report, Lemonade presented an impressive growth of 24 percent in in-force premiums and also demonstrated a significant improvement in loss ratios. These successes are attributed to the company's strategic diversification and technological advancements, which enhance its resilience and operational efficiency. Key financial metrics include an increase in gross profit by 71 percent to 38 million USD and an increase in the gross profit margin to 27 percent. Despite a larger adjusted EBITDA loss of 49 million USD, Lemonade was able to report a positive net cash flow of 48 million USD. The company's operational leverage is evident as it continues to expand its customer base while keeping operating expenses stable. Looking ahead, Lemonade is focusing on acquiring profitable new businesses and leveraging technology to further drive growth and efficiency. The management anticipates maintaining a positive net cash flow by the end of the year and achieving profitability in adjusted EBITDA by 2026.