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Lemonade Stock Surges After Q1 Earnings Beat, Strong Q2 Revenue Guide! Lemonade News! Episode 5!
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Lemonade Stock Surges After Q1 Earnings Beat, Strong Q2 Revenue Guide! Latest Lemonade News! Lemonade Weekly! Episode 5!
Lemonade (NYSE:LMND) stock jumped 9.1% in Wednesday after-hours trading after the app-based insurer's loss per share came in lower than Wall Street expectations, prompting it to raise its adjusted EBITDA guidance for the full year as well as guide for Q2 revenue above the consensus estimate.
The company sees Q2 revenue of $96M-$98M, exceeding the $90.9M consensus (six estimates); in-force premium of $665M-$668M vs. $655.4M Visible Alpha consensus; and gross earned premium of $156M-$158M vs. Visible Alpha consensus of $154.2M.
For the full year, Lemonade (LMND) now expects revenue of $392M-$396M, vs. $381.2M consensus, compared with $375M-$379M in the prior view. 2023 in-force premium is expected to be $700M-$705M vs. $695M-$700M in previous guidance. And it sees gross earned premium of $645M-$650M compared with $632M-$636M previously.
Q1 GAAP EPS of -$0.95, vs. -$1.13 consensus, widened from -$0.93 in the prior quarter and narrowed from -$1.21 in Q1 2022. Total revenue of $95.2M, surpassing the $88.2M consensus, rose from $88.4M in Q4 2022 and from $44.3M a year earlier.
Net loss ratio improved to 93% from 97% in Q4 2022 and rose from 89% in the year-ago quarter.
Premium per customer was $352, up from $346 at the end of Q4 2022 and from $279 at the end of Q1 2022. In-force premium came in at $653.3M vs. $625.1M at Dec. 31, 2022, and $419.0M at March 31, 2022.
Q1 adjusted EBITDA stood at -$50.8M vs. -$51.7M in Q4 2022 and -$57.4M in Q1 of last year.
Gross earned premium of $154.2M vs. $151.3M in Q4 2022 and $96.0M in Q1 2022.
Lemonade, Inc. offers renters' insurance, homeowners' insurance, car insurance, pet insurance, and term life insurance in the United States as well as contents and liability policies in Germany and the Netherlands and renters insurance in France. The company is based in New York City. It has approximately 1 million customers and 70% of its customers are under the age of 35. The company is registered as a public benefit corporation and has a stated mission of ‘transforming insurance from a necessary evil into a social good." Its business plan includes annually giving a portion of its underwriting profits to a nonprofit organization chosen by each customer upon signup. Lemonade uses artificial intelligence and chatbots to process claims.
In a 2020 study of customer satisfaction, J.D. Power ranked Lemonade as the highest among renters' insurance carriers.
LMND! $LMND
#LMND #Lemonade #LemonadeInsurance
Lemonade (NYSE:LMND) stock jumped 9.1% in Wednesday after-hours trading after the app-based insurer's loss per share came in lower than Wall Street expectations, prompting it to raise its adjusted EBITDA guidance for the full year as well as guide for Q2 revenue above the consensus estimate.
The company sees Q2 revenue of $96M-$98M, exceeding the $90.9M consensus (six estimates); in-force premium of $665M-$668M vs. $655.4M Visible Alpha consensus; and gross earned premium of $156M-$158M vs. Visible Alpha consensus of $154.2M.
For the full year, Lemonade (LMND) now expects revenue of $392M-$396M, vs. $381.2M consensus, compared with $375M-$379M in the prior view. 2023 in-force premium is expected to be $700M-$705M vs. $695M-$700M in previous guidance. And it sees gross earned premium of $645M-$650M compared with $632M-$636M previously.
Q1 GAAP EPS of -$0.95, vs. -$1.13 consensus, widened from -$0.93 in the prior quarter and narrowed from -$1.21 in Q1 2022. Total revenue of $95.2M, surpassing the $88.2M consensus, rose from $88.4M in Q4 2022 and from $44.3M a year earlier.
Net loss ratio improved to 93% from 97% in Q4 2022 and rose from 89% in the year-ago quarter.
Premium per customer was $352, up from $346 at the end of Q4 2022 and from $279 at the end of Q1 2022. In-force premium came in at $653.3M vs. $625.1M at Dec. 31, 2022, and $419.0M at March 31, 2022.
Q1 adjusted EBITDA stood at -$50.8M vs. -$51.7M in Q4 2022 and -$57.4M in Q1 of last year.
Gross earned premium of $154.2M vs. $151.3M in Q4 2022 and $96.0M in Q1 2022.
Lemonade, Inc. offers renters' insurance, homeowners' insurance, car insurance, pet insurance, and term life insurance in the United States as well as contents and liability policies in Germany and the Netherlands and renters insurance in France. The company is based in New York City. It has approximately 1 million customers and 70% of its customers are under the age of 35. The company is registered as a public benefit corporation and has a stated mission of ‘transforming insurance from a necessary evil into a social good." Its business plan includes annually giving a portion of its underwriting profits to a nonprofit organization chosen by each customer upon signup. Lemonade uses artificial intelligence and chatbots to process claims.
In a 2020 study of customer satisfaction, J.D. Power ranked Lemonade as the highest among renters' insurance carriers.
LMND! $LMND
#LMND #Lemonade #LemonadeInsurance
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