Lemonade's second quarter revenue grew 79% driven by strong in-force premium growth and narrowing losses.

Lemonade reported second quarter 2026 revenue of $294.4 million and an EPS loss of ($0.56), beating revenue estimates while meeting EPS expectations. The results were driven by continued growth in customers and premium, alongside improved underwriting profitability as the company progresses towards its goal of positive Adjusted EBITDA.

Key Highlights

• In Force Premium (IFP) grew 32% year-over-year to $1.43 billion, supported by a 23% increase in total customers to 3.3 million.
• Adjusted EBITDA loss significantly improved to ($18.7) million, compared to a loss of ($40.9) million in the prior-year quarter. The company reaffirmed its expectation to achieve positive Adjusted EBITDA in the fourth quarter of 2026.
• The Gross Loss Ratio improved to 60% from 67% a year ago, reflecting better underwriting performance and efficiency gains, including a record-low 5% LAE ratio for claims handling.