Lemonade Projects First Positive Adjusted EBITDA in Fourth Quarter
Lemonade (LMND) is approaching a significant financial milestone, forecasting positive adjusted EBITDA of $5 million to $9 million in the fourth quarter. This marks a pivot for the high-growth insurer, which has historically prioritized rapid expansion over profitability. The company's third-quarter performance showed accelerating momentum, with in-force premiums rising 34% year-over-year to $1.55 billion and total revenue jumping 73% to $336.1 million. Growth is being driven largely by the expansion of its car insurance segment, which saw in-force premiums grow from $163 million to $265 million over the past year. While the company remains unprofitable on a GAAP basis due to high stock-based compensation and interest expenses, it has demonstrated strong cash generation with adjusted free cash flow reaching $63.2 million for the first nine months of the year.
Coverage
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