Lemonade, Inc. (LMND) Earnings
Lemonade, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $-0.55. LMND has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +20.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $-0.58 | $-0.47 | +19.0% | $258M | +2.6% |
| Feb 19, 2026 | $-0.41 | $-0.29 | +29.3% | $184M | -27.5% |
| Nov 5, 2025 | $-0.72 | $-0.51 | +29.2% | $195M | -10.8% |
| Jul 30, 2024 | $-0.85 | $-0.81 | +4.7% | $122M | +0.2% |
| Apr 30, 2024 | $-0.81 | $-0.67 | +17.3% | $119M | +3.2% |
| Feb 27, 2024 | $-0.79 | $-0.61 | +22.8% | $116M | -3.6% |
| Nov 1, 2023 | $-0.93 | $-0.88 | +5.4% | $115M | +9.6% |
| Aug 2, 2023 | $-1.03 | $-0.97 | +5.8% | $105M | +1.1% |
| May 3, 2023 | $-1.14 | $-0.95 | +16.7% | $95M | +4.7% |
| Feb 22, 2023 | $-1.17 | $-0.93 | +20.5% | $88M | +13.0% |
| Feb 23, 2022 | $-1.13 | $-1.14 | -0.9% | $41M | +4.1% |
| Aug 4, 2021 | $-0.88 | $-0.90 | -2.3% | $28M | +0.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Daniel mentioned continued growth acceleration, strong underwriting performance, and operating leverage. Marketing efficiency has been a tailwind with LTV to CAC ratio above 3%. Operating leverage seen with over $1 million IFP per employee. Shai discussed PET as largest line with cross-sell advantage and diversified distribution. Tim detailed Q1 financials: IFP growth, revenue up 71%, gross profit up 159%, adjusted EBITDA loss narrowed.
Guidance
Management raised full-year guidance for top and bottom lines. Q2 expected to have 32% top line growth. Full year top line growth expected at 33%. Q4 2026 expected to be EBITDA positive, and 2027 fiscal year also to be EBITDA positive.
Segment performance
Inforce premium reached $1.33 billion in Q1, growing 32% year over year. Revenue grew 71%. Gross profit increased 159% to $100 million. PET became the largest line of business with over $500 million in IFP. HAP benefits from AI-powered automation for claims management.
Analyst Q&A
Q: Talk about AV insurance's impact on financials and reinsurance transition peak.
A: AV rollout ongoing, reinsurance retention rate phases in over four quarters.
Q: Where are operating leverage savings seen and reinvestment?
A: Variable costs, fixed costs scale well, growth spend discretionary.
Q: Which acquisition channels contribute to growth?
A: All channels, direct consumer efforts major.
Q: Media coverage on growth spend?
A: Coverage builds brand, organic sales grow.
Q: Stock-based comp increase?
A: Step up, performance-based and multi-year grants.
Q: Loss adjustment expense ratio and combined ratio?
A: LAE ratio improving, combined ratio showing significant improvement.