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Lemonade posts accelerating Q2 growth as underwriting improves

Second-quarter revenue rose 79.4% to $294.4 million and in-force premium reached $1.43 billion, up 32.4% year over year.

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Lemonade reported second-quarter results on July 29, showing faster growth and improved underwriting, though investors are still waiting for proof the insurer can reach profitability, according to MarketBeat Ratings.

Revenue jumped 79.4% to $294.4 million, slightly above Wall Street consensus of $291 million, while the company posted a $43 million loss, or 56 cents per share, matching forecasts.

Lemonade said in-force premium, the total annualized value of policies on the books, climbed to $1.43 billion, up 32.4% from a year earlier for an 11th straight quarter of accelerating growth. Customer count increased 23% to 3.3 million, with about 166,000 net new customers added in the quarter.

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