News
Lemonade Announces Second Quarter 2024 Financial Results
NEW YORK, July 30, 2024–(BUSINESS THREAD)–Lemonade, Inc. (NYSE: LMND) has released its second-quarter 2024 financial results by posting them on its website. View the second-quarter 2024 financial results at Letter to shareholders on the company’s investor relations website.
On Wednesday, July 31, 2024, Lemonade will host a conference call at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time) to discuss the results.
To register for this conference call, please use this link. Registrants will receive confirmation with dial-in details. Registrants may also dial in, toll-free, to (833) 470-1428 or (404) 975-4839, conference ID: 253964
A live stream of the conference call will be available on Lemonade’s Investor Relations website, investor.lemonada.com. After the call is completed, a replay will also be made available at investor.lemonada.com.
About Lemonade
Lemonade offers insurance for renters, homeowners, auto, pet, and life. Powered by AI and social impact, Lemonade’s full-stack insurance businesses in the US and EU replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A certified B-Corp, Lemonade gives unused premiums to nonprofits selected by its community during its annual Giveback. Lemonade is currently available in the US, Germany, the Netherlands, France, and the UK, and continues to expand globally.
Follow @lemonade_inc on X for updates.
FORWARD-LOOKING STATEMENTS
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact contained in this press release, are forward-looking statements, including the date and time of the earnings conference call.
These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements expressed or implied to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our history of losses and that we may not achieve or maintain profitability in the future; our success and ability to retain and expand our customer base; the “Lemonade” brand may not become as widely known as the incumbents’ brands or the brand may become tarnished; the denial of claims or our failure to pay claims accurately and timely; our ability to obtain greater value from each user; the availability of reinsurance at current levels and prices; our exposure to counterparty risk; our limited operating history; our ability to manage our growth effectively; our proprietary artificial intelligence algorithms may not operate properly or as expected; intense competition in the segments of the insurance industry in which we operate; our ability to maintain our risk-based capital at required levels; our ability to expand our product offerings; the novelty of our business model and its unpredictable effectiveness and susceptibility to unintended consequences; the possibility that we may be forced to modify or eliminate our Giveback; regulatory risks, related to the operation, development and implementation of our proprietary artificial intelligence algorithms and telematics-based pricing model; legislation or legal requirements that may affect how we communicate with customers; the cyclical nature of the insurance industry; our dependence on artificial intelligence, telematics, mobile technology and our digital platforms to collect data that we use in our business; our ability to obtain additional capital to the extent necessary to expand our business, which may not be available on terms acceptable to us or at all; our actual or perceived failure to protect customer information and other data as a result of security incidents or actual or perceived errors, failures or bugs in our systems, website or application, respect customer privacy or comply with privacy and data security laws and regulations; periodic examinations by state insurance regulators; accurately underwrite risks and charge competitive, yet profitable, rates to customers; our ability to accurately underwrite risks and charge competitive, yet profitable, rates to our customers; potentially significant expenses incurred in connection with any new products before we generate revenue from such products; risks associated with any costs incurred and other risks as we expand our business in the U.S. and internationally; our ability to comply with extensive insurance industry regulations; our ability to comply with insurance regulators and additional reporting requirements on insurance holding companies; our ability to predict the impacts of severe weather events and catastrophes, including the effects of climate change and global pandemics, on our business and the global economy generally; increased scrutiny, actions and changing expectations regarding environmental, social and governance issues; our arrangement with General Catalyst as a synthetic agent may not perform as expected; fluctuations in our operating results on a quarterly and annual basis; our use of customer and third-party data in underwriting our policies; limitations in the analytical models used to assess and forecast our catastrophe loss exposure; potential losses may be greater than our loss expense reserves and loss adjustments; the minimum capital and surplus requirements that our insurance subsidiaries are required to have; assessments and other surcharges from state guarantee funds; our status and obligations as a public benefit corporation; our operations in Israel and the current political, economic and military instability, including the evolving conflict in Israel and the surrounding region.
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These and other important factors are described under the heading “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed on February 28, 2024, and in our other subsequent filings with the SEC, and could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statements represent management’s beliefs as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
DISCLOSURE OF NEWS AND INFORMATION
Investors should note that we may use our website (investor.lemonade.com), blog (lemonade.com/blog), X (@Lemonade_Inc) and LinkedIn as a means of disseminating information and to comply with our disclosure obligations under Regulation FD. Information we publish through these channels may be considered material. Investors should monitor these channels in addition to reviewing our press releases, SEC filings and public conference calls.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240730776585/en/
Contacts
Press:
Natalia Wilson
press@lemonade.com