Stock Track | Lemonade Stock Soars on Stellar Q3 Results, Raised Outlook

Stock Track11-01

Shares of Lemonade, Inc. (LMND) skyrocketed on October 31st, 2024, surging over 35% after the insurance technology company reported better-than-expected third-quarter results and raised its full-year guidance.

For the quarter ended September 2024, Lemonade posted revenue of $136.6 million, reflecting a robust 19.3% year-over-year increase. This figure surpassed analysts' consensus estimate of $128.7 million, driven by strong growth in gross earned premiums and an increase in investment income. The company's net loss for the quarter came in at $67.7 million, or $0.95 per share, significantly narrower than the expected loss of $1.02 per share.

Lemonade's impressive performance was underpinned by its continued customer acquisition success, with total customers rising 17% year-over-year to 2.3 million. Additionally, the company's gross loss ratio improved significantly to 73%, down from 83% in the prior-year quarter, reflecting the positive impact of its pricing and underwriting initiatives.

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(LMND) skyrocketed on October 31st, 2024, surging over 35% after the insurance technology company reported better-than-expected third-quarter results and raised its full-year ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LMND","symbol_name":"Lemonade, Inc.","start_time":0,"source_url":"","article_id":"1134209567","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1134209567","pubTimestamp":1730418788,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Lemonade, Inc.  skyrocketed on October 31st, 2024, surging over 35% after the insurance technology company reported better-than-expected third-quarter results and raised its full-year guidance.For the quarter ended September 2024, Lemonade posted revenue of $136.6 million, reflecting a robust 19.3% year-over-year increase. 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