Lemonade Q3 Loss Better Than Feared During a Busy Hurricane Season

seekingalpha10-31

Lemonade (NYSE:LMND) stock jumped 10.9% in Wednesday after-hours trading after Q3 results topped Wall Street expectations, even as the company saw elevated catastrophe losses during a quarter marked ...

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It didn't provide specific guidance for Q4 2024, but said it would share more at its investor day in a couple of weeks.Q3 GAAP EPS of -$0.95, beating the -$1.02 consensus, slid from -$0.81 in Q2 and -$0.88 in last year's Q3. Total revenue of $136.6M, beating the $126.5M consensus, rose from $122.0M in the previous quarter and $114.5M a year ago.\"Diversification has been an extremely powerful tool in driving resiliency in our model, enabling us to deliver sustained sequential improvement in the gross loss ratio, notwithstanding a punishing CAT season,\" saidIn-force premium was $889M, vs. Visible Alpha consensus of $878M and up 24% Y/Y.Customer count increased 17% Y/Y to 2.313M. 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