Lemonade Announces Second Quarter 2023 Financial Results
August 02 2023 - 4:30PM
Business Wire
Lemonade, Inc. (NYSE: LMND) has released its second quarter 2023
financial results by posting them to its website. Please view the
Q2 2023 financial results in the Letter to Shareholders on the
company’s investor relations website.
On Thursday, August 3, 2023, 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, at +1 833 470 1428 or at
+1 404 975 4839, conference ID 793094.
A live webcast of the conference call will be available on the
Lemonade Investor Relations website, investor.lemonade.com.
Following the completion of the call, a replay will also be made
available at investor.lemonade.com.
About Lemonade
Lemonade offers renters, homeowners, car, pet, and life
insurance. Powered by artificial intelligence and social impact,
Lemonade’s full stack insurance carriers in the US and the 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 United States, Germany, the Netherlands, France,
and the UK, and continues to expand globally.
Follow @lemonade_inc on Twitter for updates.
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.
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 the fact that
we may not achieve or maintain profitability in the future; risks
related to our ability to retain and expand our customer base; the
risk that the “Lemonade” brand may not become as widely known as
incumbents’ brands or the brand may become tarnished; the denial of
claims or our failure to accurately and timely pay claims; our
ability to attain greater value from each user; the novelty of our
business model and its unpredictable efficacy and susceptibility to
unintended consequences; risks related to the possibility that we
could be forced to modify or eliminate our Giveback; our limited
operating history; our ability to manage our growth effectively;
risks related to the intense competition in the segments of the
insurance industry in which we operate; risks related to the
availability of reinsurance at current levels and prices; our
exposure to counterparty risks; our ability to maintain our
risk-based capital at the required levels; risks related to our
ability to expand our product offerings; risks, including
regulatory risks, related to the operation, development, and
implementation of our proprietary artificial intelligence
algorithms and telematics based pricing model; risks related to
legislation or legal requirements that may affect how we
communicate with customers; risks related to our reliance on
artificial intelligence, telematics, mobile technology, and our
digital platforms to collect data that we utilize in our business;
risks related to our dependence on search engines, social media
platforms, digital app stores, content-based online advertising and
other online sources to attract consumers to our website and our
online app; risks related to our ability to obtain additional
capital to the extent required to grow our business, which may not
be available on terms acceptable to us or at all; risks related to
the loss of personal customer information as a result of security
incidents or real or perceived errors, failures or bugs in our
systems, website or app; risks related to periodic examinations by
our primary state insurance regulators or by insurance regulators
in other states in which we are licensed; risks related to our
actual or perceived failure to protect customer information and
other data, respect customers’ privacy, or comply with data privacy
and security laws and regulations; risks related to underwriting
risks accurately and charging competitive yet profitable rates to
customers; risks related to potentially significant expenses
incurred in connection with any new products before generating
revenue from such products; risks associated with any costs
incurred and other risks as we expand our business in the U.S. and
internationally; risks related to our ability to successfully
combine the businesses of Lemonade and Metromile and realize the
anticipated benefits of the merger; risks related to the cyclical
nature of the insurance industry; risks related to our ability to
comply with extensive insurance industry regulations and additional
regulatory requirements specific to other vertical markets that we
enter or have entered; risks related to 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; risks related to increasing scrutiny,
actions, and changing expectations on environmental, social, and
governance matters; risks related to fluctuations of our results of
operations on a quarterly and annual basis; risks related to
utilizing customer and third party data in underwriting our
policies; risks related to limitations in the analytical models
used to assess and predict our exposure to catastrophe losses;
risks related to potential losses that could be greater than our
loss and loss adjustment expense reserves; risks related to the
minimum capital and surplus requirements our insurance subsidiaries
are required to have; risks related to assessments and other
surcharges from state guaranty funds; risks related to our status
and obligations as a public benefit corporation; risks related to
significant shareholders and their ability to influence the outcome
of important transactions, including a change in control; and risks
related to our operations in Israel and the current political,
economic, and military environment.
These and other important factors described under the caption
"Risk Factors" in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2022 filed on March 3, 2023, our Quarterly
Report on Form 10-Q for the period ended March 31, 2023 filed with
the SEC on May 5, 2023, and in our other and subsequent filings
with the SEC, could cause actual results to differ materially from
those indicated by the forward-looking statements made in this
Press Release. Any such 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230802105143/en/
Yael Wissner-Levy press@lemonade.com
Lemonade (NYSE:LMND)
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