Lemonade reported a 31% year-on-year growth in In Force Premium to $1.24 billion in the fourth quarter.
Lemonade Inc. (LMND) shares soared nearly 18% in Thursday’s pre-market trade after the company reported its ninth consecutive quarter of In Force Premium (IFP) growth acceleration.
“The strength of Q4's results reflects the compounding nature of our model. Faster growth expands our data advantage, which sharpens our AI-powered segmentation and pricing models,” Lemonade said, while noting that IFP grew 31% year-on-year to $1.24 billion in Q4.
Lemonade’s fourth-quarter (Q4) results also beat Wall Street estimates. The company reported a loss of $0.29 per share during the quarter on revenue of $228 million, while Wall Street analysts expected a loss of $0.39 per share on revenue of $218 million, according to Stocktwits data.
Retail sentiment around Lemonade trended in the ‘bullish’ territory at the time of writing, with message volumes at ‘high’ levels.
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