Lemonade, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 02:17 am IST
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Lemonade, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 104.6 million compared to USD 50 million a year ago. Net loss was USD 67.2 million compared to USD 67.9 million a year ago. Basic loss per share from continuing operations was USD 0.97 compared to USD 1.1 a year ago.
For the six months, revenue was USD 199.8 million compared to USD 94.3 million a year ago. Net loss was USD 133 million compared to USD 142.7 million a year ago. Basic loss per share from continuing operations was USD 1.92 compared to USD 2.31 a year ago.
Lemonade, Inc. offers renters, homeowners, car, pet, and life insurance. The Company's full stack insurance carriers, powered by artificial intelligence, in the United States and the European Union replace brokers and bureaucracy with bots and machine learning. The Company's digital substrate enables it to integrate marketing and onboarding with underwriting and claims processing, collecting and deploying data. Its technology includes Data Advantage, AI Maya, AI Jim, CX.AI, Forensic Graph, Blender and Cooper. AI Maya, its onboarding and customer experience bot, uses natural language to guide customers in joining the Company. AI Jim, its claims bot, takes the first notice of loss from its customer making a claim, paying the claimant or declining the claim without human intervention. It offers pet insurance that covers diagnostics, procedures, medication, accidents or illness. Even its basic pet insurance offering covers blood tests, urinalysis, lab work, and computed tomography scans.
LEMONADE, INC. 
