Lemonade, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 02:20 am IST
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Lemonade, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 114.5 million compared to USD 74 million a year ago. Net loss was USD 61.5 million compared to USD 91.4 million a year ago. Basic loss per share from continuing operations was USD 0.88 compared to USD 1.37 a year ago.
For the nine months, revenue was USD 314.3 million compared to USD 168.3 million a year ago. Net loss was USD 194.5 million compared to USD 234.1 million a year ago. Basic loss per share from continuing operations was USD 2.8 compared to USD 3.69 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. 
