Lemonade Falls on Better-Than-Expected Results: Time to Buy?
Insurance disruptor Lemonade (NYSE: LMND) reported third-quarter results after Tuesday's market close that surpassed management's own expectations for both revenue and bottom-line earnings. However, the news wasn't all good, and there is one key metric that is likely responsible for the stock's muted reaction to the report.
With that in mind, here's an overview of Lemonade's latest results, where the business stands, and the pros and cons investors should keep in mind.
As mentioned, Lemonade's third-quarter numbers generally looked great. In-force premium grew by 76% year over year, and the company has about 1.78 million total customers, 30% more than a year ago. Even though 32 percentage points of the premium growth came from the Metromile acquisition, this is still an impressive figure.
Source Fool.com
