Why Is Lemonade Stock Down? Is It Time to Buy?
In this video, I will go over Lemonade's (NYSE: LMND) Q1 earnings report and talk about why this was actually a promising report, seeing as it raised guidance even after the whole Texas freeze event.
As reported, IFP growth accelerated to 89% YoY with IFP of $252 million, and about 1.1 million customers. Premium per customer increased 25% YoY to $229. Gross Earned Premium increased 84% YoY to $56 million.
Investors will have to wait until we get to see the effects of Term Life and Car Insurance. Life is still in its early days and Lemonade is still testing and iterating on the product experience to ensure it is both fantastic and delightful. As for the much anticipated Car Insurance, the company has not yet announced a launch date, and guidance currently contemplates no material contribution from car insurance.
Source Fool.com
