Lemonade reported total revenue of $136.6 million in Q3 2024, up 19% year-over-year, driven by a 26% increase in gross written premium to $268.9 million. The company's customer base grew 17% to 2.31 million, while premium per customer rose 6% to $384. Net loss widened to $67.7 million from $61.5 million in Q3 2023, with a gross loss ratio of 73%.The company's gross earned premium increased 23% to $213.1 million, while net earned premium rose 11% to $95.7 million. Ceding commission income grew 44% to $24 million, reflecting increased reinsurance activity. Operating expenses increased primarily due to sales and marketing costs, which more than doubled to $51.4 million, while technology development remained flat at $21.9 million.Looking ahead, Lemonade renewed its reinsurance program through June 2025, maintaining approximately 55% premium cession. The company secured additional financing of $140 million from GC Customer Value Arranger for marketing growth through 2025, with $67.4 million drawn as of September 30. Cash and investments stood at $970.6 million, with management expressing confidence in sufficient working capital for at least the next 12 months.

Lemonade reported total revenue of $136.6 million in Q3 2024, up 19% year-over-year, driven by a 26% increase in gross written premium to $268.9 million. The company's customer base grew 17% to 2.31 million, while premium per customer rose 6% to $384. Net loss widened to $67.7 million from $61.5 million in Q3 2023, with a gross loss ratio of 73%.The company's gross earned premium increased 23% to $213.1 million, while net earned premium rose 11% to $95.7 million. Ceding commission income grew 44% to $24 million, reflecting increased reinsurance activity. Operating expenses increased primarily due to sales and marketing costs, which more than doubled to $51.4 million, while technology development remained flat at $21.9 million.Looking ahead, Lemonade renewed its reinsurance program through June 2025, maintaining approximately 55% premium cession. The company secured additional financing of $140 million from GC Customer Value Arranger for marketing growth through 2025, with $67.4 million drawn as of September 30. Cash and investments stood at $970.6 million, with management expressing confidence in sufficient working capital for at least the next 12 months.