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Lemonade | 10-Q: Q2 2024 Earnings Report

Lemonade | 10-Q: Q2 2024 Earnings Report

Lemonade | 10-Q：2024财年二季报
美股SEC公告 ·  2024/08/01 04:56

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Lemonade reported Q2 2024 total revenue of $122.0 million, up 17% year-over-year, while net loss narrowed to $57.2 million from $67.2 million in Q2 2023. Gross written premium increased 24% to $226.2 million, driven by a 14% rise in customers to 2.17 million and an 8% increase in premium per customer to $387. Net earned premium grew 17% to $89.3 million.Loss and loss adjustment expense decreased 7% to $70.5 million, reflecting improved loss ratios and reduced catastrophe impacts. The gross loss ratio improved to 79% from 94% in Q2 2023. The company maintained proportional reinsurance contracts providing 55% protection on covered risks, with ceded earned premium representing approximately 55% of gross earned premium.The company ended Q2 with $343.2 million in cash and $581.2 million in investments. Under its financing agreement with GC Customer Value Arranger, Lemonade has access to up to $290 million through 2025, with $43.9 million borrowed as of June 30. The company expects current cash and investments to be sufficient for at least the next 12 months.
Lemonade reported Q2 2024 total revenue of $122.0 million, up 17% year-over-year, while net loss narrowed to $57.2 million from $67.2 million in Q2 2023. Gross written premium increased 24% to $226.2 million, driven by a 14% rise in customers to 2.17 million and an 8% increase in premium per customer to $387. Net earned premium grew 17% to $89.3 million.Loss and loss adjustment expense decreased 7% to $70.5 million, reflecting improved loss ratios and reduced catastrophe impacts. The gross loss ratio improved to 79% from 94% in Q2 2023. The company maintained proportional reinsurance contracts providing 55% protection on covered risks, with ceded earned premium representing approximately 55% of gross earned premium.The company ended Q2 with $343.2 million in cash and $581.2 million in investments. Under its financing agreement with GC Customer Value Arranger, Lemonade has access to up to $290 million through 2025, with $43.9 million borrowed as of June 30. The company expects current cash and investments to be sufficient for at least the next 12 months.
Lemonade报告2024年第二季度总营业收入为$12200万，同比增长17%，净亏损从2023年第二季度的$6720万缩小至$5720万。毛保费增长24%，达到$22620万，主要得益于客户数量增长14%至217万，以及每位客户的保费增加8%至$387。净赚保费增长17%，达$8930万。损失和损失调整费用减少7%，降至$7050万，反映出损失率改善和灾害影响减少。毛损失率从2023年第二季度的94%改善至79%。公司维持比例再保险合同，为承保风险提供55%的保护，其中转移的已赚保费约占毛已赚保费的55%。公司在第二季度结束时拥有$34320万现金和$58120万投资。根据与GC客户价值安排者的融资协议，Lemonade可在2025年前获得高达$29000万的融资，截至6月30日已借款$4390万。公司预计当前现金和投资在未来至少12个月内将是足够的。
Lemonade报告2024年第二季度总营业收入为$12200万，同比增长17%，净亏损从2023年第二季度的$6720万缩小至$5720万。毛保费增长24%，达到$22620万，主要得益于客户数量增长14%至217万，以及每位客户的保费增加8%至$387。净赚保费增长17%，达$8930万。损失和损失调整费用减少7%，降至$7050万，反映出损失率改善和灾害影响减少。毛损失率从2023年第二季度的94%改善至79%。公司维持比例再保险合同，为承保风险提供55%的保护，其中转移的已赚保费约占毛已赚保费的55%。公司在第二季度结束时拥有$34320万现金和$58120万投资。根据与GC客户价值安排者的融资协议，Lemonade可在2025年前获得高达$29000万的融资，截至6月30日已借款$4390万。公司预计当前现金和投资在未来至少12个月内将是足够的。
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