Lemonade Announces Second Quarter 2021 Financial Results
Lemonade, Inc. (NYSE: LMND) announced its Q2 2021 financial results, available in the Letter to Shareholders. A conference call discussing the results is scheduled for August 5, 2021, at 8:00 a.m. Eastern. Lemonade offers innovative insurance solutions using AI and aims for transparency with its Giveback initiative. The company faces various risks, including a history of losses and regulatory challenges, while striving to enhance customer retention and brand recognition.
- None.
- History of losses may affect future profitability.
- Challenges in retaining and expanding customer base.
- Risks associated with brand recognition compared to incumbents.
- Possibility of claims denials affecting reputation.
- Potential limitations on growth due to intense competition.
- Regulatory compliance costs may rise with market expansion.
Lemonade, Inc. (NYSE: LMND) has released its second quarter 2021 financial results by posting them to its website. Please view the Q2 2021 financial results in the Letter to Shareholders on the company’s investor relations website.
On Thursday, August 5, 2021, Lemonade will host a conference call at 8:00 a.m. Eastern time (5:00 a.m. Pacific time) to discuss the results.
To register for this conference call, please use this link. Registrants will receive confirmation with dial-in details. Registrants may also dial in, toll-free, at 1-844-200-6205, participant access code 616470. The call can also be accessed via webcast, using this link.
A live webcast of the conference call will be available on the Lemonade Investor Relations website, investor.lemonade.com. Following the completion of the call, a replay will also be made available at investor.lemonade.com.
About Lemonade
Lemonade offers renters, homeowners, pet, and life insurance. Powered by artificial intelligence and behavioral economics, Lemonade’s full stack insurance carriers in the US and the EU replace brokers and bureaucracy with bots and machine learning, aiming for zero paperwork and instant everything. A Certified B-Corp, Lemonade gives unused premiums to nonprofits selected by its community, during its annual Giveback. Lemonade is currently available in the United States, Germany, the Netherlands, and France, and continues to expand globally.
Follow @lemonade_inc on Twitter for updates.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our history of losses and the fact that we may not achieve or maintain profitability in the future; our ability to retain and expand our customer base; the fact that the “Lemonade” brand may not become as widely known as incumbents’ brands or the brand may become tarnished; the denial of claims or our failure to accurately and timely pay claims; our ability to attain greater value from each user; the novelty of our business model and its unpredictable efficacy and susceptibility to unintended consequences; the possibility that we could be forced to modify or eliminate our Giveback, which could undermine our business model; the results of examinations by our primary state insurance regulator that could result in adverse examinations findings and necessitate remedial actions or give rise to regulatory orders requiring remedial, injunctive, or other corrective action; our limited operating history; our ability to manage our growth effectively; the impact of intense competition in the segments of the insurance industry in which we operate on our ability to attain or increase profitability; the unavailability of reinsurance at current levels and prices, which could limit our ability to write new business; our ability to renew reinsurance contracts on comparable duration and terms to those currently in effect; our exposure to counterparty risks as a result of reinsurance; the loss of personal customer information, damage to our reputation and brand, or harm to our business and operating results as a result of security incidents or real or perceived errors, failures or bugs in our systems, website or app; our actual or perceived failure to protect customer information and other data, respect customers’ privacy, or comply with data privacy and security laws and regulations; our ability to comply with extensive insurance industry regulations and the need to incur additional costs or devote additional resources to comply with changes to existing regulations; our exposure to additional regulatory requirements specific to other vertical markets that we enter or have entered, including auto, pet and life insurance, and the need to devote additional resources to comply with these regulations; and our inability to predict the lasting impacts of COVID-19 to our business in particular, and the global economy generally. These and other important factors, discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the period ended December 30, 2020 and our other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s beliefs as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
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