Lemonade, Inc. (LMND) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome everyone to the Lemonade Q1 2025 earnings call. My name is Maxine and I'll be coordinating the call today. If you would like to ask a question, you may do so by pressing star followed by one on your telephone keypad. I will now hand you over to the Lemonade team to begin. Please go ahead. Good morning and welcome to Lemonade's first quarter 2025 earnings call. Joining us on our call today, we have Daniel Schreiber, CEO and co-founder, Michal Unger, chief product officer and leader of our car business, and Tim Bixby, chief financial officer. A letter to shareholders covering the company's first quarter 2025 financial results is available on our investor relations website at lemonade.com backslash investor. I would like to remind you that management's remarks made on this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the risk factors section of our Form 10-K filed with the SEC on February 26, 2025, and our other filings with the SEC. Any forward-looking statements made on this call represent our views only as of today, and we undertake no obligation to update them. We will be referring to certain non-GAAP financial measures on today's call, including adjusted EBITDA, adjusted free cash flow, and adjusted gross profit. which we believe may be important to investors to assess our operating performance. Reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures are included in our letter to shareholders. The letter to shareholders also includes information about our key pe...