Lemonade, Inc. (LMND) Q2 2025 Earnings Call

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WEBVTT 00:00:00.000 -- 00:00:04.840 Good morning and welcome to Lemonade second quarter 2025 earnings call. 00:00:04.840 -- 00:00:10.740 Joining us on our call today, we have Daniel Schreiber, CEO and co-founder, Shai Winninger, 00:00:10.740 -- 00:00:16.160 president and co-founder, Tim Bixby, chief financial officer, and Nick Stead, 00:00:16.160 -- 00:00:21.660 SVP Finance. A letter to shareholders covering the company's second quarter 2025 00:00:21.660 -- 00:00:26.880 financial results is available on our investor relations website at lemonade.com 00:00:26.880 -- 00:00:31.380 slash investor. I would like to remind you that management's remarks made on this call 00:00:31.380 -- 00:00:36.040 may contain forward looking statements within the meaning of the private securities litigation 00:00:36.040 -- 00:00:39.320 reform act of 1995. 00:00:39.320 -- 00:00:43.880 Actual results may differ materially from those indicated by these forward looking statements 00:00:43.880 -- 00:00:48.940 as a result of various important factors, including those discussed in the risk factor 00:00:48.940 -- 00:00:54.700 section of our form 10 K filed with the SEC on February 26th, 00:00:54.700 -- 00:00:59.840 2025, and our other filing with the SEC. Any forward looking statements 00:00:59.840 -- 00:01:04.980 made on this call represent our views only as of today, and we undertake no obligation 00:01:04.980 -- 00:01:10.040 to update them. We will be referring to certain non-GAAP financial measures on today's 00:01:10.040 -- 00:01:15.320 call, including adjusted EBITDA, adjusted free cash flow and adjusted gross profit, 00:01:15.320 -- 00:01:20.560 which we believe may be important to investors to assess our operating performance. 00:01:20.560 -- 00:01:25.020 Reconciliation of our non-GAAP fin...