Lemonade, Inc. (LMND) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Lemonade second quarter 2025 earnings call. Joining us on our call today, we have Daniel Schreiber, CEO and co-founder, Shai Winninger, president and co-founder, Tim Bixby, chief financial officer, and Nick Stead, SVP Finance. A letter to shareholders covering the company's second quarter 2025 financial results is available on our investor relations website at lemonade.com slash 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 factor section of our form 10 K filed with the SEC on February 26th, 2025, and our other filing 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. Reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measures are included in our letter to shareholders. Our letter to shareholders also includes information about our key performance indicators, including customers, imports premium, premium per customer, annual dollar retention, gross earned premium, gross loss ratio, gross loss ratio XCAT, trailing 12 month loss ratio and net loss ratio, and a definition of each metric, why each is useful to investors and how we use each to monitor ...