Lemonade, Inc. (LMND) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you all for attending the LemonAid Q3 2025 earnings call. My name is Brica and I'll be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I will now hand over to the LemonAid team to begin. Good morning, and welcome to Lemonade's third quarter 2025 earnings call. Joining us on our call today, we have Daniel Schreiber, CEO and co-founder, Shai Winninger, president and co-founder, and Tim Bixby, chief financial officer. A letter to shareholders covering the company's third 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. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in our letter to shareholders and the risk factors section of our Form 10-K filed with the SEC on February 26, 2025. 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. Our letter to shareholders also includes information about our certain performance metrics, a definition of each metric, why each is useful to investors, and how we use eac...