Lemonade, Inc. (LMND) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everybody, and welcome to the Lemonade Q4 2025 earnings call. My name is Elliot, and I'll be coordinating your call today. If you'd like to register a question during today's event, please press star 1 on your telephone keypad. And I'd like to hand over to the Lemonade team. Please go ahead. Good morning, and welcome to Lemonade's fourth 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. The letter to shareholders covering the company's fourth quarter 2025 financial results is available on our investor relations website at Lemonade.com slash investor. I would like to remind you that management 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 most recent Form 10-K filed with the SEC and our more recent 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. Our letter to shareholders also includes information about our key performance indicators, including number...