Lemonade's Full-Year In-Force Premium Outlook Misses Expectations. Is the Growth Story Slowing or Just Repricing?

Lemonade’s shares fell after it reported Q2 results on July 29, with the online insurer posting revenue up 79% year over year to $294 million, beating analysts by $3 million. Net loss narrowed to $43.4 million from $43.9 million, or $0.56 per share, matching consensus. The disappointment came from its full-year in-force premium (IFP) guidance, which slightly missed Wall Street’s expectations. For 2026, Lemonade expects IFP growth of 32%-33% and gross earned premium (GEP) growth of 31%, along with 65% revenue growth. Despite the outlook, it reiterated plans to reach positive adjusted EBITDA by Q4 2026.