Insurtech Lemonade reported a third quarter 2026 net loss of about $43.7 million compared with a loss of about $37.5 million during the same time in 2025.
For the nine months ended Sept. 30, Lemonade has posted a net loss of $122.9 million compared with a net loss of $143.8 million a year ago.
In a letter to shareholders, Lemonade characterized its latest quarterly results as “excellent,” with positive topline growth. In force premium (IFP) grew for the 12th straight quarter, up 34%, to $1.55 billion.
Q3 revenue was up 73% to $336.1 million but operating expenses increased to nearly $192 million from $141.2 million during Q3 2025 as the insurer invested in sales and marketing to grow.
“We expect the growth rate of IFP to notably outpace that of growth spend from Q4 2026 onward,” Lemonade said.
Customer count increased by 23% to about 3.5 million. Lemonade said its technology platform has allowed it to “enter new markets with greater speed and less incremental overhead.” The insurer of home, renters, auto and pets said it now offers renters insurance nationwide, and its car product is now available in 14 states.
Lemonade reiterated it is on track to post its first adjusted EBITDA-positive quarter in the fourth quarter 2026.
Topics
InsurTech
Profit Loss
Tech
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