Lemonade Cut Its Adjusted EBITDA Loss From $41 Million to $19 Million. Now It Has Promised Breakeven by Q4.
Its revenue spiked 79% in the latest quarter.
Overview
Lemonade (NYSE: LMND) is a pioneer in using artificial intelligence to process insurance claims. When it first debuted on the market in July 2020, there was a lot of excitement in those post-COVID days when tech stocks surged.
But then reality set in, and investors realized it would be a while before this fintech start-up would turn a profit.
Details
Six years later, those days are upon us. In its second-quarter letter to shareholders, management said Lemonade anticipates positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the fourth quarter of 2026. This would be the first-ever quarter of positive adjusted EBITDA for Lemonade. The firm projects about $8 million in adjusted EBITDA in Q4.
Source
Originally published at www.fool.com.