Earnings call briefThird-quarter 2026
Lemonade says its pet loss ratio is expected to moderate over time
Lemonade said the growth rate of its growth spend is expected to slow significantly in the fourth quarter of 2026 and onward.
GetSignal Lemonade LMND
On its third-quarter call, Lemonade said it is taking rate to offset vet cost inflation in pet. SVP, Finance Nicholas Stead said a modest pet loss ratio headwind is the primary reason revenue guidance rose while adjusted EBITDA guidance stayed stable.
Stead also said stock-based compensation is not expected to drive year-over-year expense growth beginning in Q2 2027.
Quotes from the call
“And as a result, that loss ratio is expected to moderate over time.”
Key facts from the call
- Expected Q4 and full-year 2026 IFP growth
- 33%, at the high end of guidance range
- Expected Q4 2026 revenue growth
- Roughly 52%
- Expected full-year 2026 revenue growth
- Roughly 67%
- Pet share of business
- 40%
Source: Lemonade's third-quarter 2026 earnings call, November 5, 2026.
Written by GetSignal with AI from the company's earnings call.
Not investment advice.
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