Lemonade reports Q3 results

Lemonade released its Q3 2025 results, ending the quarter with 2,869,900 customers, a 24% year-over-year increase. The company added ~177k customers to its overall count during the quarter.

In-force premium was $1.15 billion, an increase of 30% compared to the same period last year.

Premium per customer stood at $403, 5% higher compared to Q3 2024.

The company spent $57.4 million on sales and marketing during the quarter compared to $51.4 million in Q3 2024.

Lemonade reported a net loss of $37.5 million in the quarter, a 45% improvement compared to the same period last year.

The company’s cash, cash equivalents, and investments totaled ~$1 billion at September 30, 2025. Approximately $278 million is carried by Lemonade’s insurance subsidiaries as regulatory surplus.