Lemonade reports Q1 2026 results

Lemonade released its Q1 2026 results, ending the quarter with 3,142,581 customers, a 23% year-over-year increase. The company added ~158k customers to its overall count during the quarter.

In-force premium was $1.33 billion, an increase of 32% compared to the same period last year.

Premium per customer stood at $424, 7% higher compared to Q1 2025.

The company spent $66 million on sales and marketing during the quarter compared to $43 million in Q1 2025.

Lemonade reported a net loss of $35.8 million in the quarter, an improvement from the $62.4 million loss in Q1 2025.

Pet insurance is Lemonade’s largest line of business, surpassing $500 million IFP early in the second quarter. Lemonade is now the 4th largest pet insurance carrier by written premium.

The company’s cash, cash equivalents, and investments totaled approximately $1.14 billion at March 31, 2026. Approximately $290 million is carried by Lemonade’s insurance subsidiaries as regulatory surplus.