Lemonade (LMND) is higher in Friday trading (May 1, 2026) as investors continue to react to fresh quarterly disclosures and an updated outlook released around its first-quarter 2026 results. The company’s Q1 2026 shareholder letter showed rapid top-line growth, better underwriting-related metrics versus the prior year, and guidance ranges that imply continued growth through 2026. (lemonade.com)

In the Q1 2026 shareholder letter, Lemonade reported Q1 revenue of $258.0 million, up 71% year over year, and in-force premium of $1.33 billion, up 32%. Profitability indicators also improved: net loss narrowed to $35.8 million (from $62.4 million a year earlier) and adjusted EBITDA loss improved to $17.1 million (from $47.0 million). The letter also showed adjusted free cash flow turning positive at $17.4 million in the quarter. (lemonade.com)

Management’s guidance table in the same letter listed Q2 2026 revenue guidance of $287–$290 million and full-year 2026 revenue guidance of $1.197–$1.203 billion, along with a full-year adjusted EBITDA loss guide of $51–$47 million. The company also reiterated its expectation to deliver positive adjusted EBITDA in Q4 2026. (lemonade.com)

Lemonade’s short interest has been elevated, with about 10.98 million shares sold short as of March 31, 2026, representing roughly 16.85% of the public float—conditions that can magnify upside moves when sentiment improves. (marketbeat.com)