Lemonade slides as gross written premiums miss estimates

"We steadily progress towards our first adj. EBITDA positive quarter, which we continue to expect in Q4 2026," Lemonade said in a shareholder letter.

Separately, LMND said Nick Stead, 33, currently senior vice president finance, will become chief financial officer effective Jan. 1, 2027. Stead will succeed Tim Bixby, who will transition from CFO to a Class III member of the board.

Including the session's move, the stock is down 32.4% year to date.

• Shares of insurer Lemonade LMND.N were down 22% to $48.26.
• It reported gross written premium of $380.8 million versus analysts' estimates of $396.4 million, according to data compiled by LSEG.
• The company reported a net loss of $43.4 million, compared with analysts' estimate of a loss of $43.18 million, according to data compiled by LSEG.