Lemonade achieves nationwide renters insurance availability and record Q3 profit

Lemonade has completed its nationwide rollout of renters insurance following a launch in Minnesota, making the product available in all 50 U.S. states and Washington, D.C. Coverage for the product starts at $5 per month and can be managed via the company’s website or mobile app.

In its Q3 2026 financial results, the AI-driven insurance company reported a record quarterly gross profit of $118.1 million, representing a 48% increase from the previous year. Revenue for the quarter rose 73% to $336.1 million, driven by growth in gross earned premium and higher premium retention rates.

While in-force premium grew 34% year-on-year to $1.55 billion, the company’s net loss widened to $43.7 million, compared to $37.5 million in the prior year. Lemonade attributed this widening loss primarily to increased interest expenses and higher stock-based compensation. The gross loss ratio was reported at 65%, up from 62% in the same period last year.