Lemonade reports $43.7 million net loss for Q3 2026

Insurtech company Lemonade reported a third quarter 2026 net loss of approximately $43.7 million, compared to a loss of $37.5 million during the same period in 2025. Despite the loss, the company reported a 73% increase in Q3 revenue to $336.1 million and a 34% rise in in-force premium (IFP) to $1.55 billion.

Management attributed the increased operating expenses, which rose to nearly $192 million, to investments in sales and marketing. The company expects its growth rate in IFP to outpace growth spending starting in the fourth quarter of 2026 and reiterated its goal to achieve its first adjusted EBITDA-positive quarter during that period.

Lemonade highlighted the role of its proprietary technology platform, Lemonade OS, in driving efficiency and geographic expansion. The platform has enabled the company to offer renters insurance nationwide and expand its car insurance product to 14 states, including recent launches in Florida, Missouri, and Pennsylvania. The company also noted that cross-sales have surpassed $100 million year-to-date.