Thomas McJoynt-Griffith

Any interest in thinking about increasing your buybacks going, kind of, surpassing that $350 million

Is there any correlation there to the global chip and memory shortage

could be an opportunity to win select postpaid segments for the big carriers? Or are those more of an all or nothing nationally campaign?

Can you start off just rehashing reminding us all of the services that you're now providing for each of those carriers?

I want to just check in kind of what you guys are doing to make sure that you're staying on the forefront of what's happening sort of with the evolution of connected devices

A number of state regulators, you know, have announced sort of the exploration of profit caps

is there a way to think about any way to quantify any pull forward in consumer activity

the expense ratio within that segment. You guys have delivered a lot of operating leverage

looking at the full year guidance, when I unpack the various subcomponents there, so it doesn't s

mobile side and the potential impact of tariffs. It doesn't sound like you guys are expecting a sig

With the higher placement rates and seemingly ever rising average matured value, that segment cont

Do you envision the inputs of getting to 30+% in-force premium growth shifting a bit

There's been sort of a hot topic in the industry, has been around the future of distribution

I saw for the full year, the guide for stock-based comp was raised by $20 million. To clarify, is that an incremental?

Is it your vision that over the long term, most car insurance will move to a variable level of pricing rather than a fixed 6-month term premium?

Do you guys have any plans to allow tools like ChatGPT to actually bind policies for Lemonade

was there a contingent or profit share tailwind in that ceding commission in the third quarter?

How does that level compare to prior periods? And is the plan for the majority of new car customers for the foreseeable future to be CAC-less?

Do you have an update on what sort of premium leverage on a gross basis you can write at and then how that changes under this new reinsurance structure?

what percentage of the new car sales that you guys are generating are cross-sales from existing Lemonade customers versus new customers?

the changes to the Chewy partnership, was that just the expiration of the warrants? Was that separate from what's going on with the business relationship?

Is there not an ability to perhaps keep that growth spend similar and just focus on cross-selling existing products?

what you're deploying this year, is it focused on growing in any one particular product line?

Should we think of the level of growth spend in 2025 as likely to stay roughly the same in absolute terms in the years beyond 2025

can you talk about the impact of how that'll flow through, specifically on your contribution margin

The decline in revenues there was a bit more than we expect and understand the Under-65 dynamic is going on.

could you go into a bit more detail and specifics about the LLM comments that you made?

Have you seen any of the leading carriers start to pull back on advertising spend

Is there anything different about your go-to-market strategy or sales pitch

Does anything functionally or financially change with your role and your value proposition to carriers

Do you guys have any plans to either add or account managers or technology headcount

your expectation about increasing the take rate over time, is that a function of a broader array of demand partners or supply partners or both?

your strategy to optimize this trade-off between volume growth and profitability as you scale

Can you provide some more color on the mix between existing carrier spend increases versus new carrier additions?

can you just kind of clarify exactly what you mean by scale back? Does that mean a wind down?

Can you talk about the trend and the cost to acquire traffic? How does that impact your margin?

is that purely going to depend on what you see in the direct environment?

if we look at the gross accident period loss ratio, that strips out all of the noise from prior periods, that was up on the renewal book about 5 points on a year-over-year basis in the second quarter

Do you have an expectation for how much you'd expect to spend on the direct marketing channel in the coming quarters as we think about modeling?

Is that still the case? And can you just give us an update on how you view your rate adequacy across your book?

Do you have an expectation for the magnitude that we could see the average premium per policy come down?

Should we think of those as sort of the ranking that you were thinking about in terms of what's going to be most impactful to drive PIF growth?

Can you just give us some color on how that figure has trended over the last couple of years so we can get a sense of the trajectory

if we wanted to think about partnership as a percentage of earned premium, could we take a trailing 12-month average?

is the partnership channel big enough to offset an intentional pullback in the direct side to still grow through a soft market cycle?

Do you guys have a budget for what you guys plan to spend on growth spend or sales and marketing for at least the rest of this year

can you talk about your appetite to lean into growth on the direct side and what that could mean for your potential PIF growth

Can you talk about your expansion sort of strategy in individual states in terms of how long it takes to deploy marketing dollars

Was that a function of unusually strong opportunity on the direct side in the first quarter?

Can you talk about your expectations for the quarterly cadence of that growth spend for the rest of this year as well?

Are there any data points that you guys would be willing to share or disclose around what those retention versus churn metrics actually look like?

what do you expect to be the direction of the premium per policy in the year ahead?

is the fourth quarter a good run rate of that mid single-digits number?