Tom McJoynt

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

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

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

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

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

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

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

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?

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?

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

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?

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?

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

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

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

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

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?

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

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 expansion sort of strategy in individual states in terms of how long it takes to deploy marketing dollars

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

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

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?

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?