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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Tom McJoynt | KBW | 13 | 15% |
| Katie Sakys | Autonomous Research | 8 | 38% |
| Jason Helfstein | Oppenheimer | 7 | 0% |
| Andy Kligerman | TD Cowen | 4 | 0% |
| Andy Andersen | Jefferies | 4 | 0% |
| Jian Huang | Morgan Stanley | 4 | 0% |
| Francis Matten | BMO Capital Markets | 3 | 0% |
| Matt O'Neill | FT Partners | 2 | 0% |
| Mike Zaremski | BMO Capital Markets | 2 | 50% |
| Rob Huang | Morgan Stanley | 2 | 50% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| KBW | 1 | 13 | 15% |
| Autonomous Research | 1 | 8 | 38% |
| BMO Capital Markets | 3 | 7 | 14% |
| Oppenheimer | 1 |
| 7 |
| 0% |
| Morgan Stanley | 2 | 6 | 17% |
| Jefferies | 1 | 4 | 0% |
| TD Cowen | 1 | 4 | 0% |
| FT Partners | 1 | 2 | 0% |
Lemonade extended its growth acceleration streak to 10 consecutive quarters with IFP reaching $1.33 billion (+32% YOY), while the QS reinsurance transition propelled revenue up 71% to $258 million and gross profit up 159% to $100 million. The adjusted EBITDA loss narrowed 64% to $17 million with adjusted free cash flow positive at $17 million, maintaining the path toward Q4 2026 EBITDA breakeven. Pet insurance crossed the $500 million IFP milestone as the largest product line, while car grew roughly 60% and already comprises about one-third of new sales. Management raised FY2026 guidance to 33% IFP growth and roughly 63% revenue growth, though stock-based comp guidance increased $20 million to $95 million due to multiyear founder equity grants.
Margin | Capital Allocation | Product Launch | Competitive Dynamics | Revenue Growth | Subscriber Growth | Innovation & R&D | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 3 | 6 | 2 | 3 | 1 | 1 | |
| 2025Q1 | 3 | 2 | 3 | 1 | 1 | 3 | 1 | 2 |
| 2025Q2 | 2 | 3 | ||||||
| 2025Q3 | 4 | 2 | 1 | 1 | 1 | 2 | 1 | |
| 2025Q4 | 2 | 2 | 2 | 2 | 1 | 2 | 1 | |
| 2026Q1 | 4 | 1 | 1 | 4 | 3 | 1 | 4 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Margin | 3 | 3 | 2 | 4 | 2 | 4 |
| Capital Allocation | 3 | 2 | 3 | 2 | 2 | 1 |
| Product Launch | 6 | 3 | 1 | 2 | 1 | |
| Competitive Dynamics | 2 | 1 | 1 | 2 | 4 | |
| Revenue Growth | 3 | 1 | 1 | 3 | ||
| Subscriber Growth | 1 | 3 | 2 | 1 | 1 | |
| Innovation & R&D | 1 | 2 | 4 | |||
| Guidance Reliability | 1 | 2 | 1 | 1 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
LMND Lemonade, Inc. | 9 | +55.0% | |
| ALL Allstate | 7 | +4.2% | |
| CB Chubb Limited | 7 | +9.5% | |
| CINF Cincinnati Financial | 7 | +11.6% | |
| ERIE Erie Indemnity | 6 | +2.3% | |
| KMPR Kemper Corporation | 2 | -6.8% | |
| L Loews Corporation | 5 | +2.6% | |
| MCY Mercury General Corporation | 8 | +10.5% | |
| PGR Progressive Corporation | 7 | +8.7% | |
| ROOT Root, Inc. | 8 | +12.6% | |
| TRV The Travelers Companies, Inc. | 5 | +1.0% | |
| WRB W. R. Berkley Corporation | 6 | +4.0% |