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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Thomas McJoynt-Griffith | KBW | 15 questions · 13% challenging |
| Jason Helfstein | Oppenheimer | 9 questions · 0% challenging |
| Andrew Andersen | Jefferies | 6 questions · 0% challenging |
| Katie Sakys | Autonomous Research | 6 questions · 50% challenging |
| Bob Huang | Morgan Stanley | 6 questions · 17% challenging |
| Jack Matten | BMO Capital Markets | 4 questions · 0% challenging |
| Andrew Kligerman | TD Cowen | 3 questions · 0% challenging |
| Matt O'Neill | Bank of America | 2 questions · 0% challenging |
| Ryan Tunis | Cantor Fitzgerald | 2 questions · 0% challenging |
| Mike Zaremski | BMO Capital Markets | 2 questions · 50% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| KBW | 1 analyst | 15 questions · 13% challenging |
| Oppenheimer | 1 analyst | 9 questions · 0% challenging |
| Jefferies | 1 analyst | 6 questions · 0% challenging |
| Autonomous Research | 1 analyst | 6 questions · 50% challenging |
| BMO Capital Markets | 2 analysts | 6 questions · 17% challenging |
| Morgan Stanley | 1 analyst | 6 questions · 17% challenging |
| TD Cowen | 1 analyst | 3 questions · 0% challenging |
| Bank of America | 1 analyst | 2 questions · 0% challenging |
On July 27, 2026, Lemonade's board approved the transition of Chief Financial Officer Tim Bixby out of the CFO role effective January 1, 2027, moving him to a Class III member of the board. The board appointed Nick Stead, 33, currently SVP Finance, as Chief Financial Officer effective January 1, 2027, designated as principal financial officer and principal accounting officer. Stead joined Lemonade in December 2019 and returned as VP Finance in March 2023.
What each event means for LMND’s sentiment score is part of Tellvest Pro.
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 | Product Launch | Capital Allocation | Competitive Dynamics | Revenue Growth | Subscriber Growth | Innovation & R&D | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 6 | 3 | 2 | 3 | 1 | 1 | |
| 2025Q1 | 3 | 3 | 2 | 1 | 1 | 3 | 1 | 2 |
| 2025Q2 | 2 | 3 | ||||||
| 2025Q3 | 2 | 1 | 1 | 1 | 1 | 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 | 2 | 2 | 4 |
| Product Launch | 6 | 3 | 1 | 2 | 1 | |
| Capital Allocation | 3 | 2 | 3 | 1 | 2 | 1 |
| Competitive Dynamics | 2 | 1 | 2 | 4 | ||
| Revenue Growth | 3 | 1 | 1 | 3 | ||
| Subscriber Growth | 1 | 3 | 1 | 1 | 1 | |
| Innovation & R&D | 1 | 2 | 4 | |||
| Guidance Reliability | 1 | 2 | 1 | 1 | 1 |
Calendar quarter Q1 2026Earnings call Apr 29, 2026
FY2026 Q1 in brief
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.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
GAAP revenue YoY +55.0% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Lemonade, Inc. (LMND), FY2026 Q1: 9/10. Scores: Lemonade, Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: LMND daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Net margin |
|---|---|---|---|---|---|
| FY2024 Q4 | $149M | +28.8% | $-0.42 | +31.1% | -20.2% |
| FY2025 Q1 | $151M | +27.0% | $-0.86 | -28.4% | -41.3% |
| FY2025 Q2 | $164M | +34.5% | $-0.60 | +25.9% | -26.8% |
| FY2025 Q3 | $195M | +42.4% | $-0.51 | +46.3% | -19.3% |
| FY2025 Q4 | $228M | +53.3% | $-0.29 | +31.0% | -9.5% |
| FY2026 Q1Selected | $258M | +70.6% | $-0.47 | +45.3% | -13.9% |
| FY2026 Q2 | $294M | +79.4% | $-0.56 | +6.7% | -14.7% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What LMND said about other companies on its FY2026 Q1 call, and what other companies said about LMND on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“our market share is maybe 0.1% of what a Progressive or GEICO is right now”
Lemonade cites Berkshire Hathaway's GEICO as a large auto-insurance incumbent dwarfing Lemonade's market share, highlighting GEICO's scale.
“our market share is maybe 0.1% of what a Progressive or GEICO is right now”
Lemonade frames Progressive as a dominant auto-insurance incumbent against which its own share is tiny, underscoring Progressive's scale in the car market.
“whether it's homesite or Chewy or real estate management or landlords”
Chewy is cited as one of Lemonade's referral/partner distribution channels driving sales, a modest partnership signal for Chewy's pet ecosystem.
“partnering with Tesla to price per mile and per version of the AI that's driving”
Lemonade partners with Tesla to price auto insurance per mile and by the autonomous-driving software version in use, tying its differentiated car product to Tesla vehicles.
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| LMNDLemonade, Inc. | 9 | +55.0% | 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 | |
| AIZAssurant | 8 | +11.3% | Assurant delivered its strongest first quarter on record, with total revenue up 11% and adjusted EBITDA up 6% and adjusted EPS up 9%, both excluding reportable catastrophes | |
| ALLAllstate | 7 | +4.2% | Allstate delivered Q1 revenue of $16.9 billion up 3% with adjusted EPS of $10.65 as the underlying combined ratio improved 2.8 points to 80.3% and the recorded combined ratio reached 82% with underwriting income of $2.7 billion | |
| CBChubb Limited | 7 | +9.5% | Excellent P&C underwriting at 84% combined ratio | |
| CINFCincinnati Financial | 7 | +11.6% | Non-GAAP operating income surges to $330M from Q1 loss | |
| KMPRKemper Corporation | 2 | -6.8% | California Personal Auto Remains Primary Headwind | |
| LLoews Corporation | 5 | +2.6% | CNA reserve charge and higher underlying loss ratio drive earnings decline | |
| MCYMercury General Corporation | 8 | +10.5% | Mercury General's Q1 2026 demonstrated the underlying strength of the franchise with a combined ratio of 89.3% and net income of $190 million ($3.44 per share), a dramatic reversal from the prior-year Q1 net loss of $108 million during the wildfire catastrophe | |
| PGRProgressive Corporation | 7 | +8.7% | Progressive delivered 8.7% revenue growth with extraordinary profitability, maintaining personal auto combined ratios below 90 in nine of the last ten quarters | |
| ROOTRoot, Inc. | 8 | +12.6% | Root delivered its most profitable quarter ever with $36 million in net income and an annualized ROE of 47%, reversing the prior quarter's expectation of lower 2026 net income | |
| TRVThe Travelers Companies, Inc. | 5 | +1.0% | Travelers delivered record underwriting income with a core ROE of 19.7%, generating $1.7 billion in core income as the combined ratio remained excellent at 88.6% despite elevated catastrophe activity | |
| WRBW. R. Berkley Corporation | 6 | +4.0% | Record Net Investment Income Drives Earnings Growth |
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
Assurant delivered its strongest first quarter on record, with total revenue up 11% and adjusted EBITDA up 6% and adjusted EPS up 9%, both excluding reportable catastrophes
Allstate delivered Q1 revenue of $16.9 billion up 3% with adjusted EPS of $10.65 as the underlying combined ratio improved 2.8 points to 80.3% and the recorded combined ratio reached 82% with underwriting income of $2.7 billion
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| LMND | 9 | 8 | 9 | 9 | 9 | 9 |
| AIZ | 8 | 7 | 7 | 8 | 7 | 8 |
| ALL | 8 | 6 | 7 | 7 | 6 | 7 |
| CB | 6 | 5 | 7 | 8 | 7 | 7 |
| CINF | 9 | 6 | 8 | 8 | 6 | 7 |
| KMPR | 6 | 7 | 5 | 5 | 3 | 2 |
| L | 7 | 5 | 6 | 7 | 7 | 5 |
| MCY | 6 | 6 | 8 | 7 | 7 | 8 |
| PGR | 8 | 8 | 9 | 7 | 7 | 7 |
| ROOT | 9 | 9 | 9 | 7 | 7 | 8 |
| TRV | 8 | 7 | 8 | 8 | 7 | 5 |
| WRB | 9 | 6 | 6 | 7 | 4 | 6 |
Excellent P&C underwriting at 84% combined ratio
Non-GAAP operating income surges to $330M from Q1 loss
CNA reserve charge and higher underlying loss ratio drive earnings decline
Mercury General's Q1 2026 demonstrated the underlying strength of the franchise with a combined ratio of 89.3% and net income of $190 million ($3.44 per share), a dramatic reversal from the prior-year Q1 net loss of $108 million during the wildfire catastrophe
Progressive delivered 8.7% revenue growth with extraordinary profitability, maintaining personal auto combined ratios below 90 in nine of the last ten quarters
Root delivered its most profitable quarter ever with $36 million in net income and an annualized ROE of 47%, reversing the prior quarter's expectation of lower 2026 net income
Travelers delivered record underwriting income with a core ROE of 19.7%, generating $1.7 billion in core income as the combined ratio remained excellent at 88.6% despite elevated catastrophe activity
Record Net Investment Income Drives Earnings Growth