\ Shareholder Letter Q4 2023 Dear Shareholders, We’re happy to report on a strong fourth quarter and an upbeat outlook for 2024. • Top line: At 747million,in−forcepremium(IFP)grewby20747 million, in-force premium (IFP) grew by 20% year on year, while revenue grew 31%. • Loss Ratio: At 77%, gross loss ratio showed a 12 point year on year improvement. • Gross Profit: climbed 165% year on year, while Gross Profit Margin more than doubled to 29%. • Operating Expense: contracted 5% year on year. • Cash & Investments: At 747million,in−forcepremium(IFP)grewby20945 million, cash and invest ...
Lemonade(LMND)2024-02-27 00:00