2024-05-01 11:08:07 ET
Lemonade, Inc. (LMND)
Q1 2024 Earnings Conference Call
May 01, 2024 08:00 A.M. ET
Company Participants
Yael Wissner-Levy - VP of Communications
Daniel Schreiber - Co-Founder & CEO
Shai Wininger - President & Co-Founder
Tim Bixby - CFO
Conference Call Participants
Unidentified Analyst -
Yaron Kinar - Jefferies
Tommy McJoynt - KBW
Jason Helfstein - Oppenheimer
Katie Sakys - Autonomous Research
Andrew Kligerman - TD Cowen
Matt Smith - Halter Ferguson Financial
Bob Huang - Morgan Stanley
Presentation
Operator
Good morning everyone and welcome to the Lemonade First Quarter 2024 Financial Results. My name is Angela and I'll be coordinating your call today. [Operator Instructions]. I will now hand you over to your host, Yael Wissner-Levy from the VP of Communications at Lemonade. Please go ahead.
Yael Wissner-Levy
Good morning, and welcome to Lemonade's first quarter 2024 earnings call. My name is Yael Wissner-Levy and I’m the VP Communications at Lemonade. Joining me today to discuss our results are Daniel Schreiber, CEO and Co-Founder; Shai Wininger, President and Co-Founder; and Tim Bixby, our Chief Financial Officer. A letter to shareholders covering the company's first quarter 2024 financial results is available on our Investor Relations website, investor.lemonade.com.
Before we begin, I would like to remind you that management's remarks on this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of our 2023 Form 10-K filed with the SEC on February 28, 2024 and our other filings with the SEC. Any forward-looking statements on this call represent our views only as of today, and we undertake no obligation to update them.
We will be referring to certain non-GAAP financial measures on today's call, such as adjusted EBITDA and adjusted gross profit, which we believe may be important to investors to assess their operating performance. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in our Letter to Shareholders. Our Letter to Shareholders also includes information about our key performance indicators, including customers' in-force premium, premium per customer, annual dollar retention, gross earned premium, gross loss ratio, gross loss ratio ex-CAT, and net loss ratio, and a definition of each metric, why each is useful to investors and how we use each to monitor and manage our business. With that, I will turn the call over to Daniel for some opening remarks. Daniel?...
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Lemonade, Inc. (LMND) Q1 2024 Earnings Call Transcript