Lemonade's Q1: Beating Expectations With Bundling
After regular trading hours on Monday, Lemonade (NYSE: LMND) released its first-quarter results. The company beat on both the top and bottom lines and showed encouraging success in bundling policies.
In so doing, the next-gen insurer nearly reversed the almost 13% decline its shares suffered during the regular trading day. Yet the stock still declined, if only marginally, in trading after the close. Let's see if we can tease out why.
Lemonade's revenue for the quarter totaled $44.3 million, which was a robust 89% higher than in the same period a year ago. That was due largely to the tally for in-force premiums (i.e., premiums from active policies), which enjoyed a 66% increase to $419 million.
Source Fool.com
