Lemonade – Has It Lost Its Fizz?
Lemonade results just out. Key results (US$):
Customer base to just over 1 million
Premium in force $213m
Renters premium $143m
Home/pet premium $70m
Q4 CAC doubled from the previous quarter to $385 per customer
Losses in real dollars - $122m in 2020; forecast loss of ~$170m 2021.
Are these good results? Market cap at COB 5 March $6.83bn (AUD). By comparison at COB 5 March IAG was $11.88bn, Suncorp $12.95bn, QBE $13.91bn.
Source: Coverager
