Lemonade, Inc. held its Investor Day in New York City on November 19, 2024, where it unveiled an ambitious strategic vision focused on achieving "Next 10x" growth, aiming to expand its business from $1 billion to $10 billion in premiums. The company emphasized its AI-driven approach as the core enabler for this expansion.
Key financial targets were presented, including the expectation to reach adjusted free cash flow profitability for the full year 2024, a year ahead of previous expectations. Lemonade also set a goal to achieve adjusted EBITDA profitability by the end of 2026, with 2027 projected as the first full year of positive adjusted EBITDA.
The Investor Day highlighted the crucial role of Lemonade Car in future growth and showcased product and user experience demonstrations. This strategic roadmap, which includes a path to becoming net profit positive exiting 2027, represents a significantly more optimistic outlook than prior consensus estimates.
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