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Lemonade Narrows Q1 Loss Amid Lower Revenue, Sets Guidance

05/11/2021 13:28

05:17 PM EDT, 05/11/2021 (MT Newswires) -- Lemonade (LMND) on Tuesday narrowed its net loss to $0.81 per share in Q1 from $3.16 per share a year earlier, but still wider than analyst estimates of $0.78 loss per share in a Capital IQ poll.

Revenue fell to $23.5 million from $26.2 million a year ago, but higher than the $21.88 million estimate.

For Q2, the company expects revenue of $26 million to $27 million and an adjusted Ebitda loss of $43 million to $40 million, against the Street estimate of $26.05 million for revenue.

For the full year 2021, it projects revenue of $117 million to $120 million and an adjusted Ebitda loss of $173 million to $163 million, against market consensus of $115.33 million for revenue.

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