Lemonade Inc. Surges 96.7% YTD: How to Play the Stock

Lemonade Inc. (LMND) has surged 96.7% year-to-date, outperforming the industry, sector, and S&P 500 composite. Its expansion into auto, pet, and life coverage has broadened its revenue base, while a strong retention and subscription-based model supports recurring revenue growth. The company's third-quarter in-force premium grew to $1.16 billion, with estimated year-end IFP between $1.218 billion and $1.223 billion and FY 2026 IFP growth of 30%. Despite not being profitable, Lemonade has improved its loss adjustment expense ratio and is driving growth through geographic expansion.