NEW YORK (AP) — NEW YORK (AP) — Lemonade, Inc. (LMND) on Tuesday reported a loss of $47.3 million in its first quarter.
The New York-based company said it had a loss of 67 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.
The company posted revenue of $119.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $112.8 million.
For the current quarter ending in June, Lemonade said it expects revenue in the range of $118 million to $120 million.
The company expects full-year revenue in the range of $511 million to $515 million.
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