In this video, I will go over Lemonade's (NYSE: LMND) Q1 earnings report and talk about why this was actually a promising report, seeing as it raised guidance even after the whole Texas freeze event. Earnings highlights As reported, IFP growth accelerated to 89% YoY with IFP of $252 million, and about 1.1 million customers. Premium per customer increased 25% YoY to $229. Gross Earned Premium increased 84% YoY to $56 million. Car and life Investors will have to wait until we get to see the effects of Term Life and Car Insurance. Life is still in its early days and Lemonade is still testing and iterating on the product experience to ensure it is both fantastic and delightful. As for the much anticipated Car Insurance, the company has not yet announced a launch date, and guidance currently contemplates no material contribution from car insurance. High loss ratio (Texas freeze) Loss ratio increased 68% to 121% because of the Texas freeze. "We received about a year's worth of claims in its first few days, providing an extreme stress test for both our operations and financial model." Yet EBITDA guidance for the year remains substantially in line with analyst consensus prior to the storm. For the full insights please watch the video below. *Stock prices used were the closing prices of May 11, 2021. The video was published on May 12, 2021. Find out why Lemonade, Inc. is one of the 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* Tom and David just revealed their ten top stock picks for investors to buy right now. Lemonade, Inc. is on the list -- but there are nine others you may be overlooking. Click here to get access to the full list! *Stock Advisor returns as of May 11, 2021 Neil Rozenbaum owns shares of Lemonade, Inc. The Motley Fool owns shares of and recommends Lemonade, Inc. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.Source