Lemonade, Inc. (LMND) saw its stock price surge 5.63% during pre-market trading on Wednesday, following the release of its first-quarter 2026 financial results.

The insurtech firm reported quarterly revenue of $258 million, surpassing analyst estimates of $251.5 million and representing a 71% increase from the same period last year. The company's net loss narrowed significantly to $36 million, a 43% improvement year-over-year, while its adjusted EBITDA loss of $17 million also beat expectations.

Lemonade attributed the strong performance to higher gross earned premium, increased premium retention, and improved underwriting results. The company also raised its full-year 2026 revenue guidance to a range of $1.197 billion to $1.203 billion and reiterated its expectation to achieve positive adjusted EBITDA in the fourth quarter of 2026.