Lemonade (LMND) reported a Q1 net loss Wednesday of $0.47 per diluted share, narrowing from a loss of $0.86 a year earlier.

Four analysts polled by FactSet expected a loss of $0.57.

Revenue for the quarter ended March 31 was $258 million, up from $151.2 million a year earlier.

Analysts surveyed by FactSet expected $251.5 million.

The insurance provider said it expects Q2 revenue of $287 million to $290 million. Analysts polled by FactSet expect $288.1 million.

Revenue for 2026 is projected to be about $1.197 billion to $1.203 billion. Analysts surveyed by FactSet expect $1.2 billion.

Shares of the company rose 5% in Wednesday premarket activity.