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: Lemonade stock dials back gains on earnings, outlook

Economy, Finance

Lemonade Inc. LMND shares declined in the extended session Monday after the mobile-based insurance company beat on results but provided an underwhelming outlook for the current quarter. Lemonade shares declined 4.5% after hours, following a 5.3% rise in the regular session to close at $132.43. The company reported a fourth-quarter loss of $33.9 million, or 60 cents a share, compared with a loss of $32.7 million, or $2.90 a share, in the year-ago period. Revenue declined to $20.5 million from $23.5 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 64 cents a share on revenue of $19.2 million, based on the company’s forecast of $18 million to $19 million. Lemonade expects revenue of $21.5 million to $22.5 million for the first quarter, and $114 million to $117 million for the year. Analysts had forecast revenue of $22.1 million for the first quarter, and $111.6 million for the year. Lemonade shares, which debuted 139% above their initial pricing on their first day of trade in July, are 350% above their $29 original pricing.

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