Lemonade has rolled out its pet insurance product in Kentucky, extending Lemonade Pet coverage to 44 states plus Washington, D.C. The company's most followed valuation narrative pegs fair value at $48.95 a share against a recent close of $45.28, implying the stock is about 7.5% undervalued. In-force premium grew 32.4% to $1.43 billion, while revenue grew 79% as ceded premiums fell roughly 49% and the company retained a larger share of its own risk. The stock trades at a price-to-sales ratio of 3.6x, roughly double peers at 1.8x, and the narrative could crack if the gross loss ratio jumps back toward 70% or if in-force premium growth slows sharply.
Lemonade IncLemonade rolled out its pet insurance product in Kentucky, extending coverage to 44 states plus D.C., expanding its addressable customer base.
