Lemonade, Inc.'s (LMND) CEO Daniel Schreiber on Q1 2022 Results - Earnings Call Transcript

Lemonade, Inc. (NYSE:LMND) Q1 2022 Earnings Conference Call May 10, 2022 8:00 AM ET

Company Participants

Yael Wissner-Levy - Head, Content and Communications
Daniel Schreiber - Co-Founder, Chairman & Co-CEO
Shai Wininger - Co-Founder, President, Co-CEO, CTO, Secretary, Treasurer & Director
Timothy Bixby - CFO

Conference Call Participants

Michael Phillips - Morgan Stanley
Matt Carletti - JMP Securities
Yaron Kinar - Jefferies
Chad Allen - Oppenheimer
Andrew Kligerman - Crédit Suisse

Operator

Good morning, and welcome to the Lemonade, Inc. First Quarter 2022 Earnings Conference Call. [Operator Instructions]. Please note this event is being recorded.

I would now like to turn the conference over to Yael Wissner-Levy, VP, Communications. Please go ahead.

Yael Wissner-Levy

Good morning, and welcome to Lemonade's First Quarter 2022 Earnings Call. My name is Yael Wissner-Levy, and I'm the VP of Communications at Lemonade. Joining me today to discuss our results are Daniel Schreiber, Co-CEO and Co-Founder; Shai Wininger, Co-CEO and Co-Founder; and Tim Bixby, Chief Financial Officer. A letter to shareholders covering the company's first quarter 2022 financial results is available on our Investor Relations website, investor.lemonade.com.

Before we begin, I would like to remind you that management's remarks on this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of our Form 10-K filed with the SEC on March 1, 2022, and our other filings with the SEC. Any forward-looking statements made on this call represent our views only as of today, and we undertake no obligation to update them.

We will be referring to certain non-GAAP financial measures on today's call, such as adjusted EBITDA and adjusted gross profit, which