Why Lemonade's $49 Million Net Loss in Q1 2021 Isn't That Big a Deal

High-growth stocks are cooling off after many of them ran up double- and triple-digit percentages since the start of the pandemic, and tech-enhanced insurance outfit Lemonade (NYSE: LMND) is among them. The real attention-grabbing line item in Q1 for Lemonade was its $49 million net loss (or adjusted EBITDA loss of $41.3 million), chalked up mostly to the winter storm that ravaged Texas earlier this year. Lemonade said that it received "a year's worth of claims" in just the first few days of the Texas freeze.