LMND — what changed in the latest 10-Q
A section-by-section comparison of LMND's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-04 vs the prior 10-Q · 2026-04-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +37 | −19 | ~20 | 71 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 3 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 2 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-04
On June 22, 2026, we entered into a New Business Financing Agreement (the “Financing Agreement”) with Hannover Re (Ireland) DAC ("Hannover Re") under which Hannover Re will provide up to $250 million of outstanding capital related to the financing of our sales and marketing growth efforts. This Fina…
Under the Agreement, subject to certain terms and conditions, at the start of each month, Hannover Re shall provide financing of up to 80% of our growth spend but not to exceed $20 million per reference cohort. We will repay each amount financed based on a specific percentage of premiums collected f…
Beginning January 1, 2027, financing of our sales and marketing growth efforts shall solely be under the Financing Agreement with Hannover Re. Separate reference premium from customer cohorts shall be attributed to financing with Hannover Re. Reference premium from customer cohorts under the Amended…
Net earned premium increased $139.5 million, or 124%, to $252.0 million for the three months ended June 30, 2026 compared to the three months ended June 30, 2025, primarily due to the earning of increased gross written premium and the impact of the reduced cession rate from the Company's reinsurance…
Gross written premium increased $95.5 million, or 34%, to $380.0 million for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. The increase was primarily due to a 23% increase in customers year over year driven by the success of our digital advertising campaigns …
Text removed vs the prior filing · source: 10-Q · 2026-04-30
Comparison of the Three Months Ended March 31, 2026 and 2025
Net earned premium increased $108.3 million, or 104%, to $212.6 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to the earning of increased gross written premium and the impact of the Company's reinsurance program as discussed in mor…
Gross written premium increased $89.7 million, or 35%, to $343.9 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase was primarily due to a 23% increase in net added customers year over year driven by the success of our digital advertisin…
Ceded written premium decreased $68.9 million, or 50%, to $69.9 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to impact of the reduced cession rate from Company's reinsurance program. See "Reinsurance" above for further information…
Net written premium increased $158.6 million, or 137%, to $274.0 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice