Lemonade (NYSE: LMND) shares dropped around 16% after-hours following the company’s reported Q4 results, with EPS of ($1.14) coming in worse than the consensus estimate of ($1.13). Revenue grew 100% year-over-year to $41 million, compared to the consensus estimate of $39.39 million.

The aggregate annualized premium for customers grew 78% year-over-year to $380 million, primarily due to a 43% increase in the number of customers (1,427,481) and a 25% increase in premium per customer ($266).

The company expects Q1/22 revenue in the range of $41-43 million, which is below the consensus estimate of $44 million. For the full 2022-year, the company expects revenue in the range of $202-205 million, compared to the consensus of $219 million.