Lemonade Inc. reported fiscal second-quarter results that beat Wall Street expectations and sent the New York-listed shares up about 30% in early trading on Tuesday. Revenue climbed to $164.1 million, roughly 35% higher than a year earlier and ahead of the $161.4 million consensus, while the net loss narrowed to $43.9 million, or $0.60 a share, compared with analyst forecasts of a $0.80 loss. The insurtech company also generated $25 million in adjusted free cash flow for the period. Operating metrics strengthened across the board. In-force premium reached $1.08 billion, a 29% annual increase, as customer numbers grew to about 2.6 million. The gross loss ratio improved 12 points to 67%, helping gross profit more than double to $64.3 million and pushing gross margin up to 39%. Chief Executive Daniel Schreiber said performance was strong "across all key metrics," citing continued momentum in car insurance and European markets.