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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue        
Net earned premium $ 31.2 $ 16.3 $ 58.6 $ 30.1
Ceding commission income 15.5 10.6 29.5 19.6
Net investment income 1.2 0.2 2.1 0.4
Commission and other income 2.1 1.1 4.1 1.6
Total revenue 50.0 28.2 94.3 51.7
Expense        
Loss and loss adjustment expense, net 28.1 13.0 52.5 29.5
Other insurance expense 9.7 5.2 18.8 10.0
Sales and marketing 37.0 33.1 75.3 62.2
Technology development 17.8 14.0 34.7 21.1
General and administrative 22.4 15.8 50.6 29.9
Total expense 115.0 81.1 231.9 152.7
Loss before income taxes (65.0) (52.9) (137.6) (101.0)
Income tax expense 2.9 2.7 5.1 3.6
Net loss (67.9) (55.6) (142.7) (104.6)
Other comprehensive loss, net of tax        
Unrealized loss on investments in fixed maturities (4.5) (0.2) (18.8) (0.1)
Foreign currency translation adjustment (5.5) 0.3 (6.6) 1.0
Comprehensive loss $ (77.9) $ (55.5) $ (168.1) $ (103.7)
Per share data:        
Net loss per share attributable to common stockholders—basic (usd per share) $ (1.10) $ (0.90) $ (2.31) $ (1.72)
Net loss per share attributable to common stockholders—diluted (usd per share) $ (1.10) $ (0.90) $ (2.31) $ (1.72)
Weighted average common shares outstanding—basic (in shares) 61,816,225 61,444,958 61,757,722 60,643,764
Weighted average common shares outstanding—diluted (in shares) 61,816,225 61,444,958 61,757,722 60,643,764