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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2022
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:                  
Net premiums earned $ 64.3 $ 68.6 $ 74.7 $ 78.3     $ 285.9 $ 310.3 $ 322.5
Net investment income 4.0 0.9 0.7 0.6     6.2 5.0 5.4
Gain (Loss) on Investments (0.6) 0.0 (0.1) 1.2     0.5 2.4 0.3
Fee income 3.4 3.8 4.4 4.9     16.5 20.9 17.4
Other Income 0.2 0.4 0.7 0.4     1.7 6.8 1.2
Total revenues 71.3 73.7 80.4 85.4     310.8 345.4 346.8
Operating expenses:                  
Loss and loss adjustment expenses 77.7 80.9 95.7 96.7     351.0 392.3 362.8
Sales and marketing 3.2 8.1 21.4 15.3 $ 36.7 $ 44.8 48.0 270.2 139.7
Other insurance (benefit) expense (2.3) 1.1 (7.8) 1.0     (8.0) 5.0 (1.8)
Technology and development 9.4 14.3 17.9 13.9     55.5 65.5 52.9
General and administrative 31.0 26.4 39.5 30.5 70.0 96.4 127.4 97.6 78.5
Total operating expenses 119.0 130.8 166.7 157.4 324.1 454.9 573.9 830.6 632.1
Operating loss (47.7) (57.1) (86.3) (72.0) (158.3) (215.4) (263.1) (485.2) (285.3)
Interest expense (10.6) (9.3) (9.2) (5.5)     (34.6) (20.0) (77.7)
Loss on early extinguishment of debt             0.0 (15.9) 0.0
Loss before income tax expense (58.3) (66.4) (95.5) (77.5) (173.0) (239.4) (297.7) (521.1) (363.0)
Income tax expense 0.0 0.0 0.0 0.0     0.0 0.0 0.0
Net loss (58.3) (66.4) (95.5) (77.5) (173.0) (239.4) (297.7) (521.1) (363.0)
Other comprehensive (loss) income:                  
Changes in net unrealized (losses) gains on investments 1.1 (2.3) (1.3) (3.7)     (6.2) (5.2) 5.0
Comprehensive loss $ (57.2) $ (68.7) $ (96.8) $ (81.2) $ (178.0) $ (246.7) $ (303.9) $ (526.3) $ (358.0)
Loss per common share: basic (both Class A and B) (in dollars per share) $ (4.13) $ (4.71) $ (6.77) $ (5.54) $ (12.36) $ (17.10) $ (21.11) [1] $ (37.76) [1] $ (86.43) [1]
Loss per common share: diluted (both Class A and B) (in dollars per share) $ (4.13) $ (4.71) $ (6.77) $ (5.54) $ (12.36) $ (17.10) $ (21.11) [1] $ (37.76) [1] $ (86.43) [1]
Weighted-average common shares outstanding: basic (both Class A and B) (in shares) 14.1 14.1 14.1 14.0 14.0 14.0 14.1 [1] 13.8 [1] 4.2 [1]
Weighted-average common shares outstanding: diluted (both Class A and B) (in shares) 14.1 14.1 14.1 14.0 14.0 14.0 14.1 [1] 13.8 [1] 4.2 [1]
[1] Reflects the 1-for-18 reverse stock split that became effective August 12, 2022. Refer to Note 2, “Basis of Presentation and Summary of Significant Accounting Policies.”