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LMNDLemonade, Inc.
$58.84$4.5B
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LMND logoLemonade, Inc.(LMND)Earnings, Financials & Key Ratios

LMND•NYSE•Insurance & Managed Care
Price updated Jun 19, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustryPersonal auto and homeowners insurers
AboutLemonade, Inc. provides various insurance products in the United States and Europe. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property. The company also offers renters, homeowners, pet, car, and life insurance products, as well as landlord insurance policies. In addition, it operates as an agent for other insurance companies. The company was formerly known as Lemonade Group, Inc. and changed its name to Lemonade, Inc. Lemonade, Inc. was incorporated in 2015 and is headquartered in New York, New York.Show more
  • Revenue$738M+40.2%
  • Combined Ratio121.81%-12.2%
  • Net Income-$166M+18.2%
  • Return on Equity-29.37%+5.4%
  • Medical Cost Ratio59.72%-11.1%
  • Operating Margin-21.81%+43.7%
  • Net Margin-22.43%+41.6%
  • ROA-8.77%+24.5%
  • Equity / Assets27.71%-13.7%

LMND Key Insights

Lemonade, Inc. (LMND) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Low loss ratio of 59.7%

✗Weaknesses

  • ✗Unprofitable underwriting: 121.8% combined ratio
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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LMND Price & Volume

Lemonade, Inc. (LMND) stock price & volume — 10-year historical chart

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LMND Growth Metrics

Lemonade, Inc. (LMND) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years50.87%
3 Years42.19%
TTM46.99%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM36.08%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM37.17%

Return on Capital

10 Years-36.32%
5 Years-28.86%
3 Years-26.19%
Last Year-22.72%

LMND Recent Earnings

Lemonade, Inc. (LMND) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 29, 2026
Metric
Actual
Est
EPS
$0.47+19.0%
$0.58
Rev
$258M+2.6%
$252M
Q1 2026
Feb 19, 2026
Metric
Actual
Est
EPS
$0.29+29.3%
$0.41
Rev
$228M+4.7%
$218M
Q4 2025
Nov 5, 2025
Metric
Actual
Est
EPS
$0.51+29.2%
$0.72
Rev
$195M-10.8%
$218M
Q3 2025
Aug 5, 2025
Metric
Actual
Est
EPS
$0.60+25.9%
$0.81
Rev
$164M-10.8%
$184M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 29, 2026
$0.47vs $0.58+19.0%
$258Mvs $252M+2.6%
Q1 2026Feb 19, 2026
$0.29vs $0.41+29.3%
$228Mvs $218M+4.7%
Q4 2025Nov 5, 2025
$0.51vs $0.72+29.2%
$195Mvs $218M-10.8%
Q3 2025Aug 5, 2025
$0.60vs $0.81+25.9%
$164Mvs $184M-10.8%
Based on last 12 quarters of dataView full earnings history →

LMND Peer Comparison

Lemonade, Inc. (LMND) competitors in Personal auto and homeowners insurers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ROOT logoROOTRoot, Inc.Direct Competitor728.69M51.9923.2128.95%3.7%15.88%0.51
HIPO logoHIPOHippo Holdings Inc.Direct Competitor675.77M25.9611.6925.93%23.45%27.43%0.12
GO logoGOGrocery Outlet Holding Corp.Direct Competitor916.02M9.26-4.037.26%-8.08%-36.58%1.84
OSCR logoOSCROscar Health, Inc.Direct Competitor7.36B28.40-16.8027.5%-0.3%-3.26%0.44
PGR logoPGRThe Progressive CorporationProduct Competitor120.07B204.8714.2321.36%12.58%30.23%0.27
ALL logoALLThe Allstate CorporationProduct Competitor56.93B221.175.794.64%18.09%42.74%0.24
TRV logoTRVThe Travelers Companies, Inc.Product Competitor66.56B307.8111.225.17%12.88%19.12%0.28
HIG logoHIGThe Hartford Financial Services Group, Inc.Product Competitor35.27B128.259.637.1%14.13%22.01%0.23

Compare LMND vs Peers

Lemonade, Inc. (LMND) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ROOT

Most directly comparable listed peer for LMND.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare LMND against a more recognizable public peer.

Peer Set

Compare Top 5

vs ROOT, HIPO, GO, OSCR

LMND Income Statement

Lemonade, Inc. (LMND) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue
2.4M22.5M67.3M94.4M128.4M256.7M429.8M526.5M737.9M821.1M
Revenue Growth %
-837.5%199.11%40.27%36.02%99.92%67.43%22.5%40.15%46.99%
Medical Costs & Claims
019.4M55.4M74M105.5M228.3M339.6M353.8M440.7M430.4M
Medical Cost Ratio %
0%86.22%82.32%78.39%82.17%88.94%79.01%67.2%59.72%52.42%
Gross Profit
2.4M▲ 0%
3.1M▲ 29.2%
11.9M▲ 283.9%
20.4M▲ 71.4%
22.9M▲ 12.3%
28.4M▲ 24.0%
90.2M▲ 217.6%
172.7M▲ 91.5%
297.2M▲ 72.1%
390.7M▲ 0%
Gross Margin %
100%13.78%17.68%21.61%17.83%11.06%20.99%32.8%40.28%47.58%
Gross Profit Growth %
-29.17%283.87%71.43%12.25%24.02%217.61%91.46%72.09%-
Operating Expenses
28.7M55.7M119.8M141.2M256.5M323.2M320M376.6M458.1M524.8M
OpEx / Revenue %
1195.83%247.56%178.01%149.58%199.77%125.91%74.45%71.53%62.08%63.91%
Depreciation & Amortization
28M100K600K1.7M3.7M12.2M20M20M15.2M13.4M
Combined Ratio %
1195.83%333.78%260.33%227.97%281.93%214.84%153.47%138.73%121.81%116.33%
Operating Income
-26.3M▲ 0%
-52.6M▼ 100.0%
-107.9M▼ 105.1%
-120.8M▼ 12.0%
-233.6M▼ 93.4%
-294.8M▼ 26.2%
-229.8M▲ 22.0%
-203.9M▲ 11.3%
-160.9M▲ 21.1%
-134.1M▲ 0%
Operating Margin %
-1095.83%-233.78%-160.33%-127.97%-181.93%-114.84%-53.47%-38.73%-21.81%-16.33%
Operating Income Growth %
--100%-105.13%-11.96%-93.38%-26.2%22.05%11.27%21.09%-
EBITDA
1.7M-52.5M-107.3M-119.1M-229.9M-282.6M-209.8M-183.9M-145.7M-120.7M
EBITDA Margin %
70.83%-233.33%-159.44%-126.17%-179.05%-110.09%-48.81%-34.93%-19.75%-14.7%
Interest Expense
0000000000
Non-Operating Income
0000000000
Pretax Income
-28M▲ 0%
-52.6M▼ 87.9%
-107.9M▼ 105.1%
-120.8M▼ 12.0%
-233.6M▼ 93.4%
-294.8M▼ 26.2%
-229.8M▲ 22.0%
-203.9M▲ 11.3%
-160.9M▲ 21.1%
-134.1M▲ 0%
Pretax Margin %
-1166.67%-233.78%-160.33%-127.97%-181.93%-114.84%-53.47%-38.73%-21.81%-16.33%
Income Tax
100K300K600K1.5M7.7M3M7.1M-1.7M4.6M4.8M
Effective Tax Rate %
-0.36%-0.57%-0.56%-1.24%-3.3%-1.02%-3.09%0.83%-2.86%-3.58%
Net Income
-28.1M▲ 0%
-52.9M▼ 88.3%
-108.5M▼ 105.1%
-122.3M▼ 12.7%
-241.3M▼ 97.3%
-297.8M▼ 23.4%
-236.9M▲ 20.4%
-202.2M▲ 14.6%
-165.5M▲ 18.2%
-138.9M▲ 0%
Net Margin %
-1170.83%-235.11%-161.22%-129.56%-187.93%-116.01%-55.12%-38.4%-22.43%-16.92%
Net Income Growth %
--88.26%-105.1%-12.72%-97.3%-23.41%20.45%14.65%18.15%36.08%
EPS (Diluted)
-2.58▲ 0%
-1.21▲ 53.1%
-2.49▼ 105.8%
-2.21▲ 11.2%
-3.94▼ 78.3%
-4.59▼ 16.5%
-3.40▲ 25.9%
-2.85▲ 16.2%
-2.30▲ 19.3%
-1.82▲ 0%
EPS Growth %
-53.1%-105.79%11.24%-78.28%-16.5%25.93%16.18%19.3%37.17%
EPS (Basic)
-2.58-1.21-2.49-2.21-3.94-4.59-3.40-2.85-2.30-
Diluted Shares Outstanding
10.89M43.61M43.61M55.32M61.22M64.92M69.66M71.02M71.82M76.31M

LMND Balance Sheet

Lemonade, Inc. (LMND) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets
40.5M153.8M414.3M828.7M1.51B1.69B1.63B1.85B1.93B1.69B
Asset Growth %
-279.75%169.38%100.02%82.27%11.93%-3.4%13.21%4.14%13.22%
Total Investment Assets
13.1M9.4M61M7.5M805.2M753.8M678.7M641.6M729.4M4M
Long-Term Investments
09.2M60.6M6.6M3.4M3.7M5.5M6.7M6.5M1.58B
Short-Term Investments
13.1M9.2M60.6M6.6M801.8M750.1M673.2M634.9M722.9M0
Total Current Assets
35.9M149.1M001.46B1.58B1.54B1.76B1.84B835.6M
Cash & Equivalents
16.9M102.2M270M570.8M270.6M282.5M264.5M376M385M386.5M
Receivables
037.7M74.7M140.5M231.3M362.4M383M479.2M567.9M1.77B
Other Current Assets
35.9M0-407.2M-816.7M04M7M9.7M11.8M0
Goodwill & Intangibles
100K600K600K600K6.8M58.4M50.7M44.8M39.2M121.7M
Goodwill
0000019M19M19M19M19M
Intangible Assets
100K600K006.8M39.4M31.7M25.8M20.2M8.1M
PP&E (Net)
300K1M3.1M5.7M33.6M46M34.8M31.3M35.6M16.7M
Other Assets
4.2M-10.2M-64.3M-12.9M2.8M5.1M6.3M4M1.1M57.8M
Total Liabilities
8.5M232.9M596.8M287.7M522.3M823.9M924.4M1.26B1.39B1.17B
Total Debt
000022.3M35.2M43.1M107.2M182.1M179.6M
Net Debt
-16.9M-102.2M-270M-570.8M-248.3M-247.3M-221.4M-268.8M-202.9M-206.9M
Long-Term Debt
00000014.9M83.4M158.1M0
Short-Term Debt
000000000179.6M
Total Current Liabilities
2.5M3.8M00500M788.7M881.3M1.15B1.21B0
Accounts Payable
2.1M3.8M4.6M14.4M19.7M19.5M24.6M31.1M26.9M0
Deferred Revenue
0000209.7M290.1M357.1M458.1M580.8M490.3M
Other Current Liabilities
0-5.3M-19.4M-29.4M237.5M432.2M432.5M583.3M510.8M-669.9M
Deferred Taxes
0000000000
Other Liabilities
6M26.3M0-22.4M-36.5M-39.7M-41.4M-65.6M-38.2M1.14B
Total Equity
32M▲ 0%
-79.1M▼ 347.2%
-182.5M▼ 130.7%
541M▲ 396.4%
988.2M▲ 82.7%
866.8M▼ 12.3%
708.9M▼ 18.2%
593.4M▼ 16.3%
533.6M▼ 10.1%
518M▲ 0%
Equity Growth %
--347.19%-130.72%396.44%82.66%-12.29%-18.22%-16.29%-10.08%-45.09%
Shareholders Equity
32M-79.1M-182.5M541M988.2M866.8M708.9M593.4M533.6M518M
Minority Interest
0000000000
Retained Earnings
-36.9M-89.8M-198.3M-320.6M-561.9M-859.7M-1.1B-1.3B-1.46B-1.5B
Common Stock
0000000000
Accumulated OCI
00100K1.8M-3.4M-27.6M-9M-6.1M6.4M700K
Return on Equity (ROE)
-87.81%---68.23%-31.56%-32.11%-30.07%-31.05%-29.37%-26.52%
Return on Assets (ROA)
-69.38%-54.45%-38.2%-19.68%-20.63%-18.61%-14.25%-11.61%-8.77%-7.44%
Equity / Assets
79.01%-51.43%-44.05%65.28%65.42%51.27%43.4%32.09%27.71%30.68%
Debt / Equity
----0.02x0.04x0.06x0.18x0.34x0.35x
Book Value per Share
2.94-1.81-4.189.7816.1413.3510.188.367.436.79
Tangible BV per Share
2.93-1.83-4.189.7816.0312.459.457.726.886.43

LMND Cash Flow Statement

Lemonade, Inc. (LMND) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-19.1M-40.8M-78.1M-91.7M-144.6M-163M-119.1M-11.4M-16.5M30.1M
Operating CF Growth %
--113.61%-91.42%-17.41%-57.69%-12.72%26.93%90.43%-44.74%223.34%
Operating CF / Revenue %
-795.83%-181.33%-116.05%-97.14%-112.62%-63.5%-27.71%-2.17%-2.24%3.67%
Net Income
-28.1M-52.9M-108.5M-122.3M-241.3M-297.8M-236.9M-202.2M-165.5M-138.9M
Depreciation & Amortization
0100K600K1.7M3.7M12.2M20M20M15.2M22.3M
Stock-Based Compensation
8.4M2.1M4.3M10.6M44.1M59.3M59.9M64.5M051M
Deferred Taxes
000-300K-4.2M00000
Other Non-Cash Items
8.4M200K400K14.4M6.2M15.4M9.2M5.2M75.3M27.9M
Working Capital Changes
600K9.7M25.1M4.2M46.9M47.9M28.7M101.1M58.5M67.8M
Cash from Investing
-12.7M6.4M-54M50.1M-804.8M181.1M88.7M40.6M-89.1M-83.4M
Capital Expenditures
-300K-700K-2.7M-4.4M-9.4M-10.1M-9.2M-9.4M-9.4M-10.6M
Acquisitions
000-54.5M795.4M98.8M0000
Purchase of Investments
-28M-13.8M-72.7M-17.8M-842.8M-270.1M-395.2M-363.8M-504.4M-738.2M
Sale/Maturity of Investments
15.6M20.9M22M72.3M47.4M362.5M493.1M413.8M424.7M636.8M
Other Investing
-12.4M7.1M-600K54.5M-795.4M000028.6M
Cash from Financing
800K119.9M300.1M341.1M649.6M3.6M15.4M87.7M106.6M112.8M
Dividends Paid
0000000000
Share Repurchases
0000000000
Stock Issued
800K119.9M0339.3M640.3M0019.3M31.9M26.6M
Debt Issuance (Net)
0000001000K1000K1000K4M
Other Financing
800K100K700K1.8M9.3M3.6M500K008.5M
Net Change in Cash
-31M▲ 0%
85.5M▲ 375.8%
167.9M▲ 96.4%
301.1M▲ 79.3%
-300.8M▼ 199.9%
15.9M▲ 105.3%
-15M▼ 194.3%
114.2M▲ 861.3%
11.1M▼ 90.3%
66.8M▲ 0%
Exchange Rate Effect
00-100K1.6M-1M-5.8M0-2.7M10.1M7.3M
Cash at Beginning
47.9M16.9M102.4M270.3M571.4M270.6M286.5M271.5M385.7M396.8M
Cash at End
16.9M102.4M270.3M571.4M270.6M286.5M271.5M385.7M396.8M386.5M
Free Cash Flow
-19.4M▲ 0%
-41.5M▼ 113.9%
-81.4M▼ 96.1%
-96.1M▼ 18.1%
-154M▼ 60.2%
-173.1M▼ 12.4%
-128.3M▲ 25.9%
-20.8M▲ 83.8%
-25.9M▼ 24.5%
19.5M▲ 0%
FCF Growth %
--113.92%-96.14%-18.06%-60.25%-12.4%25.88%83.79%-24.52%151.32%
FCF Margin %
-808.33%-184.44%-120.95%-101.8%-119.94%-67.43%-29.85%-3.95%-3.51%2.37%
FCF per Share
-1.78-0.95-1.87-1.74-2.52-2.67-1.84-0.29-0.360.26

LMND Key Ratios

Lemonade, Inc. (LMND) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025TTM
Combined Ratio
333.78%260.33%227.97%281.93%214.84%153.47%138.73%121.81%116.33%
Medical Cost Ratio
86.22%82.32%78.39%82.17%88.94%79.01%67.2%59.72%52.42%
Return on Equity (ROE)
---68.23%-31.56%-32.11%-30.07%-31.05%-29.37%-26.52%
Return on Assets (ROA)
-54.45%-38.2%-19.68%-20.63%-18.61%-14.25%-11.61%-8.77%-7.44%
Equity / Assets
-51.43%-44.05%65.28%65.42%51.27%43.4%32.09%27.71%30.68%
Book Value / Share
-1.81-4.189.7816.1413.3510.188.367.436.79
Debt / Equity
---0.02x0.04x0.06x0.18x0.34x0.35x
Revenue Growth
837.5%199.11%40.27%36.02%99.92%67.43%22.5%40.15%46.99%
Related:LMND Dividend History·LMND Revenue History·LMND Price History·LMND P/E History·LMND Financial Ratios·LMND Institutional Holders

LMND SEC Filings & Documents

Lemonade, Inc. (LMND) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Feb 19, 2026·SEC

Material company update

Jan 27, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 30, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 5, 2025·SEC

LMND Frequently Asked Questions

Lemonade, Inc. (LMND) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Lemonade, Inc. (LMND) grew revenue by 40.2% over the past year. This is strong growth.

Lemonade, Inc. (LMND) reported a net loss of $138.9M for fiscal year 2025.

Dividend & Returns

Lemonade, Inc. (LMND) has a return on equity (ROE) of -29.4%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Lemonade, Inc. (LMND) has a combined ratio of 121.8%. A ratio above 100% means claims and expenses exceed premiums.

What if you invested $1,000 in LMND back in 2017?

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