8-K Announcements
6Apr 29, 2026·SEC
Feb 19, 2026·SEC
Jan 27, 2026·SEC
Lemonade, Inc. (LMND) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Lemonade, Inc. (LMND) stock price & volume — 10-year historical chart
Lemonade, Inc. (LMND) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Lemonade, Inc. (LMND) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $0.47vs $0.58+19.0% | $258Mvs $252M+2.6% |
| Q1 2026 | Feb 19, 2026 | $0.29vs $0.41+29.3% | $228Mvs $218M+4.7% |
| Q4 2025 | Nov 5, 2025 | $0.51vs $0.72+29.2% | $195Mvs $218M-10.8% |
| Q3 2025 | Aug 5, 2025 | $0.60vs $0.81+25.9% | $164Mvs $184M-10.8% |
Lemonade, Inc. (LMND) competitors in Personal auto and homeowners insurers — business model, growth, and fundamentals comparison
Lemonade, Inc. (LMND) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Lemonade, Inc. (LMND) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.4M | 22.5M | 67.3M | 94.4M | 128.4M | 256.7M | 429.8M | 526.5M | 737.9M | 821.1M |
| Revenue Growth % | - | 837.5% | 199.11% | 40.27% | 36.02% | 99.92% | 67.43% | 22.5% | 40.15% | 46.99% |
| Medical Costs & Claims | 0 | 19.4M | 55.4M | 74M | 105.5M | 228.3M | 339.6M | 353.8M | 440.7M | 430.4M |
| 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 | 28.7M | 55.7M | 119.8M | 141.2M | 256.5M | 323.2M | 320M | 376.6M | 458.1M | 524.8M |
| OpEx / Revenue % | 1195.83% | 247.56% | 178.01% | 149.58% | 199.77% | 125.91% | 74.45% | 71.53% | 62.08% | 63.91% |
| Depreciation & Amortization | 28M | 100K | 600K | 1.7M | 3.7M | 12.2M | 20M | 20M | 15.2M | 13.4M |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Non-Operating Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 | 100K | 300K | 600K | 1.5M | 7.7M | 3M | 7.1M | -1.7M | 4.6M | 4.8M |
| 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 | 10.89M | 43.61M | 43.61M | 55.32M | 61.22M | 64.92M | 69.66M | 71.02M | 71.82M | 76.31M |
Lemonade, Inc. (LMND) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 40.5M | 153.8M | 414.3M | 828.7M | 1.51B | 1.69B | 1.63B | 1.85B | 1.93B | 1.69B |
| Asset Growth % | - | 279.75% | 169.38% | 100.02% | 82.27% | 11.93% | -3.4% | 13.21% | 4.14% | 13.22% |
| Total Investment Assets | 13.1M | 9.4M | 61M | 7.5M | 805.2M | 753.8M | 678.7M | 641.6M | 729.4M | 4M |
| Long-Term Investments | 0 | 9.2M | 60.6M | 6.6M | 3.4M | 3.7M | 5.5M | 6.7M | 6.5M | 1.58B |
| Short-Term Investments | 13.1M | 9.2M | 60.6M | 6.6M | 801.8M | 750.1M | 673.2M | 634.9M | 722.9M | 0 |
| Total Current Assets | 35.9M | 149.1M | 0 | 0 | 1.46B | 1.58B | 1.54B | 1.76B | 1.84B | 835.6M |
| Cash & Equivalents | 16.9M | 102.2M | 270M | 570.8M | 270.6M | 282.5M | 264.5M | 376M | 385M | 386.5M |
| Receivables | 0 | 37.7M | 74.7M | 140.5M | 231.3M | 362.4M | 383M | 479.2M | 567.9M | 1.77B |
| Other Current Assets | 35.9M | 0 | -407.2M | -816.7M | 0 | 4M | 7M | 9.7M | 11.8M | 0 |
| Goodwill & Intangibles | 100K | 600K | 600K | 600K | 6.8M | 58.4M | 50.7M | 44.8M | 39.2M | 121.7M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 19M | 19M | 19M | 19M | 19M |
| Intangible Assets | 100K | 600K | 0 | 0 | 6.8M | 39.4M | 31.7M | 25.8M | 20.2M | 8.1M |
| PP&E (Net) | 300K | 1M | 3.1M | 5.7M | 33.6M | 46M | 34.8M | 31.3M | 35.6M | 16.7M |
| Other Assets | 4.2M | -10.2M | -64.3M | -12.9M | 2.8M | 5.1M | 6.3M | 4M | 1.1M | 57.8M |
| Total Liabilities | 8.5M | 232.9M | 596.8M | 287.7M | 522.3M | 823.9M | 924.4M | 1.26B | 1.39B | 1.17B |
| Total Debt | 0 | 0 | 0 | 0 | 22.3M | 35.2M | 43.1M | 107.2M | 182.1M | 179.6M |
| Net Debt | -16.9M | -102.2M | -270M | -570.8M | -248.3M | -247.3M | -221.4M | -268.8M | -202.9M | -206.9M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 14.9M | 83.4M | 158.1M | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 179.6M |
| Total Current Liabilities | 2.5M | 3.8M | 0 | 0 | 500M | 788.7M | 881.3M | 1.15B | 1.21B | 0 |
| Accounts Payable | 2.1M | 3.8M | 4.6M | 14.4M | 19.7M | 19.5M | 24.6M | 31.1M | 26.9M | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 209.7M | 290.1M | 357.1M | 458.1M | 580.8M | 490.3M |
| Other Current Liabilities | 0 | -5.3M | -19.4M | -29.4M | 237.5M | 432.2M | 432.5M | 583.3M | 510.8M | -669.9M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 6M | 26.3M | 0 | -22.4M | -36.5M | -39.7M | -41.4M | -65.6M | -38.2M | 1.14B |
| 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 | -182.5M | 541M | 988.2M | 866.8M | 708.9M | 593.4M | 533.6M | 518M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -36.9M | -89.8M | -198.3M | -320.6M | -561.9M | -859.7M | -1.1B | -1.3B | -1.46B | -1.5B |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 100K | 1.8M | -3.4M | -27.6M | -9M | -6.1M | 6.4M | 700K |
| 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 | - | - | - | - | 0.02x | 0.04x | 0.06x | 0.18x | 0.34x | 0.34x |
| Book Value per Share | 2.94 | -1.81 | -4.18 | 9.78 | 16.14 | 13.35 | 10.18 | 8.36 | 7.43 | 6.79 |
| Tangible BV per Share | 2.93 | -1.83 | -4.18 | 9.78 | 16.03 | 12.45 | 9.45 | 7.72 | 6.88 | 6.43 |
Lemonade, Inc. (LMND) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -19.1M | -40.8M | -78.1M | -91.7M | -144.6M | -163M | -119.1M | -11.4M | -16.5M | -16.5M |
| 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% | -2.01% |
| Net Income | -28.1M | -52.9M | -108.5M | -122.3M | -241.3M | -297.8M | -236.9M | -202.2M | -165.5M | -138.9M |
| Depreciation & Amortization | 0 | 100K | 600K | 1.7M | 3.7M | 12.2M | 20M | 20M | 15.2M | 22.3M |
| Stock-Based Compensation | 8.4M | 2.1M | 4.3M | 10.6M | 44.1M | 59.3M | 59.9M | 64.5M | 0 | 51M |
| Deferred Taxes | 0 | 0 | 0 | -300K | -4.2M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 8.4M | 200K | 400K | 14.4M | 6.2M | 15.4M | 9.2M | 5.2M | 75.3M | 27.9M |
| Working Capital Changes | 600K | 9.7M | 25.1M | 4.2M | 46.9M | 47.9M | 28.7M | 101.1M | 58.5M | 67.8M |
| Cash from Investing | -12.7M | 6.4M | -54M | 50.1M | -804.8M | 181.1M | 88.7M | 40.6M | -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 | 0 | 0 | 0 | -54.5M | 795.4M | 98.8M | 0 | 0 | 0 | 0 |
| 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 | 15.6M | 20.9M | 22M | 72.3M | 47.4M | 362.5M | 493.1M | 413.8M | 424.7M | 636.8M |
| Other Investing | -12.4M | 7.1M | -600K | 54.5M | -795.4M | 0 | 0 | 0 | 0 | 28.6M |
| Cash from Financing | 800K | 119.9M | 300.1M | 341.1M | 649.6M | 3.6M | 15.4M | 87.7M | 106.6M | 112.8M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 800K | 119.9M | 0 | 339.3M | 640.3M | 0 | 0 | 19.3M | 31.9M | 26.6M |
| Debt Issuance (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 4M |
| Other Financing | 800K | 100K | 700K | 1.8M | 9.3M | 3.6M | 500K | 0 | 0 | 8.5M |
| 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 | 0 | 0 | -100K | 1.6M | -1M | -5.8M | 0 | -2.7M | 10.1M | 7.3M |
| Cash at Beginning | 47.9M | 16.9M | 102.4M | 270.3M | 571.4M | 270.6M | 286.5M | 271.5M | 385.7M | 396.8M |
| Cash at End | 16.9M | 102.4M | 270.3M | 571.4M | 270.6M | 286.5M | 271.5M | 385.7M | 396.8M | 386.5M |
| 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 | -0.36 | -0.36 |
Lemonade, Inc. (LMND) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| 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 | -4.18 | 9.78 | 16.14 | 13.35 | 10.18 | 8.36 | 7.43 | 6.79 |
| Debt / Equity | - | - | - | 0.02x | 0.04x | 0.06x | 0.18x | 0.34x | 0.34x |
| Revenue Growth | 837.5% | 199.11% | 40.27% | 36.02% | 99.92% | 67.43% | 22.5% | 40.15% | 46.99% |
Lemonade, Inc. (LMND) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Feb 19, 2026·SEC
Jan 27, 2026·SEC
Lemonade, Inc. (LMND) stock FAQ — growth, dividends, profitability & financials explained
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.
Lemonade, Inc. (LMND) has a return on equity (ROE) of -29.4%. Negative ROE indicates the company is unprofitable.
Lemonade, Inc. (LMND) has a combined ratio of 121.8%. A ratio above 100% means claims and expenses exceed premiums.
Lemonade, Inc. (LMND) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates