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LMND logoLemonade, Inc.(LMND)Earnings, Financials & Key Ratios

LMND•NYSE•Insurance & Managed Care
$53.00
$4.07B mkt cap·Price updated May 6, 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%
  • Book Value per Share7.43-11.1%
  • Tangible BV/Share6.88-10.9%
  • Debt/Equity0.34+88.9%
Technical→

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.

LMND Price & Volume

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

Loading chart...

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
EPS
$0.47
Est $0.58
+19.0%
Revenue
$258M
Est $252M
+2.6%
Q1 2026
Feb 19, 2026
EPS
$0.29
Est $0.41
+29.3%
Revenue
$228M
Est $218M
+4.7%
Q4 2025
Nov 5, 2025
EPS
$0.51
Est $0.72
+29.2%
Revenue
$195M
Est $218M
-10.8%
Q3 2025
Aug 5, 2025
EPS
$0.60
Est $0.81
+25.9%
Revenue
$164M
Est $184M
-10.8%
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
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ROOT logoROOTRoot, Inc.Direct Competitor771.58M55.0524.5828.95%3.59%15.42%0.51
HIPO logoHIPOHippo Holdings Inc.Direct Competitor712.99M27.3912.3425.93%23.45%27.43%0.12
GO logoGOGrocery Outlet Holding Corp.Direct Competitor781.3M7.96-3.467.26%-4.8%-19.78%1.84
OSCR logoOSCROscar Health, Inc.Direct Competitor5.14B19.84-11.7427.5%-0.3%-3.26%0.44
PGR logoPGRThe Progressive CorporationProduct Competitor115.34B196.8013.6721.36%12.58%30.23%0.27
ALL logoALLThe Allstate CorporationProduct Competitor56.1B217.925.714.64%18.09%42.74%0.24
TRV logoTRVThe Travelers Companies, Inc.Product Competitor65.22B301.5910.995.17%12.88%19.12%0.28
HIG logoHIGThe Hartford Financial Services Group, Inc.Product Competitor36.71B133.4910.027.1%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
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue2.4M22.5M67.3M94.4M128.4M256.7M429.8M526.5M737.9M821.1M
Revenue Growth %-837.5%199.11%40.27%36.02%99.92%67.43%22.5%40.15%46.99%
Medical Costs & Claims019.4M55.4M74M105.5M228.3M339.6M353.8M440.7M430.4M
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 Expenses28.7M55.7M119.8M141.2M256.5M323.2M320M376.6M458.1M524.8M
OpEx / Revenue %1195.83%247.56%178.01%149.58%199.77%125.91%74.45%71.53%62.08%63.91%
Depreciation & Amortization28M100K600K1.7M3.7M12.2M20M20M15.2M13.4M
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%-
EBITDA1.7M-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 Expense0000000000
Non-Operating Income0000000000
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 Tax100K300K600K1.5M7.7M3M7.1M-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 Outstanding10.89M43.61M43.61M55.32M61.22M64.92M69.66M71.02M71.82M76.31M

LMND Balance Sheet

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

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets40.5M153.8M414.3M828.7M1.51B1.69B1.63B1.85B1.93B1.69B
Asset Growth %-279.75%169.38%100.02%82.27%11.93%-3.4%13.21%4.14%13.22%
Total Investment Assets13.1M9.4M61M7.5M805.2M753.8M678.7M641.6M729.4M4M
Long-Term Investments09.2M60.6M6.6M3.4M3.7M5.5M6.7M6.5M1.58B
Short-Term Investments13.1M9.2M60.6M6.6M801.8M750.1M673.2M634.9M722.9M0
Total Current Assets35.9M149.1M001.46B1.58B1.54B1.76B1.84B835.6M
Cash & Equivalents16.9M102.2M270M570.8M270.6M282.5M264.5M376M385M386.5M
Receivables037.7M74.7M140.5M231.3M362.4M383M479.2M567.9M1.77B
Other Current Assets35.9M0-407.2M-816.7M04M7M9.7M11.8M0
Goodwill & Intangibles100K600K600K600K6.8M58.4M50.7M44.8M39.2M121.7M
Goodwill0000019M19M19M19M19M
Intangible Assets100K600K006.8M39.4M31.7M25.8M20.2M8.1M
PP&E (Net)300K1M3.1M5.7M33.6M46M34.8M31.3M35.6M16.7M
Other Assets4.2M-10.2M-64.3M-12.9M2.8M5.1M6.3M4M1.1M57.8M
Total Liabilities8.5M232.9M596.8M287.7M522.3M823.9M924.4M1.26B1.39B1.17B
Total Debt000022.3M35.2M43.1M107.2M182.1M179.6M
Net Debt-16.9M-102.2M-270M-570.8M-248.3M-247.3M-221.4M-268.8M-202.9M-206.9M
Long-Term Debt00000014.9M83.4M158.1M0
Short-Term Debt000000000179.6M
Total Current Liabilities2.5M3.8M00500M788.7M881.3M1.15B1.21B0
Accounts Payable2.1M3.8M4.6M14.4M19.7M19.5M24.6M31.1M26.9M0
Deferred Revenue0000209.7M290.1M357.1M458.1M580.8M490.3M
Other Current Liabilities0-5.3M-19.4M-29.4M237.5M432.2M432.5M583.3M510.8M-669.9M
Deferred Taxes0000000000
Other Liabilities6M26.3M0-22.4M-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 Equity32M-79.1M-182.5M541M988.2M866.8M708.9M593.4M533.6M518M
Minority Interest0000000000
Retained Earnings-36.9M-89.8M-198.3M-320.6M-561.9M-859.7M-1.1B-1.3B-1.46B-1.5B
Common Stock0000000000
Accumulated OCI00100K1.8M-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 / Assets79.01%-51.43%-44.05%65.28%65.42%51.27%43.4%32.09%27.71%30.68%
Debt / Equity----0.02x0.04x0.06x0.18x0.34x0.34x
Book Value per Share2.94-1.81-4.189.7816.1413.3510.188.367.436.79
Tangible BV per Share2.93-1.83-4.189.7816.0312.459.457.726.886.43

LMND Cash Flow Statement

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

Line itemDec'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-16.5M-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 & Amortization0100K600K1.7M3.7M12.2M20M20M15.2M22.3M
Stock-Based Compensation8.4M2.1M4.3M10.6M44.1M59.3M59.9M64.5M051M
Deferred Taxes000-300K-4.2M00000
Other Non-Cash Items8.4M200K400K14.4M6.2M15.4M9.2M5.2M75.3M27.9M
Working Capital Changes600K9.7M25.1M4.2M46.9M47.9M28.7M101.1M58.5M67.8M
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
Acquisitions000-54.5M795.4M98.8M0000
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 Investments15.6M20.9M22M72.3M47.4M362.5M493.1M413.8M424.7M636.8M
Other Investing-12.4M7.1M-600K54.5M-795.4M000028.6M
Cash from Financing800K119.9M300.1M341.1M649.6M3.6M15.4M87.7M106.6M112.8M
Dividends Paid0000000000
Share Repurchases0000000000
Stock Issued800K119.9M0339.3M640.3M0019.3M31.9M26.6M
Debt Issuance (Net)0000001000K1000K1000K4M
Other Financing800K100K700K1.8M9.3M3.6M500K008.5M
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 Effect00-100K1.6M-1M-5.8M0-2.7M10.1M7.3M
Cash at Beginning47.9M16.9M102.4M270.3M571.4M270.6M286.5M271.5M385.7M396.8M
Cash at End16.9M102.4M270.3M571.4M270.6M286.5M271.5M385.7M396.8M386.5M
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-1.78-0.95-1.87-1.74-2.52-2.67-1.84-0.29-0.36-0.36

LMND Key Ratios

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

Metric20182019202020212022202320242025TTM
Combined Ratio333.78%260.33%227.97%281.93%214.84%153.47%138.73%121.81%116.33%
Medical Cost Ratio86.22%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---0.02x0.04x0.06x0.18x0.34x0.34x
Revenue Growth837.5%199.11%40.27%36.02%99.92%67.43%22.5%40.15%46.99%

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.

Explore More LMND

Lemonade, Inc. (LMND) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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