Saturday 17 October 2026 Export LMND’s income statement to Excel — free account

Lemonade, Inc.

LMND Financial Insurance Property & Casualty

Lemonade, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $737.9 million, up 40.2% from fiscal 2024. In the quarter to June 2026, revenue grew 79.4%, EPS grew 6.67%, free cash flow fell 335.3% and total debt rose 67.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

44.20 1.66 −3.62%

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Market cap: $3.6B
P/E: 0.0×
Fwd P/E: −29.8×
Dividend yield: —
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.49

Total sells 37.73

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	1	—	—	—	—	—	—	—
Sell	3	8	4	—	3	—	—	3	2	1	3	—

Insider Ownership 10.93%

Capital & Financial Ratios $m

Market Cap 3,550.00

Revenue 975.00

Net Income (138.40)

Free Cash Flow 8.10

Net Debt (173.90)

Current Ratio 0.81

Debt/Equity 0.41

P/E ratio 0.00

Fwd P/E (29.80)

P/S ratio 3.49

P/B ratio 6.81

Past 5Y EPS Growth —

This Y EPS Growth 17.61%

Next Y EPS Growth 42.11%

Next Y revenue growth 64.93%

Next 5Y EPS Growth 36.59%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 23.59%

10-year low 10-year high

P/B against its own 10 years 76.30%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2019	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	272	386	397	380
Receivables	360	472	556	623
Inventory	—	—	—	—
Other	—	—	—	—
	632	857	952	1,003

	2023	2024	2025	Q'26
Payables	681	847	943	1,026
ST’ Debt	15	83	158	206
Other	—	—	—	—
	696	930	1,101	1,233

Compound Annual Growth %

	10y	5y	3y
Sales	—	50.87%	42.19%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	(0.28%)	(14.93%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	258	294	—	—	—
’25	151	164	195	228	738
’24	119	122	137	149	527
’23	95	105	115	116	430
’22	44	50	74	88	257
’21	24	28	36	41	128
’20	26	30	18	21	94

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1)	(3)	—	—	—
’25	(47)	6	5	21	(16)
’24	(30)	(12)	16	14	(11)
’23	(46)	(50)	(6)	(16)	(119)
’22	(39)	(40)	(55)	(29)	(163)
’21	(40)	(16)	(38)	(50)	(145)
’20	(19)	(16)	(36)	(21)	(92)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(4)	(8)	—	—	—
’25	(49)	3	3	18	(26)
’24	(32)	(13)	14	11	(21)
’23	(49)	(52)	(8)	(18)	(128)
’22	(42)	(42)	(58)	(31)	(173)
’21	(42)	(19)	(41)	(52)	(154)
’20	(20)	(17)	(37)	(22)	(96)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.47)	(0.56)	—	—	—
’25	(0.86)	(0.60)	(0.51)	(0.29)	(2.24)
’24	(0.67)	(0.81)	(0.95)	(0.42)	(2.85)
’23	(0.95)	(0.97)	(0.88)	(0.61)	(3.40)
’22	(1.21)	(1.10)	(1.37)	(0.93)	(4.59)
’21	(0.81)	(0.90)	(1.08)	(1.14)	(3.94)
’20	(3.16)	(1.77)	(0.57)	(0.60)	(3.63)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	44.11	39.20	12.82	10.27	14.03	24.31	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	137.30	188.30	44.50	24.81	53.85	85.20
People
People	Employees	—	—	—	329	567	1,119	1,367	1,258	1,235	1,282
	Revenue/emp, $m	—	0.00	0.00	0.20	0.17	0.11	0.19	0.34	0.43	0.58
Income, $m
Income, $m	Revenue	—	2	23	67	94	128	257	430	527	738
	Gross margin, %	—	0.00	32.44	31.95	42.06	44.00	34.83	34.76	47.39	52.97
	EBT	—	(28)	(53)	(108)	(121)	(234)	(295)	(230)	(204)	(161)
	EBT margin, %	—	(1,166.67)	(233.78)	(160.33)	(127.97)	(181.93)	(114.84)	(53.47)	(38.73)	(21.81)
	Net income	—	(28)	(53)	(108)	(122)	(241)	(298)	(237)	(202)	(165)
	Depreciation	—	—	0	0	1	0	19	17	14	9
Per share, $
Per share, $	Revenue	—	0.04	2.06	6.05	2.80	2.10	3.95	6.17	7.41	9.98
	Earnings	—	(0.50)	(4.84)	(9.75)	(3.63)	(3.94)	(4.59)	(3.40)	(2.85)	(2.24)
	Cash flow	—	(0.34)	(3.73)	(7.02)	(2.72)	(2.36)	(2.51)	(1.71)	(0.16)	(0.22)
	Capex	—	0.00	(0.06)	(0.24)	(0.13)	(0.15)	(0.16)	(0.13)	(0.13)	(0.13)
	Free cash flow	—	(0.34)	(3.80)	(7.26)	(2.86)	(2.52)	(2.67)	(1.84)	(0.29)	(0.35)
	Book value	—	0.57	0.00	26.76	16.07	16.14	13.35	10.18	8.36	7.22
	Shares, m	—	57	11	11	34	61	65	70	71	74
Valuation, ×
Valuation, ×	P/E	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	—	9.28	9.28	9.28	43.67	20.08	3.47	2.76	4.95	7.13
	P/B	—	0.00	0.00	0.00	7.62	2.61	1.03	1.67	4.39	9.86
	EV/Sales	—	6.37	6.37	6.37	37.62	17.97	2.36	2.16	4.37	6.81
	EV/FCF	—	(7.18)	(7.18)	(7.18)	(36.95)	(14.98)	(3.49)	(7.25)	(110.71)	(194.00)
Cash, $m
Cash, $m	Operating cash flow	—	(19)	(41)	(78)	(92)	(145)	(163)	(119)	(11)	(16)
	Capex	—	0	(1)	(3)	(4)	(9)	(10)	(9)	(9)	(9)
	Free cash flow	—	(19)	(41)	(81)	(96)	(154)	(173)	(128)	(21)	(26)
Balance, $m
Balance, $m	Working capital	—	—	—	248	500	126	20	(64)	(73)	(148)
	Total debt	—	—	—	—	—	22	26	15	83	158
	Net debt	—	—	—	(270)	(571)	(271)	(286)	(257)	(302)	(239)
	Shareholders’ equity	—	32	—	298	541	988	867	709	593	534
Returns, %
Returns, %	ROA	—	(30.88)	(258.05)	(47.66)	(19.68)	(20.63)	(18.61)	(14.25)	(11.61)	(8.77)
	ROIC	—	0.00	0.00	(246.12)	0.00	(20.35)	(31.75)	(31.75)	(43.78)	(34.10)
	ROE	—	52.52	98.88	82.98	(68.23)	(31.56)	(32.11)	(30.07)	(31.05)	(29.37)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
RLI RLI Corp.	$5.5B	12.8×	19.5×	+15.15% (above 0%: growing)	+35.82% (above 0%: growing)	−17.87% (below 0%: shrinking)	43.61%	36.86%	Compare
HGTY Hagerty, Inc.	$5.3B	95.6×	— (loss-making)	−6.46% (below 0%: shrinking)	n/m	+238.74% (above 0%: growing)	100.00%	18.38%	Compare
SIGI Selective Insurance Group, Inc.	$5.2B	11.1×	11.4×	+4.54% (above 0%: growing)	+55.15% (above 0%: growing)	+34.56% (above 0%: growing)	41.15%	12.69%	Compare
WTM White Mountains Insurance Group, Ltd.	$5.1B	4.9×	5.1×	+22.55% (above 0%: growing)	+68.75% (above 0%: growing)	−131.27% (below 0%: shrinking)	54.44%	32.51%	Compare
PLMR Palomar Holdings, Inc.	$3.6B	18.2×	13.7×	+54.65% (above 0%: growing)	+14.94% (above 0%: growing)	+38.21% (above 0%: growing)	23.77%	23.77%	Compare
LMND Lemonade, Inc.	$3.6B	— (loss-making)	— (loss-making)	+79.40% (above 0%: growing)	n/m	−335.29% (below 0%: shrinking)	47.69%	(14.20%)
SLDE Slide Insurance Holdings, Inc.	$3.1B	5.9×	4.8×	+47.86% (above 0%: growing)	+11.43% (above 0%: growing)	+18.76% (above 0%: growing)	60.96%	46.37%	Compare
SKWD Skyward Specialty Insurance Group, Inc.	$2.7B	13.8×	10.3×	+53.03% (above 0%: growing)	+14.58% (above 0%: growing)	−23.60% (below 0%: shrinking)	43.47%	14.78%	Compare
HCI HCI Group, Inc.	$2.4B	8.3×	8.6×	+11.15% (above 0%: growing)	+3.77% (above 0%: growing)	−13.60% (below 0%: shrinking)	58.07%	45.43%	Compare
Median of peers	$4.4B	11.9×	10.3×	+18.85%	+14.94%	+2.58%	49.02%	28.14%

All 45 Insurance Property & Casualty stocks →

Lemonade, Inc. (LMND) key facts

Concern: Lemonade, Inc. reported a net loss of $165.5 million, or a loss of $2.24 per share, for fiscal 2025.
Strength: Lemonade, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $737.9 million, up 40.2% from fiscal 2024.
Lemonade, Inc. (LMND) is an Insurance Property & Casualty company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, LMND traded at $44.20, a market capitalization of $3.6 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 3.5× sales.
Return on equity was −29.4% and debt-to-equity 0.41.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.