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Lemonade (LMND) Financials

Lemonade logo
$33.10 +2.18 (+7.05%)
Closing price 05/27/2025 03:59 PM Eastern
Extended Trading
$33.40 +0.30 (+0.89%)
As of 04:30 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Lemonade

Annual Income Statements for Lemonade

This table shows Lemonade's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018
Net Income / (Loss) Attributable to Common Shareholders
-202 -237 -298 -241 -122 -109 -53
Consolidated Net Income / (Loss)
-202 -237 -298 -241 -122 -109 -53
Net Income / (Loss) Continuing Operations
-202 -237 -298 -241 -122 -109 -53
Total Pre-Tax Income
-204 -230 -295 -234 -121 -108 -53
Total Revenue
527 430 257 128 94 67 23
Net Interest Income / (Expense)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Income
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income
527 430 257 128 94 67 23
Trust Fees by Commissions
91 70 64 45 15 0.00 0.00
Other Service Charges
31 20 12 4.60 0.30 0.10 0.00
Net Realized & Unrealized Capital Gains on Investments
34 25 8.40 1.90 1.50 3.40 1.30
Premiums Earned
371 315 172 77 77 64 21
Total Non-Interest Expense
730 660 552 362 215 175 75
Marketing Expense
252 191 218 193 100 98 46
Property & Liability Insurance Claims
277 280 167 72 55 46 15
Other Operating Expenses
201 189 166 97 61 31 14
Income Tax Expense
-1.70 7.10 3.00 7.70 1.50 0.60 0.30
Basic Earnings per Share
($2.85) ($3.40) ($4.59) ($3.94) ($3.63) ($9.75) ($4.84)
Weighted Average Basic Shares Outstanding
71.02M 69.66M 64.92M 61.22M 33.65M 11.12M 10.93M
Diluted Earnings per Share
($2.85) ($3.40) ($4.59) ($3.94) ($3.63) ($9.75) ($4.84)
Weighted Average Diluted Shares Outstanding
71.02M 69.66M 64.92M 61.22M 33.65M 11.12M 10.93M
Weighted Average Basic & Diluted Shares Outstanding
72.82M 70.22M 69.30M 61.69M 33.65M 11.12M 10.93M

Quarterly Income Statements for Lemonade

This table shows Lemonade's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
-62 -30 -68 -57 -47 -42 -62 -67 -66 -64 -91
Consolidated Net Income / (Loss)
-62 -30 -68 -57 -47 -42 -62 -67 -66 -64 -91
Net Income / (Loss) Continuing Operations
-62 -30 -68 -57 -47 -42 -62 -67 -66 -64 -91
Total Pre-Tax Income
-61 -38 -66 -55 -45 -40 -60 -66 -65 -68 -89
Total Revenue
151 149 137 122 119 116 115 105 95 88 74
Net Interest Income / (Expense)
0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Income
0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense
0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income
151 149 137 122 119 116 115 105 95 88 74
Trust Fees by Commissions
27 30 24 17 21 18 17 18 17 18 17
Other Service Charges
11 8.60 8.00 8.10 6.10 6.10 4.20 5.00 4.80 3.80 3.90
Net Realized & Unrealized Capital Gains on Investments
9.50 9.40 8.90 8.10 7.60 7.10 7.00 5.60 5.00 3.70 2.60
Premiums Earned
104 101 96 89 84 84 87 77 68 63 51
Total Non-Interest Expense
213 187 202 177 164 155 174 171 160 157 163
Marketing Expense
65 70 73 58 51 46 46 49 50 51 57
Property & Liability Insurance Claims
85 63 78 71 66 65 76 76 64 62 53
Other Operating Expenses
62 54 51 49 47 45 52 46 46 44 53
Income Tax Expense
1.00 -7.80 1.90 2.10 2.10 2.80 1.90 1.30 1.10 -4.40 2.30
Basic Earnings per Share
($0.86) ($0.42) ($0.95) ($0.81) ($0.67) ($0.60) ($0.88) ($0.97) ($0.95) ($0.91) ($1.37)
Weighted Average Basic Shares Outstanding
72.92M 71.02M 71.14M 70.72M 70.28M 69.66M 69.75M 69.53M 69.33M 64.92M 66.88M
Diluted Earnings per Share
($0.86) ($0.42) ($0.95) ($0.81) ($0.67) ($0.60) ($0.88) ($0.97) ($0.95) ($0.91) ($1.37)
Weighted Average Diluted Shares Outstanding
72.92M 71.02M 71.14M 70.72M 70.28M 69.66M 69.75M 69.53M 69.33M 64.92M 66.88M
Weighted Average Basic & Diluted Shares Outstanding
73.27M 72.82M 71.40M 71.03M 70.50M 70.22M 69.92M 69.69M 69.49M 69.30M 69.16M

Annual Cash Flow Statements for Lemonade

This table details how cash moves in and out of Lemonade's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018
Net Change in Cash & Equivalents
114 -15 16 -301 301 168 86
Net Cash From Operating Activities
-11 -119 -163 -145 -92 -78 -41
Net Cash From Continuing Operating Activities
-11 -119 -163 -145 -92 -78 -41
Net Income / (Loss) Continuing Operations
-202 -237 -298 -241 -122 -109 -53
Consolidated Net Income / (Loss)
-202 -237 -298 -241 -122 -109 -53
Provision For Loan Losses
11 8.10 8.70 6.20 2.20 0.90 0.00
Depreciation Expense
20 20 12 3.70 1.70 0.60 0.10
Amortization Expense
-6.10 -2.60 6.70 -4.20 -0.40 -0.50 0.00
Non-Cash Adjustments to Reconcile Net Income
65 64 59 44 23 4.30 2.30
Changes in Operating Assets and Liabilities, net
101 29 48 47 4.20 25 9.70
Net Cash From Investing Activities
41 89 181 -805 50 -54 6.40
Net Cash From Continuing Investing Activities
41 89 181 -805 50 -54 6.40
Purchase of Property, Leasehold Improvements and Equipment
-9.40 -9.20 -10 -9.40 -4.40 -2.70 -0.70
Purchase of Investment Securities
-364 -395 -171 -843 -18 -73 -14
Sale and/or Maturity of Investments
414 493 363 47 72 22 21
Net Cash From Financing Activities
88 15 3.60 650 341 300 120
Net Cash From Continuing Financing Activities
88 15 3.60 650 341 300 120
Issuance of Debt
96 19 0.00 0.00 - - -
Repayment of Debt
-28 -4.20 0.00 0.00 1.30 - 0.00
Other Financing Activities, Net
19 0.50 3.60 9.30 1.80 0.70 0.10
Effect of Exchange Rate Changes
-2.70 0.00 -5.80 -1.00 1.60 -0.10 0.00
Cash Interest Paid
5.00 0.30 0.00 0.00 - - -
Cash Income Taxes Paid
2.50 0.70 3.40 3.20 1.60 0.50 0.20

Quarterly Cash Flow Statements for Lemonade

This table details how cash moves in and out of Lemonade's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-66 48 -12 65 14 33 44 -61 -32 62 25
Net Cash From Operating Activities
-47 14 16 -12 -30 -16 -6.30 -50 -46 -29 -55
Net Cash From Continuing Operating Activities
-47 14 17 -12 -30 -16 -6.30 -50 -46 -29 -55
Net Income / (Loss) Continuing Operations
-62 -30 -68 -57 -47 -42 -62 -67 -66 -64 -91
Consolidated Net Income / (Loss)
-62 -30 -68 -57 -47 -42 -62 -67 -66 -64 -91
Provision For Loan Losses
4.50 3.10 2.60 2.10 3.20 2.10 2.10 1.60 2.30 2.30 2.80
Depreciation Expense
4.50 4.70 5.10 5.20 5.00 4.80 5.00 5.10 5.10 5.40 3.70
Amortization Expense
-1.50 -1.60 -1.70 -1.50 -1.30 -1.30 -1.30 -0.20 0.20 0.80 1.30
Non-Cash Adjustments to Reconcile Net Income
10 17 17 15 15 14 19 15 15 16 16
Changes in Operating Assets and Liabilities, net
-2.60 20 61 24 -4.30 6.40 30 -4.40 -3.60 11 13
Net Cash From Investing Activities
-40 2.50 -54 61 31 41 44 -11 15 88 81
Net Cash From Continuing Investing Activities
-40 2.50 -54 61 31 41 44 -11 15 88 81
Purchase of Property, Leasehold Improvements and Equipment
-2.30 -3.20 -2.20 -1.50 -2.50 -2.40 -2.20 -1.90 -2.70 -2.60 -2.90
Purchase of Investment Securities
-78 -74 -123 -113 -55 -35 -90 -145 -126 -32 -21
Sale and/or Maturity of Investments
40 79 71 176 88 78 136 136 144 123 105
Net Cash From Financing Activities
20 35 24 16 14 7.20 7.90 0.20 0.10 0.30 2.30
Net Cash From Continuing Financing Activities
20 35 24 16 14 7.20 7.90 0.20 0.10 0.30 2.30
Issuance of Debt
30 26 31 22 18 9.80 9.30 - 0.00 - -
Repayment of Debt
-12 -9.70 -7.30 -6.60 -4.10 -2.60 -1.60 - 0.00 - -
Other Financing Activities, Net
1.50 19 0.10 - 0.10 - 0.20 0.20 0.10 0.30 2.30
Effect of Exchange Rate Changes
1.50 -3.40 2.30 -0.70 -0.90 1.70 -1.00 - -0.70 2.30 -2.80
Cash Interest Paid
3.10 2.60 1.10 0.80 0.50 0.20 0.10 - 0.00 - -
Cash Income Taxes Paid
0.30 0.50 0.80 0.90 0.30 0.10 0.30 0.10 0.20 - 0.70

Annual Balance Sheets for Lemonade

This table presents Lemonade's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019
Total Assets
1,849 1,633 1,691 1,511 829 414
Cash and Due from Banks
386 272 287 271 571 270
Time Deposits Placed and Other Short-Term Investments
28 46 100 - - -
Trading Account Securities
607 627 650 691 6.60 5.90
Loans and Leases, Net of Allowance
0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net
16 17 20 12 5.70 3.10
Unearned Premiums Asset
725 557 501 366 226 75
Deferred Acquisition Cost
12 8.80 6.90 6.20 3.50 1.80
Goodwill
19 19 19 0.00 - -
Intangible Assets
14 23 33 0.60 0.60 0.60
Other Assets
42 64 75 164 15 57
Total Liabilities & Shareholders' Equity
1,849 1,633 1,691 1,511 829 414
Total Liabilities
1,256 924 824 522 288 117
Short-Term Debt
83 15 0.00 - - -
Claims and Claim Expense
298 262 256 98 46 28
Unearned Premiums Liability
479 377 306 226 137 68
Other Long-Term Liabilities
395 270 261 198 105 20
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
593 709 867 988 541 -183
Total Preferred & Common Equity
593 709 867 988 541 -183
Total Common Equity
593 709 867 988 541 -183
Common Stock
1,898 1,815 1,754 1,554 860 16
Retained Earnings
-1,299 -1,097 -860 -562 -321 -198
Accumulated Other Comprehensive Income / (Loss)
-6.10 -9.00 -28 -3.40 1.80 0.10

Quarterly Balance Sheets for Lemonade

This table presents Lemonade's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets
1,857 1,823 1,714 1,646 1,648 1,613 1,641 1,713
Cash and Due from Banks
320 338 350 285 238 194 255 225
Time Deposits Placed and Other Short-Term Investments
21 31 44 22 73 71 - -
Trading Account Securities
656 610 537 620 633 677 649 693
Loans and Leases, Net of Allowance
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net
16 16 16 17 17 19 20 19
Unearned Premiums Asset
764 742 681 612 565 529 345 369
Deferred Acquisition Cost
11 12 11 9.80 8.10 6.60 6.90 7.60
Goodwill
19 19 19 19 19 19 19 11
Intangible Assets
11 16 18 21 25 28 30 36
Other Assets
39 39 37 41 68 70 318 352
Total Liabilities & Shareholders' Equity
1,857 1,823 1,714 1,646 1,648 1,613 1,641 1,713
Total Liabilities
1,311 1,230 1,079 970 921 842 819 806
Short-Term Debt
102 67 44 28 7.70 - - -
Claims and Claim Expense
307 294 282 264 255 256 245 221
Unearned Premiums Liability
502 496 427 398 392 335 319 319
Other Long-Term Liabilities
400 373 325 280 266 251 256 267
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
546 593 635 676 727 771 822 907
Total Preferred & Common Equity
546 593 635 676 727 771 822 907
Total Common Equity
546 593 635 676 727 771 822 907
Common Stock
1,910 1,862 1,845 1,830 1,800 1,785 1,770 1,738
Retained Earnings
-1,361 -1,269 -1,201 -1,144 -1,054 -993 -926 -796
Accumulated Other Comprehensive Income / (Loss)
-3.40 -0.10 -8.60 -9.20 -19 -21 -22 -35

Annual Metrics And Ratios for Lemonade

This table displays calculated financial ratios and metrics derived from Lemonade's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018
Growth Metrics
- - - - - - -
Revenue Growth
22.50% 67.43% 99.92% 36.02% 40.27% 199.11% 0.00%
EBITDA Growth
10.55% 23.02% -17.86% -95.90% -10.85% -105.33% 0.00%
EBIT Growth
11.27% 22.05% -26.20% -93.38% -11.96% -105.13% 0.00%
NOPAT Growth
11.27% 22.05% -26.20% -93.38% -11.96% -105.13% 0.00%
Net Income Growth
14.65% 20.45% -23.41% -97.30% -12.72% -105.10% 0.00%
EPS Growth
16.18% 25.93% -16.50% -8.54% 62.77% -101.45% 0.00%
Operating Cash Flow Growth
90.43% 26.93% -12.72% -57.69% -17.41% -91.42% 0.00%
Free Cash Flow Firm Growth
-436.00% 78.98% 86.09% -86.27% 12.16% 0.00% 0.00%
Invested Capital Growth
-6.49% -16.50% -12.29% 82.66% 81.73% 0.00% 0.00%
Revenue Q/Q Growth
6.75% 6.73% 22.65% 19.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth
0.73% 10.83% 2.82% -18.83% 0.00% 0.00% 0.00%
EBIT Q/Q Growth
0.88% 11.03% 0.10% -17.62% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth
0.88% 11.03% 0.10% -17.62% 0.00% 0.00% 0.00%
Net Income Q/Q Growth
5.78% 8.25% 2.17% -17.76% 0.00% 0.00% 0.00%
EPS Q/Q Growth
5.94% 8.36% 4.97% -328.26% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth
72.40% 9.50% 11.56% -25.30% -3.38% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth
-37.17% -107.43% -29.97% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth
2.48% -1.47% -4.41% -5.71% 0.00% 0.00% 0.00%
Profitability Metrics
- - - - - - -
EBITDA Margin
-36.09% -49.42% -107.48% -182.32% -126.59% -160.18% -233.33%
EBIT Margin
-38.73% -53.47% -114.84% -181.93% -127.97% -160.33% -233.78%
Profit (Net Income) Margin
-38.40% -55.12% -116.01% -187.93% -129.56% -161.22% -235.11%
Tax Burden Percent
99.17% 103.09% 101.02% 103.30% 101.24% 100.56% 100.57%
Interest Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
-20.38% -20.23% -22.25% -21.39% -20.16% -50.74% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)
-141.38% -1,040.90% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)
-10.67% -9.84% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)
-31.05% -30.07% 0.00% 0.00% 0.00% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)
-13.67% -2.25% -9.16% -79.87% -78.18% -250.74% 0.00%
Operating Return on Assets (OROA)
-11.71% -13.83% -18.42% -19.97% -19.44% -26.04% 0.00%
Return on Assets (ROA)
-11.61% -14.25% -18.61% -20.63% -19.68% -26.19% 0.00%
Return on Common Equity (ROCE)
-31.05% -30.07% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)
-34.07% -33.42% -34.36% -24.42% -22.61% 59.45% 0.00%
Net Operating Profit after Tax (NOPAT)
-143 -161 -206 -164 -85 -76 -37
NOPAT Margin
-27.11% -37.43% -80.39% -127.35% -89.58% -112.23% -163.64%
Net Nonoperating Expense Percent (NNEP)
121.00% 1,020.67% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
47.88% 44.37% 84.89% 150.62% 105.72% 146.06% 206.22%
Operating Expenses to Revenue
138.73% 153.47% 214.84% 281.93% 227.97% 260.33% 333.78%
Earnings before Interest and Taxes (EBIT)
-204 -230 -295 -234 -121 -108 -53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-190 -212 -276 -234 -120 -108 -53
Valuation Ratios
- - - - - - -
Price to Book Value (P/BV)
4.41 1.59 1.09 2.63 12.81 0.00 0.00
Price to Tangible Book Value (P/TBV)
4.67 1.69 1.16 2.63 12.83 0.00 0.00
Price to Revenue (P/Rev)
4.97 2.62 3.69 20.21 73.44 4.74 14.18
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
3.38 1.14 0.65 2.35 11.76 1.78 0.00
Enterprise Value to Revenue (EV/Rev)
4.35 1.92 2.18 18.10 67.38 7.86 0.00
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - -
Debt to Equity
0.14 0.02 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage
0.08 0.01 0.00 0.00 0.00 0.00 0.00
Leverage Ratio
2.67 2.11 1.73 1.53 1.48 1.39 0.00
Compound Leverage Factor
2.67 2.11 1.73 1.53 1.48 1.39 0.00
Debt to Total Capital
12.32% 2.06% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
12.32% 2.06% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 161.30% 0.00%
Common Equity to Total Capital
87.68% 97.94% 100.00% 100.00% 100.00% -61.30% 0.00%
Debt to EBITDA
-0.44 -0.07 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA
1.74 1.42 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
-0.58 -0.09 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT
2.31 1.88 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 57.26% 161.30% 0.00%
Liquidity Ratios
- - - - - - -
Cash Flow Metrics
- - - - - - -
Free Cash Flow to Firm (FCFF)
-96 -18 -85 -611 -328 -373 0.00
Operating Cash Flow to CapEx
-121.28% -1,294.57% -1,613.86% -1,538.30% -2,084.09% -2,892.59% -5,828.57%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - -
Asset Turnover
0.30 0.26 0.16 0.11 0.15 0.16 0.00
Fixed Asset Turnover
31.43 23.23 16.40 14.76 21.45 21.71 0.00
Capital & Investment Metrics
- - - - - - -
Invested Capital
677 724 867 988 541 298 0.00
Invested Capital Turnover
0.75 0.54 0.28 0.17 0.23 0.45 0.00
Increase / (Decrease) in Invested Capital
-47 -143 -121 447 243 298 0.00
Enterprise Value (EV)
2,289 825 560 2,325 6,361 529 0.00
Market Capitalization
2,619 1,128 946 2,595 6,932 319 319
Book Value per Share
$8.31 $10.14 $12.53 $16.04 $9.56 ($16.41) $0.00
Tangible Book Value per Share
$7.85 $9.54 $11.79 $16.03 $9.55 ($16.46) $0.00
Total Capital
677 724 867 988 541 298 0.00
Total Debt
83 15 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
-330 -302 -386 -271 -571 -270 0.00
Capital Expenditures (CapEx)
9.40 9.20 10 9.40 4.40 2.70 0.70
Net Nonoperating Expense (NNE)
59 76 91 78 38 33 16
Net Nonoperating Obligations (NNO)
83 15 0.00 0.00 0.00 0.00 0.00
Total Depreciation and Amortization (D&A)
14 17 19 -0.50 1.30 0.10 0.10
Earnings Adjustments
- - - - - - -
Adjusted Basic Earnings per Share
($2.85) ($3.40) ($4.59) ($3.94) ($3.63) $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding
71.02M 69.66M 64.92M 61.22M 61.28M 0.00 0.00
Adjusted Diluted Earnings per Share
($2.85) ($3.40) ($4.59) ($3.94) ($3.63) $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
71.02M 69.66M 64.92M 61.22M 61.28M 0.00 0.00
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 ($3.63) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
72.82M 70.22M 69.30M 61.69M 33.65M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)
-143 -161 -206 -164 -85 -76 -37
Normalized NOPAT Margin
-27.11% -37.43% -80.39% -127.35% -89.58% -112.23% -163.64%
Pre Tax Income Margin
-38.73% -53.47% -114.84% -181.93% -127.97% -160.33% -233.78%
Debt Service Ratios
- - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Lemonade

This table displays calculated financial ratios and metrics derived from Lemonade's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
26.95% 28.83% 19.30% 16.63% 25.11% 30.66% 54.73% 109.20% 114.90% 115.61% 107.28%
EBITDA Growth
-40.72% 3.88% -11.63% 15.74% 30.13% 41.68% 33.53% 0.49% 13.41% 11.44% -29.58%
EBIT Growth
-35.84% 4.55% -10.40% 16.39% 30.14% 41.85% 33.11% -1.38% 10.88% 0.44% -38.79%
NOPAT Growth
-35.84% 4.55% -10.40% 16.39% 30.14% 41.85% 33.11% -1.38% 10.88% 0.44% -38.79%
Net Income Growth
-31.92% 29.25% -10.08% 14.88% 28.12% 33.44% 32.71% 1.03% 12.03% 9.39% -37.65%
EPS Growth
-28.36% 30.00% -7.95% 16.49% 29.47% 34.07% 35.77% 11.82% 21.49% 20.87% -26.85%
Operating Cash Flow Growth
-58.39% 185.71% 358.73% 76.74% 35.78% 43.71% 88.48% -25.12% -17.47% 42.69% -43.19%
Free Cash Flow Firm Growth
-83.24% -82.18% -78.43% 66.81% 87.37% 56.35% 65.52% -84.56% -74.69% 114.89% 115.05%
Invested Capital Growth
-8.13% -6.49% -10.10% -11.92% -14.25% -16.50% -18.99% -9.20% -9.96% -12.29% -13.47%
Revenue Q/Q Growth
1.61% 8.93% 11.97% 2.43% 3.12% 0.87% 9.46% 9.87% 7.69% 19.46% 48.00%
EBITDA Q/Q Growth
-68.30% 44.39% -21.40% -23.86% -14.96% 35.42% 8.36% -2.69% 4.04% 26.40% -37.19%
EBIT Q/Q Growth
-62.43% 42.55% -19.42% -21.90% -14.14% 33.56% 9.56% -1.85% 4.99% 23.57% -37.08%
NOPAT Q/Q Growth
-62.43% 42.55% -19.42% -21.90% -14.14% 33.56% 9.56% -1.85% 4.99% 23.57% -37.08%
Net Income Q/Q Growth
-108.00% 55.69% -18.36% -20.93% -11.56% 31.06% 8.48% -2.13% -3.30% 30.31% -34.61%
EPS Q/Q Growth
-104.76% 55.79% -17.28% -20.90% -11.67% 31.82% 9.28% -2.11% -4.40% 33.58% -24.55%
Operating Cash Flow Q/Q Growth
-442.03% -15.34% 239.32% 60.74% -85.09% -155.56% 87.48% -8.41% -62.24% 47.71% -36.07%
Free Cash Flow Firm Q/Q Growth
-30.28% -27.01% -47.23% -37.60% -25.87% -11.65% 308.13% -29.91% -38.14% -6.47% -61.92%
Invested Capital Q/Q Growth
-4.34% 2.48% -2.75% -3.63% -2.64% -1.47% -4.72% -6.18% -5.19% -4.41% 6.80%
Profitability Metrics
- - - - - - - - - - -
EBITDA Margin
-38.62% -23.32% -45.68% -42.13% -34.84% -31.26% -48.82% -58.32% -62.40% -70.02% -113.65%
EBIT Margin
-40.61% -25.40% -48.17% -45.16% -37.95% -34.29% -52.05% -63.00% -67.96% -77.04% -120.41%
Profit (Net Income) Margin
-41.27% -20.16% -49.56% -46.89% -39.71% -36.71% -53.71% -64.24% -69.12% -72.06% -123.51%
Tax Burden Percent
101.63% 79.37% 102.89% 103.81% 104.65% 107.07% 103.19% 101.97% 101.70% 93.54% 102.58%
Interest Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
-23.49% -13.37% -23.84% -20.54% -15.79% -12.97% -17.88% -19.72% -16.87% -14.92% -18.05%
ROIC Less NNEP Spread (ROIC-NNEP)
-53.32% -20.57% -81.47% -105.42% -126.46% -210.02% -531.64% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)
-5.68% -1.55% -4.64% -3.29% -2.39% -1.99% -2.51% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)
-29.17% -14.92% -28.48% -23.83% -18.18% -14.96% -20.38% 0.00% 0.00% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)
-14.31% -13.67% -10.01% -6.59% -3.95% -2.25% -1.05% -15.23% -12.68% -9.16% -6.69%
Operating Return on Assets (OROA)
-12.95% -7.68% -13.69% -12.79% -10.47% -8.87% -12.48% -14.85% -13.33% -12.35% -15.58%
Return on Assets (ROA)
-13.16% -6.10% -14.09% -13.28% -10.96% -9.49% -12.87% -15.14% -13.56% -11.56% -15.98%
Return on Common Equity (ROCE)
-29.17% -14.92% -28.48% -23.83% -18.18% -14.96% -20.38% 0.00% 0.00% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)
-39.84% 0.00% -36.19% -32.81% -32.29% 0.00% -35.52% -37.37% -35.14% 0.00% -33.57%
Net Operating Profit after Tax (NOPAT)
-43 -26 -46 -39 -32 -28 -42 -46 -45 -48 -62
NOPAT Margin
-28.43% -17.78% -33.72% -31.61% -26.57% -24.00% -36.44% -44.10% -47.57% -53.93% -84.28%
Net Nonoperating Expense Percent (NNEP)
29.83% 7.20% 57.63% 84.87% 110.67% 197.05% 513.77% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
43.12% 46.71% 53.66% 47.54% 43.07% 39.48% 40.35% 46.75% 52.52% 57.35% 77.30%
Operating Expenses to Revenue
140.61% 125.40% 148.17% 145.16% 137.95% 134.29% 152.05% 163.00% 167.96% 177.04% 220.41%
Earnings before Interest and Taxes (EBIT)
-61 -38 -66 -55 -45 -40 -60 -66 -65 -68 -89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-58 -35 -62 -51 -42 -36 -56 -61 -59 -62 -84
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
4.20 4.41 1.98 1.83 1.70 1.59 1.11 1.52 1.20 1.09 1.61
Price to Tangible Book Value (P/TBV)
4.44 4.67 2.10 1.95 1.81 1.69 1.19 1.62 1.28 1.16 1.70
Price to Revenue (P/Rev)
4.10 4.97 2.37 2.47 2.54 2.62 2.01 3.23 3.21 3.69 6.98
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
3.17 3.38 1.32 1.20 1.24 1.14 0.69 1.17 0.89 0.65 1.36
Enterprise Value to Revenue (EV/Rev)
3.67 4.35 1.76 1.73 1.93 1.92 1.26 2.50 2.38 2.18 5.90
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.19 0.14 0.11 0.07 0.04 0.02 0.01 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage
0.11 0.08 0.06 0.03 0.02 0.01 0.00 0.00 0.00 0.00 0.00
Leverage Ratio
2.87 2.67 2.63 2.37 2.19 2.11 2.06 1.90 1.81 1.73 1.65
Compound Leverage Factor
2.87 2.67 2.63 2.37 2.19 2.11 2.06 1.90 1.81 1.73 1.65
Debt to Total Capital
15.74% 12.32% 10.21% 6.46% 4.02% 2.06% 1.05% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
15.74% 12.32% 10.21% 6.46% 4.02% 2.06% 1.05% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
84.26% 87.68% 89.79% 93.54% 95.98% 97.94% 98.95% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA
-0.49 -0.44 -0.35 -0.24 -0.15 -0.07 -0.03 0.00 0.00 0.00 0.00
Net Debt to EBITDA
1.15 1.74 1.58 1.89 1.43 1.42 1.28 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
-0.66 -0.58 -0.47 -0.31 -0.19 -0.09 -0.04 0.00 0.00 0.00 0.00
Net Debt to NOPAT
1.55 2.31 2.09 2.50 1.90 1.88 1.68 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
14 21 28 53 85 115 130 32 46 74 79
Operating Cash Flow to CapEx
-2,052.17% 431.25% 740.91% -780.00% -1,192.00% -670.83% -286.36% -2,647.37% -1,718.52% -1,100.00% -1,886.21%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.32 0.30 0.28 0.28 0.28 0.26 0.24 0.24 0.20 0.16 0.13
Fixed Asset Turnover
33.45 31.43 29.53 26.69 24.52 23.23 22.07 22.50 18.76 16.40 14.00
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
647 677 660 679 705 724 735 771 822 867 907
Invested Capital Turnover
0.83 0.75 0.71 0.65 0.59 0.54 0.49 0.45 0.35 0.28 0.21
Increase / (Decrease) in Invested Capital
-57 -47 -74 -92 -117 -143 -172 -78 -91 -121 -141
Enterprise Value (EV)
2,050 2,289 870 813 873 825 506 906 733 560 1,235
Market Capitalization
2,289 2,619 1,171 1,163 1,152 1,128 810 1,171 988 946 1,460
Book Value per Share
$7.49 $8.31 $8.35 $9.01 $9.63 $10.14 $10.43 $11.10 $11.86 $12.53 $13.15
Tangible Book Value per Share
$7.08 $7.85 $7.86 $8.48 $9.07 $9.54 $9.80 $10.43 $11.15 $11.79 $12.48
Total Capital
647 677 660 679 705 724 735 771 822 867 907
Total Debt
102 83 67 44 28 15 7.70 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
-238 -330 -302 -350 -279 -302 -304 -265 -255 -386 -225
Capital Expenditures (CapEx)
2.30 3.20 2.20 1.50 2.50 2.40 2.20 1.90 2.70 2.60 2.90
Net Nonoperating Expense (NNE)
19 3.54 22 19 16 15 20 21 21 16 29
Net Nonoperating Obligations (NNO)
102 83 67 44 28 15 7.70 0.00 0.00 0.00 0.00
Total Depreciation and Amortization (D&A)
3.00 3.10 3.40 3.70 3.70 3.50 3.70 4.90 5.30 6.20 5.00
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.86) ($0.42) ($0.95) ($0.81) ($0.67) ($0.60) ($0.88) ($0.97) ($0.95) ($0.91) ($1.37)
Adjusted Weighted Average Basic Shares Outstanding
72.92M 71.02M 71.14M 70.72M 70.28M 69.66M 69.75M 69.53M 69.33M 64.92M 66.88M
Adjusted Diluted Earnings per Share
($0.86) ($0.42) ($0.95) ($0.81) ($0.67) ($0.60) ($0.88) ($0.97) ($0.95) ($0.91) ($1.37)
Adjusted Weighted Average Diluted Shares Outstanding
72.92M 71.02M 71.14M 70.72M 70.28M 69.66M 69.75M 69.53M 69.33M 64.92M 66.88M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
73.27M 72.82M 71.40M 71.03M 70.50M 70.22M 69.92M 69.69M 69.49M 69.30M 69.16M
Normalized Net Operating Profit after Tax (NOPAT)
-43 -26 -46 -39 -32 -28 -42 -46 -45 -48 -62
Normalized NOPAT Margin
-28.43% -17.78% -33.72% -31.61% -26.57% -24.00% -36.44% -44.10% -47.57% -53.93% -84.28%
Pre Tax Income Margin
-40.61% -25.40% -48.17% -45.16% -37.95% -34.29% -52.05% -63.00% -67.96% -77.04% -120.41%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About Lemonade's Financials

When does Lemonade's fiscal year end?

According to the most recent income statement we have on file, Lemonade's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Lemonade's net income changed over the last 6 years?

Lemonade's net income appears to be on an upward trend, with a most recent value of -$202.20 million in 2024, rising from -$52.90 million in 2018. The previous period was -$236.90 million in 2023. View Lemonade's forecast to see where analysts expect Lemonade to go next.

How has Lemonade revenue changed over the last 6 years?

Over the last 6 years, Lemonade's total revenue changed from $22.50 million in 2018 to $526.50 million in 2024, a change of 2,240.0%.

How much debt does Lemonade have?

Lemonade's total liabilities were at $1.26 billion at the end of 2024, a 35.8% increase from 2023, and a 976.9% increase since 2019.

How much cash does Lemonade have?

In the past 5 years, Lemonade's cash and equivalents has ranged from $270.30 million in 2019 to $571.40 million in 2020, and is currently $385.70 million as of their latest financial filing in 2024.

How has Lemonade's book value per share changed over the last 6 years?

Over the last 6 years, Lemonade's book value per share changed from 0.00 in 2018 to 8.31 in 2024, a change of 831.0%.



This page (NYSE:LMND) was last updated on 5/28/2025 by MarketBeat.com Staff
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