Lemonade Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	536.3	370.6	315.2	172.4	77
Total Interest & Dividend Income	37.8	34	24.7	8.4	1.9
Other Revenue	163.8	121.9	89.9	75.9	49.5
Total Revenue	737.9	526.5	429.8	256.7	128.4
Revenue Growth (YoY)	40.15%	22.50%	67.43%	99.92%	36.02%
Policy Benefits	347	277	280.4	167.3	71.9
Selling, General & Administrative	468.6	384.5	315	319.2	247.5
Total Operating Expenses	874.6	723.9	652.5	543.1	362
Operating Income	-136.7	-197.4	-222.7	-286.4	-233.6
Interest Expense	-17.3	-6.2	-0.4	-	-
EBT Excluding Unusual Items	-154	-203.6	-223.1	-286.4	-233.6
Merger & Restructuring Charges	-	-	-	-8.4	-
Asset Writedown	-	-0.3	-3.7	-	-
Legal Settlements	-	-	-3	-	-
Other Unusual Items	-6.9	-	-	-	-
Pretax Income	-160.9	-203.9	-229.8	-294.8	-233.6
Income Tax Expense	4.6	-1.7	7.1	3	7.7
Net Income	-165.5	-202.2	-236.9	-297.8	-241.3
Net Income to Common	-165.5	-202.2	-236.9	-297.8	-241.3
Shares Outstanding (Basic)	74	71	70	65	61
Shares Outstanding (Diluted)	74	71	70	65	61
Shares Change (YoY)	4.11%	1.96%	7.30%	6.04%	81.92%
EPS (Basic)	-2.24	-2.85	-3.40	-4.59	-3.94
EPS (Diluted)	-2.24	-2.85	-3.40	-4.59	-3.94
Free Cash Flow	-25.9	-20.8	-128.3	-173.1	-154
Free Cash Flow Per Share	-0.35	-0.29	-1.84	-2.67	-2.52
Operating Margin	-18.53%	-37.49%	-51.81%	-111.57%	-181.93%
Profit Margin	-22.43%	-38.41%	-55.12%	-116.01%	-187.93%
Free Cash Flow Margin	-3.51%	-3.95%	-29.85%	-67.43%	-119.94%
EBITDA	-121.5	-177.4	-202.7	-274.2	-229.9
EBITDA Margin	-16.47%	-33.69%	-47.16%	-106.82%	-179.05%
D&A For EBITDA	15.2	20	20	12.2	3.7
EBIT	-136.7	-197.4	-222.7	-286.4	-233.6
EBIT Margin	-18.52%	-37.49%	-51.81%	-111.57%	-181.93%
Revenue as Reported	737.9	526.5	429.8	256.7	128.4

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.