Lemonade Balance Sheet

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
Investments in Debt Securities	708.8	607.4	627.4	650.3	691.4
Other Investments	14.1	27.5	45.8	99.8	110.4
Total Investments	722.9	634.9	673.2	750.1	801.8
Cash & Equivalents	385	376	264.5	282.5	270.6
Reinsurance Recoverable	153.4	170.4	138.4	156.8	89.8
Other Receivables	421	315.5	250.1	209.3	144.9
Deferred Policy Acquisition Cost	12.1	12.2	8.8	6.9	6.2
Property, Plant & Equipment	35.6	31.3	34.8	46	33.6
Goodwill	19	19	19	19	-
Other Intangible Assets	6.4	11.9	21.2	32.2	0.6
Restricted Cash	11.8	9.7	7	4	-
Other Current Assets	156.7	263.6	209.4	178.5	160.2
Other Long-Term Assets	1.8	4.6	6.9	5.4	2.8
Total Assets	1,926	1,849	1,633	1,691	1,511
Accounts Payable	0.5	4.5	0.6	1.1	1
Accrued Expenses	68.3	47.3	27.5	33.3	27.2
Insurance & Annuity Liabilities	303.1	298.1	262.3	256.2	97.9
Unearned Premiums	619.8	527.6	412.4	329.8	246.2
Reinsurance Payable	195.9	246.2	152.8	154.4	121.8
Current Portion of Leases	7.2	-	-	-	-
Current Income Taxes Payable	0.6	1.5	1.2	0.6	4.7
Long-Term Debt	158.1	83.4	14.9	-	-
Long-Term Leases	16.8	23.8	28.2	35.2	22.3
Other Long-Term Liabilities	21.8	23.3	24.5	13.3	1.2
Total Liabilities	1,392	1,256	924.4	823.9	522.3
Additional Paid-In Capital	1,992	1,898	1,815	1,754	1,554
Retained Earnings	-1,464	-1,299	-1,097	-859.7	-561.9
Comprehensive Income & Other	6.4	-6.1	-9	-27.6	-3.4
Total Common Equity	533.6	593.4	708.9	866.8	988.2
Shareholders' Equity	533.6	593.4	708.9	866.8	988.2
Total Liabilities & Equity	1,926	1,849	1,633	1,691	1,511
Filing Date Shares Outstanding	76.38	72.82	70.22	69.3	61.69
Total Common Shares Outstanding	75.91	72.72	70.16	69.28	61.66
Total Debt	182.1	107.2	43.1	35.2	22.3
Net Cash (Debt)	202.9	268.8	221.4	247.3	248.3
Net Cash Growth	-24.52%	21.41%	-10.47%	-0.40%	-56.50%
Net Cash Per Share	2.74	3.78	3.18	3.81	4.06
Book Value Per Share	7.03	8.16	10.10	12.51	16.03
Tangible Book Value	508.2	562.5	668.7	815.6	987.6
Tangible Book Value Per Share	6.70	7.74	9.53	11.77	16.02
Machinery	50.8	41.4	32.8	24.4	13
Leasehold Improvements	13.1	13.1	13	13.4	4.6

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