Lemonade, Inc. (BMV:LMND)

Lemonade Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-217.3	-202.2	-236.9	-297.8	-241.3	-122.3
Depreciation & Amortization	19.5	20	20	12.2	3.7	1.7
Gain (Loss) on Sale of Investments	-6.3	-6.1	-2.6	6.7	-4.2	-0.3
Stock-Based Compensation	59.9	64.5	59.9	59.3	44.1	10.6
Change in Accounts Receivable	-93	-90.2	-50.5	-43.8	-47.2	-34.2
Reinsurance Recoverable	-12.2	-32	18.4	-52.6	-40.8	-28.7
Change in Accounts Payable	2.8	3.9	-0.5	-0.7	-0.4	0.7
Change in Unearned Revenue	119.6	125.5	67.4	68.3	98	78.2
Change in Insurance Reserves / Liabilities	43.3	35.8	6.1	74	51.6	18.1
Change in Other Net Operating Assets	-48.4	-29.9	-7.9	-17	-58.3	-99.4
Other Operating Activities	-	-	-	-	-	12.2
Operating Cash Flow	-28.8	-11.4	-119.1	-163	-144.6	-91.7
Capital Expenditures	-9.2	-9.4	-9.2	-10.1	-9.4	-4.4
Cash Acquisitions	-	-	-	98.8	-	-
Investment in Securities	-21.4	50	97.9	92.4	-795.4	54.5
Investing Cash Flow	-30.6	40.6	88.7	181.1	-804.8	50.1
Long-Term Debt Issued	-	96.1	19.1	-	-	-
Total Debt Repaid	-35.1	-27.7	-4.2	-	-	-
Net Debt Issued (Repaid)	73.5	68.4	14.9	-	-	-
Issuance of Common Stock	20.7	19.3	0.5	3.6	649.6	341.1
Financing Cash Flow	94.2	87.7	15.4	3.6	649.6	341.1
Foreign Exchange Rate Adjustments	-0.3	-2.7	-	-5.8	-1	1.6
Net Cash Flow	34.5	114.2	-15	15.9	-300.8	301.1
Free Cash Flow	-38	-20.8	-128.3	-173.1	-154	-96.1
Free Cash Flow Margin	-6.80%	-3.95%	-29.85%	-67.43%	-119.94%	-101.80%
Free Cash Flow Per Share	-0.53	-0.29	-1.84	-2.67	-2.52	-2.85
Cash Interest Paid	7.6	5	0.3	-	-	-
Cash Income Tax Paid	2.5	2.5	0.7	3.4	3.2	1.6
Levered Free Cash Flow	11.84	52.76	193.66	-142.4	-210.5	-24.2
Unlevered Free Cash Flow	17.4	56.64	193.91	-142.4	-210.5	-24.2
Change in Net Working Capital	-79.2	-105.1	-262.4	24.8	102.9	-43.4

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