Lemonade Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Premiums & Annuity Revenue	458	370.6	315.2	172.4	77	77.3
Total Interest & Dividend Income	38	34	24.7	8.4	1.9	1.5
Other Revenue	162.3	121.9	89.9	75.9	49.5	15.6
Total Revenue	658.3	526.5	429.8	256.7	128.4	94.4
Revenue Growth (YoY)	33.66%	22.50%	67.43%	99.92%	36.02%	40.27%
Policy Benefits	315.2	277	280.4	167.3	71.9	54.7
Selling, General & Administrative	449.3	384.8	315	319.2	247.5	150.3
Total Operating Expenses	822.3	724.2	652.5	543.1	362	215.2
Operating Income	-164	-197.7	-222.7	-286.4	-233.6	-120.8
Interest Expense	-14.7	-6.2	-0.4	-	-	-
EBT Excluding Unusual Items	-178.7	-203.9	-223.1	-286.4	-233.6	-120.8
Merger & Restructuring Charges	-	-	-	-8.4	-	-
Asset Writedown	0.3	-	-3.7	-	-	-
Legal Settlements	-	-	-3	-	-	-
Pretax Income	-178.1	-203.9	-229.8	-294.8	-233.6	-120.8
Income Tax Expense	-4.3	-1.7	7.1	3	7.7	1.5
Net Income	-173.8	-202.2	-236.9	-297.8	-241.3	-122.3
Net Income to Common	-173.8	-202.2	-236.9	-297.8	-241.3	-122.3
Shares Outstanding (Basic)	73	71	70	65	61	34
Shares Outstanding (Diluted)	73	71	70	65	61	34
Shares Change (YoY)	3.67%	1.96%	7.30%	6.04%	81.92%	202.53%
EPS (Basic)	-2.38	-2.85	-3.40	-4.59	-3.94	-3.63
EPS (Diluted)	-2.38	-2.85	-3.40	-4.59	-3.94	-3.63
Free Cash Flow	-32.9	-20.8	-128.3	-173.1	-154	-96.1
Free Cash Flow Per Share	-0.45	-0.29	-1.84	-2.67	-2.52	-2.85
Operating Margin	-24.91%	-37.55%	-51.81%	-111.57%	-181.93%	-127.97%
Profit Margin	-26.40%	-38.41%	-55.12%	-116.01%	-187.93%	-129.56%
Free Cash Flow Margin	-5.00%	-3.95%	-29.85%	-67.43%	-119.94%	-101.80%
EBITDA	-146.7	-177.7	-202.7	-274.2	-229.9	-119.1
EBITDA Margin	-22.29%	-33.75%	-47.16%	-106.82%	-179.05%	-126.16%
D&A For EBITDA	17.3	20	20	12.2	3.7	1.7
EBIT	-164	-197.7	-222.7	-286.4	-233.6	-120.8
EBIT Margin	-24.91%	-37.55%	-51.81%	-111.57%	-181.93%	-127.97%
Revenue as Reported	658.6	526.5	429.8	256.7	128.4	94.4

Updated Nov 5, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

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