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	396.8	376	264.5	282.5	270.6
Reinsurance Recoverable	153.4	170.4	138.4	156.8	89.8
Other Receivables	402.3	311.7	250.1	209.3	144.9
Deferred Policy Acquisition Cost	12.1	12.2	8.8	6.9	6.2
Property, Plant & Equipment	15.8	31.3	34.8	46	33.6
Goodwill	19	19	19	19	-
Other Intangible Assets	8.1	11.9	21.2	32.2	0.6
Restricted Cash	-	9.7	7	4	-
Other Current Assets	147.9	263.6	209.4	178.5	160.2
Other Long-Term Assets	47.4	8.4	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	-	46	27.5	33.3	27.2
Insurance & Annuity Liabilities	303.1	298.1	262.3	256.2	97.9
Unearned Premiums	615.2	527.6	412.4	329.8	246.2
Reinsurance Payable	193.4	246.2	152.8	154.4	121.8
Current Portion of Leases	-	9	-	-	-
Current Income Taxes Payable	-	1.5	1.2	0.6	4.7
Long-Term Debt	158.1	83.4	14.9	-	-
Long-Term Leases	-	14.8	28.2	35.2	22.3
Other Long-Term Liabilities	121.8	24.6	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	75.91	72.82	70.22	69.3	61.69
Total Common Shares Outstanding	75.91	72.72	70.16	69.28	61.66
Total Debt	158.1	107.2	43.1	35.2	22.3
Net Cash (Debt)	238.7	268.8	221.4	247.3	248.3
Net Cash Growth	-11.20%	21.41%	-10.47%	-0.40%	-56.50%
Net Cash Per Share	3.23	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	506.5	562.5	668.7	815.6	987.6
Tangible Book Value Per Share	6.67	7.74	9.53	11.77	16.02
Machinery	-	41.4	32.8	24.4	13
Leasehold Improvements	-	13.1	13	13.4	4.6

Updated Feb 19, 2026. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q