Lemonade, Inc. (LMND)

Lemonade Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-165.5	-202.2	-236.9	-297.8	-241.3
Depreciation & Amortization	15.2	20	20	12.2	3.7
Stock-Based Compensation	61.3	64.5	59.9	59.3	44.1
Other Adjustments	14	5.2	9.2	15.4	2
Changes in Receivables	-123.2	-90.2	-50.5	-43.8	-47.2
Changes in Reinsurance Contract Assets	122.7	-89.3	-13.4	-67.5	-99.1
Changes in Deferred Acquisition Costs	0.1	-3.4	-1.9	-0.8	-2.7
Changes in Accounts Payable	-3.9	4.5	4.3	-13.1	5.3
Changes in Accrued Expenses	21.5	6.2	15	4.9	38.6
Changes in Unearned Premiums	122	101.3	65.7	65.1	83.9
Changes in Claims Reserves	5	35.8	6.1	74	51.6
Changes in Other Operating Activities	-85.7	136.2	3.4	29.1	16.5
Operating Cash Flow	-16.5	-11.4	-119.1	-163	-144.6
Capital Expenditures	-9.4	-9.4	-9.2	-10.1	-9.4
Purchases of Investments	-504.4	-363.8	-395.2	-270.1	-842.8
Proceeds from Sale of Investments	424.7	413.8	493.1	362.5	47.4
Payments for Business Acquisitions	-	-	-	98.8	-
Investing Cash Flow	-89.1	40.6	88.7	181.1	-804.8
Long-Term Debt Issued	133	96.1	19.1	-	-
Long-Term Debt Repaid	-58.3	-27.7	-4.2	-	-
Net Long-Term Debt Issued (Repaid)	74.7	68.4	14.9	-	-
Issuance of Common Stock	31.9	19.3	0.5	3.6	649.6
Net Common Stock Issued (Repurchased)	31.9	19.3	0.5	3.6	649.6
Financing Cash Flow	106.6	87.7	15.4	3.6	649.6
Effect of Exchange Rate Changes on Cash and Cash Equivalents	10.1	-2.7	-	-5.8	-1
Net Cash Flow	11.1	114.2	-15	15.9	-300.8
Free Cash Flow	-25.9	-20.8	-128.3	-173.1	-154
FCF Margin	-3.51%	-3.95%	-29.85%	-67.43%	-119.94%
Free Cash Flow Per Share	-0.35	-0.29	-1.84	-2.67	-2.52
Levered Free Cash Flow	91.7	32.3	-138.1	-278	-204.5
Unlevered Free Cash Flow	17	-36.1	-153	-278	-204.5

Updated Feb 19, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q