LMND
Lemonade, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Lemonade, Inc.
Lemonade, Inc. is a licensed insurance carrier that uses digital distribution and automation to underwrite and service renters, homeowners, auto, pet, and life insurance. Customers buy policies through a mobile app and website; claims are handled with a mix of software and human adjusters. The company retains risk and also uses reinsurance.
Coverage
Lemonade Added Florida and Missouri. An Infinite Car Market Is Worth 38 Cents to Our Model.
Lemonade Car launched in Florida on 26 August and Missouri on 2 September. An unlimited market adds 38 cents to our fair value; the add rate adds dollars.
Lemonade Q2 2026: The Numbers Were Fine. A CFO Transition Wasn't — Stock Down 24%
Lemonade beat on revenue and held its Q4 2026 profitability target, but shares cratered nearly 24% after a same-day announcement that longtime CFO Tim Bixby is moving to the board. We separate the real news from the panic.
Lemonade Q4 2025 Earnings Preview: AI Insurance Has a Profitability Problem
Lemonade reports Q4 on February 19. Loss ratios are falling, revenue is surging 42%, and the stock is still down 31%. Here's what to watch.
Where the revenue goes next
Latest: $294M (2026Q2)
| Period | Value |
|---|---|
| 2020Q4 | $20M |
| 2021Q1 | $24M |
| 2021Q2 | $28M |
| 2021Q3 | $36M |
| 2021Q4 | $41M |
| 2022Q1 | $44M |
| 2022Q2 | $50M |
| 2022Q3 | $74M |
| 2022Q4 | $88M |
| 2023Q1 | $95M |
| 2023Q2 | $105M |
| 2023Q3 | $115M |
| 2023Q4 | $115M |
| 2024Q1 | $119M |
| 2024Q2 | $122M |
| 2024Q3 | $137M |
| 2024Q4 | $149M |
| 2025Q1 | $151M |
| 2025Q2 | $164M |
| 2025Q3 | $194M |
| 2025Q4 | $228M |
| 2026Q1 | $258M |
| 2026Q2 | $294M |
Latest: −$0.56 (2026Q2)
| Period | Value |
|---|---|
| 2020Q4 | −$0.60 |
| 2021Q1 | −$0.81 |
| 2021Q2 | −$0.90 |
| 2021Q3 | −$1.08 |
| 2021Q4 | −$1.14 |
| 2022Q1 | −$1.21 |
| 2022Q2 | −$1.10 |
| 2022Q3 | −$1.37 |
| 2022Q4 | −$0.92 |
| 2023Q1 | −$0.95 |
| 2023Q2 | −$0.97 |
| 2023Q3 | −$0.88 |
| 2023Q4 | −$0.61 |
| 2024Q1 | −$0.67 |
| 2024Q2 | −$0.81 |
| 2024Q3 | −$0.95 |
| 2024Q4 | −$0.42 |
| 2025Q1 | −$0.86 |
| 2025Q2 | −$0.60 |
| 2025Q3 | −$0.51 |
| 2025Q4 | −$0.29 |
| 2026Q1 | −$0.47 |
| 2026Q2 | −$0.56 |
Latest: n/m (2026Q2)
| Period | Value |
|---|---|
| 2021Q3 | n/m |
| 2021Q4 | n/m |
| 2022Q1 | n/m |
| 2022Q2 | n/m |
| 2022Q3 | n/m |
| 2022Q4 | n/m |
| 2023Q1 | n/m |
| 2023Q2 | n/m |
| 2023Q3 | n/m |
| 2023Q4 | n/m |
| 2024Q1 | n/m |
| 2024Q2 | n/m |
| 2024Q3 | n/m |
| 2024Q4 | n/m |
| 2025Q1 | n/m |
| 2025Q2 | n/m |
| 2025Q3 | n/m |
| 2025Q4 | n/m |
| 2026Q1 | n/m |
| 2026Q2 | n/m |
Latest: −$8M (2026Q2)
| Period | Value |
|---|---|
| 2021Q1 | −$42M |
| 2021Q2 | −$19M |
| 2021Q3 | −$41M |
| 2021Q4 | −$52M |
| 2022Q1 | −$42M |
| 2022Q2 | −$42M |
| 2022Q3 | −$58M |
| 2022Q4 | −$31M |
| 2023Q1 | −$49M |
| 2023Q2 | −$52M |
| 2023Q3 | −$8M |
| 2023Q4 | −$18M |
| 2024Q1 | −$32M |
| 2024Q2 | −$13M |
| 2024Q3 | $14M |
| 2024Q4 | $11M |
| 2025Q1 | −$50M |
| 2025Q2 | $3M |
| 2025Q3 | $3M |
| 2025Q4 | $18M |
| 2026Q1 | −$4M |
| 2026Q2 | −$8M |
Latest: 77M (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | 54M |
| 2020Q4 | 57M |
| 2021Q1 | 60M |
| 2021Q2 | 61M |
| 2021Q3 | 62M |
| 2021Q4 | 62M |
| 2022Q1 | 62M |
| 2022Q2 | 62M |
| 2022Q3 | 67M |
| 2022Q4 | 69M |
| 2023Q1 | 69M |
| 2023Q2 | 70M |
| 2023Q3 | 70M |
| 2023Q4 | 70M |
| 2024Q1 | 70M |
| 2024Q2 | 71M |
| 2024Q3 | 71M |
| 2024Q4 | 71M |
| 2025Q1 | 73M |
| 2025Q2 | 73M |
| 2025Q3 | 74M |
| 2025Q4 | 75M |
| 2026Q1 | 76M |
| 2026Q2 | 77M |
Latest: −$514M (2026Q2)
| Period | Value |
|---|---|
| 2021Q1 | −$42M |
| 2021Q2 | −$61M |
| 2021Q3 | −$102M |
| 2021Q4 | −$154M |
| 2022Q1 | −$196M |
| 2022Q2 | −$238M |
| 2022Q3 | −$296M |
| 2022Q4 | −$327M |
| 2023Q1 | −$376M |
| 2023Q2 | −$428M |
| 2023Q3 | −$437M |
| 2023Q4 | −$455M |
| 2024Q1 | −$488M |
| 2024Q2 | −$501M |
| 2024Q3 | −$487M |
| 2024Q4 | −$476M |
| 2025Q1 | −$526M |
| 2025Q2 | −$522M |
| 2025Q3 | −$520M |
| 2025Q4 | −$502M |
| 2026Q1 | −$506M |
| 2026Q2 | −$514M |
Latest earnings
Company History
Founded in April by Daniel Schreiber and Shai Wininger in New York City.
Secured $13 million in seed funding from Sequoia Capital and Aleph in December.
Raised $13 million from XL Innovate in August, followed by $34 million Series B led by General Catalyst in December.
Allianz and Ashton Kutcher\
Raised $300 million in Series D financing led by SoftBank Group.
Began offering insurance in France in December and won trademark dispute with T-Mobile over pink color.
Launched in Netherlands in April; went public on NYSE under ticker LMND on July 1.
Announced full acquisition of Metromile in November, completed July 29, 2022.
Partnered with Tesla to launch Lemonade Autonomous Car Insurance for self-driving cars.
Key Players
The CEO view — 5 podcasts, interviews & articles →
