← Lemonade, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Short-term investments (cost: $14.1 million and $27.5 million as of December 31, 2025 and 2024, respectively) | $54.7m | $0 | $110.4m | $99.8m | $45.8m | $27.5m | $14.1m | |
| Cash, cash equivalents and restricted cash | $270.3m | $571.4m | $270.6m | $286.5m | $271.5m | $385.7m | $396.8m | |
| Premium receivable, net of allowance for credit losses of $4.1 million and $2.8 million as of December 31, 2025 and 2024, respectively | $54.1m | $86.1m | $127.0m | $179.6m | $222.0m | $301.2m | $402.3m | |
| Prepaid reinsurance premium | $1.0m | $91.3m | $149.6m | $164.5m | $196.3m | $253.6m | $147.9m | |
| Property and equipment, net | $3.1m | $5.7m | $11.7m | $19.6m | $17.4m | $16.1m | $15.8m | |
| Intangible assets | $600k | $600k | $600k | $32.5m | $22.9m | $13.6m | $8.1m | |
| Goodwill | — | — | $0 | $19.0m | $19.0m | $19.0m | $19.0m | |
| Other assets | $2.5m | $14.5m | $53.2m | $75.2m | $63.8m | $42.4m | $47.4m | |
| Fixed maturities available-for-sale, at fair value (amortized cost: $706.0 million and $607.1 million as of December 31, 2025 and 2024, respectively) | $5.9m | $6.6m | $691.4m | $650.3m | $627.4m | $607.4m | $708.8m | |
| Reinsurance recoverable | $20.3m | $49.0m | $89.8m | $156.8m | $138.4m | $170.4m | $153.4m | |
| Deferred acquisition costs | $1.8m | $3.5m | $6.2m | $6.9m | $8.8m | $12.2m | $12.1m | |
| Unpaid losses and loss adjustment expenses | $28.2m | $46.3m | $97.9m | $256.2m | $262.3m | $298.1m | $303.1m | |
| Unearned premium | $68.0m | $123.8m | $207.7m | $288.0m | $353.7m | $455.0m | $577.0m | |
| Trade payables | $700k | $1.4m | $1.0m | $1.1m | $600k | $4.5m | $500k | |
| Funds held for reinsurance treaties | $0 | $62.1m | $103.1m | $136.0m | $128.8m | $219.6m | $169.5m | |
| Deferred ceding commission | — | $22.4m | $36.5m | $39.7m | $41.4m | $65.6m | $38.2m | |
| Ceded premium payable | — | $13.0m | $18.7m | $18.4m | $23.2m | $23.8m | $23.9m | |
| Borrowings under financing agreement | — | — | — | $0 | $14.9m | $83.4m | $158.1m | |
| Total investments | $60.6m | $6.6m | $801.8m | $750.1m | $673.2m | $634.9m | $722.9m | |
| Total assets | $414.3m | $828.7m | $1.5b | $1.7b | $1.6b | $1.8b | $1.9b | |
| Total liabilities and stockholders' equity | $414.3m | $828.7m | $1.5b | $1.7b | $1.6b | $1.8b | $1.9b | |
| Other liabilities and accrued expenses | $19.7m | $54.1m | $57.4m | $84.5m | $99.5m | $105.7m | $121.8m | |
| Total liabilities | $116.6m | $287.7m | $522.3m | $823.9m | $924.4m | $1.3b | $1.4b | |
| Common stock, $0.00001 par value, 200,000,000 shares authorized as of December 31, 2025 and 2024; 75,907,215 shares and 72,720,866 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | $15.7m | $859.8m | $1.6b | $1.8b | $1.8b | $1.9b | $2.0b | |
| Accumulated deficit | ($198.3m) | ($320.6m) | ($561.9m) | ($859.7m) | ($1.1b) | ($1.3b) | ($1.5b) | |
| Accumulated other comprehensive income (loss) | $100k | $1.8m | ($3.4m) | ($27.6m) | ($9.0m) | ($6.1m) | $6.4m | |
| Total stockholders' equity | ($182.5m) | $541.0m | $988.2m | $866.8m | $708.9m | $593.4m | $533.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.