← Lemonade, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Loss | ($52.9m) | ($108.5m) | ($122.3m) | ($241.3m) | ($297.8m) | ($236.9m) | ($202.2m) | ($165.5m) | — | |
| Depreciation and amortization | $100k | $600k | $1.7m | $3.7m | $12.2m | $20.0m | $20.0m | $15.2m | $11.1m | |
| Amortization of bond discount | — | — | — | — | — | ($2.6m) | ($6.1m) | ($5.8m) | — | |
| Stock-based compensation | $2.1m | $4.3m | $10.6m | $44.1m | $59.3m | $59.9m | $64.5m | $61.3m | $81.3m | |
| Asset impairment charge | — | — | — | $0 | $0 | $3.7m | $300k | $0 | $0 | |
| Trade payables | $200k | ($800k) | $700k | ($400k) | ($700k) | ($500k) | $3.9m | ($4.0m) | — | |
| Unearned premium | $21.4m | $40.3m | $55.8m | $83.9m | $65.1m | $65.7m | $101.3m | $122.0m | — | |
| Other liabilities and accrued expenses | $7.7m | $9.9m | $34.4m | $38.6m | $4.9m | $15.0m | $6.2m | $21.5m | — | |
| Other assets | ($400k) | ($1.1m) | ($12.0m) | ($38.6m) | ($7.0m) | $8.9m | $21.2m | ($8.2m) | — | |
| Net cash used in operating activities | ($40.8m) |
($78.1m)
-91.42%
|
($91.7m)
-17.41%
|
($144.6m)
-57.69%
|
($163.0m)
-12.72%
|
($119.1m)
+26.93%
|
($11.4m)
+90.43%
|
($16.5m)
-44.74%
|
$21.2m
+228.48%
|
|
| Purchases of property and equipment | ($700k) | ($2.7m) | ($4.4m) | ($9.4m) | ($10.1m) | ($9.2m) | ($9.4m) | ($9.4m) | ($13.1m) | |
| Proceeds from short-term investments sold or matured | $20.9m | $21.0m | $70.0m | $20.2m | $224.5m | $143.5m | $77.5m | $41.6m | — | |
| Cost of short-term investments acquired | ($13.8m) | ($69.2m) | ($14.9m) | ($130.8m) | ($136.7m) | ($71.5m) | ($58.1m) | ($27.7m) | — | |
| Net cash (used in) provided by investing activities | $6.4m | ($54.0m) | $50.1m | ($804.8m) | $181.1m | $88.7m | $40.6m | ($89.1m) | — | |
| Provision for bad debt | $0 | $900k | $2.2m | $6.2m | $8.7m | $8.1m | $11.0m | $22.1m | — | |
| Proceeds from borrowings under financing agreement | — | — | — | $0 | $0 | $19.1m | $96.1m | $133.0m | — | |
| Payment on borrowings under financing agreement | — | — | — | $0 | $0 | ($4.2m) | ($27.7m) | ($58.3m) | — | |
| Cash paid for interest expense on borrowings under financing agreement | — | — | — | $0 | $0 | $300k | $5.0m | $16.3m | — | |
| Net cash provided by financing activities | $119.9m |
$300.1m
+150.29%
|
$341.1m
+13.66%
|
$649.6m
+90.44%
|
$3.6m
-99.45%
|
$15.4m
+327.78%
|
$87.7m
+469.48%
|
$106.6m
+21.55%
|
$116.9m
+9.66%
|
|
| Net increase (decrease) in cash, cash equivalents and restricted cash | $85.5m | $167.9m | $301.1m | ($300.8m) | $15.9m | ($15.0m) | $114.2m | $11.1m | — | |
| Cash, cash equivalents and restricted cash at beginning of year | $102.4m | $270.3m | $571.4m | $270.6m | $286.5m | $271.5m | $385.7m | $396.8m | — | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $0 | ($100k) | $1.6m | ($1.0m) | ($5.8m) | $0 | ($2.7m) | $10.1m | $1.3m | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Gain on early lease termination | — | — | — | — | — | $0 | $0 | ($2.3m) | — | |
| Premium receivable | ($20.0m) | ($29.1m) | ($34.2m) | ($47.2m) | ($43.8m) | ($50.5m) | ($90.2m) | ($123.2m) | — | |
| Reinsurance recoverable | ($8.9m) | ($8.5m) | ($28.7m) | ($40.8m) | ($52.6m) | $18.4m | ($32.0m) | $17.0m | — | |
| Prepaid reinsurance premium | ($800k) | $500k | ($90.3m) | ($58.3m) | ($14.9m) | ($31.8m) | ($57.3m) | $105.7m | — | |
| Deferred acquisition costs | ($500k) | ($1.2m) | ($1.7m) | ($2.7m) | ($800k) | ($1.9m) | ($3.4m) | $100k | — | |
| Unpaid losses and loss adjustment expenses | $11.0m | $15.1m | $18.1m | $51.6m | $74.0m | $6.1m | $35.8m | $5.0m | — | |
| Funds held for reinsurance treaties | $0 | $0 | $62.1m | $41.0m | $32.9m | ($7.2m) | $90.8m | ($50.1m) | — | |
| Deferred ceding commission | — | $0 | $22.4m | $14.1m | $3.2m | $1.7m | $24.2m | ($27.4m) | — | |
| Ceded premium payable | — | $0 | $9.1m | $5.7m | ($12.4m) | $4.8m | $600k | $100k | — | |
| Proceeds from bonds sold or matured | $0 | $1.0m | $2.3m | $27.2m | $138.0m | $349.6m | $336.3m | $383.1m | — | |
| Cost of bonds acquired | $0 | ($3.5m) | ($2.9m) | ($712.0m) | ($133.4m) | ($323.7m) | ($305.7m) | ($476.7m) | — | |
| Proceeds from stock exercises | $100k | $700k | $1.8m | $9.3m | $3.6m | $500k | $19.3m | $31.9m | — | |
| Cash paid for income taxes | $200k | $500k | $1.6m | $3.2m | $3.4m | $700k | $2.5m | $2.5m | — | |
| Right-of-use assets derecognized due to lease modification | — | — | — | — | — | $0 | $0 | $3.1m | — |