← Lemonade, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.5m |
$67.3m
+199.11%
|
$94.4m
+40.27%
|
$128.4m
+36.02%
|
$256.7m
+99.92%
|
$429.8m
+67.43%
|
$526.5m
+22.50%
|
$737.9m
+40.15%
|
$975.0m
+32.13%
|
|
| Sales and marketing | $41.7m | $88.5m | $80.4m | $141.6m | $138.3m | $101.9m | $166.3m | $224.4m | — | |
| General and administrative | $9.3m | $21.5m | $46.3m | $72.6m | $122.3m | $129.3m | $124.5m | $139.8m | $168.1m | |
| Net investment income | $1.3m | $3.4m | $1.5m | $1.9m | $8.4m | $24.7m | $34.0m | $37.8m | $30.4m | |
| Commission and other income | $0 | $100k | $300k | $4.6m | $11.8m | $20.1m | $30.8m | $41.1m | — | |
| Loss before income taxes | ($52.6m) | ($107.9m) | ($120.8m) | ($233.6m) | ($294.8m) | ($229.8m) | ($203.9m) | ($160.9m) | — | |
| Income tax expense (benefit) | $300k | $600k | $1.5m | $7.7m | $3.0m | $7.1m | ($1.7m) | $4.6m | $5.1m | |
| Net loss | ($52.9m) | ($108.5m) | ($122.3m) | ($241.3m) | ($297.8m) | ($236.9m) | ($202.2m) | ($165.5m) | — | |
| Net loss per share attributable to common stockholders — basic (usd per share) | ($5) | ($10) | ($4) | ($4) | ($5) | ($3) | ($3) | ($2) | — | |
| Net loss per share attributable to common stockholders — diluted (usd per share) | ($5) | ($10) | ($4) | ($4) | ($5) | ($3) | ($3) | ($2) | — | |
| Weighted average common shares outstanding — basic (in shares) | — | 11.1m | 33.7m | 61.2m | 64.9m | 69.7m | 71.0m | 73.9m | — | |
| Weighted average common shares outstanding — diluted (in shares) | — | 11.1m | 33.7m | 61.2m | 64.9m | 69.7m | 71.0m | 73.9m | — | |
| Net earned premium | $21.2m | $63.8m | $77.3m | $77.0m | $172.4m | $315.2m | $370.6m | $536.3m | — | |
| Ceding commission income | $0 | $0 | $15.3m | $44.9m | $64.1m | $69.8m | $91.1m | $122.7m | — | |
| Loss and loss adjustment expense, net | $15.2m | $45.8m | $54.7m | $71.9m | $167.3m | $280.4m | $277.0m | $347.0m | — | |
| Other insurance expense | $4.2m | $9.6m | $14.4m | $24.1m | $44.0m | $59.2m | $76.8m | $93.7m | — | |
| Technology development | $4.7m | $9.8m | $19.4m | $51.8m | $79.6m | $88.8m | $85.8m | $93.9m | — | |
| Unrealized gain on investments in fixed maturities | $0 | $100k | $100k | ($5.7m) | ($18.4m) | $18.6m | $5.6m | $2.4m | — | |
| Foreign currency translation adjustment | $0 | $0 | $1.6m | $500k | ($5.8m) | $0 | ($2.7m) | $10.1m | — | |
| Comprehensive loss | ($52.9m) | ($108.4m) | ($120.6m) | ($246.5m) | ($322.0m) | ($218.3m) | ($199.3m) | ($153.0m) | — | |
| Total expense | $75.1m | $175.2m | $215.2m | $362.0m | $551.5m | $659.6m | $730.4m | $898.8m | — |