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LMND (Lemonade, Inc.) Stock Financials & Earnings | Market Cap Arena
LMND
Lemonade, Inc.
Mkt Cap
$4B
Financial Services
·
Insurance - Property & Casualty
·
🇺🇸 United States
·
NYSE
Revenue (TTM)
$738M
Net Income (TTM)
-$166M
EPS (TTM)
-$2.30
Free Cash Flow (TTM)
-$26M
Gross Margin
44.6%
Op. Margin
-21.8%
Net Margin
-22.4%
FCF Margin
-3.5%
P/S Ratio (TTM)
5.8x
P/E Ratio (TTM)
—
YoY Rev Growth
+40.2%
Employees
—
Earnings Reports
▶
Q4 2025
NEW
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$95M
$18M
-$65M
Q2 23
$105M
$14M
-$66M
Q3 23
$115M
$24M
-$60M
Q4 23
$116M
$57M
-$40M
Q1 24
$119M
$36M
-$45M
Q2 24
$122M
$33M
-$55M
Q3 24
$137M
$39M
-$66M
Q4 24
$149M
$96M
-$38M
Q1 25
$151M
$40M
-$61M
Q2 25
$164M
$65M
-$43M
Q3 25
$195M
$81M
-$36M
Q4 25
$228M
$144M
-$21M
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Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
13.9x
—
Q2 23
11.8x
—
Q3 23
10.6x
—
Q4 23
10.0x
—
Q1 24
9.4x
—
Q2 24
9.1x
—
Q3 24
8.7x
—
Q4 24
8.1x
—
Q1 25
7.7x
—
Q2 25
7.1x
—
Q3 25
6.5x
—
Q4 25
5.8x
—
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Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
-$46M
-$49M
Q2 23
-$50M
-$52M
Q3 23
-$6M
-$9M
Q4 23
-$16M
-$19M
Q1 24
-$30M
-$32M
Q2 24
-$12M
-$13M
Q3 24
$16M
$14M
Q4 24
$14M
$11M
Q1 25
-$47M
-$50M
Q2 25
$6M
$3M
Q3 25
$5M
$3M
Q4 25
$21M
$18M
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Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$3M
Q2 23
$2M
Q3 23
$2M
Q4 23
$2M
Q1 24
$3M
Q2 24
$2M
Q3 24
$2M
Q4 24
$3M
Q1 25
$2M
Q2 25
$2M
Q3 25
$2M
Q4 25
$3M
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OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+114.9%
+36.8%
Q2 23
+109.2%
+48.3%
Q3 23
+54.7%
+6.7%
Q4 23
+30.7%
-0.9%
Q1 24
+25.1%
+2.8%
Q2 24
+16.6%
+3.9%
Q3 24
+19.3%
+16.3%
Q4 24
+28.8%
+20.3%
Q1 25
+27.0%
+29.4%
Q2 25
+34.5%
+16.7%
Q3 25
+42.4%
+14.0%
Q4 25
+53.3%
+33.3%
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Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$15M
16.2%
Q2 23
$15M
14.1%
Q3 23
$15M
13.4%
Q4 23
$14M
12.4%
Q1 24
$15M
12.5%
Q2 24
$15M
12.6%
Q3 24
$17M
12.4%
Q4 24
$17M
11.6%
Q1 25
$10M
6.8%
Q2 25
$15M
9.4%
Q3 25
$17M
8.8%
Q4 25
$19M
8.1%
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OpEx Breakdown
G&A
S&M
Quarter
G&A
S&M
Q1 23
$33M
$28M
Q2 23
$31M
$25M
Q3 23
$37M
$24M
Q4 23
$29M
$25M
Q1 24
$30M
$30M
Q2 24
$30M
$37M
Q3 24
$31M
$51M
Q4 24
$34M
$48M
Q1 25
$36M
$43M
Q2 25
$26M
$60M
Q3 25
$35M
$57M
Q4 25
$43M
$64M
marketcaparena.com
Revenue Segments
Reportable Segment
Quarter
Reportable Segment
Q1 25
$151M
Q2 25
$164M
Q3 25
$195M
Q4 25
$228M
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War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$250M
$738M
$988M
Q2 23
$189M
$372M
$560M
Q3 23
$232M
$326M
$558M
Q4 23
$265M
$673M
$938M
Q1 24
$279M
$642M
$921M
Q2 24
$343M
$581M
$924M
Q3 24
$330M
$256M
$585M
Q4 24
$376M
$635M
$1.0B
Q1 25
$309M
$331M
$640M
Q2 25
$378M
$293M
$670M
Q3 25
$346M
$241M
$587M
Q4 25
$397M
$723M
$1.1B
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Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
69M
+6.8%
Q2 23
70M
+0.3%
Q3 23
70M
+0.3%
Q4 23
70M
+0.4%
Q1 24
70M
+0.4%
Q2 24
71M
+0.6%
Q3 24
71M
+0.6%
Q4 24
71M
-0.2%
Q1 25
73M
+2.7%
Q2 25
73M
+0.7%
Q3 25
74M
+1.0%
Q4 25
72M
-3.2%
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Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 17
—
—
FY 18
—
—
FY 19
—
—
FY 20
$166K
567
FY 21
$115K
1K
FY 22
$188K
1K
FY 23
$342K
1K
FY 24
$426K
1K
FY 25
$576K
1K
marketcaparena.com