# Lemonade, Inc.: overview

LMND · NYSE · CIK 1691421 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/lmnd.md) · [Financials](/companies/lmnd/financials.md) · [Filings](/companies/lmnd/filings.md) · [Insiders](/companies/lmnd/insiders.md)

Latest reported revenue: [$294.4m](/filings/0001691421-26-000055.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 4, 2026 (XBRL us-gaap:Revenues, accession 0001691421-26-000055).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [137](/filings/0001691421-25-000149.md) | [149 d](/filings/0001691421-26-000016.md) | [151](/filings/0001691421-26-000034.md) | [164](/filings/0001691421-26-000055.md) | [195](/filings/0001691421-25-000149.md) | [228 d](/filings/0001691421-26-000016.md) | [258](/filings/0001691421-26-000034.md) | [294](/filings/0001691421-26-000055.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [(49.6%)](/filings/0001691421-25-000149.md) | [(20.2%) d](/filings/0001691421-26-000016.md) | [(41.3%)](/filings/0001691421-26-000055.md) | [(26.8%)](/filings/0001691421-26-000055.md) | [(19.3%)](/filings/0001691421-25-000149.md) | [(9.5%) d](/filings/0001691421-26-000016.md) | [(13.9%)](/filings/0001691421-26-000055.md) | [(14.7%)](/filings/0001691421-26-000055.md) |
| Diluted EPS | $ per share | [(0.95)](/filings/0001691421-25-000149.md) | not reported | [(0.86)](/filings/0001691421-26-000034.md) | [(0.60)](/filings/0001691421-26-000055.md) | [(0.51)](/filings/0001691421-25-000149.md) | not reported | [(0.47)](/filings/0001691421-26-000034.md) | [(0.56)](/filings/0001691421-26-000055.md) |
| Free cash flow | $m | [14.1 d](/filings/0001691421-25-000149.md) | [10.6 d](/filings/0001691421-26-000016.md) | [(49.5)](/filings/0001691421-26-000034.md) | [3.4 d](/filings/0001691421-26-000055.md) | [2.6 d](/filings/0001691421-25-000149.md) | [17.6 d](/filings/0001691421-26-000016.md) | [(4.1)](/filings/0001691421-26-000034.md) | [(8.0) d](/filings/0001691421-26-000055.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [128](/filings/0001691421-24-000026.md) | [257](/filings/0001691421-25-000031.md) | [430](/filings/0001691421-26-000016.md) | [527](/filings/0001691421-26-000016.md) | [738](/filings/0001691421-26-000016.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [(187.9%)](/filings/0001691421-24-000026.md) | [(116.0%)](/filings/0001691421-25-000031.md) | [(55.1%)](/filings/0001691421-26-000016.md) | [(38.4%)](/filings/0001691421-26-000016.md) | [(22.4%)](/filings/0001691421-26-000016.md) |
| Diluted EPS | $ per share | [(3.94)](/filings/0001691421-24-000026.md) | [(4.59)](/filings/0001691421-25-000031.md) | [(3.40)](/filings/0001691421-26-000016.md) | [(2.85)](/filings/0001691421-26-000016.md) | [(2.24)](/filings/0001691421-26-000016.md) |
| Free cash flow | $m | [(154)](/filings/0001691421-24-000026.md) | [(173)](/filings/0001691421-25-000031.md) | [(128)](/filings/0001691421-26-000016.md) | [(20.8)](/filings/0001691421-26-000016.md) | [(25.9)](/filings/0001691421-26-000016.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/lmnd/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $393.4m | 6,047,782 |  | Added +1,078,881 |
| [JPMORGAN CHASE & CO](/funds/19617.md) | 2026-06-30 | $335.5m | 5,392,829 |  | Added +130,013 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $204.3m | 3,140,615 |  | Added +158,758 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $199.8m | 3,071,174 |  | Added +53,082 |
| [BAILLIE GIFFORD & CO](/funds/1088875.md) | 2026-06-30 | $179.0m | 2,751,019 |  | Reduced −15,407 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $125.8m | 1,934,586 |  | Added +1,209,183 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $115.1m | 1,769,235 |  | Added +214,736 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $112.6m | 1,730,609 |  | Added +14,758 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $78.9m | 1,212,762 |  | Added +48,124 |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $76.5m | 1,175,300 | Put | Reduced −54,600 |

## Recent filings

[All 525 filings](/companies/lmnd/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-15 | 21:13 ET | [8-K/A](/filings/0001691421-26-000061.md) | 5.02 Departure or appointment of officers or directors | 0001691421-26-000061 |
| 2026-08-04 | 13:09 ET | [10-Q](/filings/0001691421-26-000055.md) | Quarterly report, period 2026-06-30 | 0001691421-26-000055 |
| 2026-07-29 | 23:11 ET | [8-K](/filings/0001691421-26-000050.md) | 5.02 Departure or appointment of officers or directors | 0001691421-26-000050 |
| 2026-07-29 | 23:00 ET | [8-K](/filings/0001691421-26-000047.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001691421-26-000047 |
| 2026-06-24 | 12:01 ET | [8-K](/filings/0001691421-26-000041.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation | 0001691421-26-000041 |
| 2026-06-05 | 20:02 ET | [8-K](/filings/0001691421-26-000038.md) | 5.07 Shareholder vote results | 0001691421-26-000038 |
| 2026-04-30 | 19:41 ET | [10-Q](/filings/0001691421-26-000034.md) | Quarterly report, period 2026-03-31 | 0001691421-26-000034 |
| 2026-04-29 | 22:20 ET | [8-K](/filings/0001691421-26-000029.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001691421-26-000029 |
| 2026-04-22 | 20:35 ET | [DEF 14A](/filings/0001691421-26-000024.md) | Proxy statement, period 2026-04-22 | 0001691421-26-000024 |
| 2026-02-25 | 21:21 ET | [10-K](/filings/0001691421-26-000016.md) | Annual report, period 2025-12-31 | 0001691421-26-000016 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001691421-26-000016.md), filed Feb 25, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/5ecf6110-df39-4587-bb93-acb1892cfb1d)

## About the filer

- CIK: 1691421
- Tickers: LMND
- Exchange: NYSE
- SIC code: 6331 Fire, Marine & Casualty Insurance
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:46 ET. No prices; not investment advice.