# Lemonade, Inc.: financial statements, quarterly

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)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/lmnd/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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 | [115](/filings/0001691421-24-000133.md) | [116 d](/filings/0001691421-26-000016.md) | [119](/filings/0001691421-25-000066.md) | [122](/filings/0001691421-25-000124.md) | [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) |
| Research and development | $m | [21.8](/filings/0001691421-24-000133.md) | [21.1 d](/filings/0001691421-26-000016.md) | [20.9](/filings/0001691421-25-000066.md) | [21.2](/filings/0001691421-25-000124.md) | [21.9](/filings/0001691421-25-000149.md) | [21.8 d](/filings/0001691421-26-000016.md) | [22.0](/filings/0001691421-26-000034.md) | [22.4](/filings/0001691421-26-000055.md) | [24.7](/filings/0001691421-25-000149.md) | [24.8 d](/filings/0001691421-26-000016.md) | [26.9](/filings/0001691421-26-000034.md) | [30.0](/filings/0001691421-26-000055.md) |
| Income tax | $m | [1.9](/filings/0001691421-24-000133.md) | [2.8 d](/filings/0001691421-26-000016.md) | [2.1](/filings/0001691421-25-000066.md) | [2.1](/filings/0001691421-25-000124.md) | [1.9](/filings/0001691421-25-000149.md) | [(7.8) d](/filings/0001691421-26-000016.md) | [1.0](/filings/0001691421-26-000034.md) | [1.3](/filings/0001691421-26-000055.md) | [1.2](/filings/0001691421-25-000149.md) | [1.1 d](/filings/0001691421-26-000016.md) | [1.2](/filings/0001691421-26-000034.md) | [1.6](/filings/0001691421-26-000055.md) |
| Net income | $m | [(61.5)](/filings/0001691421-24-000133.md) | [(42.4) d](/filings/0001691421-26-000016.md) | [(47.3)](/filings/0001691421-25-000149.md) | [(57.2)](/filings/0001691421-25-000149.md) | [(67.7)](/filings/0001691421-25-000149.md) | [(30.0) d](/filings/0001691421-26-000016.md) | [(62.4)](/filings/0001691421-26-000055.md) | [(43.9)](/filings/0001691421-26-000055.md) | [(37.5)](/filings/0001691421-25-000149.md) | [(21.7) d](/filings/0001691421-26-000016.md) | [(35.8)](/filings/0001691421-26-000055.md) | [(43.4)](/filings/0001691421-26-000055.md) |
| Diluted EPS | $ per share | [(0.88)](/filings/0001691421-24-000133.md) | not reported | [(0.67)](/filings/0001691421-25-000066.md) | [(0.81)](/filings/0001691421-25-000124.md) | [(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) |
| Basic EPS | $ per share | [(0.88)](/filings/0001691421-24-000133.md) | not reported | [(0.67)](/filings/0001691421-25-000066.md) | [(0.81)](/filings/0001691421-25-000124.md) | [(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) |

- Revenue: us-gaap:Revenues
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [232](/filings/0001691421-23-000112.md) | [265](/filings/0001691421-25-000031.md) | [279](/filings/0001691421-24-000061.md) | [343](/filings/0001691421-24-000108.md) | [330](/filings/0001691421-24-000133.md) | [376](/filings/0001691421-26-000016.md) | [309](/filings/0001691421-25-000066.md) | [378](/filings/0001691421-25-000124.md) | [346](/filings/0001691421-25-000149.md) | [385](/filings/0001691421-26-000055.md) | [374](/filings/0001691421-26-000034.md) | [368](/filings/0001691421-26-000055.md) |
| Total assets | $m | [1,648](/filings/0001691421-23-000112.md) | [1,633](/filings/0001691421-25-000031.md) | [1,646](/filings/0001691421-24-000061.md) | [1,714](/filings/0001691421-24-000108.md) | [1,823](/filings/0001691421-24-000133.md) | [1,849](/filings/0001691421-26-000016.md) | [1,857](/filings/0001691421-25-000066.md) | [1,935](/filings/0001691421-25-000124.md) | [1,919](/filings/0001691421-25-000149.md) | [1,926](/filings/0001691421-26-000055.md) | [1,958](/filings/0001691421-26-000034.md) | [2,012](/filings/0001691421-26-000055.md) |
| Total liabilities | $m | [921](/filings/0001691421-23-000112.md) | [924](/filings/0001691421-25-000031.md) | [970](/filings/0001691421-24-000061.md) | [1,079](/filings/0001691421-24-000108.md) | [1,230](/filings/0001691421-24-000133.md) | [1,256](/filings/0001691421-26-000016.md) | [1,311](/filings/0001691421-25-000066.md) | [1,408](/filings/0001691421-25-000124.md) | [1,403](/filings/0001691421-25-000149.md) | [1,392](/filings/0001691421-26-000055.md) | [1,440](/filings/0001691421-26-000034.md) | [1,512](/filings/0001691421-26-000055.md) |
| Shareholders' equity | $m | [727](/filings/0001691421-24-000133.md) | [709](/filings/0001691421-26-000016.md) | [676](/filings/0001691421-25-000149.md) | [635](/filings/0001691421-25-000149.md) | [593](/filings/0001691421-25-000149.md) | [593](/filings/0001691421-26-000055.md) | [546](/filings/0001691421-26-000055.md) | [527](/filings/0001691421-26-000055.md) | [516](/filings/0001691421-25-000149.md) | [534](/filings/0001691421-26-000055.md) | [518](/filings/0001691421-26-000055.md) | [500](/filings/0001691421-26-000055.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Total assets: us-gaap:Assets
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(6.3) d](/filings/0001691421-24-000133.md) | [(16.1) d](/filings/0001691421-26-000016.md) | [(29.8)](/filings/0001691421-25-000066.md) | [(11.7) d](/filings/0001691421-25-000124.md) | [16.3 d](/filings/0001691421-25-000149.md) | [13.8 d](/filings/0001691421-26-000016.md) | [(47.2)](/filings/0001691421-26-000034.md) | [5.5 d](/filings/0001691421-26-000055.md) | [4.5 d](/filings/0001691421-25-000149.md) | [20.7 d](/filings/0001691421-26-000016.md) | [(0.6)](/filings/0001691421-26-000034.md) | [(3.4) d](/filings/0001691421-26-000055.md) |
| Capital expenditure | $m | [2.2 d](/filings/0001691421-24-000133.md) | [2.4 d](/filings/0001691421-26-000016.md) | [2.5](/filings/0001691421-25-000066.md) | [1.5 d](/filings/0001691421-25-000124.md) | [2.2 d](/filings/0001691421-25-000149.md) | [3.2 d](/filings/0001691421-26-000016.md) | [2.3](/filings/0001691421-26-000034.md) | [2.1 d](/filings/0001691421-26-000055.md) | [1.9 d](/filings/0001691421-25-000149.md) | [3.1 d](/filings/0001691421-26-000016.md) | [3.5](/filings/0001691421-26-000034.md) | [4.6 d](/filings/0001691421-26-000055.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [66.9](/filings/0001691421-23-000112.md) | [69.3](/filings/0001691421-24-000061.md) | [69.5](/filings/0001691421-24-000108.md) | [69.8](/filings/0001691421-24-000133.md) | [70.3](/filings/0001691421-25-000066.md) | [70.7](/filings/0001691421-25-000124.md) | [71.1](/filings/0001691421-25-000149.md) | [72.9](/filings/0001691421-26-000034.md) | [73.4](/filings/0001691421-26-000055.md) | [74.2](/filings/0001691421-25-000149.md) | [76.3](/filings/0001691421-26-000034.md) | [77.0](/filings/0001691421-26-000055.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 77,396,615 at 2026-08-03, from the cover of the [10-Q filed 2026-08-04](/filings/0001691421-26-000055.md) (dei:EntityCommonStockSharesOutstanding).

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