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LMND · NYSE · United States · Fire, Marine & Casualty Insurance
In shortLemonade, Inc. is loss-making.
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it. Bank or insurer: tests that do not apply to them are left out.
| Operating marginShare of each sale left after running the business, before interest and tax. | – | n/a |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -22.4% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -29.4% | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -3.5% | n/a |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | n/a |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 30.8% | 0/100 |
| Operating margin volatility | – | n/a |
Weight in the score: 20%
| Revenue growth, 3-year average | 42.2% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
3 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 128 | 257 | 430 | 527 | 738 |
| Research & development | 52 | 80 | 89 | 86 | 94 |
| Pre-tax income | (234) | (295) | (230) | (204) | (161) |
| Income tax | 7.7 | 3 | 7.1 | (1.7) | 4.6 |
| Net income | (241) | (298) | (237) | (202) | (166) |
| Diluted EPS | −$3.94 | −$4.59 | −$3.40 | −$2.85 | −$2.24 |
| Diluted shares (millions) | 61 | 65 | 70 | 71 | 74 |
3 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: the model does not apply to banks and insurers.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 4, 2026