Lemonade, Inc.
LMNDNYSEFinancials · Fire, Marine & Casualty Insurance · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $737.9M | $526.5M | $429.8M | $256.7M | $128.4M | $94.4M |
| Operating income | — | — | — | — | — | — |
| Net income | −$165.5M | −$202.2M | −$236.9M | −$297.8M | −$241.3M | −$122.3M |
| Total assets | $1.93B | $1.85B | $1.63B | $1.69B | $1.51B | $828.7M |
| Total liabilities | $1.39B | $1.26B | $924.4M | $823.9M | $522.3M | $287.7M |
| Equity | $533.6M | $593.4M | $708.9M | $866.8M | $988.2M | $541.0M |
| EPS (diluted) | $-2.24 | $-2.85 | $-3.40 | $-4.59 | $-3.94 | $-3.63 |
| Shares out. | 72.8M | 70.2M | 69.3M | 61.7M | 61.3M | 56.8M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- −22.4%
- Return on equity
- −31.0%
- Return on assets
- −8.6%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 72.3%
- Debt / equity
- 2.61×
- Book value / share
- $7.33
- Revenue growth (YoY)
- 40.2%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- −7.7%clean
- Piotroski F-Score
- 3/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 severe● 3 warning● 2 good- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Reported a net loss
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Revenue is growing year-over-year
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Kmissed a reporting deadline ↗Mar 2, 2023
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 11.2M | 6.5 | +6.8% |
| Apr 30, 2026 | 10.5M | 5.8 | -4.0% |
| Apr 15, 2026 | 10.9M | 6.6 | -0.7% |
| Mar 31, 2026 | 11.0M | 4.9 | -3.4% |
| Mar 13, 2026 | 11.4M | 6.3 | -6.3% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsApr 29, 2026
- Results of operationsFeb 19, 2026
- Other material eventJan 27, 2026
- Results of operationsNov 5, 2025
- Director / officer changeOct 15, 2025
- Director / officer changeOct 6, 2025
- Results of operationsAug 5, 2025
- Entered a material agreementJul 2, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.