Lemonade, Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $737.9M | $526.5M | $429.8M | $256.7M | $128.4M | $94.4M | $67.3M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | $93.9M | $85.8M | $88.8M | $79.6M | $51.8M | $19.4M | $9.8M |
| SG&A Expense | — | $139.8M | $124.5M | $129.3M | $122.3M | $72.6M | $46.3M | $21.5M |
| Operating Income | — | $-160.9M | $-203.9M | $-229.8M | $-294.8M | $-233.6M | $-120.8M | $-107.9M |
| Operating Margin | — | -21.8% | -38.7% | -53.5% | -114.8% | -181.9% | -128.0% | -160.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | — | $-160.9M | $-203.9M | $-229.8M | $-294.8M | $-233.6M | $-120.8M | $-107.9M |
| Income Tax Expense | — | $4.6M | $-1.7M | $7.1M | $3.0M | $7.7M | $1.5M | $600.0K |
| Net Income | — | $-165.5M | $-202.2M | $-236.9M | $-297.8M | $-241.3M | $-122.3M | $-108.5M |
| Net Margin | — | -22.4% | -38.4% | -55.1% | -116.0% | -187.9% | -129.6% | -161.2% |
| EPS (Basic) | — | $-2.24 | $-2.85 | $-3.40 | $-4.59 | $-3.94 | $-3.63 | $-3.25 |
| EPS (Diluted) | — | $-2.24 | $-2.85 | $-3.40 | $-4.59 | $-3.94 | $-3.63 | $-3.25 |
| Shares Outstanding (Basic) | 76.4M | 73.9M | 71.0M | 69.7M | 64.9M | 61.2M | 33.7M | 33.4M |
| Shares Outstanding (Diluted) | 76.4M | 73.9M | 71.0M | 69.7M | 64.9M | 61.2M | 33.7M | 33.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |