Cash flow Lemonade, Inc. Deutsche Boerse AG

Stocks

LE0

US52567D1072

Property & Casualty Insurance

Market Closed - Deutsche Boerse AG 09:56:32 2026-09-15 EDT			5-day change	1st Jan Change
43.04 ^EUR	+2.45%		-5.45%	-27.69%

09:20pm	Lemonade, Inc. Presents at FT Partners FinTech Conference, Sep-15-2026 01:20 PM
09-10	Lemonade, Inc. Presents at KBW Insurance Conference 2026, Sep-10-2026 03:50 PM

bb7bac5b96ac5c732e4fe333ff0.WhxtOlmPNzUw7zOuPYr5SXAFpL_wWtgXWqu-vnJUQtk.EVsXTW3bdn9A13CdBb7OIj183talHZFyH-6L2hw3N6EYaARLa95mZwWjRA

Published financial data: LEMONADE, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Premiums and Annuity Revenues	77M	172M	315M	371M	536M
Total Interest And Dividend Income	1.9M	8.4M	24.7M	34M	37.8M
Other Revenues, Total	49.5M	75.9M	89.9M	122M	164M
Total Revenues	128M	257M	430M	526M	738M
Policy Benefits	71.9M	167M	280M	277M	347M
Selling General & Admin Expenses, Total	248M	320M	315M	385M	469M
Salaries And Other Employee Benefits	42.6M	55.8M	57.1M	62.4M	59M
Total Operating Expenses	362M	543M	653M	724M	875M
Operating Income	-234M	-286M	-223M	-198M	-137M
Interest Expense, Total	-	-	-	-6.2M	-17.3M
EBT, Excl. Unusual Items	-234M	-286M	-223M	-204M	-154M
Total Merger & Related Restructuring Charges	-	-8.4M	-	-	-
Asset Writedown	-	-	-3.7M	-	-
Legal Settlements	-	-	-3M	-	-
Other Unusual Items	-	-	-	-	-6.9M
EBT, Incl. Unusual Items	-234M	-295M	-230M	-204M	-161M
Income Tax Expense	7.7M	3M	7.1M	-1.7M	4.6M
Earnings From Continuing Operations	-241M	-298M	-237M	-202M	-166M
Net Income to Company	-241M	-298M	-237M	-202M	-166M
Net Income - (IS)	-241M	-298M	-237M	-202M	-166M
Net Income to Common Incl Extra Items	-241M	-298M	-237M	-202M	-166M
Net Income to Common Excl. Extra Items	-241M	-298M	-237M	-202M	-166M
Per Share Items
Net EPS - Basic	-3.94	-4.59	-3.4	-2.85	-2.24
Basic EPS - Continuing Operations	-3.94	-4.59	-3.4	-2.85	-2.24
Basic Weighted Average Shares Outstanding	61.22M	64.92M	69.66M	71.02M	73.94M
Net EPS - Diluted	-3.94	-4.59	-3.4	-2.85	-2.24
Diluted EPS - Continuing Operations	-3.94	-4.59	-3.4	-2.85	-2.24
Diluted Weighted Average Shares Outstanding	61.22M	64.92M	69.66M	71.02M	73.94M
Normalized Basic EPS	-2.38	-2.76	-2	-1.79	-1.3
Normalized Diluted EPS	-2.38	-2.76	-2	-1.79	-1.3
Supplemental Items
EBITDA	-230M	-274M	-203M	-178M	-122M
EBITA	-234M	-281M	-214M	-188M	-131M
EBIT	-234M	-286M	-223M	-198M	-137M
EBITDAR	-225M	-267M	-194M	-169M	-114M
Total Revenues (As Reported)	128M	257M	430M	526M	738M
Effective Tax Rate - (Ratio)	-3.3	-1.02	-3.09	0.83	-2.86
Current Domestic Taxes	-	-	-	-	100K
Current Foreign Taxes	7.7M	3M	7.1M	-1.7M	4.5M
Total Current Taxes	7.7M	3M	7.1M	-1.7M	4.6M
Normalized Net Income	-146M	-179M	-139M	-127M	-96.25M
Supplemental Operating Expense Items
Advertising Expense	105M	88.5M	55.2M	122M	187M
Selling and Marketing Expenses	136M	132M	95.5M	156M	226M
General and Administrative Expenses	111M	188M	220M	229M	243M
Net Rental Expense, Total	5.3M	7.4M	8.9M	8.4M	8M
Imputed Operating Lease Interest Expense	-	-	-	5.54M	7.65M
Imputed Operating Lease Depreciation	-	-	-	2.86M	346K
Stock-Based Comp., S&M Exp. (Total)	5.1M	6.6M	6.4M	10.6M	-1.5M
Stock-Based Comp., G&A Exp. (Total)	37.5M	50M	50.7M	51.8M	60.5M
Stock-Based Comp., Other (Total)	1.5M	2.7M	2.8M	2.1M	2.3M
Total Stock-Based Compensation	44.1M	59.3M	59.9M	64.5M	61.3M

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Investment In Debt Securities	691M	650M	627M	607M	709M
Total Other Investments	110M	99.8M	45.8M	27.5M	14.1M
Total investments	802M	750M	673M	635M	723M
Cash And Equivalents	271M	282M	264M	376M	385M
Reinsurance Recoverable - (IS)	89.8M	157M	138M	170M	153M
Other Receivables - (Insurance Template)	145M	209M	248M	312M	421M
Deferred Policy Acquisition Costs - (BS)	6.2M	6.9M	8.8M	12.2M	12.1M
Gross Property Plant And Equipment	39.5M	64.2M	63.2M	69.7M	83.7M
Accumulated Depreciation	-5.9M	-18.2M	-28.4M	-38.4M	-48.1M
Net Property Plant And Equipment	33.6M	46M	34.8M	31.3M	35.6M
Goodwill	-	19M	19M	19M	19M
Other Intangibles, Total	600K	32.2M	22.9M	11.9M	6.4M
Restricted Cash	-	4M	7M	9.7M	11.8M
Other Current Assets, Total	160M	178M	208M	264M	157M
Other Long-Term Assets, Total	2.8M	5.4M	8M	8.4M	1.8M
Total Assets	1.51B	1.69B	1.63B	1.85B	1.93B
Liabilities
Accounts Payable, Total	1M	1.1M	600K	4.5M	500K
Accrued Expenses, Total	26.6M	33.3M	27.3M	46M	68.3M
Insurance And Annuity Liabilities	97.9M	256M	262M	298M	303M
Unearned Premiums	246M	330M	412M	528M	620M
Reinsurance Payable - (BS)	122M	154M	152M	246M	196M
Current Portion of Leases	4.9M	8.8M	10.1M	9M	7.2M
Long-Term Debt	-	-	14.9M	83.4M	158M
Long-Term Leases	17.4M	26.4M	18.1M	14.8M	16.8M
Current Income Taxes Payable	4.7M	600K	1.2M	1.5M	600K
Other Non Current Liabilities	1.8M	13.3M	25.5M	24.6M	21.8M
Total Liabilities	522M	824M	924M	1.26B	1.39B
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Additional Paid In Capital	1.55B	1.75B	1.81B	1.9B	1.99B
Retained Earnings	-562M	-860M	-1.1B	-1.3B	-1.46B
Comprehensive Income and Other	-3.4M	-27.6M	-9M	-6.1M	6.4M
Total Common Equity	988M	867M	709M	593M	534M
Total Equity	988M	867M	709M	593M	534M
Total Liabilities And Equity	1.51B	1.69B	1.63B	1.85B	1.93B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	61.69M	69.3M	70.22M	72.82M	76.38M
ECS Total Common Shares Outstanding	61.66M	69.28M	70.16M	72.72M	75.91M
Book Value / Share	16.03	12.51	10.1	8.16	7.03
Tangible Book Value	988M	816M	667M	562M	508M
Tangible Book Value Per Share	16.02	11.77	9.51	7.74	6.7
Total Debt	22.3M	35.2M	43.1M	107M	182M
Net Debt	-248M	-247M	-221M	-269M	-203M
Debt Equivalent Oper. Leases	42.4M	59.2M	71.2M	67.2M	64M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	13M	24.4M	32.8M	41.4M	50.8M
Full Time Employees	1.12K	1.37K	1.26K	1.24K	1.28K

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	-241M	-298M	-237M	-202M	-166M
Depreciation, Depletion & Amortization	3.7M	6.9M	10.4M	10.7M	9.7M
Amortization of Goodwill and Intangible Assets - (CF)	-	5.3M	9.6M	9.3M	5.5M
Total Depreciation, Depletion & Amortization	3.7M	12.2M	20M	20M	15.2M
(Gain) Loss on Sale of Investments - (CF)	-4.2M	6.7M	-2.6M	-6.1M	-5.8M
Total Asset Writedown	-	-	3.7M	300K	-
Deferred Policy Acquisition Costs - (CF)	-2.7M	-800K	-1.9M	-3.4M	100K
Stock-Based Compensation (CF)	44.1M	59.3M	59.9M	64.5M	61.3M
Provision and Write-off of Bad Debts	6.2M	8.7M	8.1M	11M	22.1M
Change in Accounts Receivable	-47.2M	-43.8M	-50.5M	-90.2M	-123M
Reinsurance Recoverable - (CF)	-40.8M	-52.6M	18.4M	-32M	17M
Change in Accounts Payable	-400K	-700K	-500K	3.9M	-4M
Reinsurance Payable - (CF)	46.7M	20.5M	-2.4M	91.4M	-50M
Change in Unearned Revenues	98M	68.3M	67.4M	126M	94.6M
Change in insurance Reserves / Liabilities	51.6M	74M	6.1M	35.8M	5M
Change in Other Net Operating Assets (Collected)	-58.3M	-17M	-7.9M	-29.9M	119M
Other Operating Activities	-	-	-	-	-2.3M
Cash from Operations	-145M	-163M	-119M	-11.4M	-16.5M
Capital Expenditure	-9.4M	-10.1M	-9.2M	-9.4M	-9.4M
Cash Acquisitions	-	98.8M	-	-	-
Purchase / Sale of Intangible Assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-795M	92.4M	97.9M	50M	-79.7M
Cash from Investing	-805M	181M	88.7M	40.6M	-89.1M
Long-Term Debt Issued, Total	-	-	19.1M	96.1M	133M
Total Debt Issued	-	-	19.1M	96.1M	133M
Long-Term Debt Repaid, Total	-	-	-4.2M	-27.7M	-58.3M
Total Debt Repaid	-	-	-4.2M	-27.7M	-58.3M
Issuance of Common Stock	650M	3.6M	500K	19.3M	31.9M
Issuance of Preferred Stock	-	-	-	-	-
Cash from Financing	650M	3.6M	15.4M	87.7M	107M
Foreign Exchange Rate Adjustments	-1M	-5.8M	-	-2.7M	10.1M
Net Change in Cash	-301M	15.9M	-15M	114M	11.1M
Supplemental Items
Cash Interest Paid	-	-	300K	5M	16.3M
Cash Income Tax Paid (Refund)	3.2M	3.4M	700K	2.5M	2.5M
Net Debt Issued / Repaid	-	-	14.9M	68.4M	74.7M
Levered Free Cash Flow	-133M	41.8M	191M	52.76M	115M
Unlevered Free Cash Flow	-133M	41.8M	191M	56.64M	126M
Change In Net Working Capital	25.1M	-159M	-260M	-105M	-144M

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	-12.48	-11.18	-8.39	-7.1	-4.53
Return on Total Capital	-18.82	-18.72	-16.86	-17.01	-12.06
Return On Equity %	-31.56	-32.11	-30.07	-31.05	-29.37
Return on Common Equity	-31.56	-32.11	-30.07	-31.05	-29.37
Margin Analysis
Gross Profit Margin %	44	34.83	34.76	47.39	52.97
SG&A Margin	225.93	146.4	86.67	84.94	71.5
EBITDA Margin %	-179.05	-106.82	-47.25	-33.75	-16.47
EBITA Margin %	-181.93	-109.51	-49.67	-35.78	-17.78
EBIT Margin %	-181.93	-111.57	-51.91	-37.55	-18.53
Income From Continuing Operations Margin %	-187.93	-116.01	-55.12	-38.4	-22.43
Net Income Margin %	-187.93	-116.01	-55.12	-38.4	-22.43
Net Avail. For Common Margin %	-187.93	-116.01	-55.12	-38.4	-22.43
Normalized Net Income Margin	-113.71	-69.73	-32.44	-24.2	-13.04
Levered Free Cash Flow Margin	-103.35	16.28	44.38	10.02	15.63
Unlevered Free Cash Flow Margin	-103.35	16.28	44.38	10.76	17.1
Asset Turnover
Asset Turnover	0.11	0.16	0.26	0.3	0.39
Fixed Assets Turnover	6.53	6.45	10.64	15.93	22.06
Receivables Turnover (Average Receivables)	0.74	1.18	1.69	1.53	1.61
Short Term Liquidity
Current Ratio	1.6	1.31	1.16	1.12	1
Quick Ratio	1.08	0.83	0.7	0.69	0.71
Operating Cash Flow to Current Liabilities	-0.3	-0.23	-0.15	-0.01	-0.01
Days Sales Outstanding (Average Receivables)	492.91	309.48	215.63	239.13	226.78
Average Days Payable Outstanding	704.87	504.52	320.74	521.19	470.56
Long Term Solvency
Total Debt/Equity	2.26	4.06	6.08	18.07	34.13
Total Debt / Total Capital	2.21	3.9	5.73	15.3	25.44
LT Debt/Equity	1.76	3.05	4.66	16.55	32.78
Long-Term Debt / Total Capital	1.72	2.93	4.39	14.02	24.44
Total Liabilities / Total Assets	34.58	48.73	56.6	67.91	72.29
EBIT / Interest Expense	-	-	-	-31.89	-7.9
EBITDA / Interest Expense	-	-	-	-27.31	-6.56
(EBITDA - Capex) / Interest Expense	-	-	-	-28.82	-7.1
Total Debt / EBITDA	-0.1	-0.13	-0.22	-0.63	-1.6
Net Debt / EBITDA	1.11	0.93	1.14	1.59	1.79
Total Debt / (EBITDA - Capex)	-0.1	-0.13	-0.21	-0.6	-1.48
Net Debt / (EBITDA - Capex)	1.06	0.89	1.09	1.5	1.65
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	36.02	99.92	67.43	22.5	40.15
Gross Profit, 1 Yr. Growth %	42.32	58.23	67.11	67	56.67
EBITDA, 1 Yr. Growth %	93.03	19.27	-25.93	-12.33	-31.51
EBITA, 1 Yr. Growth %	93.38	20.33	-24.05	-11.59	-30.25
EBIT, 1 Yr. Growth %	93.38	22.6	-22.1	-11.23	-30.75
Earnings From Cont. Operations, 1 Yr. Growth %	97.3	23.41	-20.45	-14.65	-18.15
Net Income, 1 Yr. Growth %	97.3	23.41	-20.45	-14.65	-18.15
Normalized Net Income, 1 Yr. Growth %	93.38	22.6	-22.1	-8.61	-24.36
Diluted EPS Before Extra, 1 Yr. Growth %	8.46	16.39	-25.86	-16.29	-21.38
Net Property, Plant and Equip., 1 Yr. Growth %	489.47	36.9	-24.35	-10.06	13.74
Accounts Receivable, 1 Yr. Growth %	47.5	41.42	23.61	36.34	33.9
Total Assets, 1 Yr. Growth %	82.27	11.93	-3.4	13.21	4.14
Common Equity, 1 Yr. Growth %	82.66	-12.28	-18.22	-16.29	-10.08
Tangible Book Value, 1 Yr. Growth %	82.75	-17.42	-18.22	-15.88	-9.65
Cash From Operations, 1 Yr. Growth %	57.69	12.72	-26.93	-90.43	44.74
Capital Expenditures, 1 Yr. Growth %	113.64	7.45	-8.91	2.17	0
Levered Free Cash Flow, 1 Yr. Growth %	448.35	-119.86	-233.96	-72.76	128.64
Unlevered Free Cash Flow, 1 Yr. Growth %	448.35	-119.86	-233.96	-70.79	132.24
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	38.13	64.9	82.96	43.21	31.03
Gross Profit, 2 Yr. CAGR %	62.11	50.06	62.61	67.06	61.75
EBITDA, 2 Yr. CAGR %	46.38	51.73	-6.01	-19.5	-22.58
EBITA, 2 Yr. CAGR %	47.14	52.54	-4.4	-18.89	-23.24
EBIT, 2 Yr. CAGR %	47.14	53.98	-2.27	-16.92	-21.65
Earnings From Cont. Operations, 2 Yr. CAGR %	49.13	56.04	-0.92	-17.6	-16.42
Net Income, 2 Yr. CAGR %	49.13	56.04	-0.92	-17.6	-16.42
Normalized Net Income, 2 Yr. CAGR %	47.14	53.98	-2.27	-15.62	-16.92
Diluted EPS Before Extra, 2 Yr. CAGR %	-36.43	12.35	-7.11	-21.22	-18.88
Net Property, Plant and Equip., 2 Yr. CAGR %	229.22	184.08	1.77	-17.51	1.14
Accounts Receivable, 2 Yr. CAGR %	53.22	44.43	32.21	30.32	35.12
Total Assets, 2 Yr. CAGR %	90.94	42.84	3.99	4.58	8.58
Common Equity, 2 Yr. CAGR %	132.7	26.58	-15.3	-17.26	-13.24
Tangible Book Value, 2 Yr. CAGR %	132.24	22.85	-17.82	-16.95	-12.82
Cash From Operations, 2 Yr. CAGR %	36.07	33.32	-9.24	-73.55	-62.78
Capital Expenditures, 2 Yr. CAGR %	86.59	51.51	-1.07	-3.53	1.08
Levered Free Cash Flow, 2 Yr. CAGR %	13.6	31.43	-4.8	-39.13	-22.82
Unlevered Free Cash Flow, 2 Yr. CAGR %	13.6	31.43	-4.8	-36.93	-19.34
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	78.7	56.24	65.74	60.06	42.19
Gross Profit, 3 Yr. CAGR %	97.81	60.8	55.54	64.06	63.52
EBITDA, 3 Yr. CAGR %	63.6	36.72	19.47	-8.23	-23.76
EBITA, 3 Yr. CAGR %	64.37	37.6	20.9	-6.92	-22.91
EBIT, 3 Yr. CAGR %	64.37	38.46	22.69	-5.41	-21.85
Earnings From Cont. Operations, 3 Yr. CAGR %	65.84	40.01	24.66	-5.72	-17.78
Net Income, 3 Yr. CAGR %	65.84	40.01	24.66	-5.72	-17.78
Normalized Net Income, 3 Yr. CAGR %	64.37	38.46	22.69	-4.43	-18.68
Diluted EPS Before Extra, 3 Yr. CAGR %	-6.61	-22.23	-2.19	-10.27	-21.27
Net Property, Plant and Equip., 3 Yr. CAGR %	222.69	145.73	82.77	-2.34	-8.19
Accounts Receivable, 3 Yr. CAGR %	69.89	49.18	37.12	33.92	31.5
Total Assets, 3 Yr. CAGR %	114.15	59.8	25.38	6.97	4.43
Common Equity, 3 Yr. CAGR %	132.04	68.09	9.43	-15.63	-14.93
Tangible Book Value, 3 Yr. CAGR %	131.99	64.54	7.27	-17.11	-14.59
Cash From Operations, 3 Yr. CAGR %	52.46	27.79	9.11	-57.12	-53.4
Capital Expenditures, 3 Yr. CAGR %	137.69	55.23	27.87	0	-2.37
Levered Free Cash Flow, 3 Yr. CAGR %	73.35	-25.92	99.02	-36.95	-6.78
Unlevered Free Cash Flow, 3 Yr. CAGR %	73.35	-25.92	99.02	-35.44	-3.96
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	154.59	80.39	50.9	50.87
Gross Profit, 5 Yr. CAGR %	-	163.78	82.9	63.28	58
EBITDA, 5 Yr. CAGR %	-	-	31.07	10.62	0.4
EBITA, 5 Yr. CAGR %	-	58.61	32.34	11.79	1.67
EBIT, 5 Yr. CAGR %	-	59.21	33.51	12.87	2.5
Earnings From Cont. Operations, 5 Yr. CAGR %	-	60.34	34.97	13.26	6.24
Net Income, 5 Yr. CAGR %	-	60.34	34.97	13.26	6.24
Normalized Net Income, 5 Yr. CAGR %	-	59.21	33.51	13.57	4.98
Diluted EPS Before Extra, 5 Yr. CAGR %	-	12.19	-6.81	-21.83	-9.24
Net Property, Plant and Equip., 5 Yr. CAGR %	-	173.61	103.38	58.79	44.25
Accounts Receivable, 5 Yr. CAGR %	-	98.01	53.68	41.33	36.53
Total Assets, 5 Yr. CAGR %	-	107.27	60.41	34.87	18.37
Common Equity, 5 Yr. CAGR %	-	98.12	55.05	26.6	-0.28
Tangible Book Value, 5 Yr. CAGR %	-	95.72	53.18	25.17	-1.22
Cash From Operations, 5 Yr. CAGR %	-	53.54	23.89	-31.95	-29.04
Capital Expenditures, 5 Yr. CAGR %	-	102.04	67.39	28.34	16.4
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	49.58	-12.49	36.66
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	49.58	-11.25	39.13