LMND Lemonade, Inc. Common Stock
NYSE · Insurance · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 4, 2026
$46.49
· of 52w range
· above low
· to high
$43.2852w low
$99.9052w high
Market Cap (MRQ)
$3.59B
P/E (TTM)
-25.7
EPS (TTM)
$-1.81
Revenue (TTM)
$975M
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52W Range
$43–$100
Analyst Rating
HOLD
Price Target
$59
P/E
-25.7
ROE
-27.0%
Net Profit Margin
-14.2%
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LMND Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$46.49
Market Cap (MRQ)
$3.59B
P/E (TTM)
-25.7
EPS (TTM)
$-1.81
Revenue (TTM)
$975M
ROE (TTM)
-27.0%
52W Range
$43–$100
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About Lemonade, Inc. Common Stock Company overview from Wikipedia
Lemonade, Inc. is an American insurance company. The company offers renters' insurance, homeowners' insurance, car insurance, pet insurance, and term life insurance in the United States, as well as contents and liability policies in Germany and the Netherlands and renters' insurance in France. The company is based in New York City and has approximately 2.9 million customers. Lemonade's business model focuses heavily on the usage of artificial intelligence and chatbots, with the company selling 98% of its policies through AI and handling over 60% of claims with AI.
History
2015–2019
Lemonade was founded by Daniel Schreiber (former president of Powermat Technologies) and Shai Wininger (co-founder of Fiverr) in April 2015. Schreiber and Wininger were tech entrepreneurs with no insurance background.
In December 2015, the company secured $13 million in seed money from Sequoia Capital and Aleph.
In August 2016, the company raised $13 million in funding from XL Innovate (part of XL Group), followed by a $34 million Series B funding round in December 2016. The Series B round was led by General Catalyst with participation from Thrive Capital, Tusk Ventures, and GV (formerly Google Ventures).
In May 2016, Lemonade became one of the few insurance companies to receive B-Corporation certification.
In April 2017, the company announced additional investors: Allianz and Ashton Kutcher’s Sound Ventures. In December 2017, Softbank invested an additional $120 million in the company in a Series C round, increasing the total money raised by the company to around $180 million.
In April 2019, Lemonade announced a further $300 million investment in a Series D financing led by SoftBank Group, with participation from Allianz, General Catalyst, GV, OurCrowd, and Thrive Capital, increasing the total money raised by the company to $480 million.
2020–present
In April 2020, the company launched in the Netherlands.
On July 1, 2020, the company became a public company via an initial public offering. The company sold 11,000,000 shares of its common stock, each share priced at $29.00, under the ticker symbol "LMND" on the New York Stock Exchange.
In December 2020, it began offering insurance in France. It also won a trademark dispute with T-Mobile over the use of the color pink.
In May 2021, short-seller Carson Block wrote a letter to Lemonade co-founder and chief executive Daniel Schreiber sharing details of an “accidentally discovered” security flaw that exposed Lemonade customers’ personally identifiable account data. Block wrote that the bug was “unforgivably negligent,” and that his firm was shorting the company's stock “because it is clear Lemonade does not give a fuck about securing its customers’ sensitive personal information."
In November 2021, the company announced that it would fully acquire Metromile, Inc. The acquisition completed on July 29, 2022, following which Lemonade laid off 20% of Metromile's staff.
In January 2026, Lemonade partnered with Tesla to launch the Lemonade Autonomous Car Insurance, a first-of-its-kind offering designed specifically for self-driving cars.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorFinancials
industryInsurance
employees1,282
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$738M2018-12-31 → 2025-12-31
EPS$-2.242019-12-31 → 2025-12-31
Free Cash Flow$-26M2020-12-31 → 2025-12-31
Net margin-14.2%2020-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | LMND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -25.75Y avg ≈-12.6 | ≈-12.6 | · | · | |
| P/S (TTM) | 3.75Y avg ≈7.8 | ≈7.8 | 1.9 | Overvalued | |
| P/B (MRQ) | 7.25Y avg ≈4.0 | ≈4.0 | 2.1 | Overvalued | |
| Price / FCF (TTM) | 443.85Y avg ≈-73.6 | ≈-73.6 | · | · | |
| Price / Cash Flow (TTM) | 169.65Y avg ≈-118.9 | ≈-118.9 | · | · | |
| Price / Tangible Book (MRQ) | 7.35Y avg ≈4.2 | ≈4.2 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | LMND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EBITDA Margin | 2.1%5Y avg ≈3.8% | ≈3.8% | 0.97% | Top tier | |
| Pretax Margin (TTM) | -13.7%5Y avg ≈-82.2% | ≈-82.2% | 20.8% | Weak | |
| Net Profit Margin (TTM) | -14.2%5Y avg ≈-84.0% | ≈-84.0% | 16.2% | Weak | |
| ROA (TTM) | -7.0%5Y avg ≈-14.8% | ≈-14.8% | 7.1% | Weak | |
| ROE (TTM) | -27.0%5Y avg ≈-31.1% | ≈-31.1% | 22.2% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | LMND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 40.2%5Y avg ≈53.2% | ≈53.2% | · | · | |
| Revenue CAGR 3Y | 42.2%5Y avg ≈56.0% | ≈56.0% | · | · | |
| Revenue CAGR 5Y | 50.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | LMND | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.2 | ≈0.2 | 0.4 | In line | |
| Revenue / Employee | ≈$575.6K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
19.1%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $-0.56 | $-0.57 | 1.6% |
| March 31, 2026 | $-0.47 | $-0.58 | 18.6% | |
| Dec. 31, 2025 | $-0.29 | $-0.41 | 28.7% | |
| Sept. 30, 2025 | $-0.51 | $-0.72 | 28.9% | |
| June 30, 2025 | $-0.60 | $-0.81 | 25.8% | |
| March 31, 2025 | $-0.86 | $-0.96 | 10.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $738M | $526M | $430M | $257M | $128M | $94M | $67M | |
| R&D Expense | $94M | $86M | $89M | $80M | $52M | $19M | $10M | |
| SG&A Expense | $140M | $124M | $129M | $122M | $73M | $46M | $22M | |
| Pretax Income | $-161M | $-204M | $-230M | $-295M | $-234M | $-121M | $-108M | |
| Income Tax | $5M | $-2M | $7M | $3M | $8M | $2M | $600.0K | |
| Net Income | $-166M | $-202M | $-237M | $-298M | $-241M | $-122M | $-108M | |
| EPS (Basic) | $-2.24 | $-2.85 | $-3.40 | $-4.59 | $-3.94 | $-3.63 | $-9.75 | |
| EPS (Diluted) | $-2.24 | $-2.85 | $-3.40 | $-4.59 | $-3.94 | $-3.63 | $-9.75 | |
| Shares (Basic) | 73,943,632 | 71,023,115 | 69,658,912 | 64,921,524 | 61,224,433 | 33,654,828 | 11,124,397 | |
| Shares (Diluted) | 73,943,632 | 71,023,115 | 69,658,912 | 64,921,524 | 61,224,433 | 33,654,828 | 11,124,397 | |
| EBITDA | $15M | $20M | $20M | $12M | · | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $385M | $376M | $264M | $282M | $271M | $571M | $270M | |
| Short-term Investments | $14M | $28M | $46M | $100M | $110M | $0 | $55M | |
| PP&E (Net) | $16M | $16M | $17M | $20M | $12M | $6M | $3M | |
| PP&E (Gross) | $64M | $54M | $46M | $38M | $18M | $8M | $4M | |
| Accum. Depreciation | $48M | $38M | $28M | $18M | $6M | $2M | $700.0K | |
| Goodwill | $19M | $19M | $19M | $19M | $0 | · | · | |
| Intangibles | $8M | $14M | $23M | $32M | $600.0K | · | · | |
| Total Assets | $1.93B | $1.85B | $1.63B | $1.69B | $1.51B | $829M | $414M | |
| Total Liabilities | $1.39B | $1.26B | $924M | $824M | $522M | $288M | $117M | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Paid-in Capital | $1.99B | $1.90B | $1.81B | $1.75B | $1.55B | $860M | $16M | |
| Retained Earnings | $-1.46B | $-1.30B | $-1.10B | $-860M | $-562M | $-321M | $-198M | |
| AOCI | $6M | $-6M | $-9M | $-28M | $-3M | $2M | $100.0K | |
| Stockholders' Equity | $534M | $593M | $709M | $867M | $988M | $541M | $-182M | |
| Liabilities + Equity | $1.93B | $1.85B | $1.63B | $1.69B | $1.51B | $829M | $414M | |
| Shares Outstanding | 75,907,215 | 72,720,866 | 70,163,703 | 69,275,030 | 61,660,996 | 56,774,294 | 11,271,228 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $15M | $20M | $20M | $12M | $4M | $2M | · | |
| Stock-based Comp | $61M | $64M | $60M | $59M | $44M | $11M | $4M | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other Non-cash | $72M | $106M | $38M | $63M | · | · | · | |
| Operating Cash Flow | $-16M | $-11M | $-119M | $-163M | $-145M | $-92M | $-78M | |
| CapEx | $9M | $9M | $9M | $10M | $9M | $4M | $3M | |
| Investing Cash Flow | $-89M | $41M | $89M | $181M | $-805M | $50M | $-54M | |
| Financing Cash Flow | $107M | $88M | $15M | $4M | $650M | $341M | $300M | |
| Net Change in Cash | $11M | $114M | $-15M | $16M | $-301M | $301M | $168M | |
| Taxes Paid | $2M | $100.0K | $-3M | · | · | · | · | |
| Free Cash Flow | $-26M | $-21M | $-128M | $-173M | $-154M | $-96M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -22.4% | -38.4% | -55.1% | -116.0% | -187.9% | -129.6% | · | |
| Pretax Margin | -21.8% | -38.7% | -53.5% | -114.8% | -181.9% | -128.0% | · | |
| EBITDA Margin | 2.1% | 3.8% | 4.7% | 4.8% | · | · | · | |
| ROA | -8.8% | -11.6% | -14.2% | -18.6% | -20.6% | -19.7% | · | |
| ROE | -31.2% | -34.1% | -33.0% | -33.6% | -23.7% | -22.0% | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | 0.3 | 0.2 | 0.1 | 0.2 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $7.03 | $8.16 | $10.10 | $12.51 | $16.03 | $9.53 | · | |
| Revenue / Share | $9.98 | $7.41 | $6.17 | $3.95 | $2.10 | · | · | |
| Cash Flow / Share | $-0.22 | $-0.16 | $-1.71 | $-2.51 | $-2.36 | · | · | |
| Cash / Share | $5.07 | $5.17 | $3.77 | $4.08 | $4.39 | $10.05 | · | |
| EPS (TTM) | $-2.24 | $-2.85 | $-3.40 | $-4.59 | $-3.94 | $-3.63 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 40.2% | 22.5% | 67.4% | 99.9% | 36.0% | · | · | |
| Revenue CAGR 3Y | 42.2% | 60.1% | 65.7% | · | · | · | · | |
| Revenue CAGR 5Y | 50.9% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $738M | $526M | $430M | $257M | $128M | $94M | · | |
| Net Income TTM | $-166M | $-202M | $-237M | $-298M | $-241M | $-122M | · | |
| Market Cap | $5.40B | $2.67B | $1.13B | $948M | $2.60B | $6.95B | · | |
| P/E | -31.8 | -12.9 | -4.7 | -3.0 | -10.7 | -33.7 | · | |
| P/S | 7.3 | 5.1 | 2.6 | 3.7 | 20.2 | 73.7 | · | |
| P/B | 10.1 | 4.5 | 1.6 | 1.1 | 2.6 | 12.9 | · | |
| P / Tangible Book | 10.7 | 4.8 | 1.7 | 1.2 | 2.6 | 12.9 | · | |
| P / Cash Flow | -327.5 | -234.0 | -9.5 | -5.8 | -18.0 | -75.8 | · | |
| P / FCF | -208.6 | -128.2 | -8.8 | -5.5 | -16.9 | -72.4 | · | |
| Earnings Yield | -3.1% | -7.8% | -21.1% | -33.6% | -9.4% | -3.0% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $294M | $258M | $228M | $194M | $164M | $151M | $149M | $137M | $122M | $119M | $116M | $114M | $105M | $95M | $88M | $74M | |
| R&D Expense | $30M | $27M | $25M | $25M | $22M | $22M | $22M | $22M | $21M | $21M | $21M | $22M | $24M | $22M | $24M | $21M | |
| SG&A Expense | $48M | $42M | $43M | $35M | $26M | $36M | $34M | $31M | $30M | $30M | $29M | $37M | $31M | $33M | $31M | $40M | |
| Pretax Income | $-42M | $-35M | $-21M | $-36M | $-43M | $-61M | $-38M | $-66M | $-55M | $-45M | $-40M | $-60M | $-66M | $-65M | $-68M | $-89M | |
| Income Tax | $2M | $1M | $1M | $1M | $1M | $1M | $-8M | $2M | $2M | $2M | $3M | $2M | $1M | $1M | $-4M | $2M | |
| Net Income | $-43M | $-36M | $-22M | $-38M | $-44M | $-62M | $-30M | $-68M | $-57M | $-47M | $-42M | $-62M | $-67M | $-66M | $-64M | $-91M | |
| EPS (Basic) | $-0.56 | $-0.47 | $-0.27 | $-0.51 | $-0.60 | $-0.86 | $-0.42 | $-0.95 | $-0.81 | $-0.67 | $-0.60 | $-0.88 | $-0.97 | $-0.95 | $-0.91 | $-1.37 | |
| EPS (Diluted) | $-0.56 | $-0.47 | $-0.27 | $-0.51 | $-0.60 | $-0.86 | $-0.42 | $-0.95 | $-0.81 | $-0.67 | $-0.60 | $-0.88 | $-0.97 | $-0.95 | $-0.91 | $-1.37 | |
| Shares (Basic) | 76,983,877 | 76,307,698 | · | 74,194,138 | 73,433,379 | 72,921,318 | · | 71,138,070 | 70,721,227 | 70,284,486 | · | 69,753,576 | 69,534,731 | 69,334,103 | · | 66,877,100 | |
| Shares (Diluted) | 76,983,877 | 76,307,698 | · | 74,194,138 | 73,433,379 | 72,921,318 | · | 71,138,070 | 70,721,227 | 70,284,486 | · | 69,753,576 | 69,534,731 | 69,334,103 | · | 66,877,100 | |
| EBITDA | · | $3M | · | · | · | $4M | · | · | · | $5M | · | · | · | $5M | · | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $368M | $374M | $385M | $346M | $378M | $309M | $376M | $330M | $343M | $279M | · | $232M | $189M | $250M | · | $222M | |
| Short-term Investments | $9M | $20M | $14M | $24M | $21M | $20M | $28M | $31M | $44M | $22M | · | $73M | $71M | $89M | · | $143M | |
| PP&E (Net) | $19M | $17M | $16M | $15M | $16M | $16M | $16M | $16M | $16M | $17M | · | $17M | $19M | $20M | · | $19M | |
| PP&E (Gross) | · | · | $64M | · | · | · | $54M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $48M | · | · | · | $38M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | · | $19M | $19M | $19M | · | $11M | |
| Intangibles | $8M | $8M | $8M | $8M | $9M | $11M | $14M | $16M | $18M | $20M | · | $25M | $28M | $30M | · | $36M | |
| Total Assets | $2.01B | $1.96B | $1.93B | $1.92B | $1.93B | $1.86B | $1.85B | $1.82B | $1.71B | $1.65B | · | $1.65B | $1.61B | $1.64B | · | $1.71B | |
| Total Liabilities | $1.51B | $1.44B | $1.39B | $1.40B | $1.41B | $1.31B | $1.26B | $1.23B | $1.08B | $970M | · | $921M | $842M | $819M | · | $806M | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Paid-in Capital | $2.04B | $2.02B | $1.99B | $1.95B | $1.93B | $1.91B | $1.90B | $1.86B | $1.84B | $1.83B | · | $1.80B | $1.78B | $1.77B | · | $1.74B | |
| Retained Earnings | $-1.54B | $-1.50B | $-1.46B | $-1.44B | $-1.41B | $-1.36B | $-1.30B | $-1.27B | $-1.20B | $-1.14B | · | $-1.05B | $-993M | $-926M | · | $-796M | |
| AOCI | $-300.0K | $700.0K | $6M | $5M | $4M | $-3M | $-6M | $-100.0K | $-9M | $-9M | · | $-19M | $-21M | $-22M | · | $-35M | |
| Stockholders' Equity | $500M | $518M | $534M | $516M | $527M | $546M | $593M | $593M | $635M | $676M | $709M | $727M | $771M | $822M | $867M | $907M | |
| Liabilities + Equity | $2.01B | $1.96B | $1.93B | $1.92B | $1.93B | $1.86B | $1.85B | $1.82B | $1.71B | $1.65B | · | $1.65B | $1.61B | $1.64B | · | $1.71B | |
| Shares Outstanding | 77,326,718 | 76,786,720 | 75,907,215 | 74,665,921 | 73,819,710 | 73,212,871 | 72,720,866 | 71,378,678 | 71,002,862 | 70,478,088 | 70,163,703 | 69,909,356 | 69,668,176 | 69,449,348 | 69,275,030 | 69,120,346 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $3M | $3M | $3M | $5M | $4M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | |
| Stock-based Comp | $24M | $21M | $18M | $17M | $15M | $10M | $17M | $17M | $15M | $15M | $14M | $15M | $15M | $15M | $16M | $16M | |
| Other Non-cash | · | $11M | · | · | · | $400.0K | · | · | · | $-2M | · | · | · | $-1M | · | · | |
| Operating Cash Flow | $-3M | $-600.0K | $21M | $4M | $6M | $-47M | $14M | $16M | $-12M | $-30M | $-16M | $-6M | $-50M | $-46M | $-29M | $-55M | |
| CapEx | $5M | $4M | $3M | $2M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | |
| Investing Cash Flow | $-32M | $-35M | $-19M | $-59M | $30M | $-40M | $2M | $-54M | $61M | $31M | $41M | $44M | $-11M | $15M | $88M | $81M | |
| Financing Cash Flow | $28M | $26M | $38M | $24M | $24M | $20M | $35M | $24M | $16M | $14M | $7M | $8M | $200.0K | $100.0K | $300.0K | $2M | |
| Net Change in Cash | $-6M | $-10M | $41M | $-30M | $66M | $-66M | $48M | $-12M | $64M | $14M | $33M | $44M | $-61M | $-32M | $62M | $25M | |
| Free Cash Flow | · | $-4M | · | · | · | $-50M | · | · | · | $-32M | · | · | · | $-49M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -14.7% | -13.9% | · | -19.3% | -26.8% | -41.3% | · | -49.6% | -46.9% | -39.7% | · | -53.7% | -64.2% | -69.1% | · | -123.5% | |
| Pretax Margin | -14.2% | -13.4% | · | -18.7% | -26.0% | -40.6% | · | -48.2% | -45.2% | -38.0% | · | -52.0% | -63.0% | -68.0% | · | -120.4% | |
| EBITDA Margin | · | 1.1% | · | · | · | 3.0% | · | · | · | 4.2% | · | · | · | 5.4% | · | · | |
| ROA | -2.2% | -1.9% | · | -2.0% | -2.4% | -3.6% | · | -3.9% | -3.4% | -2.9% | · | -3.7% | -4.4% | -4.2% | · | -5.7% | |
| ROE | -8.5% | -6.7% | · | -6.8% | -7.5% | -10.2% | · | -10.3% | -8.1% | -6.3% | · | -7.5% | -8.3% | -7.6% | · | -9.3% |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $6.46 | $6.75 | · | $6.91 | $7.14 | $7.45 | · | $8.31 | $8.95 | $9.60 | · | $10.40 | $11.07 | $11.83 | · | $13.12 | |
| Revenue / Share | $3.82 | $3.38 | · | $2.62 | $2.23 | $2.07 | · | $1.92 | $1.73 | $1.69 | · | $1.64 | $1.50 | $1.37 | · | $1.11 | |
| Cash Flow / Share | · | $-0.01 | · | · | · | $-0.65 | · | · | · | $-0.42 | · | · | · | $-0.67 | · | · | |
| Cash / Share | $4.75 | $4.87 | · | $4.63 | $5.11 | $4.22 | · | $4.62 | $4.83 | $3.95 | · | $3.31 | $2.71 | $3.60 | · | $3.21 | |
| EPS (TTM) | $-1.81 | $-1.85 | · | $-2.39 | $-2.83 | $-3.04 | · | $-3.03 | $-2.96 | $-3.12 | · | $-3.71 | $-4.20 | $-4.33 | · | $-4.83 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $975M | $845M | · | $659M | $601M | $559M | · | $493M | $471M | $454M | · | $403M | $362M | $308M | · | $209M | |
| Net Income TTM | $-138M | $-139M | · | $-174M | $-204M | $-217M | · | $-215M | $-208M | $-218M | · | $-258M | $-288M | $-289M | · | $-304M | |
| Market Cap | $5.03B | $4.81B | · | $4.00B | $3.23B | $2.30B | · | $1.18B | $1.17B | $1.16B | · | $812M | $1.17B | $990M | · | $1.46B | |
| P/E | -35.9 | -33.9 | · | -22.4 | -15.5 | -10.3 | · | -5.4 | -5.6 | -5.3 | · | -3.1 | -4.0 | -3.3 | · | -4.4 | |
| P/S | 5.2 | 5.7 | · | 6.1 | 5.4 | 4.1 | · | 2.4 | 2.5 | 2.5 | · | 2.0 | 3.2 | 3.2 | · | 7.0 | |
| P/B | 10.1 | 9.3 | · | 7.7 | 6.1 | 4.2 | · | 2.0 | 1.8 | 1.7 | · | 1.1 | 1.5 | 1.2 | · | 1.6 | |
| P / Tangible Book | 10.6 | 9.8 | · | 8.2 | 6.5 | 4.5 | · | 2.1 | 2.0 | 1.8 | · | 1.2 | 1.6 | 1.3 | · | 1.7 | |
| P / Cash Flow | · | -8021.7 | · | · | · | -48.8 | · | · | · | -38.8 | · | · | · | -21.3 | · | · | |
| Earnings Yield | -2.8% | -2.9% | · | -4.5% | -6.5% | -9.7% | · | -18.4% | -17.9% | -19.0% | · | -31.9% | -24.9% | -30.4% | · | -22.8% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $738M | $526M | $430M | $257M | $128M |
| Net Income | $-166M | $-202M | $-237M | $-298M | $-241M |
| Diluted EPS | $-2.24 | $-2.85 | $-3.40 | $-4.59 | $-3.94 |
No data for this statement
Not enough fundamentals data to build this statement yet.
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-26M | $-21M | $-128M | $-173M | $-154M |
Institutional owners (13F) 390 filers · $3.8B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
390
Value held
$3.8B
New positions
63
Exited positions
56
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 63 (-11 vs prior Q) | 56 (-1 vs prior Q) | 134 (+12 vs prior Q) | 95 (-24 vs prior Q) | +1.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $448,822,143 | 6,305,453 | 11.76% | Shares |
| BlackRock, Inc. | $393,408,186 | 6,047,782 | 10.31% | Shares |
| JPMORGAN CHASE & CO | $335,529,739 | 5,392,829 | 8.79% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $204,297,006 | 3,140,615 | 5.35% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $199,779,869 | 3,071,174 | 5.23% | Shares |
| BAILLIE GIFFORD & CO | $178,953,786 | 2,751,019 | 4.69% | Shares |
| GOLDMAN SACHS GROUP INC | $125,844,819 | 1,934,586 | 3.30% | Shares |
| STATE STREET CORP | $115,088,737 | 1,769,235 | 3.01% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $112,597,072 | 1,730,609 | 2.95% | Shares |
| MORGAN STANLEY | $78,890,222 | 1,212,762 | 2.07% | Shares |
| JANE STREET GROUP, LLC | $76,453,265 | 1,175,300 | 2.00% | Put option |
| TWO SIGMA INVESTMENTS, LP | $76,360,764 | 1,173,878 | 2.00% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $76,199,570 | 1,171,400 | 2.00% | Call option |
| JANE STREET GROUP, LLC | $71,255,770 | 1,095,400 | 1.87% | Call option |
| Halter Ferguson Financial Inc. | $65,428,279 | 1,005,815 | 1.71% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $59,976,100 | 922,000 | 1.57% | Put option |
| CITADEL ADVISORS LLC | $59,208,510 | 910,200 | 1.55% | Call option |
| CITADEL ADVISORS LLC | $55,312,015 | 850,300 | 1.45% | Put option |
| NORTHERN TRUST CORP | $45,695,023 | 702,460 | 1.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $45,568,306 | 700,512 | 1.19% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $39,668,797 | 609,820 | 1.04% | Shares |
| JANE STREET GROUP, LLC | $36,808,803 | 565,854 | 0.96% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $36,676,881 | 563,826 | 0.96% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $34,344,448 | 527,970 | 0.90% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $31,014,409 | 476,778 | 0.81% | Shares |
| CITADEL ADVISORS LLC | $30,758,047 | 472,837 | 0.81% | Shares |
| UBS Group AG | $27,579,833 | 423,979 | 0.72% | Shares |
| Qube Research & Technologies Ltd | $27,578,013 | 423,951 | 0.72% | Shares |
| Trexquant Investment LP | $27,325,814 | 420,074 | 0.72% | Shares |
| TWO SIGMA ADVISERS, LP | $24,834,560 | 348,898 | 0.65% | Shares |
| CITIGROUP INC | $24,247,843 | 372,757 | 0.64% | Shares |
| Woodline Partners LP | $24,182,663 | 371,755 | 0.63% | Shares |
| Nuveen, LLC | $24,033,634 | 369,464 | 0.63% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $21,307,843 | 327,561 | 0.56% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $19,515,000 | 3,000 | 0.51% | Put option |
| WOLVERINE TRADING, LLC | $18,001,907 | 331,100 | 0.47% | Call option |
| WELLS FARGO & COMPANY/MN | $17,758,062 | 272,991 | 0.47% | Shares |
| PEAK6 LLC | $17,732,630 | 272,600 | 0.46% | Put option |
| Privium Fund Management B.V. | $17,580,348 | 270,259 | 0.46% | Shares |
| GROUP ONE TRADING LLC | $15,056,213 | 231,456 | 0.39% | Shares |
| Squarepoint Ops LLC | $14,591,170 | 224,307 | 0.38% | Shares |
| Bank of New York Mellon Corp | $13,861,032 | 213,083 | 0.36% | Shares |
| D. E. Shaw & Co., Inc. | $13,620,559 | 209,386 | 0.36% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $13,549,915 | 208,300 | 0.35% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,569,338 | 177,853 | 0.30% | Shares |
| FEDERATED HERMES, INC. | $11,464,151 | 176,236 | 0.30% | Shares |
| WOLVERINE TRADING, LLC | $11,341,582 | 208,600 | 0.30% | Put option |
| PhiloSmith Capital Corp | $11,224,378 | 172,550 | 0.29% | Shares |
| TUDOR INVESTMENT CORP ET AL | $10,657,207 | 163,831 | 0.28% | Shares |
| Man Group plc | $8,863,518 | 136,257 | 0.23% | Shares |
Company insiders 22 insiders · 7 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Daniel A. Schreiber | Chief Executive Officer | March 18, 2026 A | 1,024,327 | 0 | 2 | $-12,898,508 |
| Timothy E Bixby | Chief Financial Officer | Sept. 3, 2026 S | 172,370 | 0 | 6 | $-8,582,453 |
| Shai Wininger | President | Sept. 2, 2026 G | 4,416,873 | 0 | 0 | $0 |
| Adina Eckstein | Chief Operating Officer | March 8, 2026 A | 333,503 | 0 | 9 | $-10,233,821 |
| John Sheldon Peters | Chief Insurance Officer | Sept. 4, 2026 S | 73,834 | 0 | 15 | $-5,520,460 |
| Maya Prosor | Chief Business Officer | Sept. 3, 2026 S | 186,533 | 0 | 4 | $-147,262 |
| Jorge Espinel | CBDO | Dec. 6, 2021 A | 0 | 0 | 0 | $0 |
| Michael A Eisenberg | Director | June 10, 2026 G | 195,452 | 0 | 0 | $0 |
| Prashant Ratanchandani | Director | June 3, 2026 A | 6,185 | 0 | 0 | $0 |
| Geoff Seeley | Director | June 3, 2026 A | 5,967 | 0 | 0 | $0 |
| Maria Angelidis-Smith | Director | June 3, 2026 A | 17,744 | 2 | 0 | $485,478 |
| Samer Haj-Yehia | Director | June 3, 2026 A | 27,187 | 0 | 0 | $0 |
| Debra Schwartz | Director | June 3, 2026 A | 24,415 | 0 | 1 | $-351,078 |
| Mwashuma Kamata Nyatta | Director | June 24, 2024 A | 23,189 | 0 | 0 | $0 |
| Irina Novoselsky | Director | June 7, 2023 A | 18,462 | 0 | 0 | $0 |
| Silvija Martincevic | Director | June 7, 2023 A | 18,462 | 0 | 0 | $0 |
| Joel E Cutler | Director | June 2, 2021 S | 808,754 | 0 | 0 | $0 |
| Becker Caryn Seidman | Director | March 16, 2021 M | 0 | 0 | 0 | $0 |
| Haim Sadger | Director | March 10, 2021 J | 348,675 | 0 | 0 | $0 |
| Tom Hutton | Director | Jan. 19, 2021 S | 15,000 | 0 | 0 | $0 |
| SoftBank Group Capital Ltd | 10% owner | May 13, 2025 S | 7,111,441 | 0 | 0 | $0 |
| Alex Clavel | · | March 31, 2023 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 34 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FNY · First Trust Exchange-Traded AlphaDE… | 0.35% | 42,331 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.28% | 76,977 SH | Aug. 19, 2026 | Daily |
| ESSC · Strategy Shares | 0.24% | 1,766 NS | July 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.23% | 675,883 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.14% | 414,124 SH | Aug. 19, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.14% | 2,469 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 19,139 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.12% | 917,102 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.12% | 22,685 SH | Sept. 11, 2026 | Daily |
| IWM · iShares Trust | 0.12% | 1,840,059 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.11% | 34,455 NS | July 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.11% | 31,669 NS | July 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.11% | 12,711 NS | July 31, 2026 | N-PORT |
| PNQI · Invesco Exchange-Traded Fund Trust | 0.10% | 11,532 SH | Oct. 2, 2026 | Daily |
| ESUM · Strategy Shares | 0.08% | 3,175 NS | July 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.06% | 18,911 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.05% | 29,114 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 749,035 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.05% | 1,585,889 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.05% | 105,818 SH | Aug. 19, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.03% | 17,055 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.03% | 4,545 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 13,868 SH | Oct. 2, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 2,193,559 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 5,924 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 15,870 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 2,356 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 16,613 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 84,243 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 16,661 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 57,859 SH | Aug. 19, 2026 | Daily |
| IAK · iShares Trust | · | 34,824 SH | Sept. 11, 2026 | Daily |
| ISCB · iShares Trust | · | 3,173 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 74,448 SH | Sept. 11, 2026 | Daily |
LMND Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 19 analysts
HOLD
Median target
$55.00
+18.3%
3 15.8%
Strong Buy
6 31.6%
Buy
8 42.1%
Hold
1 5.3%
Sell
1 5.3%
Strong Sell
12-Month Price Target
9 analysts · 2026-10-04Mean target $59.22 +27.4%
Now
Current price $46.49
Low$37.00
Mean$59.22
High$92.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| LMND | $5.40B | -31.8 | 40.2% | -22.4% | -31.2% | · |
| MCY | $5.21B | 9.6 | 9.4% | 9.0% | 24.8% | · |
| WTM | $5.15B | 4.8 | 66.8% | 29.6% | 22.3% | · |
| RLI | $5.88B | 14.6 | 6.3% | 21.4% | 23.0% | · |
| SIGI | $5.03B | 11.2 | 9.8% | 8.7% | 13.9% | · |
| NP | · | -112.2 | 33.7% | 23.4% | -9.9% | · |
| PLMR | $3.57B | 18.8 | 58.2% | 22.5% | 22.0% | · |
| SLDE | $2.42B | 5.8 | 36.5% | 38.4% | 57.4% | · |
| SKWD | $2.07B | 12.6 | 23.2% | 12.0% | 18.9% | · |
| HCI | $2.49B | 8.4 | 20.1% | 33.2% | 40.0% | · |
| STC | $2.12B | 17.3 | 17.3% | 4.0% | 7.6% | · |
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Source: SEC 10-Q filed Aug 4, 2026