For the quarter ending 2026-03-31, LMND had -$10.3M decrease in cash & cash equivalents over the period. -$4.1M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Total revenue | 258 | 228.1 | 194.5 | 315.3 |
| Less loss and loss adjustment expenses, net | 133.3 | 94.5 | 89.6 | 77.5 |
| Other insurance expense | 24.1 | 22.1 | 24.1 | 21.4 |
| Sales and marketing | 11.8 | 10.8 | 11.3 | 9.9 |
| Advertising expenses | 54.3 | 53.4 | 46.1 | 49.7 |
| Technology development | 26.9 | 24.8 | 24.7 | 22.4 |
| General and administrative | 35 | 35.1 | 30.3 | 56.9 |
| Interest expense | 6.2 | 5.4 | 4.6 | 4 |
| Depreciation and amortization | 2.7 | 15.2 | - | - |
| Other expenses | -1.7 | -15 | - | - |
| Depreciation and amortization | - | - | 3.4 | 4.7 |
| Other expenses | - | - | -3.3 | -11.7 |
| Income tax expense | 1.2 | 1.1 | 1.2 | 1.3 |
| Net loss | -35.8 | -21.7 | -37.5 | -43.9 |
| Depreciation and amortization | 2.7 | 2.6 | 3.4 | 4.7 |
| Stock-based compensation | 21.2 | 18.5 | 17.1 | 15.4 |
| Amortization of bond discount | - | -5.8 | - | - |
| Amortization of premium on bonds | -1.6 | - | 1.4 | 1.5 |
| Provision for bad debt | 5.9 | 8 | 5.2 | 4.4 |
| Gain on early lease termination | - | 0 | 2.3 | - |
| Asset impairment charge | - | 0 | 0 | 0 |
| Premium receivable | 52.7 | 15 | 53.8 | 33.3 |
| Reinsurance recoverable | -7.9 | -14.3 | -10.1 | -4.5 |
| Prepaid reinsurance premium | -24 | -55.5 | -78.2 | 18.1 |
| Deferred acquisition costs | 2.1 | -1.4 | 0.9 | 1.2 |
| Other assets | -3.6 | 11.8 | -1.4 | 0.6 |
| Unpaid loss and loss adjustment expense | 5.7 | -9 | 2.3 | 2.5 |
| Unearned premium | -37.2 | -9.1 | -58.4 | -33.3 |
| Trade payables | 1.9 | -4.6 | 2.9 | -1.2 |
| Funds held for reinsurance treaties | -17.9 | -33 | -37.6 | 15 |
| Deferred ceding commission | -4.9 | -11.8 | -18.4 | 7.4 |
| Ceded premium payable | -2.8 | 4.9 | -10.7 | 3.5 |
| Other liabilities and accrued expenses | 6.8 | 14.7 | -11.9 | 14.6 |
| Net cash used in operating activities | -0.6 | 20.7 | 4.5 | 5.5 |
| Proceeds from short-term investments sold or matured | 5.5 | 13.6 | 13 | 5.6 |
| Proceeds from bonds sold or matured | 124.6 | 83.5 | 135.5 | 133.9 |
| Cost of short-term investments acquired | 10.5 | 4 | 15 | 6.7 |
| Cost of bonds acquired | 150.7 | 108.9 | 191 | 101.2 |
| Purchases of property and equipment | 3.5 | 3.1 | 1.9 | 2.1 |
| Net cash used in investing activities | -34.6 | -18.9 | -59.4 | 29.5 |
| Proceeds from borrowings under financing agreement | 40.4 | 36.7 | 30.2 | 36.1 |
| Payments on borrowings under financing agreement | 18.9 | 17.6 | 14.7 | 14.5 |
| Proceeds from stock exercises | 4.7 | 19.4 | 8.5 | 2.5 |
| Net cash provided by financing activities | 26.2 | 38.5 | 24 | 24.1 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | -1.3 | 1 | 0.4 | 7.2 |
| Net decrease in cash, cash equivalents and restricted cash | -10.3 | 41.3 | -30.5 | 66.3 |
| Cash, cash equivalents and restricted cash at beginning of period | 396.8 | 355.5 | 386 | 319.7 |
| Cash, cash equivalents and restricted cash at end of period | 386.5 | 396.8 | 355.5 | 386 |
Lemonade, Inc. (LMND)
Lemonade, Inc. (LMND)