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AI-driven insurer selling renters, home, pet, life and car insurance via an app with chatbot underwriting.
AI-driven insurer selling renters, home, pet, life and car insurance via an app with chatbot underwriting.
Collects premiums and keeps only part of the risk, passing a large share of premium and claims to reinsurers, the insurers' insurers, in return for a commission, which limits swings in claims. Renters and pet policies came first; car cover arrived with the 2022 purchase of Metromile, which prices by miles driven.
Moat: none (data, brand). Differentiated app/UX and growing claims data, but not yet consistently profitable versus incumbents.
Headquarters: New York, New York, United States · Founded: 2015 · Employees: 1,282
Size Lemonade (LMND) is a United States Financials company (Multi-Line Insurance) with a market value of $3.06B, the 1538th largest of 3,117 United States companies the cockpit tracks. Shares closed at $39.55 on 6 Nov 2026.
Performance Over six months the shares fell 28.1%, against +4.4% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 76.7% over the last twelve months (peer median +8.8%); the operating margin is -13.8% (peer median 10.7%).
Valuation It trades at 6.12× book value against a peer median of 1.01× (most expensive of 21).
Price implies The share price implies a return on equity of about 75.0%; Lemonade delivers -27.0%, so the price asks more than the business earns today.
Short interest Short interest is 15.0% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $866M | $615M | $435M | $360M | $193M |
| Revenue growth | — | +41% | +21% | +87% | — |
| Net income | -$138M | -$166M | -$202M | -$237M | -$298M |
| Free cash flow | $8.10M | -$25.9M | -$20.8M | -$128M | -$173M |
| Capital expenditure | $13.1M | $9.40M | $9.40M | $9.20M | $10.1M |
| Total debt | $206M | $182M | $116M | $43.1M | $35.2M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Lemonade LMND | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% |
| Root ROOT | $672M | -23% | +15% | 15% | 2.05× | 37.6% |
| Progressive PGR | $132B | +17% | +8% | 33% | 3.82× | 15.8% |
| Allstate ALL | $64.4B | +20% | +6% | 46% | 2.04× | 9.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LMND | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.7% | +3.6% | lowest of 21 |
| 6-month return | -28.1% | +4.4% | lowest of 21 |
| Return on equity | -27.0% | 12.7% | lowest of 21 |
| Price / book | 6.12× | 1.01× | most expensive of 21 |
| ROE the price implies | 75.0% | 8.0% | most demanding of 20 |
| ROE delivered | -27.0% | 13.7% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Lemonade LMND | United States | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% | -27.0% |
| F&G Annuities & Life FG | United States | $3.06B | -17% | +14% | 9% | 0.66× | 8.4% | 9.2% |
| Genworth Financial GNW | United States | $3.29B | -5% | -1% | 2% | 0.38× | 5.3% | 2.3% |
| New India Assurance NIACL.NS | India | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% | -1.3% |
| Skyward Specialty Insurance SKWD | United States | $2.68B | +29% | +38% | 17% | 2.11× | 10.2% | 17.3% |
| Vaudoise Assurances VAHN.SW | Switzerland | $2.66B | -8% | +14% | 6% | 0.78× | n/a | 5.9% |
| Hamilton Insurance HG | United States | $3.64B | +20% | +20% | 19% | 1.24× | 8.0% | 19.0% |
| Alm. Brand A/S ALMB.CO | Denmark | $3.70B | +16% | +3% | 9% | 2.19× | 7.3% | 8.8% |
| Go Digit General Insurance GODIGIT.NS | India | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% | n/a |
| Pelagos Insurance Capital PLGO | United States | $2.29B | +33% | -4% | 18% | 1.03× | 6.5% | 17.6% |
| NIB NHF.AX | Australia | $2.29B | +4% | +5% | 17% | 2.90× | 13.2% | 16.6% |
| Seoul Guarantee Insurance 031210.KS | South Korea | $2.26B | -8% | +14% | 6% | 0.61× | 4.5% | 6.0% |
| Zhongan Online P&C Insurance 6060.HK | Hong Kong | $2.06B | -19% | +16% | 8% | 0.54× | 8.0% | 8.2% |
| CNO Financial CNO | United States | $5.09B | +20% | +2% | 17% | 2.19× | 16.0% | 16.9% |
| White Mountains Insurance WTM | United States | $5.35B | +5% | +21% | 22% | 0.99× | 6.3% | 21.9% |
| Sunshine Insurance 6963.HK | Hong Kong | $5.35B | 0% | +8% | 14% | 0.66× | 5.4% | 13.7% |
| Korean Reinsurance 003690.KS | South Korea | $1.74B | +8% | -2% | 14% | 0.73× | 4.8% | 14.4% |
| FWD 1828.HK | Hong Kong | $5.54B | +7% | +24% | 4% | 0.92× | 7.3% | 4.1% |
| Trupanion TRUP | United States | $1.61B | +49% | +12% | 6% | 3.94× | 35.3% | 6.1% |
| Sony Financial 8729.T | Japan | $6.06B | +1% | -10% | 14% | 1.08× | 5.1% | 14.4% |
| RLI RLI | United States | $6.27B | +39% | +6% | 22% | 3.70× | 15.4% | 22.1% |