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Lemonade LMND Property Insurance — Unpaid losses and loss adjustment expenses

Other product segments

Car
$92.2M-1.6%
Pet
$17.4M+58.2%

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Other financials

Income statement

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Revenue$258.0M+70.6%
Net income-$35.8M+42.6%
EPS (diluted)-$0.47+45.3%

Balance sheet

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Cash & equivalents$386.5M+20.9%
Total debt$20.8M-4.6%
Total equity$518.0M-5.0%
Total assets$2.0B+5.5%

Cash flow

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Operating cash flow-$600.0K+98.7%
CapEx$3.5M+52.2%
Free cash flow-$4.1M+91.7%

Valuation

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Market cap$4.1B+5.9%
Enterprise value$3.73B+6.5%
P/S4.9×-1.6×

Profitability

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Net margin-16.4%-6.0pp
FCF margin-15.4%-6.4pp

Returns & leverage

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Return on equity-26.1%-5.5pp
Debt / equity0.0×

Where this comes from

Reported directly by Lemonade in its filing.

Tagged under the XBRL concept us-gaap:LiabilityForClaimsAndClaimsAdjustmentExpense.

The source filing: Lemonade’s 10-K, filed February 25, 2026.

Filed
Feb 25, 2026, 4:21 PM EST
Fiscal year
FY2025
Accession
0001691421-26-000016
Accident YearDecember 31, 2016December 31, 2017December 31, 2018December 31, 2019December 31, 2020December 31, 2021December 31, 2022December 31, 2023December 31, 2024December 31, 2025
202252.785.590.792.7
202388.9122.3128.3
202489.1123.6
202596.2
Total paid losses and ALAE, net$612.9
Total unpaid loss and ALAE reserves, net$105.4
Ceded unpaid loss and ALAE88.1
Gross unpaid loss and ALAE$193.5

Item 8. Financial Statements and Supplementary Data

FAQ

What is Lemonade's property insurance — unpaid losses and loss adjustment expenses?
Lemonade (LMND) reported property insurance — unpaid losses and loss adjustment expenses of $193.5M in Q4 2025.
How has Lemonade's property insurance — unpaid losses and loss adjustment expenses changed year-over-year?
Lemonade's property insurance — unpaid losses and loss adjustment expenses increased by 0.2% year-over-year, from $193.1M to $193.5M.
What does property insurance — unpaid losses and loss adjustment expenses mean?
This represents the gross liability for all claims and loss adjustment expenses that have been incurred but remain unpaid at the end of the reporting period. It serves as a comprehensive measure of the company's total outstanding claims obligations before accounting for reinsurance recoveries. This figure is fundamental to assessing the company's overall claims-paying capacity.

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