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Lemonade LMND Business Segments — Technology development

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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$4.01B+6.4%
Enterprise value$3.65B+7.1%
P/S4.8×-1.5×

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:ResearchAndDevelopmentExpense.

The source filing: Lemonade’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 3:41 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001691421-26-000034
Line itemThree Months Ended March 31, 20262025
Other insurance expense24.126.1
Sales and marketing11.85.1
Advertising expenses54.338.1
Technology development26.922.0
General and administrative35.028.1
Interest expense6.23.3
Depreciation and amortization2.74.5
Other expenses (1)(1.7)

Item 1. Financial Statements.

FAQ

What is Lemonade's business segments — technology development?
Lemonade (LMND) reported business segments — technology development of $26.9M in Q1 2026.
How has Lemonade's business segments — technology development changed year-over-year?
Lemonade's business segments — technology development increased by 22.3% year-over-year, from $22M to $26.9M.
What is the long-term trend for Lemonade's business segments — technology development?
Over 3 years (2022 to 2025), Lemonade's business segments — technology development has grown at a 5.7% compound annual growth rate (CAGR), from $79.6M to $93.9M.
What does business segments — technology development mean?
Includes costs associated with research, development, and maintenance of the digital platform, AI algorithms, and software infrastructure. For a technology-driven insurer, this represents the core investment in competitive differentiation and operational automation. It tracks the company's commitment to scaling its digital-first insurance model.

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