Filing Flows › Financials › Lemonade (LMND)
Lemonade (LMND) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Lemonade (LMND) Q3 2026 earnings results →
Q3 2026 Revenue up 73% year over year to $336M · 13¢ of every $1 of revenue lost · operating margin -12.9%
Lemonade made $336M in Q3 2026 (+73% Y/Y). Operating margin -12.9%, net loss $43.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $336.1M in Q3 2026, up 73% year over year and up 14% from the previous quarter.
Operating costs exceeded revenue by $43.2M, an operating margin of -12.9%. Total costs grew 64% against revenue growth of 73%. The fastest-growing cost line was Other operating costs (+91%). The quarter ended with a net loss of $43.7M, wider than the previous quarter's $43.4M loss.
Operating cash flow was $7.3M (up 62% year over year). Non-cash charges added back $2.6M of depreciation and amortization and $23.2M of share-based compensation. Working capital and other items added $25.2M. Capital expenditures of $5.4M left free cash flow of $1.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $336M | +73% | -12.9% | −$43.7M | $7.3M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $294M | +79% | -14.2% | −$43.4M | −$3.4M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $258M | +71% | -13.4% | −$35.8M | −$600K |
| Q4 2025 | 10-K | Feb 25, 2026 | $228M | +53% | -9.0% | −$21.7M | $20.7M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $194M | +42% | -18.7% | −$37.5M | $4.5M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $164M | +34% | -26.0% | −$43.9M | $5.5M |
| Q1 2025 | 10-Q | May 6, 2025 | $151M | +27% | -40.6% | −$62.4M | −$47.2M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Buys from
- AAPL · Stated in 10-K (named, share not stated) · source
- GOOGL · Stated in 10-K (named, share not stated) · source
About Lemonade
Lemonade is rebuilding insurance from the ground up on a digital substrate and an innovative business model. By leveraging technology, data, artificial intelligence, contemporary design, and social impact, we believe we are making insurance more delightful, more affordable, and more precise. To that end, we have built a vertically-integrated company with wholly-owned insurance carriers in the United States and Europe, including the UK, and the full technology stack to power them. A brief chat with our bot, AI Maya, is all it takes to get covered with renters, homeowners, pet, car or life insurance, and we expect to offer a similar experience for other insurance products over time. Claims are filed by chatting with another bot, AI Jim, who pays claims in as little as two seconds.
In its own words, from its 10-K, filed Feb 25, 2026.
Lemonade against its Fire, Marine & Casualty Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +73% against the peers' median +3%. Operating margin: -12.9% against the peers' median 15.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LMND Lemonade | Q3 2026 | $336M | +73% | -12.9% |
| BRK-B Berkshire Hathaway | Q2 2026 | $101.8B | +10% | 15.5% |
| PGR Progressive | Q3 2026 | $23.2B | +3% | 14.0% |
| ALL Allstate | Q3 2026 | $17.3B | +0.5% | 15.1% |
| CB Chubb | Q3 2026 | $16.2B | +0.3% | 21.0% |
| TRV Travelers Companies | Q3 2026 | $12.4B | -0.5% | 19.1% |
| AIG American International Group | Q3 2026 | $7.4B | +17% | 15.0% |
| HIG Hartford Insurance Group | Q3 2026 | $7.2B | +4% | 21.9% |
| L Loews | Q3 2026 | $4.8B | +2% | 8.5% |
Source: Lemonade 10-Q on SEC EDGAR · CIK 1691421 · Fire, Marine & Casualty Insurance
Guidance and outlook
13F: who owns LMND and who is buying
More on LMND
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results