Filing Flows › Lemonade (LMND) › Q1 2025
Lemonade (LMND) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Lemonade (LMND) reported revenue of $151M for the first quarter 2025 (Q1 2025), +27% from a year earlier and +2% from the quarter before. Operating margin was -40.6%, net loss $62.4M (41.3% of revenue).
Lemonade, Q1 2025: revenue $151M (+27% year over year), operating margin -40.6%, net loss $62.4M, operating cash flow −$47.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $151M | +2% | +27% |
| Operating profit | −$61.4M | — | — |
| Net earnings | −$62.4M | — | — |
| Operating cash flow | −$47.2M | — | — |
What changed
Revenue was $151.2M in Q1 2025, up 27% year over year and up 2% from the previous quarter.
Operating costs exceeded revenue by $61.4M, an operating margin of -40.6%. Total costs grew 29% against revenue growth of 27%. The fastest-growing cost line was Sales & marketing (+42%). The quarter ended with a net loss of $62.4M, wider than the previous quarter's $30.0M loss.
Operating cash flow was −$47.2M. Non-cash charges added back $4.5M of depreciation and amortization and $10.3M of share-based compensation. Capital expenditures of $2.3M exceeded it, leaving free cash flow of −$49.5M.
Questions
What was Lemonade's revenue in the first quarter 2025?
Lemonade (LMND) reported revenue of $151M for the first quarter 2025 (Q1 2025), +27% from a year earlier and +2% from the quarter before.
Was Lemonade profitable in the first quarter 2025?
Operating loss was $61.4M (-40.6% of revenue) and net loss $62.4M.
Source: Lemonade 10-Q on SEC EDGAR.