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Lemonade, Inc. balance sheet

At the end of fiscal 2025, Lemonade, Inc. had total assets of $1.93bn, total liabilities of $1.39bn and shareholders' equity of $534m. It held $385m in cash against $0 of debt: net cash of $385m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents102270571271283265376385368
Goodwill———01919191919
Total assets—4148291,5111,6911,6331,8491,9262,012
Total debt000000000
Total liabilities—1172885228249241,2561,3921,512
Shareholders' equity−79−183541988867709593534500
Non-controlling interests and other (assets − liabilities − equity)—480———————
Net debt (negative = net cash)−102−270−571−271−283−265−376−385−368
Shares outstanding—34m—62m69m70m73m76m77m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Lemonade, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lemonade, Inc.