Lemonade, Inc. (LMND) FY2026 Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-04-01 to 2026-06-30

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Lemonade, Inc. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Proceeds from borrowings under financing agreement → financing reconciliation: $49,500,000.00Proceeds from stock exercises → financing reconciliation: $1,400,000.00financing reconciliation → Net cash from financing activities: $28,200,000.00financing reconciliation → Payments on borrowings under financing agreement: $22,700,000.00Proceeds from bonds sold or matured → investing reconciliation: $224,900,000.00Proceeds from short-term investments sold or matured → investing reconciliation: $16,300,000.00investing reconciliation → Cost of bonds acquired: $262,800,000.00investing reconciliation → Cost of short-term investments acquired: $6,000,000.00investing reconciliation → Purchases of property and equipment: $4,600,000.00Net cash used in operating activities → operating reconciliation: $3,400,000.00Unearned premium → operating reconciliation: $47,500,000.00Stock-based compensation → operating reconciliation: $24,500,000.00Reinsurance recoverable → operating reconciliation: $13,400,000.00Provision for bad debt → operating reconciliation: $6,300,000.00Depreciation and amortization → operating reconciliation: $2,400,000.00Funds held for reinsurance treaties → operating reconciliation: $1,400,000.00Deferred ceding commission → operating reconciliation: $900,000.00operating reconciliation → Net loss: $43,400,000.00operating reconciliation → Premium receivable: $47,600,000.00operating reconciliation → Other liabilities and accrued expenses: $2,200,000.00operating reconciliation → Deferred acquisition costs: $1,900,000.00operating reconciliation → Prepaid reinsurance premium: $1,400,000.00operating reconciliation → Unpaid loss and loss adjustment expense: $1,300,000.00operating reconciliation → Amortization of premium on bonds: $1,100,000.00operating reconciliation → Ceded premium payable: $500,000.00operating reconciliation → Other assets: $400,000.00Net cash used in investing activities → investing reconciliation: $32,200,000.00Exchange-rate effect → Cash sources and uses: $1,200,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $386,500,000.00Net cash from financing activities → Cash sources and uses: $28,200,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $380,300,000.00Cash sources and uses → Net cash used in investing activities: $32,200,000.00Cash sources and uses → Net cash used in operating activities: $3,400,000.00Net loss: -$43,400,000.00Net loss−$43.40 MDepreciation and amortization: $2,400,000.00Depreciation & amortization+$2.40 MStock-based compensation: $24,500,000.00Stock-based compensation+$24.50 MAmortization of premium on bonds: -$1,100,000.00Investment discount & premium−$1.10 MProvision for bad debt: $6,300,000.00Credit loss provision+$6.30 MPremium receivable: -$47,600,000.00Premiums receivable−$47.60 MReinsurance recoverable: $13,400,000.00Reinsurance recoverables+$13.40 MPrepaid reinsurance premium: -$1,400,000.00Prepaid reinsurance premiums−$1.40 MDeferred acquisition costs: -$1,900,000.00Deferred acquisition costs−$1.90 MOther assets: -$400,000.00Other operating assets−$400.00 KUnpaid loss and loss adjustment expense: -$1,300,000.00Claims reserves−$1.30 MUnearned premium: $47,500,000.00Unearned premium+$47.50 MTrade payables: $0.00Funds held for reinsurance treaties: $1,400,000.00Reinsurance payables+$1.40 MDeferred ceding commission: $900,000.00Deferred ceding commission+$900.00 KCeded premium payable: -$500,000.00Ceded premium payable−$500.00 KOther liabilities and accrued expenses: -$2,200,000.00Accrued & other liabilities−$2.20 MNet cash used in operating activities: -$3,400,000.00. Cash required to fund net payments.Operating cash−$3.40 Moperating reconciliation: $99,800,000.00Proceeds from borrowings under financing agreement: $49,500,000.00Credit line borrowings+$49.50 MPayments on borrowings under financing agreement: -$22,700,000.00Credit line repayments−$22.70 MProceeds from stock exercises: $1,400,000.00Stock option exercises+$1.40 MNet cash from financing activities: $28,200,000.00Financing cash+$28.20 Mfinancing reconciliation: $50,900,000.00Proceeds from short-term investments sold or matured: $16,300,000.00Marketable securities proceeds+$16.30 MProceeds from bonds sold or matured: $224,900,000.00AFS securities proceeds+$224.90 MCost of short-term investments acquired: -$6,000,000.00Marketable securities purchases−$6.00 MCost of bonds acquired: -$262,800,000.00AFS securities purchases−$262.80 MPurchases of property and equipment: -$4,600,000.00PP&E purchases−$4.60 MNet cash used in investing activities: -$32,200,000.00. Cash required to fund net payments.Investing cash−$32.20 Minvesting reconciliation: $273,400,000.00Cash sources and uses: $415,900,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $386,500,000.00Beginning cash$386.50 MEnding cash: Cash, cash equivalents, and restricted cash: $380,300,000.00Ending cash$380.30 MExchange-rate effect: $1,200,000.00FX effect+$1.20 MCASH RECONCILIATIONFinancingflowsInvestingflowsOperatingflowsNet loss −$43.40M + net operating adjustments $40.00M = operating cash −$3.40MFree cash flow−$8.00 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change−$6.20 MEnding cash − beginning cash
Chart details

Lemonade, Inc. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026

Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Mar 31, 2026
386,500,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
negative 3,400,000 US dollars. Net cash used.
Net loss
negative 43,400,000 US dollars
Depreciation and amortization
2,400,000 US dollars
Stock-based compensation
24,500,000 US dollars
Amortization of premium on bonds
negative 1,100,000 US dollars
Provision for bad debt
6,300,000 US dollars
Premium receivable
negative 47,600,000 US dollars
Reinsurance recoverable
13,400,000 US dollars
Prepaid reinsurance premium
negative 1,400,000 US dollars
Deferred acquisition costs
negative 1,900,000 US dollars
Other assets
negative 400,000 US dollars
Unpaid loss and loss adjustment expense
negative 1,300,000 US dollars
Unearned premium
47,500,000 US dollars
Trade payables
0 US dollars
Funds held for reinsurance treaties
1,400,000 US dollars
Deferred ceding commission
900,000 US dollars
Ceded premium payable
negative 500,000 US dollars
Other liabilities and accrued expenses
negative 2,200,000 US dollars
Investing activities
negative 32,200,000 US dollars. Net cash used.
Proceeds from short-term investments sold or matured
16,300,000 US dollars
Proceeds from bonds sold or matured
224,900,000 US dollars
Cost of short-term investments acquired
negative 6,000,000 US dollars
Cost of bonds acquired
negative 262,800,000 US dollars
Purchases of property and equipment
negative 4,600,000 US dollars
Financing activities
28,200,000 US dollars. Net cash provided.
Proceeds from borrowings under financing agreement
49,500,000 US dollars
Payments on borrowings under financing agreement
negative 22,700,000 US dollars
Proceeds from stock exercises
1,400,000 US dollars
Operating adjustment reconciliation
99,800,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
50,900,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
273,400,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
1,200,000 US dollars
Ending cash on Jun 30, 2026
380,300,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
415,900,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 6,200,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
negative 3,400,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
4,600,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 8,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$43.40M + net operating adjustments $40.00M = operating cash −$3.40M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: negative 3,400,000 US dollars minus 4,600,000 US dollars equals negative 8,000,000 US dollars.
Lemonade, Inc. (LMND) FY2026 Q2 Statement of Cash Flows Sankey chart
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