---
schema_version: "secwatch.filing_event.v1"
accession: "0001691421-26-000006"
form_type: "8-K"
ticker: "LMND"
cik: "0001691421"
company_name: "Lemonade, Inc."
filed_at: "2026-02-19T23:59:59+00:00"
generated_at: "2026-05-16T01:46:41.343284+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lemonade Q4 2025: IFP $1.24B (+31%), revenue $228M (+53%), Adj. EBITDA loss narrows to $5M; guides FY26 IFP growth 32%

## Summary
- Q4 2025 revenue $228M (+53% YoY); GAAP net loss $22M improves 28%; gross profit $111M (+73%) with gross loss ratio 52%.
- In Force Premium $1.237B (+31%); total customers 2.98M (+23%); premium per customer $414 (+7%).
- Adjusted EBITDA loss $5M, improving $19M YoY; Adj. free cash flow $37M, operating cash flow $21M.
- FY 2026 guidance: IFP growth 32% (up 200bps from prior view); Adj. EBITDA loss ($52M)-($48M) (>50% improvement); expects positive Adj. EBITDA in Q4 2026.
- Segment highlights: Pet IFP $439M (+55%), Europe IFP $60M (+150%), Car IFP $187M (+53%) with loss ratio improvements of 1pt, 16pts, 23pts respectively.

## SEC filing metadata
- accession: 0001691421-26-000006
- form_type: 8-K
- ticker: LMND
- cik: 0001691421
- company_name: Lemonade, Inc.
- filed_at: 2026-02-19T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1691421/000169142126000006/0001691421-26-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1691421/000169142126000006/lmnd-20260219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001691421-26-000006
- JSON: https://secwatch.observer/filing/0001691421-26-000006.json
- Plain text: https://secwatch.observer/filing/0001691421-26-000006.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.