What is the 13F Pro Quality Score for LMND?

13F Pro ranks Lemonade, Inc. (LMND) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View LMND's current score at https://13fpro.ai/company/LMND (free sign-up required for the full ranking).

Which hedge funds own the most LMND stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of LMND include BlackRock,, JPMORGAN CHASE & CO, VANGUARD PORTFOLIO MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/LMND as soon as new 13F filings post.

Where does 13F Pro source LMND data?

All Lemonade, Inc. fundamentals and ownership data come directly from SEC EDGAR. Lemonade, Inc. files with the SEC under CIK 1691421. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is LMND in?

Lemonade, Inc. (LMND) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives LMND's revenue?

Per Lemonade, Inc.'s latest 10-Q filed with the SEC on 2026-08-04, the biggest revenue drivers are: Net earned premium ($252.0M, +124% YoY); Ceding commission income ($20.4M, -33% YoY); Net investment income ($9.7M, +3% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/LMND.

What are LMND's largest expenses?

Lemonade, Inc.'s latest 10-Q reports these as the largest expense items: Loss and loss adjustment expense, net ($154.0M, +99% YoY); Sales and marketing ($77.7M, +30% YoY); General and administrative ($47.8M, +85% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is LMND research updated on 13F Pro?

LMND's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Lemonade, Inc.(LMND)Stock Analysis

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Financials →NYSEmid

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SEC EDGAR: CIK 1691421 LMND stock profile & AI dashboard →

13F Pro Quality Score

50.2/100

Rank #1,614 of 2,962 stocks

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

92.9/100

Profitability

22.1/100

Balance Sheet

19.9/100

Earnings Quality

16.5/100

Free Cash Flow

29.0/100

Institutional Flow

54.8/100

Revenue Scale

49.4/100

Dilution Risk

18.3/100

Email me the moment this company reports earnings

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Why LMND Scores 50/100

exact factor attribution · 2026-09-11

LMND's composite is driven by revenue growth, held back by profitability and capital efficiency. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+11.4 pts

93th pct

Institutional flow

+0.3 pts

55th pct

Earnings growth

+0.3 pts

54th pct

Scale

-0.1 pts

49th pct

Shareholder dilution

-2.1 pts

18th pct

Free cash flow

-3.1 pts

29th pct

Earnings quality

-3.4 pts

17th pct

Capital efficiency

-4.0 pts

20th pct

Profitability

-5.6 pts

22th pct

Latest change (2026-08-04): 37 → 41 · ↑ Free cash flow 22→38

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

LMND Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Lemonade, Inc. (LMND), a Financials sector company. 13F Pro's AI-powered ranking engine scores LMND at 50.2/100 on a 32-signal composite quality model, placing it at rank #1,614 of 2,962 stocks — the bottom half of the AI-ranked universe. LMND scores in the top quartile across revenue growth (92.9). Areas of concern include earnings quality (16.5) and balance sheet strength (19.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 18.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Lemonade, Inc. reports quarterly revenue of $294.4M, net income of $-43.4M, an operating margin of -14.2%. Top institutional holders of LMND by reported 13-F value include BlackRock, JPMORGAN CHASE, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. LMND trades on the NYSE exchange and files with the SEC under CIK 1691421. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LMND daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Lemonade, Inc. directly from SEC EDGAR. Lemonade, Inc.'s 13F Pro composite quality score has ranged between 19 and 50 since 2021, currently 50.2 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

✦

Fun facts about Lemonade, Inc.

Quirks, history, and lore behind LMND — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. insurance company · small-cap · listed on the NYSE · headquartered in New York City.
2
The Numbers
Annual revenue in the low hundreds of millions of dollars, with a loss history that's longer than its profit history — classic hypergrowth insurer still chasing the break-even line.
3
The History
Founded in 2015 by a pair of tech entrepreneurs, it went public in 2020 and was briefly a Wall Street darling before the cold reality of insurance loss ratios brought everyone back to earth.
4
The Secret
It runs entirely on artificial intelligence and behavioral economics — its app can approve a policy in 90 seconds and pay a claim in as little as three minutes, no humans required.
5
The Lore
It takes a flat fee from premiums and donates leftover money to charities chosen by policyholders — a model it calls Giveback — to remove the insurer's incentive to deny claims.
6
The Giveaway
Renters, pet, and homeowners insurance — served ice cold, via an app, with a name that sounds refreshingly simple and a stock ticker that's basically a pun on its own product.

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What's Driving LMND's Business? Latest 10-Q Breakdown

✓ 42/42 datapoints verified

AI-extracted from Lemonade, Inc.'s 10-Q filed 2026-08-04 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q2 revenue surged 79% YoY to $294.4M on 34% gross written premium growth and reduced reinsurance cession, though net losses persisted at $43.4M amid continued investments in growth.

Biggest Revenue Drivers

Net earned premium$252.0M+124% YoY

Growth from increased gross written premium and reduced cession rate from reinsurance program (20% vs. prior 55% ceded premium ratio).

Ceding commission income$20.4M-33% YoY

Declined due to reduced cession rate from reinsurance program despite business growth.

Biggest Revenue Drivers

Total revenue: $294.4M+79% YoY

Net earned premium$252.0M+124% YoY

Growth from increased gross written premium and reduced cession rate from reinsurance program (20% vs. prior 55% ceded premium ratio).

Ceding commission income$20.4M-33% YoY

Declined due to reduced cession rate from reinsurance program despite business growth.

Net investment income$9.7M+3% YoY

Driven by diversification of investment portfolio with higher returns, partially offset by investment expenses.

Commission and other income$12.3M+4% YoY

Increased installment fees and premium placed with third-party insurance companies.

Largest Expense Items

Loss and loss adjustment expense, net$154.0M+99% YoY

Growth in premium and reduced cession rate impact, offset by reserve releases from better-than-expected loss emergence on homeowners and car.

Sales and marketing$77.7M+30% YoY

Increased brand and performance advertising spend; advertising and partner payments rose 30% YoY.

General and administrative$47.8M+85% YoY

Employee compensation increased 50%; financing agreement interest expense rose 75% due to higher borrowings.

Technology development$30.0M+34% YoY

Employee expense (net of capitalization) rose 31% from headcount growth; software expense increased 125%.

Margins: Gross profit margin remained stable at 38% of revenue (vs. 39% prior year), while adjusted gross profit margin held at 39%. The company maintained underwriting profitability despite elevated catastrophe exposure; however, elevated operating expenses across sales, technology, and administration drove continued net losses.

Watch Items from the Filing

Company holds $206.4M in outstanding borrowings under General Catalyst financing agreement at 16% rate of return; new $250M Hannover Re facility effective January 2027 at higher cost (3-year Treasury + 5.8%), indicating capital constraints.
Reinsurance program renewed July 1, 2026 with reduced 18% cession rate (from 20%) but expanded catastrophe limits to $40M per occurrence and $100M aggregate, reflecting post-wildfire exposure management.
California concentration significant at 20.5% of Q2 gross written premium; company received $6.9M FAIR Plan assessment in Q1 2025 for January wildfires, with 2-year recoupment approval.
Net loss improved 25% YoY for H1 2026 ($79.2M vs. $106.3M) but company remains unprofitable; adjusted EBITDA negative at $(18.7)M for Q2 versus $(40.9)M prior year.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$294.4M

Net Income

Q2 2026

$-43.4M

Free Cash Flow

Q2 2026

$-8.0M

Operating Margin

Q2 2026

-14.2%

ROIC

Q2 2026

-33.5%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+40.2% YoY

$737.9MFY 2025

FY22 $256.7MFY23 $429.8MFY24 $526.5MFY25 $737.9M

Net Income

+18.2% YoY

$-165.5MFY 2025

FY22 $-297.8MFY23 $-236.9MFY24 $-202.2MFY25 $-165.5M

EPS (Diluted)

+21.4% YoY

$-2.24FY 2025

FY22 $-4.59FY23 $-3.40FY24 $-2.85FY25 $-2.24

Total Assets

+4.1% YoY

$1.93BFY 2025

FY22 $1.69BFY23 $1.63BFY24 $1.85BFY25 $1.93B

Op. Cash Flow

-44.7% YoY

$-16.5MFY 2025

FY22 $-163.0MFY23 $-119.1MFY24 $-11.4MFY25 $-16.5M

Free Cash Flow

-24.5% YoY

$-25.9MFY 2025

FY22 $-173.1MFY23 $-128.3MFY24 $-20.8MFY25 $-25.9M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$737.9M +40.2%	$526.5M +22.5%	$429.8M +67.4%	$256.7M +99.9%	$128.4M +36.0%	$94.4M
Net Income	$-165.5M +18.2%	$-202.2M +14.6%	$-236.9M +20.4%	$-297.8M -23.4%	$-241.3M -97.3%	$-122.3M
EPS (Diluted)	$-2.24 +21.4%	$-2.85 +16.2%	$-3.40 +25.9%	$-4.59 -16.5%	$-3.94 -8.5%	$-3.63
Total Assets	$1.93B +4.1%	$1.85B +13.2%	$1.63B -3.4%	$1.69B +11.9%	$1.51B +82.3%	$828.7M
Operating Cash Flow	$-16.5M -44.7%	$-11.4M +90.4%	$-119.1M +26.9%	$-163.0M -12.7%	$-144.6M -57.7%	$-91.7M
Free Cash Flow	$-25.9M -24.5%	$-20.8M +83.8%	$-128.3M +25.9%	$-173.1M -12.4%	$-154.0M -60.2%	$-96.1M

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Available Research

13F Pro tracks comprehensive data for Lemonade, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of LMND

BlackRock, Inc.
$393.4M6,047,782 sh
JPMORGAN CHASE & CO
$335.5M5,392,829 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$204.3M3,140,615 sh
VANGUARD CAPITAL MANAGEMENT LLC
$199.8M3,071,174 sh
BAILLIE GIFFORD & CO
$179.0M2,751,019 sh
GOLDMAN SACHS GROUP INC
$125.8M1,934,586 sh
STATE STREET CORP
$115.1M1,769,235 sh
GEODE CAPITAL MANAGEMENT, LLC
$112.6M1,730,609 sh
MORGAN STANLEY
$78.9M1,212,762 sh
JANE STREET GROUP, LLC
$76.5M1,175,300 sh

Fund	Value	Shares
BlackRock, Inc.	$393.4M	6,047,782
JPMORGAN CHASE & CO	$335.5M	5,392,829
VANGUARD PORTFOLIO MANAGEMENT LLC	$204.3M	3,140,615
VANGUARD CAPITAL MANAGEMENT LLC	$199.8M	3,071,174
BAILLIE GIFFORD & CO	$179.0M	2,751,019
GOLDMAN SACHS GROUP INC	$125.8M	1,934,586
STATE STREET CORP	$115.1M	1,769,235
GEODE CAPITAL MANAGEMENT, LLC	$112.6M	1,730,609
MORGAN STANLEY	$78.9M	1,212,762
JANE STREET GROUP, LLC	$76.5M	1,175,300

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Is LMND a good stock to buy?

13F Pro's AI-powered analysis of Lemonade, Inc. (LMND) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for LMND are available on the LMND stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. LMND is classified as a mid company.

Which hedge funds own LMND?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling LMND. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Lemonade, Inc.'s investment landscape.