Company / R&D Expense
Lemonade, Inc. R&D Expense History
FY2018-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$93.9M
FY2025
5-year range
$9.8M / $93.9M
FY2021-FY2025
Trend
+9.4%
vs FY2024
Sector context
#11 of 21
Financials
What the data says
At $94M, Lemonade, Inc.'s r&d expense ranks #11 of 21 in the Financials sector. R&D Expense has fluctuated over the past 8 years, ranging from $5M in FY2020 to $94M in FY2025.
Based on SEC 10-K filings.
$94M in FY2025 with a 5-year CAGR of +82.0%.
Improved from $89M to $94M over the past 2 years.
Financials sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +69.2%
- 5-Year CAGR
- +82.0%
- 10-Year CAGR
- -
Sector benchmark
#11 of 21 in FinancialsTop 52% of 21This company $93.9M Sector average $385.8M
▼
-75.7% below sector average
Key checks
Key Insights
- 5-year CAGR of +82.0%, indicating consistent growth.
- In FY2025, r&d expense increased 9.4% year-over-year.
- Ranks #11 out of 21 companies in the Financials sector.
- Lowest r&d expense in the period was in FY2020.
Company context
Key Data Points
- Altman Z-Score -0.10 (distress zone, below 1.8 threshold)
- Negative profit margin: -26.4%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $93.9M | +9.4% |
| FY2024 | $85.8M | -3.4% |
| FY2023 | $88.8M | +357.7% |
| FY2022 | $19.4M | +98.0% |
| FY2021 | $9.8M | +108.5% |
| FY2020 | $4.7M | -52.0% |
| FY2019 | $9.8M | +108.5% |
| FY2018 | $4.7M | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026