LMND Lemonade margins

Relative Growth: Rel. Growth: 80

Relative Strength: Rel. Strength: 18

Relative Valuation: Rel. Valuation: 14

Relative Profitability: Rel. Profitability: 32

Gross margin

41.7%

Operating margin

-13.7%

EBITDA margin

-12.5%

Net margin

-14.2%

Lemonade shows a gross margin of 41.7%, an operating margin of -13.7%, an EBITDA margin of -12.5%, and a net margin of -14.2%, but its operating margin is negative at -13.7%, its EBITDA margin is negative at -12.5%, and its net margin is negative at -14.2%. Operating margin drove the improvement across the available margins, increasing by 20.9 percentage points.

LMND margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Lemonade's margins averaged 32.95% gross, -34.09% operating, -30.87% EBITDA, and -34.69% net. All four current margins are above their three-year averages.

LMND margin expansion

Year-over-year margin changes in percentage points

Year over year, gross, operating, EBITDA, and net margins all increased, with operating margin showing the largest gain at 20.9 percentage points.

Gross margin expansion

6.9pp

Operating margin expansion

20.9pp

EBITDA margin expansion

18.9pp

Net margin expansion

19.8pp

LMND Gross margin

Over the last 3 years, Lemonade's gross margin averaged 32.95%. The current gross margin of 41.7% is 8.8 percentage points above its three-year average. During this period, gross margin reached a high of 42.4% in Mar 2026 and a low of 21% in Dec 2023.

LMND Operating margin

Reviewing the last 3 years, Lemonade recorded an average operating margin of -34.09%. Lemonade's current operating margin is -13.7% and is 20.4 percentage points above its three-year average. The highest operating margin for Lemonade was -13.7% in Jun 2026, while the lowest was -53.5% in Dec 2023.

LMND EBITDA margin

In the last 3 years, Lemonade had an average EBITDA margin of -30.87%. Against its three-year average, Lemonade's EBITDA margin is currently -12.5%, 18.4 percentage points above its three-year average. Looking back over the last 3 years, Lemonade's EBITDA margin reached -12.5% at its highest point in Jun 2026 and -48.8% at its lowest in Dec 2023.

LMND Net margin

In the last 3 years, Lemonade had an average net margin of -34.69%. Against its three-year average, Lemonade's net margin is currently -14.2%, 20.5 percentage points above its three-year average. Looking back over the last 3 years, Lemonade's net margin reached -14.2% at its highest point in Jun 2026 and -55.1% at its lowest in Dec 2023.

LMND margin group comparison

Margins compared with peer-group, industry and sector averages

Lemonade's gross margin of 41.7% is lower than the Financial Services sector, the industry and its peers average. Looking at the Financial Services sector average of 83.4%, Lemonade's gross margin is 50% lower.

LMND margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Lemonade's gross margin?

For the period ending Jun 30, 2026, LMND recorded a gross margin of 41.7%.

What is Lemonade's operating margin?

As of Jun 30, 2026, LMND has an operating margin of -13.7%.

What is Lemonade's EBITDA margin?

As of Jun 30, 2026, LMND has an EBITDA margin of -12.5%.

What is Lemonade's net margin?

As of Jun 30, 2026, LMND has a negative net margin of -14.2%.

What are the average margins of LMND?

Lemonade's average margins over the last 3 years were 33.0% gross, -34.1% operating, -30.9% EBITDA, and -34.7% net.

What are the highest historical margins of LMND?

Across the 5-year period, LMND posted its highest margins at 42.4% gross in Mar 2026, -13.7% operating in Jun 2026, -12.5% EBITDA in Jun 2026, and -14.2% net in Jun 2026.

What are the lowest historical margins of LMND?

Across the 5-year period, LMND posted its lowest margins at 14.9% gross in Jun 2023, -181.9% operating in Dec 2021, -179% EBITDA in Dec 2021, and -187.9% net in Dec 2021.