LMND Stock Balance Sheets
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Quarterly Balance Sheets
Quarterly
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Annual
| Unit: USD | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| assets | |||||||||||||||
| investments | |||||||||||||||
| fixed maturities available-for-sale, at fair value | 627,400,000 | 633,400,000 | 676,800,000 | 648,500,000 | 650,300,000 | 693,100,000 | 674,100,000 | 694,700,000 | 691,400,000 | 697,600,000 | 71,200,000 | 6,500,000 | 6,600,000 | 6,700,000 | 6,700,000 |
| short-term investments | 45,800,000 | 73,400,000 | 71,300,000 | 89,400,000 | 99,800,000 | 142,800,000 | 85,900,000 | 83,200,000 | 110,400,000 | 107,500,000 | 15,000,000 | 29,900,000 | |||
| total investments | 673,200,000 | 706,800,000 | 748,100,000 | 737,900,000 | 750,100,000 | 835,900,000 | 760,000,000 | 777,900,000 | 801,800,000 | 805,100,000 | 71,200,000 | 6,500,000 | 6,600,000 | 21,700,000 | 36,600,000 |
| cash, cash equivalents and restricted cash | 271,500,000 | 238,100,000 | 193,800,000 | 254,800,000 | 286,500,000 | 225,000,000 | 235,000,000 | 270,600,000 | 319,600,000 | 1,092,700,000 | 1,174,700,000 | 571,400,000 | 575,700,000 | 258,800,000 | |
| premium receivable, net of allowance for credit losses of 2.5 million and 2.7 million as of december 31, 2023 and 2022, respectively | 222,000,000 | ||||||||||||||
| reinsurance recoverable | 138,400,000 | 144,600,000 | 164,400,000 | 153,700,000 | 156,800,000 | 136,300,000 | 110,300,000 | 112,500,000 | 89,800,000 | 70,800,000 | 64,700,000 | 65,800,000 | 49,000,000 | 42,200,000 | 26,200,000 |
| prepaid reinsurance premium | 196,300,000 | 197,600,000 | 166,600,000 | 159,800,000 | 164,500,000 | 181,600,000 | 168,900,000 | 156,700,000 | 149,600,000 | 150,200,000 | 120,300,000 | 104,400,000 | 91,300,000 | 86,200,000 | |
| deferred acquisition costs | 8,800,000 | 8,100,000 | 6,600,000 | 6,900,000 | 6,900,000 | 7,600,000 | 7,400,000 | 6,700,000 | 6,200,000 | 6,000,000 | 4,900,000 | 4,100,000 | 3,500,000 | 3,300,000 | 2,500,000 |
| property and equipment | 17,400,000 | 17,400,000 | 19,000,000 | 19,800,000 | 19,600,000 | 19,100,000 | 13,200,000 | 13,000,000 | 11,700,000 | 10,800,000 | 8,800,000 | 6,900,000 | 5,700,000 | 5,100,000 | 4,300,000 |
| intangible assets | 22,900,000 | 25,200,000 | 27,500,000 | 29,800,000 | 32,500,000 | 35,700,000 | 600,000 | 600,000 | 600,000 | 600,000 | 600,000 | 600,000 | 600,000 | 600,000 | 600,000 |
| goodwill | 19,000,000 | 19,000,000 | 19,000,000 | 19,000,000 | 19,000,000 | 10,900,000 | |||||||||
| other assets | 63,800,000 | 67,600,000 | 70,300,000 | 74,500,000 | 75,200,000 | 73,100,000 | 53,300,000 | 57,400,000 | 53,200,000 | 29,400,000 | 16,000,000 | 16,000,000 | 14,500,000 | 13,900,000 | 6,000,000 |
| total assets | 1,633,300,000 | 1,647,600,000 | 1,613,100,000 | 1,641,200,000 | 1,690,700,000 | 1,712,900,000 | 1,460,900,000 | 1,495,400,000 | 1,510,500,000 | 1,521,700,000 | 1,487,300,000 | 1,477,500,000 | 828,700,000 | 831,500,000 | 399,900,000 |
| liabilities and stockholders' equity | |||||||||||||||
| unpaid losses and loss adjustment expenses | 262,300,000 | 256,200,000 | 97,900,000 | 46,300,000 | |||||||||||
| unearned premium | 353,700,000 | 355,600,000 | 315,900,000 | 297,800,000 | 288,000,000 | 294,100,000 | 241,600,000 | 222,400,000 | 207,700,000 | 203,200,000 | 166,000,000 | 143,500,000 | 123,800,000 | 115,300,000 | 86,900,000 |
| trade payables | 600,000 | 2,700,000 | 700,000 | 1,900,000 | 1,100,000 | 1,500,000 | 1,300,000 | 2,600,000 | 1,000,000 | 3,000,000 | 1,300,000 | 1,000,000 | 1,400,000 | 1,000,000 | 600,000 |
| funds held for reinsurance treaties | 128,800,000 | 131,100,000 | 129,300,000 | 129,100,000 | 136,000,000 | 131,700,000 | 119,200,000 | 108,200,000 | 103,100,000 | 97,100,000 | 77,600,000 | 66,000,000 | 62,100,000 | 52,400,000 | |
| deferred ceding commission | 41,400,000 | 39,100,000 | 41,600,000 | 39,500,000 | 39,700,000 | 43,000,000 | 42,100,000 | 38,800,000 | 36,500,000 | 36,100,000 | 30,100,000 | 26,000,000 | |||
| ceded premium payable | 23,200,000 | 36,300,000 | 19,200,000 | 20,900,000 | 18,400,000 | 24,900,000 | 21,000,000 | 34,800,000 | 18,700,000 | 24,800,000 | 18,000,000 | 15,300,000 | |||
| borrowings under financing agreement | 14,900,000 | 7,700,000 | |||||||||||||
| other liabilities and accrued expenses | 99,500,000 | 93,100,000 | 79,800,000 | 85,000,000 | 84,500,000 | 90,300,000 | 63,700,000 | 68,300,000 | 57,400,000 | 35,500,000 | 28,000,000 | 19,800,000 | 54,100,000 | ||
| total liabilities | 924,400,000 | 920,700,000 | 842,100,000 | 819,400,000 | 823,900,000 | 806,100,000 | 611,800,000 | 582,700,000 | 522,300,000 | 473,700,000 | 385,700,000 | 333,800,000 | 287,700,000 | 262,500,000 | 141,300,000 |
| commitments and contingencies | |||||||||||||||
| stockholders' equity | |||||||||||||||
| common stock | |||||||||||||||
| additional paid-in capital | 1,814,500,000 | 1,800,200,000 | 1,784,700,000 | 1,769,600,000 | 1,754,100,000 | 1,738,100,000 | 1,582,500,000 | 1,568,200,000 | 1,553,500,000 | 1,539,500,000 | 1,525,900,000 | 1,512,300,000 | 859,800,000 | 855,000,000 | 33,900,000 |
| accumulated deficit | -1,096,600,000 | -1,054,200,000 | -992,700,000 | -925,500,000 | -859,700,000 | -796,000,000 | -704,600,000 | -636,700,000 | -561,900,000 | -491,600,000 | -425,200,000 | -369,600,000 | -320,600,000 | -286,700,000 | -255,800,000 |
| accumulated other comprehensive loss | -9,000,000 | -19,100,000 | -21,000,000 | -22,300,000 | -27,600,000 | -35,300,000 | -28,800,000 | -18,800,000 | |||||||
| total stockholders' equity | 708,900,000 | 726,900,000 | 771,000,000 | 821,800,000 | 866,800,000 | 906,800,000 | 849,100,000 | 912,700,000 | 988,200,000 | 1,048,000,000 | 1,101,600,000 | 1,143,700,000 | 541,000,000 | 569,000,000 | |
| total liabilities and stockholders' equity | 1,633,300,000 | 1,647,600,000 | 1,613,100,000 | 1,641,200,000 | 1,690,700,000 | 1,712,900,000 | 1,460,900,000 | 1,495,400,000 | 1,510,500,000 | 1,521,700,000 | 1,487,300,000 | 1,477,500,000 | |||
| premium receivable, net of allowance for credit losses of 2.5 million and 2.7 million as of september 30, 2023 and december 31, 2022, respectively | 223,200,000 | ||||||||||||||
| unpaid loss and loss adjustment expense | 255,100,000 | 255,600,000 | 245,200,000 | 220,600,000 | 122,900,000 | 107,600,000 | 74,000,000 | 64,700,000 | 62,200,000 | ||||||
| premium receivable, net of allowance for credit losses of 2.4 million and 2.7 million as of june 30, 2023 and december 31, 2022, respectively | 197,800,000 | ||||||||||||||
| contingencies | |||||||||||||||
| premium receivable, net of allowance for credit losses of 2.7 million and 2.7 million as of march 31, 2023 and december 31, 2022, respectively | 185,000,000 | ||||||||||||||
| premium receivable, net of allowance for credit losses of 2.7 million and 1.6 million as of december 31, 2022 and 2021, respectively | 179,600,000 | ||||||||||||||
| premium receivable, net of allowance for credit losses of 2.7 million and 1.6 million as of september 30, 2022 and december 31, 2021, respectively | 187,700,000 | ||||||||||||||
| cash and cash equivalents | 199,600,000 | ||||||||||||||
| premium receivable, net of allowance for credit losses of 2.2 million and 1.6 million as of june 30, 2022 and december 31, 2021, respectively | 147,600,000 | ||||||||||||||
| premium receivable, net of allowance for credit losses of 1.9 million and 1.6 million as of march 31, 2022 and december 31, 2021 | 135,600,000 | ||||||||||||||
| premium receivable, net of allowance for credit losses of 1.6 million and 0.5 million as of december 31, 2021 and 2020 | 127,000,000 | ||||||||||||||
| accumulated other comprehensive income | -3,400,000 | 100,000 | 900,000 | 1,000,000 | 1,800,000 | 700,000 | 300,000 | ||||||||
| premium receivable, net of allowance for doubtful accounts of 1.0 million and 0.5 million as of september 30, 2021 and december 31, 2020 | 129,200,000 | ||||||||||||||
| premium receivable, net of allowance for doubtful accounts of 0.7 million and 0.5 million as of june 30, 2021 and december 31, 2020 | 108,100,000 | ||||||||||||||
| stockholders' equity: | |||||||||||||||
| premium receivable, net of allowance for doubtful accounts of 0.5 million and 0.5 million as of march 31, 2021 and december 31, 2020 | 98,500,000 | ||||||||||||||
| liabilities, convertible preferred stock and stockholders' equity | |||||||||||||||
| liabilities, convertible preferred stock and stockholders' deficit | |||||||||||||||
| stockholders' deficit: |