Lemonade (LMND) Research & Development (2019 - 2026)
Lemonade (LMND) reported Research & Development of $30 million for Q2 2026, up 33.9% from $22.4 million a year earlier and up 11.5% from the prior quarter.
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Analysis
Lemonade (LMND) Research & Development (2019 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Lemonade's Research & Development came in at $106.4 million, up 20.8% year-over-year; for FY2025, it came in at $93.9 million, up 9.4% from FY2024.
- Research & Development has a five-year compound annual growth rate of 37.1% (FY2020 to FY2025).
- By year, Research & Development came in at $85.8 million in FY2024 (-3.4%), $88.8 million in FY2023 (+11.6%), $79.6 million in FY2022 (+53.7%) and $51.8 million in FY2021 (+167.0%).
- The Q2 2026 figure ranks as the highest quarterly Research & Development in data going back to Q2 2019.
- Year over year, Research & Development has now increased in each of the last eight quarters, with growth averaging 12.2% over the last eight quarters.
- The high point for year-over-year Research & Development in five years was Q3 2021 (growth of 169.8%); the low point was Q2 2024 (a decline of 12.0%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $26.9 million (Q1 2026), $24.8 million (Q4 2025) and $24.7 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,083.69 Bn | -333.79 Bn | 55.86 Bn | - |
| 2 | Chubb | 127.81 Bn | 79.86 Bn | 9.13 Bn | - |
| 3 | Progressive | 121.79 Bn | 97.63 Bn | 9.04 Bn | - |
| 4 | Marsh & Mclennan Companies | 80.80 Bn | 72.54 Bn | - | - |
| 5 | Travelers Companies | 75.76 Bn | 52.01 Bn | 6.23 Bn | - |
| 6 | Manulife Financial | 74.06 Bn | 75.27 Bn | - | - |
| 7 | Metlife | 61.12 Bn | -45.36 Bn | 7.82 Bn | - |
| 8 | Arthur J. Gallagher | 58.82 Bn | 53.25 Bn | - | - |
| 9 | Allstate | 57.81 Bn | 19.06 Bn | 8.73 Bn | - |
| 10 | Lemonade | 3.40 Bn | 1.81 Bn | - | 30.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 30.00 Mn |
| Mar 31, 2026 | 26.90 Mn |
| Dec 31, 2025 | 24.80 Mn |
| Sep 30, 2025 | 24.70 Mn |
| Jun 30, 2025 | 22.40 Mn |
| Mar 31, 2025 | 22.00 Mn |
| Dec 31, 2024 | 21.80 Mn |
| Sep 30, 2024 | 21.90 Mn |
| Jun 30, 2024 | 21.20 Mn |
| Mar 31, 2024 | 20.90 Mn |
| Dec 31, 2023 | 21.10 Mn |
| Sep 30, 2023 | 21.80 Mn |
| Jun 30, 2023 | 24.10 Mn |
| Mar 31, 2023 | 21.80 Mn |
| Dec 31, 2022 | 23.50 Mn |
| Sep 30, 2022 | 21.40 Mn |
| Jun 30, 2022 | 17.80 Mn |
| Mar 31, 2022 | 16.90 Mn |
| Dec 31, 2021 | 16.40 Mn |
| Sep 30, 2021 | 14.30 Mn |
API Access
Lemonade Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=LMND&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "LMND", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=LMND&period=max&api_key=YOUR_API_KEY");
const data = await res.json();