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Condensed Financial Information Of Parent Company | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Of Parent Company |
Condensed Financial Information Of Parent Company | CONDENSED BALANCE SHEETS (Parent Company) ($ in millions, except share and per share amounts) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31,
​ |  | 2018 |  | 2019
Assets | ​ | ​ |  |  | ​ |
Cash, cash equivalents and restricted cash | ​ | $ | 76.4 | ​ | $ | 239.7
Intercompany receivable | ​ |  | 10.4 | ​ |  | 22.2
Property and equipment, net | ​ |  | 0.5 | ​ |  | 1.9
Intangible asset | ​ |  | — | ​ |  | 0.6
Other assets | ​ |  | 1.2 | ​ |  | 1.7
Investment in subsidiaries | ​ |  | 35.4 | ​ |  | 61.9
Total assets | ​ | $ | 123.9 | ​ | $ | 328.0
Liabilities, Convertible Preferred Stock and Stockholders’ Equity (Deficit) | ​ |  |  | ​ |  |
Trade payables | ​ |  | 1.3 | ​ |  | 0.2
Intercompany payable | ​ |  | 8.5 | ​ |  | 15.1
Other liabilities | ​ |  | 6.2 | ​ |  | 10.7
Total liabilities | ​ |  | 16.0 | ​ |  | 26.0
Commitments and contingencies | ​ |  |  | ​ |  |
Convertible preferred stock (Series Seed, A, B, C and D), $0.00001 par value; 24,449,177 shares and 31,557,107 shares authorized; 24,445,555 shares and 31,557,107 shares issued and outstanding as of December 31, 2018 and 2019, respectively; aggregate liquidation preference of $480.8 million as of December 31, 2019 | ​ |  | 180.8 | ​ |  | 480.2
Stockholders’ equity (deficit): | ​ |  |  | ​ |  |
Common stock, $0.00001 par value, 42,000,000 shares and 52,000,000 shares authorized as of December 31, 2018 and 2019, respectively; 11,602,708 shares and 11,784,765 shares issued and 10,983,684 shares and 11,271,228 shares outstanding as of December 31, 2018 and 2019, respectively | ​ |  | — | ​ |  | —
Additional paid‑in capital | ​ |  | 0.7 | ​ |  | 3.9
Accumulated deficit | ​ |  | (73.6) | ​ |  | (182.1)
Total stockholders’ equity (deficit) | ​ |  | (72.9) | ​ |  | (178.2)
Total liabilities, convertible preferred stock and stockholders’ equity (deficit) | ​ | $ | 123.9 | ​ | $ | 328.0
CONDENSED STATEMENTS OF OPERATIONS (Parent Company) ($ in millions, except share and per share amounts) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended
​ | ​ | December 31,
​ |  | 2018 |  | 2019
Revenue | ​ | ​ |  |  | ​ |
Net investment income | ​ | $ | 1.0 | ​ | $ | 2.4
Total revenue | ​ |  | 1.0 | ​ |  | 2.4
Expense | ​ |  |  | ​ |  |
General and administrative | ​ |  | 7.6 | ​ |  | 20.2
Total expense | ​ |  | 7.6 | ​ |  | 20.2
Loss before equity in net loss of subsidiaries | ​ |  | (6.6) | ​ |  | (17.8)
Equity in net loss of subsidiaries | ​ |  | (46.4) | ​ |  | (90.7)
Net loss | ​ | $ | (53.0) | ​ | $ | (108.5)
CONDENSED STATEMENTS OF CASH FLOWS (Parent Company) ($ in millions, except share and per share amounts) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended
​ | ​ | December 31,
​ |  | 2018 |  | 2019
Cash flows from operating activities: | ​ | ​ |  |  | ​ |
Net loss | ​ | $ | (53.0) | ​ | $ | (108.5)
Adjustments to reconcile net loss to net cash used in operating activities: | ​ |  |  | ​ |  |
Depreciation | ​ |  | 0.1 | ​ |  | 0.3
Stock‑based compensation | ​ |  | 0.7 | ​ |  | 2.3
Change in fair value of warrant liability | ​ |  | 0.2 | ​ |  | —
Equity in undistributed earnings of subsidiaries | ​ |  | 46.4 | ​ |  | 90.7
Change in assets and liabilities | ​ |  |  | ​ |  |
Intercompany receivable | ​ |  | (0.7) | ​ |  | (11.8)
Other assets | ​ |  | (0.7) | ​ |  | (0.5)
Trade payable | ​ |  | (0.7) | ​ |  | (1.1)
Intercompany payable | ​ |  | (0.3) | ​ |  | 6.6
Other liabilities | ​ |  | 5.8 | ​ |  | 4.9
Net cash used in operating activities | ​ |  | (2.2) | ​ |  | (17.1)
Cash flows from investing activities: | ​ |  |  | ​ |  |
Investments in subsidiaries | ​ |  | (55.4) | ​ |  | (117.2)
Purchases of property and equipment | ​ |  | (0.5) | ​ |  | (1.7)
Purchases of intangible assets | ​ |  | — | ​ |  | (0.6)
Net cash used in investing activities | ​ |  | (55.9) | ​ |  | (119.5)
Cash flows from financing activities: | ​ |  |  | ​ |  |
Issuance of Preferred stock, net | ​ |  | 119.8 | ​ |  | 299.4
Proceeds from stock purchases | ​ |  | 0.1 | ​ |  | 0.5
Net cash provided by financing activities | ​ |  | 119.9 | ​ |  | 299.9
Increase in cash, cash equivalents and restricted cash | ​ |  | 61.8 | ​ |  | 163.3
Cash, cash equivalents and restricted cash at beginning of period | ​ |  | 14.6 | ​ |  | 76.4
Cash, cash equivalents and restricted cash at end of period | ​ | $ | 76.4 | ​ | $ | 239.7
LEMONADE, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (Parent Company) 1. Business Lemonade, Inc. (the “Company”) is an insurance holding company that was incorporated in Delaware on June 17, 2015. 2. Accounting Policies The accompanying condensed financial statements have been prepared using the equity method. Under the equity method, the investment in consolidated subsidiaries is stated at cost plus equity in undistributed earnings of consolidated subsidiaries since the date of acquisition. These condensed financial statements should be read in conjunction with the Company’s consolidated financial statements. Use of estimates Preparation of the condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying disclosures. Those estimates are inherently subject to change, and actual results may ultimately differ from those estimates.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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