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Private company

Metromile

Technology start-up based in San Francisco

Metromile, Inc. is a technology start-up based in San Francisco that provides pay-per-mile car insurance. The company also licenses its digital insurance platform to insurance companies worldwide and offers a digitally native product that includes smart driving features, automated claims, and vehicle information. In July 2022, Metromile was acquired by Lemonade, Inc.3 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

  • IndustryFire, Marine & Casualty Insurance1
  • HeadquartersSan Francisco1
  • Websitewww.metromile.com
  • Legal formcompany1
  • Incorporated inDE4
  • Business address425 Market Street #700, San Francisco, Ca 19104941054
  • Filer categoryLarge accelerated filer4

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Photo: Mercurywoodrose, CC BY-SA 4.0, via Wikimedia Commons6

Metromile, Inc. is a technology start-up based in San Francisco that provides pay-per-mile car insurance. The company also licenses its digital insurance platform to insurance companies worldwide and offers a digitally native product that includes smart driving features, automated claims, and vehicle information. In July 2022, Metromile was acquired by Lemonade, Inc.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2021

-188.5%Operating margin7
-206.4%Net margin7
199.2%Revenue growth, 20217
-116.1%Return on equity7
0.00×Debt to equity7
-$102.7MFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2021

  • Research and development15¢$16.0M
  • Other costs69¢$72.9M
  • Interest15¢$16.0M

Out of $104.9M in revenue.7 The company lost money this year.

Financial statements

Revenue7$104.9M in 2021+199% since 2020
0$50.0M$100.0M$150.0M2020: $35.1M$35.1M20202021: $104.9M$104.9M2021+199%
Operating income87-$197.7M in 2021
-$200.0M-$150.0M-$100.0M-$50.0M0$50.0M2019: $976$97620192020: -$44.8M-$44.8M20202021: -$197.7M-$197.7M2021+341%
Net income87-$216.5M in 2021+22178076% since 2019
-$300.0M-$200.0M-$100.0M02019: -$976-$97620192020: -$120.1M-$120.1M2020+12304920%2021: -$216.5M-$216.5M2021+80%
Fiscal year2018201920202021
Revenue$35.1M7$104.9M7
Research and development$8.2M7$16.0M7
Operating expenses$302.6M7
Operating income$9768-$44.8M7-$197.7M7
Interest$6.1M7$16.0M7
Income before tax-$216.5M7
Income tax-$84.0K7$07
Net income-$9768-$120.1M7-$216.5M7
Earnings per share-$13.517-$1.897
Earnings per share (diluted)-$13.517-$1.897
Shares (weighted, basic)114.6M shares7
Shares (weighted, diluted)114.6M shares7

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Corporate structure

Metromile sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Metromile

  • Metromile San Francisco

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Metromile reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$81.8M7 Dec 31, 2021$64.5M7 Dec 31, 2020+26.8%
Property and equipment, before depreciation$22.6M7 Dec 31, 2021$24.0M7 Dec 31, 2020−5.9%
Accumulated depreciation$8.9M7 Dec 31, 2021$11.3M7 Dec 31, 2020−20.9%
Property and equipment, net$13.7M7 Dec 31, 2021$12.7M7 Dec 31, 2020+7.4%
Operating-lease assets (leased space)$14.2M7 Dec 31, 2021

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$120.9M7 Dec 31, 2021$19.1M7 Dec 31, 2020+531.5%
Debt securities available for sale$62.6M7 Dec 31, 2021$24.7M7 Dec 31, 2020+154.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$7.5M7 Dec 31, 2021$7.5M7 Dec 31, 20200%

The story

Metromile was founded in Redwood City, California, in 2011 by David Friedberg and Steve Pretre. David Friedberg currently sits as the chairman of the board, and the company is led by CEO Dan Preston. In 2013, the company moved its headquarters to San Francisco and in April 2015 added a second office space. A new location was opened in Boston in April 2015 and in Tempe in May 2015. In September 2016 they announced a new round of $192 million in funding and acquired a carrier which enabled them to start underwriting their own policies. The company became publicly listed in February 2021 in a reverse merger deal, supported by Betsy Z. Cohen who also joined the company’s board of directors.

On November 8, 2021, Lemonade, Inc. announced that it would acquire Metromile in an all-stock transaction, which implied a fully diluted equity value of approximately $500 million, or around $200 million net of cash. The acquisition completed on 28 July 2022. Following the acquisition, Lemonade laid off 20% of Metromile's staff.

From Wikipedia’s article on Metromile, shared under CC BY-SA 4.0.5

Leadership

Who has led Metromile, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Dan Preston2021–2022

Chief financial officer

  1. Joseph W. Pooler Jr.2020
  2. Regi Vengalil2021–2022
2025
Board members and other officers (15)

Former names

  • Metromile, Inc.Dec 23, 2020 to Jul 28, 20224
  • INSU Acquisition Corp. IIJul 30, 2020 to Feb 9, 20214

Timeline

  1. Jul 28, 20228-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights27
  2. Jun 14, 20228-K Other events28
  3. May 10, 20228-K Results of operations29
  4. Feb 28, 20228-K Results of operations30
  5. Feb 2, 20228-K Shareholder vote; Regulation FD disclosure31
  6. Jan 21, 20228-K Other events32
  7. Dec 28, 20218-K Executive or director change33
  8. Dec 16, 20218-K Executive or director change34
  9. Nov 15, 20218-K Results of operations35
  10. Nov 9, 20218-K Entered a material agreement36
  11. Nov 8, 20218-K Other events37
  12. Oct 13, 20218-K Executive or director change38
  13. Feb 11, 2021New chief executive Dan Preston becomes CEO10

Calendar

When it reported results

  1. May 10, 2022Reported quarterly or annual results29
  2. Feb 28, 2022Reported quarterly or annual results30
  3. Nov 15, 2021Reported quarterly or annual results35

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

54 filings to the SEC since October 2021: 2 annual reports, 3 quarterly reports, 12 major events, 12 insider forms, 7 large holders, 18 other. The latest 20:

  1. Aug 8, 202215-12G EDGAR
  2. Aug 3, 2022S-8 POS EDGAR
  3. Aug 1, 20224 FORM 4 SUBMISSION EDGAR
  4. Jul 29, 20224 EDGAR
  5. Jul 29, 20224 EDGAR
  6. Jul 29, 20224 EDGAR
  7. Jul 29, 20224 EDGAR
  8. Jul 29, 20224 EDGAR
  9. Jul 29, 20224 EDGAR
  10. Jul 29, 20224 EDGAR
  11. Jul 28, 202210-Q/A EDGAR
  12. Jul 28, 202210-K/A EDGAR
  13. Jul 28, 20228-K EDGAR
  14. Jun 14, 20228-K CURRENT REPORT EDGAR
  15. May 31, 2022SC 13D/A EDGAR
  16. May 10, 202210-Q EDGAR
  17. May 10, 20228-K EDGAR
  18. Mar 22, 2022424B3 EDGAR
  19. Mar 21, 2022EFFECT EDGAR
  20. Mar 11, 2022POS AM EDGAR

The 54 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 18, 2021Friedberg David ADirectorSale2,500,000$2.74$6.8MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Metromile is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMetromile, LLC2
  • CIK0001819035
  • Employer ID (EIN)84-49161342
  • Filer statusLarge accelerated filer2
  • Incorporated inDelaware2
  • Fiscal year endsDecember 312
  • Industry code (SIC)6331 Fire, Marine & Casualty Insurance2
  • Business address425 Market Street #700, San Francisco, CA 19104941052
  • Phone88824252042
  • Shares outstanding130,419,773 as of May 6, 202245
  • Public float$809.0M as of Jun 30, 202146
  • On EDGAR sinceJul 30, 20202
  • Filings210 in all: 4 (42), 8-K (31), 3 (23), 425 (19), SC 13G (10), CORRESP (9), 4/A (8), SC 13G/A (8)2
    All 35 form types

    UPLOAD (6), 10-Q (5), 424B3 (5), EFFECT (5), S-1/A (4), 8-K/A (3), POS AM (3), S-4/A (3), SC 13D (3), 10-K (2), 10-K/A (2), 25-NSE (2), DEFA14A (2), S-1 (2), 10-Q/A (1), 15-12G (1), 424B4 (1), 5 (1), 8-A12B (1), CERT (1), DEFM14A (1), NT 10-Q (1), S-1MEF (1), S-4 (1), S-8 (1), S-8 POS (1), SC 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 28, 2022
    Quarterly report (10-Q) May 10, 2022
    Latest 8-K (8-K) Jul 28, 2022

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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