TRUP Trupanion Inc.

Trupanion Reports First Quarter 2025 Results

Trupanion Reports First Quarter 2025 Results

SEATTLE, May 01, 2025 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), a leading provider of medical insurance for cats and dogs, today announced financial results for the first quarter ended March 31, 2025.

“Q1 was a strong start to the year, with performance ahead of plan across key metrics,” said Margi Tooth, Chief Executive Officer and President of Trupanion. “We saw early momentum in both retention and pet acquisition, and with expanded margins in our subscription business, we're well-positioned to continue to invest in growth.”



First Quarter 2025 Financial and Business Highlights

  • Total revenue was $342.0 million, an increase of 12% compared to the first quarter of 2024.
  • Total enrolled pets (including pets from our other business segment) was 1,667,637 at March 31, 2025, a decrease of 2% over March 31, 2024.
  • Subscription business revenue was $233.1 million, an increase of 16% compared to the first quarter of 2024.
  • Subscription enrolled pets was 1,052,845 at March 31, 2025, an increase of 5% over March 31, 2024.
  • Net loss was $(1.5) million, or $(0.03) per basic and diluted share, compared to a net loss of $(6.9) million, or $(0.16) per basic and diluted share, in the first quarter of 2024.
  • Adjusted EBITDA was $12.2 million, compared to adjusted EBITDA of $4.8 million in the first quarter of 2024.
  • Operating cash flow was $16.0 million and free cash flow was $14.0 million in the first quarter of 2025. This compared to operating cash flow of $2.4 million and free cash flow of $(0.6) million in the first quarter of 2024.
  • At March 31, 2025, the Company held $321.8 million in cash and short-term investments, including $48.8 million held outside the insurance entities, with an additional $15.0 million available under its credit facility.

Conference Call

Trupanion’s management will host a conference call today to review its first quarter 2025 results. The call is scheduled to begin shortly after 1:30 p.m. PT/ 4:30 p.m. ET. A live webcast will be accessible through the Investor Relations section of Trupanion’s website at / and will be archived online for 3 months upon completion of the conference call. Participants can access the conference call by dialing 1-866-250-8117 (United States) or 1-412-317-6011 (International). A telephonic replay of the call will also be available after the completion of the call, by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (International) and entering the replay pin number: 10197710.

About Trupanion

Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, and certain countries in Continental Europe with over 1,000,000 pets currently enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol "TRUP". The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered in Canada by Canada Pet Health Insurance Services, Inc. dba Trupanion 309-1277 Lynn Valley Road, North Vancouver, BC V7J 0A2 and in the United States by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). Canada Pet Health Insurance Services, Inc. is a registered damage insurance agency and claims adjuster in Quebec #603927. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. For more information, please visit trupanion.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, expectations, plans, prospects and financial results for Trupanion, including, but not limited to, its expectations regarding its ability to continue to grow its enrollments and revenue, and otherwise execute its business plan. These forward-looking statements are based upon the current expectations and beliefs of Trupanion’s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements made in this press release are based on information available to Trupanion as of the date hereof, and Trupanion has no obligation to update these forward-looking statements.

In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the ability to achieve or maintain profitability and/or appropriate levels of cash flow in future periods; the ability to keep growing our membership base and revenue; the accuracy of assumptions used in determining appropriate member acquisition expenditures; the severity and frequency of claims; the ability to maintain high retention rates; the accuracy of assumptions used in pricing medical plan subscriptions and the ability to accurately estimate the impact of new products or offerings on claims frequency; actual claims expense exceeding estimates; regulatory and other constraints on the ability to institute, or the decision to otherwise delay, pricing modifications in response to changes in actual or estimated claims expense; the effectiveness and statutory or regulatory compliance of our Territory Partner model and of our Territory Partners, veterinarians and other third parties in recommending medical plan subscriptions to potential members; the ability to retain existing Territory Partners and increase the number of Territory Partners and active hospitals; compliance by us and those referring us members with laws and regulations that apply to our business, including the sale of a pet medical plan; the ability to maintain the security of our data; fluctuations in the Canadian currency exchange rate; the ability to protect our proprietary and member information; the ability to maintain our culture and team; the ability to maintain the requisite amount of risk-based capital; our ability to implement and maintain effective controls, including to remediate material weaknesses in internal controls over financial reporting; the ability to protect and enforce Trupanion’s intellectual property rights; the ability to successfully implement our alliance with Aflac; the ability to continue key contractual relationships with third parties; third-party claims including litigation and regulatory actions; the ability to recognize benefits from investments in new solutions and enhancements to Trupanion’s technology platform and website; our ability to retain key personnel; and deliberations and determinations by the Trupanion board based on the future performance of the company or otherwise.

For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the Securities and Exchange Commission (SEC), including but not limited to, Trupanion’s Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequently filed reports on Forms 10-Q, 10-K and 8-K. All documents are available through the SEC’s Electronic Data Gathering Analysis and Retrieval system at or the Investor Relations section of Trupanion’s website at

Non-GAAP Financial Measures

Trupanion’s stated results may include certain non-GAAP financial measures. These non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in its industry as other companies in its industry may calculate or use non-GAAP financial measures differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Trupanion’s reported financial results. The presentation and utilization of non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Trupanion urges its investors to review the reconciliation of its non-GAAP financial measures to the most directly comparable GAAP financial measures in its consolidated financial statements, and not to rely on any single financial or operating measure to evaluate its business. These reconciliations are included below and on Trupanion's Investor Relations website.

Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses, Trupanion believes that providing various non-GAAP financial measures that exclude stock-based compensation expense and depreciation and amortization expense allows for more meaningful comparisons between its operating results from period to period. Trupanion offsets new pet acquisition expense with sign-up fee revenue in the calculation of net acquisition cost because it collects sign-up fee revenue from new members at the time of enrollment and considers it to be an offset to a portion of Trupanion’s new pet acquisition expense. Trupanion believes this allows it to calculate and present financial measures in a consistent manner across periods. Trupanion’s management believes that the non-GAAP financial measures and the related financial measures derived from them are important tools for financial and operational decision-making and for evaluating operating results over different periods of time.

Trupanion, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except share data)
  Three Months Ended March 31,
   2025   2024 
 (unaudited)
Revenue:    
Subscription business $233,064  $201,134 
Other business  108,911   104,987 
Total revenue  341,975   306,121 
Cost of revenue:    
Subscription business  189,845   172,132 
Other business  101,027   97,762 
Total cost of revenue(1),(2)  290,872   269,894 
Operating expenses:    
Technology and development(1)  8,072   6,960 
General and administrative(1)  19,892   14,673 
New pet acquisition expense(1)  20,516   16,843 
Depreciation and amortization  3,791   3,785 
Total operating expenses  52,271   42,261 
Loss from investment in joint venture  (305)  (103)
Operating loss  (1,473)  (6,137)
Interest expense  3,211   3,596 
Other (income), net  (3,240)  (2,843)
Loss before income taxes  (1,444)  (6,890)
Income tax (benefit) expense  39   (38)
Net loss $(1,483) $(6,852)
     
Net loss per share:    
Basic and diluted $(0.03) $(0.16)
Weighted average shares of common stock outstanding:    
Basic and diluted  42,775,955   41,917,094 
     
(1)Includes stock-based compensation expense as follows:

  Three Months Ended March 31,
   2025   2024 
Cost of revenue $1,259  $1,390 
Technology and development  1,151   1,254 
General and administrative  4,528   3,449 
New pet acquisition expense  2,892   2,059 
Total stock-based compensation expense $9,830  $8,152 
     
(2)The breakout of cost of revenue between veterinary invoice expense and other cost of revenue is as follows:
  Three Months Ended March 31,
   2025   2024 
Veterinary invoice expense $247,450  $233,569 
Other cost of revenue  43,422   36,325 
Total cost of revenue $290,872  $269,894 



Trupanion, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except share data)
 March 31,

2025
 December 31,

2024
 (unaudited)  
Assets   
Current assets:   
Cash and cash equivalents$166,308  $160,295 
Short-term investments 155,508   147,089 
Accounts and other receivables, net of allowance for credit losses of $1,046 at March 31, 2025 and $1,117 at December 31, 2024 290,104   274,031 
Prepaid expenses and other assets 16,417   15,912 
Total current assets 628,337   597,327 
Restricted cash 39,702   39,235 
Long-term investments 376   373 
Property, equipment and internal-use software, net 101,938   102,191 
Intangible assets, net 12,130   13,177 
Other long-term assets 16,356   17,579 
Goodwill 38,323   36,971 
Total assets$837,162  $806,853 
Liabilities and stockholders’ equity   
Current liabilities:   
Accounts payable$9,681  $11,532 
Accrued liabilities and other current liabilities 36,907   33,469 
Reserve for veterinary invoices 54,042   51,635 
Deferred revenue 267,357   251,640 
Long-term debt - current portion 1,350   1,350 
Total current liabilities 369,337   349,626 
Long-term debt 127,526   127,537 
Deferred tax liabilities 1,884   1,946 
Other liabilities 4,742   4,476 
Total liabilities 503,489   483,585 
Stockholders’ equity:   
Common stock: $0.00001 par value per share, 100,000,000 shares authorized; 43,804,141 and 42,775,955 issued and outstanding at March 31, 2025; 43,516,631 and 42,488,445 shares issued and outstanding at December 31, 2024     
Preferred stock: $0.00001 par value per share, 10,000,000 shares authorized; no shares issued and outstanding     
Additional paid-in capital 578,293   568,302 
Accumulated other comprehensive loss (715)  (2,612)
Accumulated deficit (227,371)  (225,888)
Treasury stock, at cost: 1,028,186 shares at March 31, 2025 and December 31, 2024 (16,534)  (16,534)
Total stockholders’ equity 333,673   323,268 
Total liabilities and stockholders’ equity$837,162  $806,853 



Trupanion, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)
 Three Months Ended March 31,
  2025   2024 
 (unaudited)
Operating activities   
Net loss$(1,483) $(6,852)
Adjustments to reconcile net loss to cash provided by operating activities:   
Depreciation and amortization 3,791   3,785 
Stock-based compensation expense 9,830   8,152 
Other, net 349   (202)
Changes in operating assets and liabilities:   
Accounts and other receivables (15,965)  (10,718)
Prepaid expenses and other assets (204)  287 
Accounts payable, accrued liabilities, and other liabilities 1,527   (5,131)
Reserve for veterinary invoices 2,407   (885)
Deferred revenue 15,712   13,998 
Net cash provided by operating activities 15,964   2,434 
Investing activities   
Purchases of investment securities (40,875)  (19,193)
Maturities and sales of investment securities 33,242   19,005 
Purchases of property, equipment, and internal-use software (1,928)  (3,065)
Other 588   516 
Net cash used in investing activities (8,973)  (2,737)
Financing activities   
Repayment of debt financing (338)  (338)
Proceeds from exercise of stock options 1,024   372 
Shares withheld to satisfy tax withholding (915)  (245)
Other (230)  (75)
Net cash used in financing activities (459)  (286)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash, net (52)  (313)
Net change in cash, cash equivalents, and restricted cash 6,480   (902)
Cash, cash equivalents, and restricted cash at beginning of period 199,530   170,464 
Cash, cash equivalents, and restricted cash at end of period$206,010  $169,562 



The following tables set forth our key operating metrics.
                
 Three Months Ended March 31,            
  2025   2024             
Total Business:               
Total pets enrolled (at period end) 1,667,637   1,708,017             
Subscription Business:               
Total subscription pets enrolled (at period end) 1,052,845   1,006,168             
Monthly average revenue per pet$77.53  $69.79             
Average pet acquisition cost (PAC)$267  $207             
Average monthly retention 98.28%  98.41%            
                
                
 Three Months Ended
 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024 Dec. 31, 2023 Sep. 30, 2023 Jun. 30, 2023
Total Business:               
Total pets enrolled (at period end) 1,667,637   1,677,570   1,688,903   1,699,643   1,708,017   1,714,473   1,712,177   1,679,659 
Subscription Business:               
Total subscription pets enrolled (at period end) 1,052,845   1,041,212   1,032,042   1,020,934   1,006,168   991,426   969,322   943,958 
Monthly average revenue per pet$77.53  $76.02  $74.27  $71.72  $69.79  $67.07  $65.82  $64.41 
Average pet acquisition cost (PAC)$267  $261  $243  $231  $207  $217  $212  $236 
Average monthly retention 98.28%  98.25%  98.29%  98.34%  98.41%  98.49%  98.55%  98.61%



The following table reflects the reconciliation of cash provided by operating activities to free cash flow (in thousands):
    
 Three Months Ended March 31,
  2025   2024 
Net cash provided by operating activities$15,964  $2,434 
Purchases of property, equipment, and internal-use software (1,928)  (3,065)
Free cash flow$14,036  $(631)



The following tables reflect the reconciliation between GAAP and non-GAAP measures (in thousands except percentages):
 Three Months Ended March 31,
  2024   2023 
Veterinary invoice expense$247,450  $233,569 
Less:   
Stock-based compensation expense(1) (763)  (862)
Other business cost of paying veterinary invoices(3) (79,269)  (81,213)
Subscription cost of paying veterinary invoices (non-GAAP)$167,418  $151,494 
% of subscription revenue 71.8%  75.3%
    
Other cost of revenue$43,422  $36,325 
Less:   
Stock-based compensation expense(1) (482)  (420)
Other business variable expenses(3) (21,736)  (16,498)
Subscription variable expenses (non-GAAP)$21,204  $19,407 
% of subscription revenue 9.1%  9.6%
    
Technology and development expense$8,072  $6,960 
General and administrative expense 19,892   14,673 
Less:   
Stock-based compensation expense(1) (5,396)  (4,258)
Development expenses(2) (1,406)  (1,178)
Fixed expenses (non-GAAP)$21,162  $16,197 
% of total revenue 6.2%  5.3%
    
New pet acquisition expense$20,516  $16,843 
Less:   
Stock-based compensation expense(1) (2,873)  (1,857)
Other business pet acquisition expense(3) (3)  (13)
Subscription acquisition cost (non-GAAP)$17,640  $14,973 
% of subscription revenue 7.6%  7.4%
    
(1) Trupanion employees may elect to take restricted stock units in lieu of cash payment for their bonuses. We account for such expense as stock-based compensation according to GAAP, but we do not include it in any non-GAAP adjustments. Stock-based compensation associated with bonuses was approximately $0.3 million for the three months ended March 31, 2025.
(2) Consists of costs related to product exploration and development that are pre-revenue and historically have been insignificant.
(3) Excluding the portion of stock-based compensation expense attributable to the other business segment.



The following tables reflect the reconciliation of GAAP measures to non-GAAP measures (in thousands, except percentages):
 Three Months Ended March 31,
  2025   2024 
Operating Loss$(1,473) $(6,138)
Non-GAAP expense adjustments   
Acquisition cost 17,643   14,985 
Stock-based compensation expense(1) 9,514   7,397 
Development expenses(2) 1,406   1,179 
Depreciation and amortization 3,791   3,785 
Gain (loss) from investment in joint venture (305)  (103)
Total adjusted operating income (non-GAAP)$31,186  $21,312 
    
Subscription Business:   
Subscription operating income (loss)$1,065  $(4,525)
Non-GAAP expense adjustments   
Acquisition cost 17,640   14,973 
Stock-based compensation expense(1) 7,772   5,882 
Development expenses(2) 958   774 
Depreciation and amortization 2,584   2,487 
Subscription adjusted operating income (non-GAAP)$30,019  $19,591 
    
Other Business:   
Other business operating loss$(2,233) $(1,510)
Non-GAAP expense adjustments   
Acquisition cost 3   12 
Stock-based compensation expense(1) 1,742   1,516 
Development expenses(2) 448   404 
Depreciation and amortization 1,207   1,298 
Other business adjusted operating income (non-GAAP)$1,167  $1,720 
    
(1) Trupanion employees may elect to take restricted stock units in lieu of cash payment for their bonuses. We account for such expense as stock-based compensation in accordance with GAAP, but we do not include it in any non-GAAP adjustments. Stock-based compensation associated with bonuses was approximately $0.3 million for the three months ended March 31, 2025.
(2) Consists of costs related to product exploration and development that are pre-revenue and historically have been insignificant.



The following tables reflect the reconciliation of GAAP measures to non-GAAP measures (in thousands, except percentages):
        
 Three Months Ended March 31,
  2025   2024 
Subscription revenue$233,064  $201,134 
Subscription cost of paying veterinary invoices 167,418   151,493 
Subscription variable expenses 21,204   19,407 
Subscription fixed expenses* 14,423   10,642 
Subscription adjusted operating income (non-GAAP)$30,019  $19,591 
Other business revenue 108,911   104,987 
Other business cost of paying veterinary invoices 79,269   81,213 
Other business variable expenses 21,736   16,498 
Other business fixed expenses* 6,739   5,555 
Other business adjusted operating income (non-GAAP)$1,167  $1,721 
Revenue 341,975   306,121 
Cost of paying veterinary invoices 246,687   232,707 
Variable expenses 42,940   35,905 
Fixed expenses* 21,162   16,197 
Total business adjusted operating income (non-GAAP)$31,186  $21,312 
    
As a percentage of revenue:Three Months Ended March 31,
  2024   2023 
Subscription revenue 100.0%  100.0%
Subscription cost of paying veterinary invoices 71.8%  75.3%
Subscription variable expenses 9.1%  9.6%
Subscription fixed expenses* 6.2%  5.3%
Subscription adjusted operating income (non-GAAP) 12.9%  9.7%
    
Other business revenue 100.0%  100.0%
Other business cost of paying veterinary invoices 72.8%  77.4%
Other business variable expenses 20.0%  15.7%
Other business fixed expenses* 6.2%  5.3%
Other business adjusted operating income (non-GAAP) 1.1%  1.6%
    
Revenue 100.0%  100.0%
Cost of paying veterinary invoices 72.1%  76.0%
Variable expenses 12.6%  11.7%
Fixed expenses* 6.2%  5.3%
Total business adjusted operating income (non-GAAP) 9.1%  7.0%
    
*Fixed expenses represent shared services that support both our subscription and other business segments and, as such, are generally allocated to each segment pro-rata based on revenues.



Adjusted operating income is a non-GAAP financial measure that adjusts operating income (loss) to remove the effect of acquisition cost, development expenses, non-recurring transaction or restructuring expenses, and gain (loss) from investment in joint venture. Non-cash items, such as stock-based compensation expense and depreciation and amortization, are also excluded. Acquisition cost, development expenses, gain (loss) from investment in joint venture, stock-based compensation expense, and depreciation and amortization are expected to remain recurring expenses for the foreseeable future, but are excluded from this metric to measure scale in other areas of the business. Management believes acquisition costs primarily represent the cost to acquire new subscribers and are driven by the amount of growth we choose to pursue based primarily on the amount of our adjusted operating income period over period. Accordingly, this measure is not indicative of our core operating income performance. We also exclude development expenses, gain (loss) from investment in joint venture, stock-based compensation expense, and depreciation and amortization because some investors may not view those items as reflective of our core operating income performance.

Management uses adjusted operating income and the margin on adjusted operating income to understand the effects of scale in its non-acquisition cost and development expenses and to plan future advertising expenditures, which are designed to acquire new pets. Management uses this measure as a principal way of understanding the operating performance of its business exclusive of acquisition cost and new product exploration and development initiatives. Management believes disclosure of this metric provides investors with the same data that the Company employs in assessing its overall operations and that disclosure of this measure may provide useful information regarding the efficiency of our utilization of revenues, return on advertising dollars in the form of new subscribers and future use of available cash to support the continued growth of our business.

The following tables reflect the reconciliation of adjusted EBITDA to net loss (in thousands):
                
 Three Months Ended March 31,            
  2025   2024             
Net loss$(1,483) $(6,852)            
Excluding:               
Stock-based compensation expense 9,514   7,398             
Depreciation and amortization expense 3,791   3,785             
Interest income (2,835)  (3,045)            
Interest expense 3,211   3,596             
Income tax expense (benefit) 39   (38)            
Adjusted EBITDA$12,237  $4,844             
                
 Three Months Ended
 Mar. 31, 2025 Dec. 31, 2024 Sep. 30, 2024 Jun. 30, 2024 Mar. 31, 2024 Dec. 31, 2023 Sep. 30, 2023 Jun. 30, 2023
Net (loss) income$(1,483) $1,656  $1,425  $(5,862) $(6,852) $(2,163) $(4,036) $(13,714)
Excluding:               
Stock-based compensation expense 9,514   8,036   8,127   8,381   7,398   6,636   6,585   6,503 
Depreciation and amortization expense 3,791   3,924   4,381   4,376   3,785   3,029   2,990   3,253 
Interest income (2,835)  (2,999)  (3,232)  (3,135)  (3,045)  (2,842)  (2,389)  (2,051)
Interest expense 3,211   3,427   3,820   3,655   3,596   3,697   3,053   2,940 
Income tax expense (benefit) 39   38   39   (44)  (38)  130   (43)  (238)
Goodwill impairment charges    5,299                   
Non-recurring transaction or restructuring expenses                   8   65 
(Gain) loss from equity method investment       (33)           (110)   
Adjusted EBITDA$12,237  $19,381  $14,527  $7,371  $4,844  $8,487  $6,058  $(3,242)
 

Contacts:

Investors:

Laura Bainbridge, Senior Vice President, Corporate Communications

Gil Melchior, Director, Investor Relations

A photo accompanying this announcement is available at



EN
01/05/2025

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Trupanion, Inc. Announces First Quarter 2025 Earnings Release and Conf...

Trupanion, Inc. Announces First Quarter 2025 Earnings Release and Conference Call SEATTLE, April 17, 2025 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), a leader in medical insurance for cats and dogs, announced today it will report financial results for its 2025 first quarter after the market closes on Thursday, May 1, 2025. The company will host a conference call that day beginning shortly after 1:30 p.m. PT / 4:30 p.m. ET. A live webcast discussing results, guidance and management observations will be available on Trupanion's Investor Relations site under Investor Events at  and ...

 PRESS RELEASE

Trupanion to Participate in the 46th Annual Raymond James Institutiona...

Trupanion to Participate in the 46th Annual Raymond James Institutional Investor Conference SEATTLE, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), a leader in medical insurance for cats and dogs, announced today that Fawwad Qureshi, Chief Financial Officer, will present at the 46th Annual Raymond James Institutional Investor Conference on Monday, March 3, 2025, at 8:05 a.m. ET and will participate in meetings with investors throughout the day. The presentation will be webcast live and can be accessed on Trupanion’s Investor Relations website at . About Trupanion: Tr...

 PRESS RELEASE

Trupanion Reports Fourth Quarter & Full Year 2024 Results

Trupanion Reports Fourth Quarter & Full Year 2024 Results SEATTLE, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), a leading provider of medical insurance for cats and dogs, today announced financial results for the fourth quarter and full year ended December 31, 2024. “2024 was a milestone year for Trupanion. Strong execution drove 20% subscription revenue growth, the doubling of our subscription margin in Q4 from its quarterly low in 2023, and a record $39 million in free cash flow,” said Margi Tooth, Chief Executive Officer and President of Trupanion. “As we look t...

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