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Trupanion, Inc. (NASDAQ: TRUP) is a leading provider of medical insurance for pets, offering comprehensive coverage for cats and dogs. Founded in 2000 and headquartered in Seattle, WA, Trupanion has grown significantly over the past two decades, enrolling over 1,000,000 pets across the United States, Canada, Europe, Puerto Rico, and Australia. The company stands out in the pet insurance industry for its superior coverage, exceptional customer service, and innovative technology.
Trupanion operates through two primary business segments. The subscription business segment generates revenue primarily from subscription fees for its direct-to-consumer products. The other business segment includes revenue from policies written on behalf of third parties and other product offerings that generally have a different margin profile.
Recently, Trupanion has made significant strides in expanding its market reach and enhancing its service offerings. The company has implemented a patented process that allows pet owners to pay veterinarians directly in seconds at the time of checkout, a unique feature that sets Trupanion apart from its competitors. Additionally, Trupanion announced a 29% rate increase approved by the California Department of Insurance, reflecting the rising costs of veterinary care and the company's commitment to pricing its services accurately.
In leadership news, Trupanion's board of directors has appointed Margi Tooth as the new CEO, effective August 1, 2024. Tooth, who has been with the company for over a decade, will continue to serve as President and join the Board of Directors. Under her leadership, Trupanion has achieved significant milestones, including surpassing $1 billion in revenue and paying nearly $3 billion in veterinary invoices.
Trupanion prides itself on quick claims resolution and providing the best medical insurance care available. The company is also focused on expanding its footprint throughout North America and is actively seeking ambitious, data-driven individuals with a passion for pets to join their team. Whether as a territory partner or a team member at their headquarters, Trupanion offers opportunities for growth and the chance to make a meaningful impact in a market with immense potential.
For investors, Trupanion's commitment to operational efficiency and strategic growth initiatives makes it a promising player in the pet insurance market. The company's financial performance has shown consistent growth, with a 22% year-over-year increase in subscription revenue in the first quarter of 2024 and a 55% increase in discretionary profit from its core subscription business.
Trupanion is listed on NASDAQ under the symbol 'TRUP' and continues to innovate and lead in the pet medical insurance space. For more information, visit trupanion.com.
Trupanion (Nasdaq: TRUP), a leading provider of medical insurance for cats and dogs, has announced its participation in the 46th Annual Raymond James Institutional Investor Conference. Chief Financial Officer Fawwad Qureshi will deliver a presentation on Monday, March 3, 2025, at 8:05 a.m. ET.
The event will include investor meetings throughout the day, and interested parties can access the live webcast of the presentation through Trupanion's Investor Relations website at http://investors.trupanion.com.
Trupanion (TRUP) reported strong Q4 and full-year 2024 results, marking significant improvements in financial performance. Q4 total revenue reached $337.3 million, up 14% year-over-year, with subscription business revenue increasing 19% to $227.8 million. The company achieved a net income of $1.7 million in Q4, compared to a loss in the same period of 2023.
For the full year 2024, total revenue grew 16% to $1,286 million, with subscription revenue up 20% to $856.5 million. The company significantly improved its financial position, reducing net loss to $(9.6) million from $(44.7) million in 2023. Free cash flow reached a record $38.6 million for the year, compared to $0.4 million in 2023. Total enrolled pets slightly decreased by 2% to 1,677,570, while subscription enrolled pets increased by 5% to 1,041,212.
Trupanion (TRUP) has scheduled its Q4 and full-year 2024 earnings release and conference call for Wednesday, February 19, 2025. The financial results will be released after market close, followed by a conference call starting shortly after 1:30 p.m. PT / 4:30 p.m. ET.
The company will provide a live webcast with management observations and guidance on their Investor Relations website, which will remain accessible for 3 months after the call. A slide presentation will also be available. Investors can join via phone using 1-877-300-8521 (US) or 1-412-317-6026 (International). A replay will be available using 1-844-512-2921 (US) or 1-412-317-6671 (International) with pin number 10194900.
Trupanion (Nasdaq: TRUP), North America's leading provider of pet medical insurance, has been recognized as one of Built In's Best Places to Work in Seattle for 2025, marking its 6th consecutive year receiving this honor. The company secured positions on both the Best Places to Work in Seattle and 100 Best Large Places to Work in Seattle lists.
The selection process evaluated key workforce criteria including compensation, wellness benefits, time off, flexible work opportunities, DEI initiatives, and cultural offerings. CEO Margi Tooth emphasized the company's dedication to creating an environment that supports both personal and professional growth.
Built In's annual awards program encompasses companies of various sizes, from startups to enterprises, recognizing both remote-first employers and companies across major U.S. tech markets. Built In CEO Maria Christopoulos Katris highlighted that this recognition demonstrates the companies' commitment to fostering environments where innovation and individual growth flourish.
URvet Care has announced a partnership with Trupanion (TRUP) to implement their Vet Direct Pay solution, joining over 11,000 veterinary hospitals across North America. This collaboration enables Trupanion to directly pay their portion of pet medical bills to URvet Care at checkout in under a minute, addressing a significant financial barrier in veterinary care. According to Trupanion's survey data, pet parents typically stop treatment when costs reach $1,500. This partnership aims to reduce financial stress for pet owners and allow veterinary staff to focus on providing optimal care without concerns about payment uncertainty.
Trupanion (Nasdaq: TRUP) has been recognized with six 2024 VIBE Awards for outstanding employee benefits. The pet insurance provider secured top employer status in Work Flexibility, Retirement Benefits, Professional Development, Health and Wellness, Parental Benefits, and Vacation Benefits categories.
The VIBE (Voted In By Employees) Awards, presented by The Muse, are particularly significant as they are based on employee recommendations. The Muse, an online career resource platform, acknowledges companies that demonstrate exceptional commitment to employee well-being and benefits.
Brenna McGibney, Trupanion's Chief Administrative Officer, emphasized the company's dedication to offering competitive benefits that promote employee wellbeing. CEO Margi Tooth highlighted how these benefits support teams working around the clock to assist pet owners during emergencies.
Trupanion (Nasdaq:TRUP) reports significant musculoskeletal claims in 2023, including 61,000 limping, 35,000 CCL rupture, 32,000 arthritis, and 1,200 hip dysplasia cases. Cold weather particularly affects older pets, with seniors showing dramatically higher claim rates than younger animals.
Key findings show senior dogs are 2,476% more likely to develop arthritis than younger dogs, while senior cats face a 3,724% higher risk. The average arthritis claim costs $272 for dogs and $233 for cats, with the highest single claim reaching $19,829.
From 2019-2023, Trupanion handled over 208,138 limping claims, with 8% of insured dogs and 1.8% of cats affected. The company emphasizes the importance of early pet insurance enrollment to avoid pre-existing condition limitations, as cold weather can aggravate joint conditions through thickened joint fluid and barometric pressure changes.
Trupanion has reached a significant milestone, surpassing $3 billion in medical bill payments to veterinarians and pet parents, with the milestone payment going to Lexi, a 9-year-old Maltipoo from Florida. Since its founding in 2000, the company has helped over 2.4 million pets and processed more than 11.1 million veterinary invoices. The company processes approximately $1.5 million in claims daily, with allergies being the top condition for dogs ($128.4M in claims) and renal failure leading cat claims ($9.6M). Trupanion stands out as North America's only pet insurer offering direct veterinarian payments within seconds.
Trupanion hosted a successful Tricked Out for Treats Pet-tacular event that saw participation from over 77,000 people, 2,000 pets, and 120 shelters and rescue organizations. The event featured a Halloween costume contest where participants could submit photos of their pets, compete for prizes, and vote across eight categories. One notable success story was the adoption of Bass, an 18-week-old Pomsky, highlighting Trupanion's commitment to supporting pet adoption and strengthening the bond between pets and their owners.
Trupanion (TRUP) reported strong Q3 2024 financial results with total revenue of $327.5 million, up 15% year-over-year. The company achieved net income of $1.4 million ($0.03 per share), compared to a net loss of $(4.0) million in Q3 2023. Subscription business revenue grew 20% to $219.0 million, with enrolled pets reaching 1,032,042, a 6% increase. Adjusted EBITDA improved to $14.5 million from $6.1 million last year. The company generated $13.4 million in free cash flow and maintained $293.1 million in cash and short-term investments.
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