Business
Trupanion Reports First Quarter 2020 Results
SEATTLE, April 30, 2020 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), the leading provider of medical insurance for cats and dogs, today announced
About this update from Trupanion, Inc.
[{"type":"text","content":"SEATTLE, April 30, 2020 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), the leading provider of medical insurance for cats and dogs, today announced financial results for the first quarter ended March 31, 2020.\n “At Trupanion, we understand the power of the pet,” said Darryl Rawlings, Founder and CEO of Trupanion. “In times of uncertainty, heightened anxiety and isolation, our four legged family members become even more important. Trupanion helps pet owners budget for if and when their pet becomes sick or injured. In the coming weeks and months, we expect the need for our product among pet owners to grow, the messaging at the veterinarian level to strengthen, and the value of our patented software to be even greater.” First Quarter 2020 Financial and Business Highlights Total revenue was $111.3 million, an increase of 28% compared to the first quarter of 2019.Total enrolled pets (including pets from our other business segment) was 687,435 at March 31, 2020, an increase of 25% over the first quarter of 2019.Subscription business revenue was $89.5 million, an increase of 21% compared to the first quarter of 2019.Subscription enrolled pets was 508,480 at March 31, 2020, an increase of 14% over the first quarter of 2019.Net loss was $(1.1) million, or $(0.03) per basic and diluted share, compared to a net loss of $(1.3) million, or $(0.04) per basic and diluted share, in the first quarter of 2019.Adjusted EBITDA was $2.0 million, compared to adjusted EBITDA of $1.7 million in the first quarter of 2019.Operating cash flow was $2.9 million and free cash flow was $1.4 million in the first quarter of 2020. This compared to operating cash flow of $4.0 million and free cash flow of $3.1 million in the first quarter of 2019. Revenue by QuarterA chart accompanying this announcement is available at:http://ml.globenewswire.com/Resource/Download/068bfa93-ffcf-4140-ae68-7aab0e6e00a5 Conference CallTrupanion’s management will host a conference call today to review its first quarter 2020 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 http://investors.trupanion.com and will be archived online for 3 months upon completion of the conference call. Participants can access the conference call by dialing 1-877-407-07...