Business
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
About this update from Trupanion, Inc.
[{"type":"text","content":"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 to 2025, our focus remains on sustainable, measured growth while enhancing the member experience and improving retention.” Fourth Quarter 2024 Financial and Business Highlights Total revenue was $337.3 million, an increase of 14% compared to the fourth quarter of 2023.Total enrolled pets (including pets from our other business segment) was 1,677,570 at December 31, 2024, a decrease of 2% over December 31, 2023.Subscription business revenue was $227.8 million, an increase of 19% compared to the fourth quarter of 2023.Subscription enrolled pets was 1,041,212 at December 31, 2024, an increase of 5% over December 31, 2023.Net income was $1.7 million, or $0.04 per basic and diluted share, compared to a net loss of $(2.2) million, or $(0.05) per basic and diluted share, in the fourth quarter of 2023.Adjusted EBITDA was $19.4 million, compared to adjusted EBITDA of $8.5 million in the fourth quarter of 2023.Operating cash flow was $23.7 million and free cash flow was $21.8 million in the fourth quarter of 2024. This compared to operating cash flow of $17.5 million and free cash flow of $13.5 million in the fourth quarter of 2023. Full Year 2024 Financial and Business Highlights Total revenue was $1,286 million, an increase of 16% compared to 2023.Subscription business revenue was $856.5 million, an increase of 20% compared to 2023.Net loss was $(9.6) million, or $(0.23) per basic and diluted share, compared to a net loss of $(44.7) million, or $(1.08) per basic and diluted share, in 2023.Adjusted EBITDA was $46.1 million, compared to adjusted EBITDA of $6.4 million in 2023.Operating cash flow was $48.3 million and free cash flow was $38.6 million in 2024. This compared to operating cash flow of $18.6 million and free cash flow of $0.4 million in 2023.At December 31, 2024, the Company held $307.4 million in cash a...