Business
Trupanion Reports Second Quarter 2020 Results
SEATTLE, Aug. 04, 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, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), the leading provider of medical insurance for cats and dogs, today announced financial results for the second quarter ended June 30, 2020.\n “Across key financial and operational metrics, it was a very strong quarter for Trupanion,” said Darryl Rawlings, Founder and CEO of Trupanion. “I’m particularly proud of our service levels we provided to our members, which contributed to records in monthly average retention and the number of pet owners adding pets or referring friends to Trupanion in the quarter.” Second Quarter 2020 Financial and Business Highlights Total revenue was $117.9 million, an increase of 28% compared to the second quarter of 2019.Total enrolled pets (including pets from our other business segment) was 744,727 at June 30, 2020, an increase of 29% over the second quarter of 2019.Subscription business revenue was $92.5 million, an increase of 19% compared to the second quarter of 2019. On a constant currency basis, subscription business revenue increased 20% over the prior year period. Subscription enrolled pets was 529,400 at June 30, 2020, an increase of 15% over the second quarter of 2019.Net income was $1.4 million, or $0.04 per basic and diluted share, compared to a net loss of $(1.9) million, or $(0.06) per basic and diluted share, in the second quarter of 2019.Adjusted EBITDA was $5.5 million, compared to adjusted EBITDA of $1.3 million in the second quarter of 2019.Operating cash flow was $4.9 million and free cash flow was $3.1 million in the second quarter of 2020. This compared to operating cash flow of $2.9 million and free cash flow of $2.0 million in the second quarter of 2019. First Half 2020 Financial and Business Highlights Total revenue was $229.2 million, an increase of 28% compared to the first half of 2019.Subscription business revenue was $181.9 million, an increase of 20% compared to the first half of 2019.Net income was $0.2 million, or $0.01 per basic and diluted share, compared to a net loss of $(3.2) million, or $(0.09) per basic and diluted share, in the first half of 2019.Adjusted EBITDA was $7.5 million, compared to adjusted EBITDA of $3.0 million in the first half of 2019.Operating cash flow was $7.8 million and free cash flow was $4.5 million for the first half of 2020. This compared to operating cash flow of ...