Business
Trupanion Reports Third Quarter 2021 Results
SEATTLE, Nov. 03, 2021 (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, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), the leading provider of medical insurance for cats and dogs, today announced financial results for the third quarter ended September 30, 2021. “Q3 marks the continuation of our strong momentum, as shown in our key financial measures. We continue to grow the funds available to us to reinvest in our portfolio and deploy this capital at compounding high rates of return,” said Darryl Rawlings, founder and chief executive officer of Trupanion. Third Quarter 2021 Financial and Business Highlights Total revenue was $181.7 million, an increase of 40% compared to the third quarter of 2020.Total enrolled pets (including pets from our other business segment) was 1,104,376 at September 30, 2021, an increase of 37% over the third quarter of 2020.Subscription business revenue was $127.1 million, an increase of 28% compared to the third quarter of 2020 (26% on a constant currency basis).Subscription enrolled pets was 676,463 at September 30, 2021, an increase of 22% over the third quarter of 2020.Net loss was $(6.8) million, or $(0.17) per basic and diluted share, compared to net loss of $(2.6) million, or $(0.07) per basic and diluted share, in the third quarter of 2020. Net loss per share was impacted by $0.10 due to an increase in stock-based compensation and by $0.03 due to an increase in depreciation and amortization when compared to the prior year period.Adjusted EBITDA was $2.2 million, compared to adjusted EBITDA of $1.8 million in the third quarter of 2020.Operating cash flow was $6.2 million and free cash flow was $3.5 million in the third quarter of 2021. This is compared to operating cash flow of $9.8 million and free cash flow of $8.5 million in the third quarter of 2020. First Nine Months of 2021 Financial and Business Highlights Total revenue was $504.6 million, an increase of 40% compared to the first nine months of 2020.Subscription business revenue was $360.7 million, an increase of 28% compared to the first nine months of 2020.Net loss was $(28.5) million, or $(0.71) per basic and diluted share, compared to net loss of $(2.3) million, or $(0.07) per basic and diluted share, in the first nine months of 2020. Net loss per share was impacted by $0.38 due to an increase in stock-based compensation and by $0.11 due to an increase in depreciation and amorti...