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Mar 31, 2023
Trupanion Q1 2023 Earnings Report
Trupanion's financial performance in Q1 2023, marked by strong revenue growth amidst veterinary inflation, which pressured margins.
Key Takeaways
Trupanion's Q1 2023 saw a 24% increase in total revenue to $256.3 million, driven by strong demand despite veterinary inflation increasing 15% year-over-year. The company reported a net loss of $(24.8) million, or $(0.60) per share, which included $8.6 million of non-recurring expenses, and an adjusted EBITDA of $(4.9) million. Total enrolled pets reached 1,616,865, a 28% increase year-over-year.
Total revenue increased by 24% to $256.3 million compared to Q1 2022.
Total enrolled pets grew by 28% to 1,616,865 as of March 31, 2023.
Subscription business revenue increased by 18% to $165.2 million compared to Q1 2022.
Net loss was $(24.8) million, or $(0.60) per share, including $8.6 million in non-recurring expenses.
Forward Guidance
Trupanion's management is focused on executing the second half of their 60-month plan and achieving their margin targets, while navigating veterinary inflation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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