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.
Trupanion's management is focused on executing the second half of their 60-month plan and achieving their margin targets, while navigating veterinary inflation.
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