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Sep 30, 2021
Trupanion Q3 2021 Earnings Report
Trupanion's Q3 2021 financial results reflected strong momentum and continued growth, with strategic reinvestments in its portfolio.
Key Takeaways
Trupanion reported a 40% increase in total revenue, reaching $181.7 million in Q3 2021. The company's total enrolled pets increased by 37% year-over-year, while subscription business revenue grew by 28%. Despite these gains, Trupanion experienced a net loss of $(6.8) million, or $(0.17) per share, impacted by increased stock-based compensation and depreciation and amortization.
Total revenue increased by 40% to $181.7 million compared to Q3 2020.
Total enrolled pets reached 1,104,376, a 37% increase year-over-year.
Subscription business revenue grew by 28% to $127.1 million compared to Q3 2020.
Net loss was $(6.8) million, or $(0.17) per share, impacted by increased stock-based compensation and depreciation and amortization.
Forward Guidance
The press release contains forward-looking statements related to expectations, plans, prospects and financial results for Trupanion, including expectations regarding its ability to continue to grow its enrollments and revenue, implement its alliance with Aflac and otherwise execute its business plan.
Positive Outlook
- Ability to achieve or maintain profitability and/or appropriate levels of cash flow in future periods
- Ability to keep growing our membership base and revenue
- Ability to maintain high retention rates
- Effectiveness and statutory or regulatory compliance of our Territory Partner model
- Ability to retain existing Territory Partners and increase the number of Territory Partners and active hospitals
Challenges Ahead
- Accuracy of assumptions used in determining appropriate member acquisition expenditures
- Severity and frequency of claims
- Accuracy of assumptions used in pricing medical plan subscriptions and the ability to accurately estimate the impact of new products or offerings on claims frequency
Historical Earnings Impact
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Avg. Return Before/After Earnings
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