---
schema_version: "secwatch.filing_event.v1"
accession: "0001371285-23-000141"
form_type: "8-K"
ticker: "TRUP"
cik: "0001371285"
company_name: "TRUPANION, INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T21:21:23.084736+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Trupanion Q1 revenue $256.3M (+24% YoY) but net loss widens to $(24.8)M; subscription pets +23%

## Summary
- Total revenue $256.3M (+24% YoY); subscription revenue $165.2M (+18% YoY, +20% constant currency).
- Net loss $(24.8)M ($(0.60)/share) vs $(8.9)M ($(0.22)/share) in Q1 2022; includes $8.6M non-recurring items.
- Adjusted EBITDA $(4.9)M vs positive $1.2M last year; operating cash flow $(6.9)M; free cash flow $(12.0)M.
- Total enrolled pets 1,616,865 (+28% YoY); subscription enrolled pets 906,369 (+23% YoY).
- CEO cites 15% veterinary inflation pressuring margins but driving demand; focusing on margin targets.

## SEC filing metadata
- accession: 0001371285-23-000141
- form_type: 8-K
- ticker: TRUP
- cik: 0001371285
- company_name: TRUPANION, INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1371285/000137128523000141/0001371285-23-000141-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1371285/000137128523000141/trup-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001371285-23-000141
- JSON: https://secwatch.observer/filing/0001371285-23-000141.json
- Plain text: https://secwatch.observer/filing/0001371285-23-000141.txt

## Key facts
- Earnings Releases
  TRUPANION, INC. reported the first quarter ended March 31, 2023 results: revenue $256.3 million, net income $(24.8) million, EPS $(0.60) per basic and diluted share.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $256.3 million
  - Net income: $(24.8) million
  - EPS: $(0.60) per basic and diluted share
  - Result: reported results
  source text: on successfully executing the second half of our 60-month plan and achieving our margin targets." First Quarter 2023 Financial and Business Highlights • Total revenue was $256.3 million, an increase of 24% compared to the first quarter of 2022. • Total enrolled pets (including pets from our other business segment) was 1,616,865 at March 31, 2023, an increase of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1371285/000137128523000141/0001371285-23-000141-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.