Trupanion Q1 revenue +19% to $306M, net loss narrows; CEO Rawlings to step down, Tooth appointed

TRUPANION, INC.

2024-Q1 EPS reported -$0.16 revenue$306,121,000

Total revenue $306.1M (+19% YoY); subscription revenue $201.1M (+22% YoY) with enrolled pets up 11%.
Net loss $6.9M ($0.16 loss per share) vs $24.8M loss ($0.60) in Q1 2023; Adjusted EBITDA $4.8M vs -$4.9M.
Free cash flow -$0.6M vs -$12.0M; cash $275.2M; insurance surplus $256.7M vs RBC requirement of $153.3M.
Founder/CEO Darryl Rawlings to step down Aug 1, remains Chair; President Margi Tooth appointed CEO effective Aug 1, to join Board.
Rawlings enters consulting agreement for pet food program with $200k annual fee.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Darryl Rawlings

Chief Executive Officer

TRUP · TRUPANION, INC.

Effective: 2024-08-01
Successor: Margi Tooth
Filed: May 2, 2024, 7:59 PM ET

submitted his resignation as CEO, effective August 1, 2024

Appointed

Margaret Tooth

Chief Executive Officer

TRUP · TRUPANION, INC.

Effective: 2024-08-01
Filed: May 2, 2024, 7:59 PM ET

the Board appointed Margaret ("Margi") Tooth, the Company's President, as the CEO, to be effective as of August 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TRUPANION, INC. reported the first quarter ended March 31, 2024 results: revenue $306.1 million, net income $(6.9) million, or $(0.16) per basic and diluted share, EPS $(0.16) per basic and diluted share.

Period: the first quarter ended March 31, 2024
Revenue: $306.1 million
Net income: $(6.9) million, or $(0.16) per basic and diluted share
EPS: $(0.16) per basic and diluted share
Result: reported results

Exact text from the filing

generation with the intention of gradually increasing our spending on growth as our margins expand." First Quarter 2024 Financial and Business Highlights • Total revenue was $306.1 million, an increase of 19% compared to the first quarter of 2023. • Total enrolled pets (including pets from our other business segment) was 1,708,017 at March 31, 2024, an increase of

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Executive change SEC 8-K Item 5.02 confidence 1.0

Darryl Rawlings resigned as Chief Executive Officer at TRUPANION, INC..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

submitted his resignation as CEO, effective August 1, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Margaret Tooth was appointed as Chief Executive Officer at TRUPANION, INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Board appointed Margaret ("Margi") Tooth, the Company's President, as the CEO, to be effective as of August 1, 2024.

View on SEC.gov

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TRUPANION, INC. filing history →

Source: SEC EDGAR

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