secwatch.observer — SEC 8-K summary
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Issuer:     TRUPANION, INC. (TRUP)
CIK:        0001371285
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001371285-24-000116
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1371285/000137128524000116/0001371285-24-000116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1371285/000137128524000116/trup-20240430.htm
  HTML page:      https://secwatch.observer/filing/0001371285-24-000116

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