Trupanion Inc. Achieves Record Growth in 2024

Trupanion Inc. ( (TRUP) ) has released its Q4 earnings. Here is a breakdown of the information Trupanion Inc. presented to its investors.

Trupanion, Inc. is a leading provider of medical insurance for cats and dogs, operating primarily in North America and other regions, offering peace of mind to pet owners with innovative insurance solutions and direct payment technologies. In its latest financial report, Trupanion announced a milestone year in 2024, marked by a 20% growth in subscription revenue, a doubling of subscription margin in the fourth quarter, and a record $39 million in free cash flow. The company also reported a significant improvement in net income for the fourth quarter, moving from a loss in 2023 to a positive $1.7 million. Key financial highlights include a total revenue increase of 14% for the fourth quarter and 16% for the full year, alongside a notable increase in adjusted EBITDA, which rose from $6.4 million in 2023 to $46.1 million in 2024. The subscription business, a core area for Trupanion, saw a 19% increase in revenue for the fourth quarter, although there was a slight decrease in total enrolled pets. Trupanion’s strategic focus on sustainable growth, enhancing member experience, and improving retention is set to continue into 2025, as expressed by the company’s management. With a strong cash position and improved financial metrics, Trupanion appears well-positioned to pursue its growth objectives while maintaining financial stability.