Trupanion Q3 revenue slightly beats estimates on subscription growth
TRUP•Trupanion’s third-quarter revenue rose 11% year over year to $405.59 million, slightly above the $402.52 million estimate. Subscription revenue increased 14% to $287.9 million, net income was $9.28 million, and the company repurchased $25 million of stock.
1. Quarterly results
Trupanion reported third-quarter revenue of $405.59 million, up 11% year over year and slightly above the $402.52 million analyst estimate. Net income was $9.28 million.
2. Subscription growth
Subscription revenue rose 14% to $287.9 million as enrolled subscription pets increased 6%. The company said it recorded its seventh consecutive quarter of improved retention rates and record operating and free cash flow.
3. Repurchases and outlook
Trupanion repurchased $25 million of its stock during the quarter. The company did not provide specific guidance for future quarters or full-year results in its press release.
