Trupanion’s Q1 Revenue Climbs 12% to $384M as Net Income Hits $4.9M
Trupanion reported Q1 revenue of $384 million, up 12% year-over-year, driven by a 16% increase in its subscription business revenue to $269.5 million. Net income swung to $4.9 million, or $0.11 per share, from a $1.5 million loss, while subscription enrolled pets rose 5% to 1,105,783.
1. Strong Revenue and Profit Growth
Trupanion delivered first quarter revenue of $384.0 million, a 12% increase over the prior year, led by subscription business revenue of $269.5 million, up 16%. Net income reached $4.9 million, or $0.11 per share, reversing a $1.5 million loss, and adjusted EBITDA rose to $17.4 million from $12.2 million.
2. Enrollment Trends
Total enrolled pets stood at 1,637,665 at March 31, a 2% decrease year-over-year, while subscription enrolled pets increased 5% to 1,105,783. The company highlighted continued investment in competitive positioning and new offerings to support future membership gains.
3. Cash Flow and Liquidity Position
Operating cash flow was $14.6 million and free cash flow was $13.7 million, slightly below last year’s $16.0 million and $14.0 million respectively. Trupanion held $383.7 million in cash and short-term investments, with an additional $5.0 million available under its credit facility.