TRUPANION INC

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 27, 2024

TRUP$35.50-3.4%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

Trupanion, Inc. Consolidated Statements of Operations(in thousands, except share data)
	Year Ended December 31,
	2023	2022	2021
Revenue	$1,108,605	$905,179	$698,991
Cost of revenue:
Veterinary invoice expense(1)	831,055	649,737	486,062
Other cost of revenue(1)	146,534	133,257	108,583
Total cost of revenue	977,589	782,994	594,645
Operating expenses:
Technology and development(1)	21,403	25,133	16,866
General and administrative(1)	60,207	39,379	31,893
New pet acquisition expense(1)	77,372	89,500	78,647
Depreciation and amortization	12,474	10,921	11,965
Total operating expenses	171,456	164,933	139,371
Gain (loss) from investment in joint venture	(219)	(253)	(171)
Operating loss	(40,659)	(43,001)	(35,196)
Interest expense	12,077	4,267	10
Other expense (income), net	(7,701)	(3,072)	14
Loss before income taxes	(45,035)	(44,196)	(35,220)
Income tax expense (benefit)	(342)	476	310
Net loss	$(44,693)	$(44,672)	$(35,530)
Net loss per share:
Basic and diluted	$(1.08)	$(1.10)	$(0.89)
Weighted average shares of common stock outstanding:
Basic and diluted	41,436,882	40,765,355	40,137,505

(1)Includes stock-based compensation expense as follows:
Veterinary invoice expense	$3,667	$4,145	$4,538
Other cost of revenue	1,612	2,339	2,610
Technology and development	2,846	4,742	3,056
General and administrative	17,717	12,831	8,862
New pet acquisition expense	7,319	9,336	9,160

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.